Asian stocks mostly rose Tuesday after Wall Street pushed closer to record highs following its roller coaster of a summer. China held its benchmark lending rates unchanged on Tuesday, with the one-year loan prime rate at 3.35% and the five-year LPR at 3.85%. This came after a series of key interest rate cuts made last month that aimed to support the economy.
Federal Reserve officials have said they're increasingly confident that they've nearly tamed inflation. With inflation cooling toward its 2% target, the pace of hiring slowing and the unemployment rate edging up, the Fed is poised to cut its benchmark interest rate next month from its 23-year high. Chair Jerome Powell will likely provide some hints about how the Fed sees the economy and what its next steps may be in a high-profile speech Friday in Jackson Hole, Wyoming, at the Fed's annual conference of central bankers.
Stocks are on an unstoppable hot streak right now, with eight straight sessions in the green for the S&P 500 (SPX), the longest win streak since last November. Undoubtedly, Technology stocks are leading the path higher, just weeks after many investors thought the markets would tank and that less-loved mid-cap and value plays would lead us higher. With Tech stocks in the driver’s seat again, it may be time for many to revisit the drawing board for value from the latest swoon. In this piece, we’ll
India's appetite for potato chips is growing rapidly - with some major players building a nationwide presence to cater to rising demand, Raghavendra Verma reports.
Japan is ramping up promotional efforts to boost seafood exports to more destinations in Asia, the U.S., and Europe as it seeks to fill a sales gap left by a year-long Chinese import ban, the head of the Japan External Trade Organization said. China, previously the biggest market for Japanese seafood exports, banned purchases of Japanese-origin seafood citing risk of radioactive contamination after Tokyo Electric Power started releasing treated water from the wrecked Fukushima nuclear power plant into the Pacific Ocean last August. Japan's exports of agricultural, forestry and fishery products in the first half of 2024 fell for the first time since 2020 as exports to China plunged 43.8%.
The global vehicle market was virtually flat in 2018 at around 94m vehicles sold, but the fourth quarter showed a near 5% year-on-year drop on the back of a similarly sized decline in Q3. The global light vehicle market continues to face challenges in 2019 after that pronounced weakening in the second half of 2019.
Pakistani startup PostEx, offering financial and logistics services to online merchants, is set to enter new markets, beginning with Saudi Arabia this year, TechCrunch has exclusively learned. "We want to go into other markets to really disrupt them because we see the gap," said Muhammad Omer Khan, founder and CEO of PostEx, in an interview. E-commerce in Pakistan, which currently sits at around 1.5% of its total retail market, has grown 50% in the last 12 months.
Aside from the Fed, investors will pay attention to 2nd-quarter earnings results from retailers this week, including Lowe's, TJX Cos., and Target.
Donald Trump's Truth Social parent company closed at a new low since merging to go public in March. Experts have compared it to a meme stock.
"Global two-week vacations started on Friday at 4pm. The bar for being bearish at the beach into a Labor Day BBQ party is high," Goldman Sachs said.
