Global Markets:
- Asian Stock Markets : Nikkei up 1.69%, Shanghai Composite up 0.83%, Hang Seng down -1.11% ASX up 0.68%
- Commodities : Gold at $3,390.90 (0.23%), Silver at $38.100 (0.08%), Brent Oil at $66.72 (-0.18%), WTI Oil at $63.81 (-0.23%)
- Rates : US 10-year yield at 4.271, UK 10-year yield at 4.6430, Germany 10-year yield at 2.7062
News & Data:
- (USD) Core PPI m/m 0.9% to 0.9% expected
- (USD) PPI m/m 0.2% to 0.2% expected
- (USD) Unemployment Change 224K to 225K expected
Markets Update:
Asian markets traded mixed Friday after hotter-than-expected US producer price data and strong labor figures dampened hopes for a larger September Fed rate cut. Traders also stayed cautious ahead of US-Russia talks on ending the prolonged Ukraine conflict.
Australian shares rose modestly, extending Thursday’s gains, with the S&P/ASX 200 up 0.27% to 8,897.80, led by energy, tech, and banking stocks. Ampol surged nearly 7% after a $1.1 billion acquisition of EG Australia, while Baby Bunting soared 28% on upbeat profit guidance.
Japan’s Nikkei 225 jumped 0.91% to 43,036.46, buoyed by stronger-than-expected Q2 GDP growth of 0.3% quarter-on-quarter and financial sector strength. Big gainers included Mitsubishi UFJ (+5%), SoftBank (+2%), and Sony (+3%). However, Dentsu plunged over 12%.
Other Asian markets were mixed: Hong Kong, Singapore, Malaysia, and Taiwan slipped up to 0.9%, while New Zealand, China, South Korea, and Indonesia posted small gains.
On Wall Street Thursday, stocks fluctuated before closing narrowly mixed. The S&P 500 edged up to a record 6,468.54, the Nasdaq dipped slightly, and the Dow eased 11 points.
In Europe, the FTSE 100 added 0.1%, while the CAC 40 and DAX rose 0.8%.
Crude oil climbed 2.1% to $63.97 ahead of the Alaska meeting between US and Russian leaders. The Aussie dollar traded at $0.649, and the yen hovered in the lower 147 range per US dollar.
Upcoming Events:
- 12:30 PM GMT – USD Core Retail Sales m/m
- 12:30 PM GMT – USD Retail Sales m/m
