Asian stocks were mixed as traders awaited the Federal Reserve's summer conference for indications on inflation control and interest rate hikes, with investors warned of potential surprises.
Summary: U.S. markets closed mixed on Tuesday as the Nasdaq saw slight gains thanks to tech stocks while financials dragged on other indexes after major U.S. banks were hit with another downgrade from a credit rating agency. Meanwhile, China took steps to stabilize its currency amid weakening economic conditions and deteriorating credit conditions.
Gulf stock markets ended mixed as China's measures to support its markets provided some relief, while energy market volatility weighed on sentiment.
Global markets show mixed performance, with Japan, China, Hong Kong, India, and Australia experiencing modest gains, while the US markets closed higher fueled by optimism over a possible pause in interest-rate hikes, as oil prices extend gains and gold prices remain near three-week highs.
Asian stocks wrapped up a mixed August with robust weekly gains as renewed risk appetite was fueled by actions taken by Beijing to shore up the economy, while China will begin the week assessing the damage from Typhoon Saola.
Summary: The US markets ended mixed after the release of the latest jobs report data, with the economy adding 187,000 jobs in August but seeing an increase in unemployment, while in Asia, Japan's Nikkei 225 closed higher, Australia's S&P/ASX 200 was down, and China's Shanghai Composite and Shenzhen CSI 300 declined. Additionally, European markets saw declines, and commodities such as crude oil, natural gas, gold, silver, and copper experienced varying price movements.
Oil prices ease in Asia as concerns over slow demand from China outweigh fears of tighter supply due to output cuts by Saudi Arabia and Russia.
Oil prices rose in early Asian trade after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year, leading to concerns about a supply shortage and higher oil prices worldwide.
Asia-Pacific equity markets finished mixed, with Australia's ASX All Ordinaries and South Korea's KOSPI falling, while Taiwan's TAIEX and Hong Kong's Hang Seng declined slightly; European markets are flat to lower, and U.S. equity futures point to a lower open.
Asia-Pacific markets were mostly lower on Thursday, following a sell-off on Wall Street and as investors assess trade data from China and Australia, with Chinese imports and exports falling less than expected.
European stock markets traded mixed as investors analyzed UK jobs and Spanish inflation data ahead of the upcoming European Central Bank meeting, while oil prices rose amid anticipation of the monthly OPEC report and Chinese demand forecasts.
Stocks finished mixed on Wednesday as investors awaited consumer inflation data that could impact the Federal Reserve's future policy decisions. The Dow Jones fell 0.2%, the S&P 500 increased 0.1%, and the Nasdaq Composite climbed 0.3% after a previous decline. The Consumer Price Index showed a higher-than-expected increase in inflation, driven by rising energy prices, which could influence the Fed's decision on interest rates. The market also had its eyes on the Arm IPO and developments involving Apple and China. Meanwhile, the EU launched an investigation into China's subsidies for EV makers.
European markets were mixed as investors awaited the U.S. Federal Reserve's monetary policy meeting and assessed the central banks' stance on inflation, with retail stocks making the biggest losses while autos and oil and gas were up.
