U.S. national security advisor Jake Sullivan said he raised concerns about the country’s focus on economic security in meetings with Chinese officials.
Archiv für den Monat: August 2024
China’s electric car race is becoming more about chip prowess as companies focus on tech
Price wars aside, Chinese electric car companies are now competing on driver-assist and other tech powered by semiconductors.
Biden and Xi to speak after rare U.S. security advisor trip to China
The announcement came amid U.S. national security advisor Jake Sullivan’s trip to Beijing this week to meet with Wang Yi, China’s top diplomat.
401(k) auto-enrollment features don’t help savings as much as expected, study finds
Academics who helped pioneer research on 401(k) auto-enrollment find effects such as leakage blunt its long-term impact.
American Eagle saw profits grow nearly 60% as costs come down
American Eagle missed sales targets for a second quarter in a row but its profits were 60% higher as inflationary costs begin to tick down.
Best Buy shares jump on profit beat and guidance hike
Best Buy now expects to see full-year adjusted earnings per share in the range of $6.10 to $6.35, up from a prior range of $5.75 to $6.20.
Dollar General shares crater 20% as retailer cuts outlook, blaming ‚financially constrained‘ customers
The discount retailer slashed its guidance for full-year same-store sales and profit.
Nvidia shares fall despite earnings beating estimates
Nvidia shares fell on Thursday despite its fiscal second-quarter results beating estimates.
Why Cramer advises against running out to buy Nvidia’s post-earnings stock dip
Nvidia’s financials released after Wednesday’s close weren’t quite the $4 billion „Triple Lindy“ of upside many investors were hoping for.
Forexlive European FX news wrap 29 Aug – Euro moves lower on soft German inflation figures
- The AUD and NZD continues to lead the majors on the upside
- US sees limited scope for nuclear talks with China
- Equity futures putting in a solid run so far today
- Eurozone economic sentiment 96.6 vs 95.8 expected
- China’s Xi says committed to stable relationship with US based on win-win cooperation
- Rate pricing for the ECB largely unchanged after the German statewide CPI data
- EURUSD trades back below 1.11 after German statewide CPI
- German Bayern YY 2.1% vs 2.5% prior
- Remy Cointreau Pernod Ricard shares surge 8% after China skips brandy tariffs
- China’s Commerce Ministry opts against anti-dumping measures on EU brandy
- Riksbank’s Bunge says economy is in a mild recession
- Spanish flash HICP YY 2.4% vs 2.5% expected
- What are the main events for today?
- Today’s FX option expiry levels for the NY cut
- Swedish GDP YY 0.5% vs 0.0% expected
- Ukraine strikes oil and artillery depots in Rostov Kirov and Voronezh regions
- Japan consumer confidence index 36.7 vs 36.7 prior
- Risk sentiment leaning slightly positive head of the cash open
- NZDUSD tests close to 0.63 after earlier NZ data
- Finally a day with a bit more excitement on the calendar
Markets:
- NZD leads, EUR lags on the day
- European equities higher;
S&P 500 futures up 0.18% - US 10-year yields down 1 bps to 3.829%
- Gold up 0.75% to $2,522
- WTI
crude up 0.32% to $74.76 - Bitcoin
up 1.63% to $60,005
It was a more lively session today with some notable moves in the FX and equity markets. The EUR has been the most notable mover in the FX space as the single currency fell on soft German statewide CPI figures. Note though, that the market’s pricing for ECB rates was unchanged.
In the equity space, we’ve seen the S&P 500 and the Nasdaq erasing most of yesterday’s weakness although the lack of catalysts will likely keep the price action rangebound until next week.
Overall though, there wasn’t any notable news release or development in the macro or geopolitical space and we keep waiting for next week where we will get many top-tier economic data including the NFP report.
The attention will now switch to the US jobless claims figures where we will likely need initial claims to spike above the 260K level to trigger a big market reaction.
This article was written by Giuseppe Dellamotta at www.forexlive.com.