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  • Sep 09, 2024

Oil rebounds from week of heavy losses as storm approaches US Gulf Coast

LONDON (Reuters) -Oil futures jumped by about 1% on Monday as a potential hurricane approaching the U.S. Gulf Coast helped oil prices to recover some of the previous week's heavy losses. Brent crude rose 67 cents, or 0.94%, to $71.73 a barrel by 0901 GMT while West Texas Intermediate crude futures were up 68 cents, or 1%, at $68.35. Prices of Brent crude had fallen in each of the past six trading sessions, retreating by more than 11%, or nearly $9 a barrel, to register the lowest closing price since December 2021 on Friday.

  • Sep 09, 2024

Morgan Stanley’s Wilson Says Yen Carry Risk Lingers for Stocks

(Bloomberg) -- US equities are at risk from a further unwinding of yen-funded carry trades if the Federal Reserve delivers a jumbo interest-rate cut this month, according to Morgan Stanley’s Michael Wilson.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to

  • Sep 09, 2024

Morgan Stanley’s Wilson Says Yen Carry Risk Lingers for Stocks

(Bloomberg) -- US equities are at risk from a further unwinding of yen-funded carry trades if the Federal Reserve delivers a jumbo interest-rate cut this month, according to Morgan Stanley’s Michael Wilson.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to

  • Sep 09, 2024

Traders keep half an eye on CPI as jobs fear outweighs inflation

(Bloomberg) -- For two years since the Federal Reserve started its aggressive fight against inflation, equity traders have been glued to their screens on days when the consumer price index was reported.Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to the

  • Sep 09, 2024

Global markets mixed after Wall Street had its worst week in nearly 18 months

Asian stocks fell while European markets started the week higher on Monday after another rout hit Wall Street, as a highly anticipated U.S. job market update added to worries about the economy. Japan's gross domestic product grew by an annualized 2.9% in the second quarter, according to revised data from the Cabinet Office released on Monday. “Any broader risk aversion may have an amplified effect on Japanese equities, with safe-haven flows potentially supporting the yen, which is looked upon as negative for the country's exporters,” Yeap Jun Rong, market strategist at IG, said in a commentary.

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