City Powell, county Jerome Financial News

Investing.com-- Most Asian stocks rose sharply on Monday, with Chinese shares in the lead after the country rolled out more measures to support its battered equity markets, while focus turned to key indicators from the world's largest economies this week.

Oil prices ticked higher on Monday, along with equity markets, after China took steps to support its flagging economy, though investors remained worried about the pace of growth as well as further U.S. interest rate hikes that could dampen fuel demand. Brent crude rose 22 cents, or 0.3%, to $84.70 a barrel by 0049 GMT while U.S.

Gold prices were flat on Monday as Federal Reserve Chair Jerome Powell's hawkish commentary doused expectations that the U.S. rate-hiking cycle was nearing an end, with investors awaiting economic data this week for confirmation on rate trajectory. FUNDAMENTALS * Spot gold was little changed at $1,915.79 per ounce by 0105 GMT, U.S.

Beijing on Sunday announced it would halve the stamp duty on stock trading in the latest attempt to boost the struggling market and revive investor confidence. The help was needed given profits at China's industrial firms fell 6.7% in July from a year earlier, extending this year's slump to a seventh month. Chinese blue chips shed 2% last week to hit its lows for the year so far, and all eyes will be on the official PMI for August out on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.2%, having eked out minor gains last week to break a three-week losing streak. Japan's Nikkei rose 0.9%, underpinned in part by the persistent weakness of the yen. S&P 500 futures edged up 0.1% and Nasdaq futures 0.2%, extending last week's modest rise. The market did manage to weather a slightly hawkish outlook from Federal Reserve Jerome Powell, who reiterated they might have to raise rates again but promised to move «carefully». «We take this to mean that the FOMC does not intend to hike at the September meeting,» wrote analysts at Goldman Sachs. «We continue to expect that the FOMC will ultimately decide that further policy tightening is unnecessary, making the hike at the July FOMC meeting the last of the cycle.» Futures imply around an 80% chance of a steady outcome at the Sept. 20 meeting, and a 54% probability of a hike by year end. DOWNSIDE RISK ON JOBS Much will depend on the flow of U.S.

dollar eased from a 12-week peak on Monday as traders weighed the U.S. monetary path after the Fed Chair Jerome Powell left open the possibility of further interest rate increases, while the yen hovered close to its lowest in over nine months. In an eagerly awaited speech at the annual Jackson Hole Economic Policy Symposium, Federal Reserve Chair Powell promised to move with care at upcoming meetings as he noted both progress made on easing price pressures as well as risks from the surprising strength of the U.S.

By Wayne Cole

Investing.com-- Oil prices rose slightly in early Asian trade on Monday as focus turned to economic readings from the world’s largest oil importer due this week, with U.S. oil futures within sight of the key $80 a barrel level. 

Indian stock market is likely to open higher on Monday led by positive global cues amid gains in Asian and US peers. This week, investors will eye a host of stock market triggers including the much-awaited annual general meeting (AGM) of oil-to-telecom conglomerate Reliance Industries, macroeconomic data, global cues, and more. In the week gone by, Indian stock market consolidated in a range and settled lower for the fifth successive week, the longest streak since April 2022, amid weak global cues.

Brookfield is looking to grow its $25-billion asset portfolio in the country further, said former central banker Mark Carney, also the UN Special Envoy for climate action and finance. The chair of Brookfield Asset Management and head of transition investing at the firm told Deepshikha Sikarwar & Vinay Pandey in an interview that India has a big opportunity amid global supply chain disruptions. Edited excerpts:The US Federal Reserve chairman has made it clear the central bank is not done with containing inflation. What is your reading of Jerome Powell's statement?My reading of what he emphasised is that the Fed's policy is going to continue to be restrictive for some time.

Further, the current week will also see India's first quarter GDP numbers, which will throw some light on the country's economic trajectory. «We continue to expect the Nifty to be in a narrow range due to lack of positive triggers. In the meantime, niche mid and small cap sectors are likely to remain in action,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a positive startGIFT Nifty on the NSE IX traded 45 points, or 0.23 per cent, higher at 19,282.50, signaling that Dalal Street was headed for positive start on Monday.

By Jamie McGeever

Stocks on Wall Street ended a volatile session higher on Friday as investors digested comments from Federal Reserve Chair Jerome Powell that the U.S. central bank may need to raise interest rates further to ensure inflation is contained.

In recent developments, Bitcoin bulls have propelled the cryptocurrency past the $26,000 threshold, inciting debates about whether now is the opportune moment to invest. 

US jobs data. This week, COMEX Gold prices saw an uptick, marking their first weekly gain in four weeks, even amid a significant surge in the US dollar. Previously, spot gold prices had dipped below the critical $1,900 per troy ounce threshold due to various factors, including US retail sales data and somewhat hawkish Federal Open Market Committee (FOMC) meeting minutes.

By Howard Schneider, Ann Saphir and Balazs Koranyi

Earlier this week, US 10-year yields reached 4.36%, the highest point in over a decade. This comes as part of a medium-term upward trend that began in April of this year, fueled by both fundamental and technical factors.

The global cryptocurrency market cap was trading lower, around $1.05 trillion, falling 1.43% in the last 24 hours. Bitcoin (BTC) fell 1.76% to $26,002, whereas its largest peer, Ethereum, declined nearly 2% to below the $ 1,650 level. Other top crypto tokens, BNB (2%), XRP (2.8%), Cardano (3.1%), Dogecoin (2.7%), Solana (5.5%), Polygon (3.5%), and Shiba Inu (3.2%) were also trading lower on Friday. The crypto market has seen minor selling pressure since yesterday. The crypto fear and greed index has seen some correction as it fell by 2 points since yesterday. The index continues to be in the fear zone with a score of 39/100, Parth Chaturvedi, Investments Lead at CoinSwitch Ventures said.

Jerome Powell could prompt investors to continue booking profits. The week ahead is also eventful for Dalal Street investors from a corporate standpoint.Mukesh Ambani the Chairman of Reliance Industries will address the shareholders at the company’s 46th annual general meeting on Monday, which will be closely tracked by investors. The next big event for the market is the Supreme Court’s hearing on Tuesday in the Adani-Hindenburg case. Volatility is expected to be high in the market, according to experts, given weak global sentiment and domestic events. “Equity markets are expected to remain volatile due to weakness in the external environment,” said Hemant Kanawala, senior EVP and head — equity, Kotak Mahindra Life Insurance Co. While corporate earnings of Indian companies are showing strong growth, valuations aren’t cheap, and there is limited room for them to expand, Kanawala said, adding that investors are likely to get returns in line with earnings growth till the end of the year.RIL AGMIn the last few years, some of the big bang announcements from Ambani have usually come at the AGM.

Gold rate today: Following mixed trend throughout the week as investors were waiting for the final outcome of Jackson Home meeting. However, the yellow metal continue to bounced back from the lower support levels and its crucial ₹58,000 per 10 gm levels on Multi Commodity Exchange (MCX) and $1,900 per ounce levels in international market remained sacrosanct.

Read more Jio Financial Services stock will now be removed from the all the S&P BSE indices, including Sensex, Sensex 50, BSE 100, BSE 500 among others, before opening of trading on September 1. Read more The Securities and Exchange Board of India (Sebi) on Friday informed the Supreme Court that it has concluded 22 out of 24 separate investigations into the Adani group, analysed data on nearly 350 million stock trades, and scrutinized dealings in seven Adani group firms involving tens of thousands of documents.

As Bitcoin sees a 1% surge, speculations arise regarding the potential involvement of whales, given a massive $10 billion injection into BTC.