Representative image Shares slipped and the dollar hung off recent highs on Tuesday as investors eyed U.S. inflation data due a day later that will likely yield clues to any further aggressive Federal Reserve rate hikes. The stakes are high for the July U.S. consumer prices report on Wednesday after an unexpectedly strong U.S. jobs data last week boosted expectations of a sharp interest rate increase to tackle soaring inflation. The broader Euro STOXX 600 fell 0.6%, after logging its best session in nearly two weeks on Monday, with German stocks down 0.7%. Miners and autos, among top gainers a day earlier, led declines on Tuesday. Wall Street futures pointed to slim gains. "The focus is on tomorrow's U.S. inflation numbers and whether or not they are likely to show any indication of a softening of inflationary pressures," said Michael Hewson, chief market analyst at CMC Markets. Close "Are we near the peak, and will tomorrow's CPI numbers reflect that?" … [Read more...] about Stocks stumble as caution reigns ahead of U.S. inflation data
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- A + A KUALA LUMPUR (Aug 9): Bursa Malaysia closed mixed on Tuesday (Aug 9) with the benchmark index ending in the positive territory backed by buying in heavyweights, in sync with the mixed performance in regional bourses. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.65 points to 1,497.68 from Monday’s close of 1,496.03. The benchmark index, which opened 2.49 points higher at 1,498.52 on Tuesday morning, fluctuated between 1,495 and 1,501.03 throughout the trading session. The broader market was negative as losers beat gainers 395 to 373, while 460 counters were unchanged, 1,039 untraded, and eight others suspended. Total turnover increased to 2.52 billion units worth RM1.26 billion from 2.19 billion units worth RM1.33 billion on Monday. Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said investors seemed reluctant to make more significant moves due to the absence of buying catalysts as the market undertone remained jittery … [Read more...] about Bursa ends mixed
Share to Twitter Share to Linkedin Both oil and gas exported from Russia bring in significant revenue that can be used to support the Russian war in Ukraine. But the export revenue from oil sales is much greate r than export revenue from gas sales. If the West stops buying oil this really hurts Russia – more than if the West stopped buying gas. Back in May, the EU agreed to ban all Russian oil imports by the end of 2022, at least those that are delivered by sea. That was a good move. Russia threatens to cut gas supplies to the European Union. Russia has realized that cutting natural gas doesn’t affect their export revenue (like oil does) but it affects the economies of EU countries a lot more. Russia supplied the EU with 40% of its gas last year , with Germany, Italy, and Netherlands the top three importers in actual volumes of gas. Germany had imported more than 50% of its gas from Russia via the Nord Stream 1 pipeline. By the end of June, … [Read more...] about Russia Threatens, EU Reduces, US Industry Helps To Untangle The Natural Gas War In Europe.