• Aug 15, 2024

Asia stocks firm, dollar sags with US yields on Fed cut bets

TOKYO (Reuters) -Asian stocks were firm on Thursday while the dollar remained on the back foot amid lower U.S. Treasury yields after benign consumer inflation data overnight reinforced bets for the Federal Reserve to start cutting interest rates next month. U.S. S&P 500 futures pointed 0.16% higher after the cash index advanced 0.4% on Wednesday, buoyed by the slowest rise in the consumer price index in more than three years. "The report 'checked the box' for the Fed to start cutting rates in September," TD Securities analysts wrote in a report.

• Aug 15, 2024

Equities Rally as Economic Data Boost Sentiment: Markets Wrap

(Bloomberg) -- Equities in Japan and China advanced, following gains on Wall Street, as investors cheered a string of encouraging economic data points from the world’s three largest economies.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionJohannesburg Mayor Quits Amid Infighting, Financial WoesJapan’

• Aug 15, 2024

Iron Ore Hits Lowest Since 2022 as Steel Crisis Rattles Market

(Bloomberg) -- Iron ore hit the lowest level since 2022 on concern that global supply is running ahead of demand, with China’s steelmakers mired in a crisis and cutting output just as major miners boost exports.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionJohannesburg Mayor Quits Amid Infighting, F

• Aug 15, 2024

Dollar drifts as ebbing US inflation sets the stage for rate cuts

SINGAPORE (Reuters) -The dollar was soft on Thursday, with the euro perched near an eight-month high after data showed U.S. inflation was slowing, underpinning wagers that the Federal Reserve could lower borrowing costs next month. Bouts of intervention from Tokyo early last month and then a surprise rate hike from the Bank of Japan at the end of July wrong-footed investors who bailed out of popular carry trade, lifting the yen. In the U.S., data on Wednesday showed the consumer price index rose moderately, in line with expectations, and the annual increase in inflation slowed to below 3% for the first time since early 2021.

• Aug 15, 2024

Goldman Sachs Calls Out 2 Packaged Food Stocks as Top Buys in the Sector

Last week’s spate of market volatility, the poor July jobs report, and the prospect of Federal Reserve interest rate cuts are together prompting renewed fears of a near-term recession. A recent contraction in the PMI – purchasing managers’ index – hasn’t helped matters. And while the market is bouncing back this week, investors are starting to diversify their portfolios – and are looking for a slightly more defensive stance. The packaged food industry makes a sound place to look for such portfol

• Aug 15, 2024

Morning Bid: Data tests loom for Fed, BoE

This week, and this month, are once again showing that data is king, with investors parsing recent economic releases for clues on the likely pace of interest cuts at the Federal Reserve and the Bank of England. Potential flashpoints for policy expectations loom for the currency markets on Thursday, when U.S. retail sales and Britain's GDP are due for release. Mild readings for U.S. inflation this week have cemented market certainty that the Fed will lower borrowing costs in September for the first time in 4 1/2 years, but debate still rages over whether policy makers will opt for a super-sized 50 basis-point reduction or a more standard quarter-point cut.

• Aug 15, 2024

LLY, NVO: Which GLP-1 Stock Is the Better Bet?

The GLP-1 (weight-loss drug) boom is continuing to gain steam. As the two leaders in the space, Eli Lilly (LLY) and Novo Nordisk (NVO) stand out as top picks for investors to play the trend. Though the two biotech innovators have felt the pressure from the July-August market sell-off, high demand and efforts to ramp up production seem to be setting the stage for a glorious growth surge at some point over the near future. As always, though, one firm may be in better shape than the other to seize

• Aug 15, 2024

Fed's Bostic open to September rate cut, FT reports

"I'm open to something happening in terms of us moving before the fourth quarter," Bostic told the newspaper. Bostic's comments are a step ahead of his comments earlier this week where he said he wants to see "a little more data" before he's ready to support lowering interest rates. U.S. consumer prices rose moderately in July and the annual increase in inflation slowed to below 3% for the first time in nearly 3-1/2 years, opening the door wider for the Federal Reserve to cut rates next month.

• Aug 15, 2024

Stock market today: Stocks climb after inflation drops to 3-year low, solidifying Fed bets

Investors are pricing in with certainty that a rate cut is coming in September, per the CME FedWatch tool.

• Aug 15, 2024

Lenovo Q1 revenue jumps 20%, beats estimates as PC market recovers

China's Lenovo Group reported a 20% rise in its quarterly revenue on Thursday, as the global personal computer market showed signs of recovery after a two-year slump. For the three months ended in June, the company's revenue rose to $15.4 billion, above the average estimate of $14.1 billion expected by analysts polled by LSEG. This marks a third consecutive quarter of revenue growth for Lenovo after it suffered five straight quarters of revenue declines amid the post-COVID slowdown.