Eurozone zew economic sentiment index

On a weekly basis, the KLCI dropped 20.04 points from 1,456.74 at the end of the previous week. (Photo by Low Yen Yeing/The Edge) - A + A KUALA LUMPUR (June 25): Bursa Malaysia is expected to stage an “oversold bounce” next week after the steep correction seen for the past three months, moving in the 1,450-1,480 range, a dealer said. Going forward, Inter-Pacific Asset Management Sdn Bhd executive director and fund manager Datuk Dr Nazri Khan Adam Khan said the benchmark FBM KLCI is expected to rebound higher on bargain-hunting activities as traders come back into play to grab both higher and lower liners. "I will call this an oversold bounce because the index has been oversold for the last three months, in which we were down for 10 out of 12 weeks. That is considered as extremely oversold. "Despite that, the broader market outperformed other regional markets, which means our correction is lower as our economic data is still resilient. Consumer spending is … [Read more...] about Bursa expected to stage ‘oversold bounce’ in coming week

- A + A BENGALURU (June 24): The Philippine peso fell for the eighth straight session on Friday (June 24) as markets feared a modest rate hike by the country's central bank may not be enough to curb surging inflation, while other Asian currencies rose against a weaker US dollar. The Bangko Sentral ng Pilipinas (BSP) stuck to a 25-basis-point increase in its benchmark rate on Thursday for a second month in a row, fearing that more aggressive tightening could compromise growth. "Concerns over the gradual pace of BSP hikes, weaker budget balance, as well as policy uncertainty under the new president could be adding to PHP drags in the interim," Maybank analysts said in a note. The peso was on track for its worst week since June 2013. It was down 2% during the week, and hovered at a more than 16-and-a-half-year intraday low notched earlier in the week. The Thai baht was 0.1% weaker intraday, touching a more than five-year low, likely pressured by portfolio outflows, … [Read more...] about Philippine peso on track for worst week in nine years; Asian stocks gain

- A + A SINGAPORE/TOKYO (June 24): Global stocks and bonds headed for their first weekly gain in a month on Friday (June 24), with growth concerns tempered by hopes that sliding commodity prices can help brake runaway inflation. MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.4% on Friday, helped by short sellers bailing out of Alibaba — which rose nearly 7% — amid hints that China's technology crackdown is abating. Japan's Nikkei rose 1.2% for a 2% weekly gain, while S&P 500 futures extended overnight gains by 0.76%. EuroSTOXX 50 futures rose 1% and FTSE futures rose 0.6%. The week has been marked by steep declines for commodities on worries that the world economy is looking shaky and that interest rate hikes will hurt growth — which in turn is also prompting traders to pare back some bets on the size of rate hikes. Copper, a bellwether of economic output with its wide range of industrial and construction uses, is heading for its steepest … [Read more...] about Bruised stocks find support as growth fears dent commodities

- A + A NEW YORK/BENGALURU (June 24): Wall Street's main indexes climbed more than 2% on Friday, as signs of slowing economic growth and a recent weakening of commodity prices tempered expectations over how high the Federal Reserve will raise interest rates to rein in inflation. Global financial markets have been roiled this month on worries that rapid rate hikes by major central banks could cause a recession, with the benchmark S&P 500 confirming a bear market last week as it recorded a 20% drop from its January closing peak. The three main indexes looked set to notch their first weekly gain of the month, boosted by megacap growth stocks and defensive sectors such as healthcare and utilities seen as safer bets during times of economic uncertainty. "The reality is there's some optimism that the weakening economy, the stronger potential for a recession down the road could actually impede the Fed's aggressive hiking schedule," said Ryan Detrick, chief market … [Read more...] about Wall St rallies as traders dial back rate-hike bets

Share to Twitter Share to Linkedin If you’ve pumped gas, bought groceries, traveled or dined out in recent months, you don’t need me to tell you that inflation is having a significant impact on your purchasing power. While many of today’s workers have never seen inflation this high during their lifetimes, most people in or nearing retirement age remember it well. In fact, I was just beginning my career as a wealth advisor the last time we experienced rates this high. Yet, the current rate of 8.3% pales in comparison to the rates we saw in the late 1970s and early 1980s. By 1980, inflation had topped 14%, and unemployment was over 7.5%, based on historical data from the Federal Reserve (Fed). While most economists do not expect broad inflation measures to reach double-digits, the current environment has been challenging for many individuals and families trying to find creative ways to make their budgets stretch further. Because the forces behind inflation are … [Read more...] about Debunking 6 Inflation Myths

Asian shares wobbled while commodity prices fell on Thursday as mounting worries about the risks of a global recession amid aggressive rate hikes by the Federal Reserve kept broad investor sentiment fragile. MSCI's broadest index of Asia-Pacific shares outside Japan reversed earlier gains to be mostly flat in Asia trade. Stocks in South Korea were off, while Japan's Nikkei was broadly unchanged. Hong Kong's Hang Seng Index climbed 0.6%, following the news that Chinese President Xi Jinping chaired a top-level meeting on Wednesday that approved a plan for the healthy development of China's large payment firms and fintech sector. Overnight, the dollar fell alongside U.S. Treasury yields after Fed Chair Jerome Powell, in testimony to the U.S. Senate Banking Committee, acknowledged a recession was "certainly a possibility", but the Fed is not trying to engineer one. A Reuters poll showed the Fed will deliver another 75-basis-point interest rate hike in July, followed by a … [Read more...] about Asia shares struggle, oil falls as recession fears linger

File photo of BSE building at Dalal Street Mumbai via Wikimedia Commons Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The calendar year 2021 was among the most unforgettable years for the Indian equity market. The average BSE-listed stock rose 22 percent suggesting that a random basket of stocks could make investors richer than in most years over the past decade. That said, much of the exuberance of 2021 has met with the gloom of 2022. Sentiment on Dalal Street this year has been one of pervasive bearishness as aggressive interest rate hikes, slowing economic growth and soaring inflation have taken a toll on investors’ risk appetite. A geopolitical crisis in Europe with the invasion of Ukraine by Russia in late February has further compounded the macroeconomic headaches for investors. The Nifty 500 index, the broadest gauge … [Read more...] about Bears rule 2022 but in some nooks of Dalal Street bulls are rejoicing like it’s 2021

- A + A NEW YORK/BENGALURU (June 24): US stock index futures rose on Friday, as signs of slowing economic growth and falling commodity prices eased expectations over how high the Federal Reserve will raise interest rates to rein in inflation. Fears that aggressive tightening by major central banks will cause a sharp economic downturn have roiled financial markets this month, pushing the benchmark S&P 500 to confirm a bear market or a 20% fall from its recent peak. Data on Thursday showed US business activity slowed considerably in June, driving investors to scale back bets on where interest rates may peak and bring forward their views on the timing of rate cuts. Money markets see US interest rates peaking at around 3.4% by next March, far below the just above 4% priced for June 2023 before last Wednesday's Fed meeting. Copper prices on Friday were set for their biggest weekly fall in a year and other industrial metals also tumbled, while crude oil was headed … [Read more...] about Futures rise as investors scale back rate hike expectations

- A + A NEW YORK/BENGALURU (June 25): Wall Street's main indices soared on Friday (June 24) in a broad rally as signs of slowing economic growth and a recent pullback in commodity prices tempered expectations for the US Federal Reserve's (Fed) rate-hike plans. The S&P 500 rose over 3% for its biggest one-day percentage rise since May 2020. All 11 of the benchmark index's sectors ended at least 1.5% higher. Stocks rebounded this week as financial markets have been roiled over worries that rapid rate hikes by the Fed to rein in 40-year-high inflation could cause a recession. Still, investors have been gauging when the market might hit its bottom after the benchmark S&P 500 earlier this month recorded a 20% drop from its January closing peak, confirming the common definition of a bear market. "In some of the moves, the sellers just get exhausted so you don’t have as much capital moving out," said Shawn Cruz, the head trading strategist at TD Ameritrade. … [Read more...] about Wall Street mints big gains to end strong week

- A + A NEW YORK (June 25): With US stocks on track to mark their worst first half of the year in more than 50 years, investors are studying a range of metrics to determine whether the coming months could bring relief or more of the same. By any stretch, the first half of 2022 (1H22) has been a challenging one for investors. The S&P 500 is down around 18% year-to-date, on track for its worst first half of any year since 1970, according to S&P Dow Jones Indices, as the US Federal Reserve (Fed) tightens monetary policy in its fight against the highest inflation in decades. Bonds, which investors typically count on to counterbalance stock declines in their portfolios, have fared little better: The US bond market, as measured by the Vanguard Total Bond Market Index fund, is down 10.8% for the year to date, putting it on pace for its worst performance in modern history. With investor expectations fluctuating between continued high inflation and an economic … [Read more...] about Bruised US stock investors brace for more pain in 2H22