Global Markets React to US Inflation Report and Yen Volatility

Stock market today: Global stocks mixed with volatile yen after Wall Street rises on inflation report - ExBulletin

HONG KONG -- Global stock markets were mixed on Friday, with the Japanese yen giving back some of its gains after the latest US statement. inflation update reinforced Wall Street's belief that interest rate easing could come as early as September. The future of S&The P 500 and the Dow Jones Industrial Average gained 0.1%. The U.S. dollar lost 2.1% against the yen overnight and traded as low as 157.43 yen, fueling speculation that Japanese authorities may have intervened to amplify the impact of softer U.S. inflation data. It recovered some of its losses on Friday, rising to 159.12 yen from 158.80 yen. Another key data coming up is the US producer price index, which will be released later today, while inflation figures for Germany, France and Italy will also be released. European markets started the day higher. The German DAX rose 0.3% to 18,591.54 points and the CAC 40 in Paris rose 0.8% to 7,689.42 points. In London, the FTSE 100 gained 0.4% to 8,254.06 points. In Asia, Tokyo's Nikkei 225 index lost 2.5% to 41,190.68. Hong Kong's Hang Seng Index climbed 2.6% to 18,293.38 and the Shanghai Composite Index was little changed at 2,971.29 after data showed Chinese exports rose 8.6% in June, better than market expectations. Australia S&The P/ASX 200 index rose 0.9% to 7,959.30 points. South Korea's Kospi slipped 1.2% to 2,857.00 points. Elsewhere, Bangkok's SET rose 0.1%. Taiwan's Taiex fell 2%, and Taiwan Semiconductor lost 3.7%. The company had earlier advanced after reporting that its revenue rose nearly 33% in June from the same period last year, but followed Wall Street's tech giants lower. On Wall Street overnight, four out of five S&P stocks were down&The P 500 index climbed, despite declines for Nvidia, Microsoft and a handful of other top companies. influential companies masked that underlying strength. These giants have been the market's biggest winners amid a frenzy over artificial intelligence technology that has led critics to say they have become too expensive, and they have helped drag the S&The P 500 is down 0.9% from its all-time high set the day before. The falls in big tech stocks also pushed the Nasdaq Composite down 2% from its own record high. The declines snapped a seven-day winning streak for both&P 500 and Nasdaq Composite. The less tech-heavy Dow Jones Industrial Average rose 32 points, or 0.1%. The direction was firmly up for most Wall Street stocks, especially housing-related companies, real estate owners and others that benefit from easier interest rates. SBA Communications, which owns towers and other sites used for wireless communications infrastructure, jumped 7.5%, the biggest gain of the year.&P 500. The day's action was even stronger in the bond market, where yields fell as traders placed bets for next year. Federal Reserve to start lowering rates soon its main interest rate. It has been at its highest level in more than two decades for almost a year. Wall Street wants lower interest rates to ease pressure that has built up on the economy due to the high cost of borrowing. buy housescars or anything on credit cardFed officials, however, have said They want to see more reliable inflation data before acting. Wall Street viewed Thursday's report, which showed smaller-than-expected price increases from a year earlier for gasoline, cars and other things U.S. consumers bought in June, as evidence of that. Following the release of the reports, Treasury yields immediately fell. The yield on the 10-year Treasury note fell to 4.20% from 4.28% late Wednesday and from 4.70% in April. This is a major move for the bond market and a major boost for stock prices. In total, the S&The P 500 index fell 0.9% to 5,584.54 points. The Dow Jones gained 0.1% to 39,753.75 points and the Nasdaq Composite fell 2% to 18,283.41 points. In other trading, benchmark U.S. crude oil gained $1.03 to $83.65 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude oil, the international benchmark, gained 73 cents to $86.13 a barrel.

Stock market today: Asian stocks mixed with volatile yen after Wall Street rises on inflation report

HONG KONG (AP) -- Asian stocks were mixed Friday, with the Japanese yen losing some of its gains after the latest U.S. update on inflation bolstered Wall Street's belief that relief on interest rates may come as soon as September. U.S. futures and oil prices rose. The U.S. dollar lost 2.1% against the yen overnight and traded as low as 157.43 yen, fueling speculation that Japanese authorities may have intervened to amplify the impact of the milder U.S. inflation data. It regained some of its losses on Friday, rising to 159.19 yen from 158.80 yen. Tokyo's Nikkei 225 index lost 2.5% to 41,190.68. Hong Kong's Hang Seng index climbed 2.4% to 18,260.91 and the Shanghai Composite index rose less than 0.1% to 2,971.81 after data showed that China's exports increased by 8.6% in June, better than market expectations. Australia's S&P/ASX 200 was up 0.9% at 7,959.30. South Korea's Kospi slipped 1.4% to 2,851.96. Elsewhere, Bangkok's SET edged 0.2% higher. Taiwan's Taiex declined 2%, with Taiwan Semiconductor losing 1.9%. The company earlier rose after announcing that its revenue climbed nearly 33% in June compared with the same period last year, but followed Wall Street tech giants lower. On Wall Street overnight, four out of every five stocks in the S&P 500 index climbed, though pullbacks for Nvidia, Microsoft and a handful of other highly influential companies masked that underlying strength. Those giants have been the market's biggest winners amid a frenzy around artificial-intelligence technology, causing critics to say they had become too pricey, and they helped drag the S&P 500 down 0.9% from its all-time high set a day before. The drops for Big Tech stocks also pulled the Nasdaq composite down 2% from its own record. The drops broke seven-day winning streaks for both the S&P 500 and Nasdaq composite. The Dow Jones Industrial Average, which has less of an emphasis on tech, rose 32 points, or 0.1%. The direction was decidedly upward for the majority of stocks on Wall Street, particularly housing-related companies, real-estate owners and others that benefit from easier interest rates. SBA Communications, which owns towers and other sites used for wireless communications infrastructure, jumped 7.5% for the biggest gain in the S&P 500. The day's action was even stronger in the bond market, where yields tumbled as traders built bets for the Federal Reserve to soon begin lowering its main interest rate. It's been sitting for nearly a year at its highest level in more than two decades. Wall Street wants lower interest rates to release pressure that's built up on the economy because of how expensive it's become to borrow money to buy houses, cars or anything on credit cards. Fed officials, though, have been saying they want to see "more good data" on inflation before making a move. Wall Street saw Thursday's report, which showed milder price increases than expected from a year earlier for gasoline, cars and other things U.S. consumers bought during June, as providing just that. Following the report's release, Treasury yields tumbled immediately. The yield on the 10-year Treasury dropped to 4.20% from 4.28% late Wednesday and from 4.70% in April. That's a major move for the bond market and provides a big lift for stock prices. All told, the S&P 500 fell 0.9% to 5,584.54. The Dow rose 0.1% to 39,753.75, and the Nasdaq composite dropped 2% to 18,283.41. In other dealings, U.S. benchmark crude oil gained 57 cents to $83.19 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, picked up 43 cents to $85.83 per barrel.

World stocks mixed with volatile yen after Wall Street rises on inflation report

HONG KONG (AP) - Global stocks were mixed yesterday, with the Japanese yen losing some of its gains after the latest United States (US) update on inflation bolstered Wall Street's belief that relief on interest rates may come as soon as September. The futures for the S&P 500 and the Dow Jones Industrial Average edged 0.1 per cent higher. The US dollar lost 2.1 per cent against the yen overnight and traded as low as JPY157.43, fuelling speculation that Japanese authorities may have intervened to amplify the impact of the milder US inflation data. It regained some of its losses yesterday, rising to JPY159.12 from JPY158.80 yen. Another key data release coming up is the US producer price index, while inflation readings for Germany, France, and Italy will also be released. European markets started the day with gains. Germany's DAX was up 0.3 per cent to 18,591.54 and the CAC 40 in Paris was 0.8 per cent higher at 7,689.42. In London, the FTSE 100 added 0.4 per cent to 8,254.06. In Asia, Tokyo's Nikkei 225 index lost 2.5 per cent to 41,190.68. Hong Kong's Hang Seng index climbed 2.6 per cent to 18,293.38 and the Shanghai Composite index was nearly unchanged at 2,971.29 after data showed that China's exports increased by 8.6 per cent in June, better than market expectations. Australia's S&P/ASX 200 was up 0.9 per cent at 7,959.30. South Korea's Kospi slipped 1.2 per cent to 2,857.00. Elsewhere, Bangkok's SET edged 0.1 per cent higher. Taiwan's Taiex declined two per cent, with Taiwan Semiconductor losing 3.7 per cent. The company earlier rose after announcing that its revenue climbed nearly 33 per cent in June compared with the same period last year, but followed Wall Street tech giants lower. On Wall Street overnight, four out of every five stocks in the S&P 500 index climbed, though pullbacks for Nvidia, Microsoft and a handful of other highly influential companies masked that underlying strength. Those giants have been the market's biggest winners amid a frenzy around artificial intelligence technology, causing critics to say they had become too pricey, and they helped drag the S&P 500 down 0.9 per cent from its all-time high set a day before. The drops for Big Tech stocks also pulled the Nasdaq composite down two per cent from its own record. The drops broke seven-day winning streaks for both the S&P 500 and Nasdaq composite. The Dow Jones Industrial Average, which has less of an emphasis on tech, rose 32 points, or 0.1 per cent.

Markets today: Stocks remain higher after U.S. consumer sentiment

(Bloomberg) -- Stocks rose and bond yields fell, with traders weighing the latest economic readings and big banks kicking off the earnings season. The S&P 500 hovered near 5,600 after sliding almost one per cent in the previous session. Smaller firms continued to outperform megacaps. Banks got hit. Wells Fargo & Co. warned it won't be able to whittle away costs as fast as forecast. JPMorgan Chase & Co. missed on a few key metrics like net interest income -- despite posting record profit. Citigroup Inc. said costs for the year are likely to be at the high end of the range previously provided. Traders looked past data showing U.S. producer prices climbed slightly more than forecast -- as categories that are used to calculate the U.S. Federal Reserve's preferred inflation measure, the personal consumption expenditures price index, were not that bad. Treasury 10-year yields declined two basis points to 4.19 per cent. The pound is trading at its strongest level in a year versus the U.S. dollar and the highest in almost two years against the euro. Japan likely stepped into currency markets prop up the yen soon after U.S. inflation figures came out Thursday, according to a Bloomberg analysis of central bank accounts. Corporate highlights: * AT&T Inc. suffered a massive hack of customer data -- separate from one reported earlier this year -- that included records of calls and texts for nearly all of its mobile-phone users for a six-month period in 2022, one of the biggest breaches of private communications data in recent memory. * Boeing Co. has notified some 737 Max customers in recent weeks that aircraft due for delivery in 2025 and 2026 face additional delays, another reminder that production of its cash-cow jetliner faces a long road to recovery. * Deutsche Lufthansa AG cut its profit outlook for the full year and warned that breaking even at its namesake German unit will be "increasingly challenging" as it grapples with higher unit costs and falling ticket prices. * Rio Tinto Group is studying proposals for potential bids for companies including Teck Resources Ltd., Sky News reported, citing people it didn't identify. * Novo Nordisk A/S's Ozempic was linked to lower rates of dementia and a range of other mental problems in a University of Oxford study that raises expectations about the diabetes drug's potential ancillary benefits. * Samsung Electronics Co.'s largest union is now calling on employees at one of the company's most advanced AI memory chip plants to walk off the job, switching tactics after their campaign for higher pay showed signs of losing steam. * Taiwan Semiconductor Manufacturing Co.'s US$420 billion equity rally this year will get a valuation test next week when it reports earnings, with analysts expecting the chipmaker to raise full-year sales forecasts. * The yield on 10-year Treasuries declined two basis points to 4.19% * Germany's 10-year yield advanced three basis points to 2.49% * Britain's 10-year yield advanced three basis points to 4.11%