MSCI Asia-Pacific index rose 0.3% as easing Middle East tensions and falling oil prices offered inflation relief
Oil skid lifts shares and bonds, Brent crude slides 5.2%
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Summary
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3%. In commodity markets, the drop in yields helped non-interest-paying gold climb 1.4% to US$4,110 an ounce. Data highlights include US advance Q2 GDP where growth is seen picking up to an annualised 1.5% after a soft start to the year.
Furthermore, Yet, Yemen's Iran-aligned Houthis had still attacked Saudi oil installations along the Red Sea coast, threatening another waterway vital to the global oil trade. "Net, it looks as if developments in the Middle East have moved in a positive direction over the weekend, adding some credibility to the notion that oil above US$100 a barrel seems to induce de-escalatory behaviour from both sides," said Sally Auld, group chief economist at NAB. The massive sums involved were underlined by a WSJ report that Nvidia was in talks to provide a roughly $250 billion backstop for OpenAI as part of a data center project. About one-third of S&P 500 companies are due to report this week with earnings on track to boast a 26.5% increase on last year, according to LSEG IBES data.
In addition, The lull in fighting over the Strait of Hormuz saw Brent crude slide 5.2% to US$91.73 a barrel, while US crude dropped 5.4% to US$84.45. Companies reporting include tech darlings Microsoft, Meta Platforms, Amazon, Apple and Qualcomm, along with a host of industrial, defence and healthcare stocks. The central bank meets on Wednesday and markets imply around a one-in-three chance of a rate rise, though most analysts doubt Chair Kevin Warsh would be in favour of a move.
Cross-referenced from 3 sources.
Factual coreconfirmed by several independent voices
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3%.
reliability moderate2/2 sourcesIn commodity markets, the drop in yields helped non-interest-paying gold climb 1.4% to US$4,110 an ounce.
reliability moderate2/2 sourcesData highlights include US advance Q2 GDP where growth is seen picking up to an annualised 1.5% after a soft start to the year.
reliability moderate2/2 sourcesYet, Yemen's Iran-aligned Houthis had still attacked Saudi oil installations along the Red Sea coast, threatening another waterway vital to the global oil trade. "Net, it looks as if developments in the Middle East have moved in a positive direction over the weekend, adding some credibility to the notion that oil above US$100 a barrel seems to induce de-escalatory behaviour from both sides," said Sally Auld, group chief economist at NAB.
reliability moderate2/2 sourcesThe massive sums involved were underlined by a WSJ report that Nvidia was in talks to provide a roughly $250 billion backstop for OpenAI as part of a data center project.
reliability moderate2/2 sourcesAbout one-third of S&P 500 companies are due to report this week with earnings on track to boast a 26.5% increase on last year, according to LSEG IBES data.
reliability moderate2/2 sourcesThe lull in fighting over the Strait of Hormuz saw Brent crude slide 5.2% to US$91.73 a barrel, while US crude dropped 5.4% to US$84.45.
reliability moderate2/2 sourcesCompanies reporting include tech darlings Microsoft, Meta Platforms, Amazon, Apple and Qualcomm, along with a host of industrial, defence and healthcare stocks.
reliability moderate2/2 sources
Reported detailssecondary facts, each attributed to its source
The central bank meets on Wednesday and markets imply around a one-in-three chance of a rate rise, though most analysts doubt Chair Kevin Warsh would be in favour of a move.
according to Channel News Asia
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