Shares Slip in Asia as Oil Climbs, Rate Hikes Loom
Oil prices rose above $106 a barrel as traders priced in higher rates from the Federal Reserve and Bank of Japan, pressuring risk assets.
- On Thursday, the Federal Reserve hiked interest rates by a quarter-percentage point to a target range of 3.75%-4.00%, marking the first increase in three years as Asian shares showed mixed reactions.
- Fed Chair Warsh stressed inflation has been "too high" for "too long," stating the hike removed a "dose of accommodation" to align financial conditions with the central bank's price stability objectives.
- Following the announcement, the two-year U.S. Treasury yield jumped to 4.72% from around 4.67% late Tuesday, while regional Asian indices showed mixed performance as investors digested the policy shift.
- The dollar strengthened against global peers, trading at $1.3375 against the pound and $1.1461 against the euro, as analysts noted the rate increase bolstered the Federal Reserve's credibility on inflation.
- Amid the Middle East crisis, oil prices remain above $100 a barrel while Saudi Arabia works to restore pipeline capacity following attacks, keeping inflationary pressure despite the Fed's tightening move.
359 Articles
359 Articles
Nasdaq hits record high as AI chip rally lifts tech stocks | Honolulu Star-Advertiser
The Nasdaq surged to a record-high close today, lifted by gains in Advanced Micro Devices and other AI heavyweights, while Treasury yields retreated from recent highs and crude prices tumbled to an 11-day low on speculation about a potential breakthrough in Middle East talks at a UN meeting this week.
Hartford Courant
Wall Street pulls within 1% of its record after oil prices and bond yields ease
U.S. stocks are climbing with markets worldwide after oil prices and yields in the bond market gave back some of their jumps from last week.
Stock markets climb worldwide after oil prices and bond yields give back some of last week's jumps
U.S. stocks are climbing with markets worldwide after oil prices and yields in the bond market gave back some of their jumps from last week. The S&P 500 rose 0.6% Monday and pulled within 1.3% of its all-time high set…
Can AI Optimism Offset the Market Shock From Rising Oil Prices?
Global stocks recovered on Monday as stronger evidence of artificial intelligence demand boosted technology shares, while a retreat in oil prices eased some of the pressure that has weighed on global bond markets. MSCI’s All World index rose 0.3%, while European shares gained 0.75%. US stock futures also advanced, with Nasdaq futures up nearly 1% […]
FTSE 100 Live: Stocks to drop after oil losses weigh on BP, Shell
Welcome back to City AM’s FTSE 100 liveblog. The UK’s blue-chip index is set to fall on Monday morning, according to futures from investment platform IG. This would see the FTSE 100 extend the heavy losses it suffered on Friday, when the index closed 1.5 per cent lower. Falling oil prices pushed down BP and [...]
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