Stocks and bonds retreated as a tech-fueled bounce faded and investors went back to worrying about risks from inflation to bond volatility. US stock futures dropped with Europe’s Stoxx 600 benchmark as tech shares gave up some of Monday’s rally. Shares and bonds of Spanish blood plasma firm Grifols SA tumbled after short seller Gotham … Read more
Oil rose after Iran sent a warship to the Red Sea in response to the US Navy’s sinking of three Houthi boats over the weekend, adding to regional tensions as ships continue to avoid the key waterway. Brent crude climbed above $78 a barrel after declining by 5% over the prior three sessions, with West … Read more
Like his immediate predecessor, Kuwait’s new ruler is taking over in his 80s and will be confronted with the same economy-hobbling political dysfunction that has for years doomed reforms. But there are differences in this succession as well as similarities, and how they play out will help dictate whether 83-year-old Emir Sheikh Mishaal Al-Ahmed Al-Jaber … Read more
The COP28 climate summit in Dubai entered its final two days as Sultan Al Jaber, the Emirati oil executive who’s presiding over this year’s talks, sought to produce a text that would include a commitment to reduce the world’s consumption of oil and gas for the first time. Early on Monday, negotiators were awaiting a … Read more
Good morning. Oil holds drop amid vague output cut plan by OPEC+, it was a strong month for US stocks and HPS Investment confidentially filed for IPO. Here’s what people are talking about. Oil steadied after tumbling on Thursday following an OPEC+ meeting that promised further output cuts but was hazy on the details. The … Read more
Good morning. High-stakes OPEC+ meeting, a bond rally that traders desperately need and Musk swings expletives at advertisers. Here’s what people are talking about. OPEC+ continued talks to resolve a deadlock on oil quotas — and potentially take further steps to shore up flagging crude prices — on the eve of its ministerial meeting. Group … Read more
European stocks climbed, buoyed by China’s latest stimulus measures and wagers US interest rates may be approaching a peak. The Stoxx 600 gauge rose 0.7%, halting three days of losses. Futures in the US also advanced after the S&P 500 Index’s best week since June. Crude prices steadied near the highest level since November as … Read more
Good morning. Stocks vs bonds, an overhaul in Ukraine’s defense ministry and oil extends its rally. Here’s what people are talking about. This year’s US stock market rally is strong enough to withstand another leg higher for bond yields, according to the latest Markets Live Pulse survey. With the soft-landing narrative for the world’s biggest … Read more
Britain’s housing market is in the dumps, as if you hadn’t noticed, but at least it’s transactions that are tumbling rather than prices. Bank of England mortgage approvals figures this morning were a sobering reminder that the housing market is drying up. Lenders approved 10% fewer home loans in July than June, considerably worse than … Read more
Iraq revalued its currency just over two weeks after replacingBloomberg Terminal the central bank governor as part of an effort to stabilize the foreign exchange market. The cabinet on Tuesday approved a decision to set the exchange rate at 1,300 dinars per US dollar, according to a tweet on Prime Minister Mohammed Shia Al-Sudani’s office … Read more