Global stocks held firm on Tuesday and the dollar regained a little of its overnight losses a day ahead of crucial U.S. inflation data that could influence when or whether the Federal Reserve raises rates further. Traders still had plenty to watch on Tuesday ahead of the key U.S. numbers and Thursday’s European Central Bank meeting, as Britain reported a rise in its unemployment rate that means the Bank of England’s expected rate rise next week might be its last. Europe’s Stoxx 600 index edged up 0.27%, with Britain’s FTSE ...

India may reconsider allowing local firms to list on foreign exchanges, Finance Minister Nirmala Sitharaman said on Monday, signalling New Delhi could revive a plan put on hold due to domestic opposition and tax concerns. Under current regulations, Indian firms are not allowed to list directly on overseas exchanges. They can only list on foreign exchanges through instruments such as depository receipts. The plan to allow direct overseas listing of Indian firms was first announced in 2020, but was shelved following concerns around tax losses and opposition from a faction ...

Wall Street’s main indexes were set to open higher on Monday following gains in megacaps led by Tesla (NASDAQ:TSLA), while investors awaited inflation data due later this week for clues on the U.S. Federal Reserve’s interest-rate path. Tesla jumped 6% in premarket trading as Morgan Stanley upgraded the EV maker to “overweight” from “equal-weight” due to potential growth in its market value because of Dojo, the firm’s supercomputer. Shares of other megacaps including Alphabet (NASDAQ:GOOGL), Microsoft (NASDAQ:MSFT) and Amazon (NASDAQ:AMZN) rose between 0.4% and 0.8%. Apple (NASDAQ:AAPL) climbed 1.4% after ...

U.S. stock investors are turning their focus to next week’s inflation data, which could determine the near-term path of an equity rally that has wobbled in recent weeks. Signs the U.S. economy is on track for a so-called soft landing, where the Federal Reserve is able to bring down inflation without badly damaging growth, have helped power the S&P 500’s 16% year-to-date gain. Last week’s employment data played into that narrative, showing the job market remained robust, though not strong enough to spark worries that the Fed would need to ...

A surging stock market powered U.S. household wealth to a record high of more than $154 trillion in the second quarter, aided by a rebound in property values, Federal Reserve data showed. Household net worth rose 3.7% to $154.28 trillion in the period from April through June from $148.79 trillion at the end of the first quarter, the Fed said in its quarterly snapshot of the balance sheets of households, businesses and federal, state and local governments. The data showed households have fully recouped the wealth losses generated by a ...

A potential U.S. government shutdown at the end of September could add to worries about the economy going into year-end and beyond, investors said. Current funding for most government programs expires on Sept. 30. If lawmakers are unable to pass a new budget by then, large swathes of government functions would shut down, an event strategists at Goldman Sachs estimate would reduce U.S. economic growth by 0.2% for each week it lasted. A partial closure of the government, which will not interfere with essential functions like the military or Social ...

Asia stock markets started to turn positive later on Monday even though investors in China sold off shares in property developers, remaining unconvinced by authorities’ efforts to revive activity in the mainland real estate market. MSCI’s broadest index of Asia-Pacific shares outside Japan reversed earlier losses and was up 0.3%, after U.S. stocks ended the previous session with mild gains. Australian shares gained 0.36% and Japan’s Nikkei stock index slid 0.49%. The yen appreciated sharply against the dollar after Bank of Japan governor Kazuo Ueda stoked hopes the central bank ...

China data dump: M2, industrial production, retail sales, aggregate financing China will release a huge batch of data next week, the highlights of which will be industrial production and retail sales figures for August. Taking cues from the PMIs released recently, we could see a moderate improvement in industrial production at 4.8% year-on-year (from 3.7% in July). For retail sales, as it is approaching the end of the summer holiday season, we could see slower growth of 2.8% (from 2.5% in July). India: CPI inflation India’s inflation is likely to ...

US: The general theme likely to be higher inflation It is a very big week for US data as the last major reports ahead of the Federal Reserve’s September FOMC meeting come in. Consumer and producer price inflation, retail sales and industrial production are all due, with the general theme likely to be higher inflation than seen of late versus weaker activity relative to recent trends. Nonetheless, Federal Reserve officials are seemingly of the mindset that they will likely pause interest rate hikes again and re-evaluate in November with just ...

Investors withdrew from U.S. equity funds for a sixth successive week in the seven days to Sept. 6, in the wake of downbeat economic data from China and Europe, and a surge in U.S Treasury yields. According to LSEG data, investors withdrew a net $5.96 billion out of U.S. equity funds during the week, compared with about $4.42 billion worth net withdrawn the previous week. Data pointing to a slowdown in the services sector in China and Europe in August, stirring concerns about global economic growth. Meanwhile, U.S. Treasury yields ...

Global shares steadied on Friday as the dollar headed for its longest winning streak since 2014 on the back of a buoyant U.S. economy, with investors expecting central banks to stand pat on rates over the coming two weeks. The tech sector was in focus after about $200 billion was wiped from Apple (NASDAQ:AAPL)’s market capitalisation in two days on reports of China curbing iPhone use by state employees and on Friday protectionism fears were weighing on shares of suppliers. The feisty dollar weighed on copper and crude oil prices, ...

Global shares steadied on Friday as the dollar headed for its longest winning streak since 2014 on the back of a buoyant U.S. economy, with investors expecting central banks to stand pat on rates over the coming two weeks. The tech sector was in focus after about $200 billion was wiped from Apple (NASDAQ:AAPL)’s market capitalisation in two days on reports of China curbing iPhone use by state employees and on Friday protectionism fears were weighing on shares of suppliers. The feisty dollar weighed on copper and crude oil prices, ...

Leverage is now very high in parts of the $7 trillion hedge fund sector, G20 risk watchdog Financial Stability Board (FSB) warned on Wednesday, while noting that significant data gaps make it hard to get a full picture of vulnerabilities among “non-banks”. Many of the underlying flaws seen in non-bank financial institutions (NBFI) during the COVID-19 pandemic in March 2020 that forced central banks to inject liquidity into markets were still largely in place, the FSB said in a report. “Limits on data collection and disclosure mean that certain aspects ...

World stocks slid for a third straight day on Thursday and were choppy in Europe, as new signs of sustained inflationary pressures in the United States and rising energy prices globally boosted the case for higher-for-longer interest rates. The U.S. dollar was loitering close to its highest point since March against major peers, and touched a fresh 10-month top versus the Japanese yen, the traditional global funding currency where interest rates remain ultra-low. Blistering-hot Institute for Supply Management (ISM) figures on Wednesday, at their strongest level since February, bolstered bets ...

Short sellers returned to profit in August following two months of losses as U.S. stocks’ rally hit a pause after a steady climb this year, data and analytics company Ortex said. The bearish investors made $14.8 billion on aggregate last month after shedding $16.5 billion in July and losing $37 billion in June, according to Ortex. The S&P 500 snapped a five-month winning streak in August as a rise in U.S. Treasury yields weighed on shares of heavyweight growth stocks such as Apple and Microsoft, whose future cash flows are ...