Global stocks advanced Wednesday as technology shares again powered gains, and on hopes the Federal Reserve will cut interest rates to curb a jobs downturn. Shares in South Korea were on track for a record close, while stocks in Japan and Hong Kong also moved higher. MSCI’s Asia-Pacific index is within 2% of its record set in 2021, and the global all-country benchmark gained a sixth day to another all-time high. US equity futures advanced. Oil rose after an Israeli attack in Qatar revived fears of an escalating Middle East conflict. Technology shares including Taiwan Semiconductor Manufacturing Co. and Tencent Holdings Ltd. led gains in the Asian gauge after Oracle Corp. shares surged to a record high in extended trading, following the company’s aggressive outlook for its cloud business. After fresh signs of a cooling labor market, investors are bracing for inflation reports in the coming days that will help shape next week’s Fed meeting and the path of rate cuts into 2025 — a key test for whether Wall Street can sustain this month’s rally. Money markets are projecting between two to three Fed cuts this year, with US producer and consumer price index data due this week. The Kospi jumped as much as 1.6% on Wednesday, with index heavyweights Samsung Electronics Co. and SK Hynix Inc. among the biggest boosts. The gauge is up more than 37% so far this year, driven by enthusiasm for the nation’s ongoing corporate reform campaign as well as an artificial intelligence boom. China’s consumer prices slipped below zero for the first time in three months, as deflationary pressures persist in an economy at risk of a slowdown. Traders will be monitoring the potential for joint action by the US and the European Union to pressure Russia into Ukraine talks. President Donald Trump said he’s prepared to join the bloc to impose sweeping new tariffs on China and India — key buyers of Russian oil — and also said he plans to discuss trade with Indian Prime Minister Narendra Modi “in the coming weeks.” Back in the US, investors will be watching the extent to which the August inflation data affcts market expectations for the Fed’s decision next week. In the run-up to the inflation reports, government data showed US job growth was far less robust in the year through March than previously reported. The number of workers on payrolls will likely be revised down by a record 911,000, or 0.6%, according to the preliminary benchmark revision out Tuesday. The final figures are due early next year. Jamie Dimon said the record revision to US payrolls data is further proof that the US economy is battling a slowdown. “The economy is weakening,” the JPMorgan Chase & Co. chief executive officer said in an interview with CNBC Tuesday. “Whether that is on the way to recession or just weakening, I don’t know.” US After Hours ORCL +27.3% sharply higher on earnings; ASST +33.4% on shareholder approval of merger; SNPS -17.3%, RBRK -4.7% lower on earnings.
Nikkei +0.75% Hang Seng +1.27% CSI +0.40% Shanghai +0.25% Shenzen +0.37%
Eur$ 1.1712 CNH 7.1215 CNY 7.1248 JPY 147.40 GBP 1.3537 CHF 0.7971 RUB 83.7626 TRY 41.2769 WTI$ 63.22 +0.94% Gold 3,642 +0.43% BTC 111,552 +0.04% ETH 4,313 +0.22%
S&P +0.24% Nasdaq +0.18% EuroStoxx +0.22% FTSE +0.15% Dax +0.38% SMI +0.16%
Macro :
- Kenyan leader urges continued talks after Ethiopia launches dam
- Big Solar Developers Sees Delays in US Project Approvals
- Big Solar Developers Sees Delays in US Project Approvals
- Poland Says Russian Drones Violated Its Airspace
- Trump Can’t Fire Fed Governor Lisa Cook for Now, Judge Says
- Modi Says India, US to Conclude Trade Talks at the Earliest
- Trump Risks Triggering a Global Dollar Squeeze: Macro View
- Anna Wintour admits Meryl Streep’s portrayal of her in The Devil Wears Prada was a ‘fair shot’
Keep an eye on :
Keep an eye on :
- AIR FP : Europe Space Merger Talks Progress With Airbus, Thales, Leonardo
- ALO FP : NJ Transit Orders $1.1 Billion Worth of Rail Cars, Locomotives
- ATUS US : Altice USA Switches Advisers to Revive Debt-Reshuffle Talks
- ANTIN FP : Antin 1H Revenue Beats Estimates Antin FY Underlying Ebitda Forecast Misses Estimates
- AAPL US : Apple Falls After Event Debuting New iPhone 17: Street Wrap
- BALN SW : Baloise 1H Profit CHF275.9M Vs. CHF219.8M Y/y
- BILL US : Elliott Has Built Stake of at Least 5% in Bill Holdings: FT
- BILL US : Elliott Has Built Stake of at Least 5% in Bill Holdings: FT
- BA US : Singapore Plans to Buy Four Boeing Maritime Patrol Aircraft
- COK GY : Cancom to Buy Back Up to 10% of Shares
- CLASB SS : Clas Ohlson 1Q Operating Profit SEK278M Vs. SEK203M Y/y
- CRI FP : Compagnie Chargeurs 1H Recurring Operating Profit EU15.1M
- CVC NA : CVC Joins Amsterdam’s AEX Index as It Expands to 30 Major Stocks
- DEME BB : DEME Group to Start Liquidity Program Sept. 15
- EQT SS : EQT Sells $344m of Kodiak Gas Services Shares
- XOM US : Exxon expects EU to sign long-term US gas deals
- Gemini Space IPO : Gemini Space Station Seeks to Raise up to $433m, up From $317m, Gemini IPO Is Said to Be Double-Digits Oversubscribed
- GTT FP : GTT Gets Order From Samsung Heavy for FLNG Unit Tank Design
- HIMS US : Hims to Launch New Offerings for Men With Low Testosterone
- ITX SM : Inditex 1H Ebit Meets Estimates, Zara Owner’s Sales Show a Pickup at Start of Third Quarter
- JNJ US : J&J’s Drug-Delivery System Approved for Bladder Cancer
- 9503 JP : Elliott Takes A Stake in Japan’s Kansai Electric Power: FT
- KER FP : Artemis Keeps Options Open Regarding Puma Stake: Pinault
- FOXA US : *JPMORGAN LENDS $1 BILLION FOR LACHLAN MURDOCH’S STOCK BUYOUTS
- MSFT US : Microsoft to Buy AI From Anthropic in Shift From OpenAI
- MRNA US : FDA Officials Seek Cases Where Covid Shots Allegedly Harmed Pregnant Women, Sources Say -- WSJ
- NOVOB DC : Novo to Cut 9,000 Jobs to Save DKK8b By End of 2026 (1)
- NVDA US : *COREWEAVE AND NVIDIA SHARES FOLLOW ORACLE HIGHER, UP 1.5%
- NVDA US : Reflection AI Nears Deal For $5.5b Valuation: FT
- ORCL US : Oracle Sees FY Cloud Infrastructure Rev. Up 77% to $18 Billion : Snapshot --> +20%
- PUIG SM : Puig Maintains FY 2025 Guidance, Targets 6%-8% Revenue Growth
- RUI FP : Rubis Maintains FY Ebitda Forecast
- SAN FP : Sanofi’s Tzield Approved in China for Stage 2 Type 1 Diabetes
- STLA IM : Stellantis Will Return Windsor Plant to Three Shifts, Union Says