One of the most important bull thesis for crude in 2023 is that China, having permanently shelved its zero Covid policies, will unleash a global buying spree as the Chinese economy sharply roars back to life.
Japan’s inflation accelerated beyond 4% to set a fresh four-decade high, underscoring the challenges lying ahead for Bank of Japan Governor nominee Kazuo Ueda just before his first major public appearance since he was tapped by the government.
Asia stocks are primed for a cautious open after US shares fell, weighed down by Federal Reserve meeting minutes that underscored the central bank’s hawkish outlook and prompted investors to increase forecasts for interest rate hikes.
While the Jan. 31-Feb. 1 meeting concluded with a smaller rate hike than most of those implemented since early 2022, officials stressed that their concern over inflation is high.
Japans Nikkei 225 share index will hit the psychological 30,000 level by end-2023 on a better domestic corporate and global economic outlook in the latter part of the year, according to strategists in a Reuters poll.
Expensive US equities are flashing a warning sign that could see the S&P 500 sliding as much as 26% in the first half of this year
On the economic data side, all eyes will be on the Personal Consumption Expenditures (PCE) price index — the Feds most closely watched assessment of how quickly prices are rising across the economy — which is set for release Friday morning.
US equity-index futures fell as concern the Federal Reserve will keep borrowing costs higher for longer outweighed optimism over China’s economic recovery.
il prices were little changed in early Asian trade on Monday, after settling down $2 a barrel on Friday, as rising supplies in the United States and forecasts of more interest rate hikes cooled optimism over Chinas demand recovery.
Dow Jones futures were little changed Sunday night, along with S&P 500 futures and Nasdaq futures. A possible Tesla lithium deal and upcoming Nvidia earnings are in focus.
Apple supplier Foxconn announced the creation of a major new factory in Vietnam and a $300 million investment to expand its current operations in the country. The decision comes as Apple attempts to move parts of its manufacturing process out of China.
As Americans credit card balances soared at the end of 2022, delinquencies started to creep up as well.
It’s as if investors aren’t concerned about inflation and higher interest rates anymore. Strength in the U.S. economy — which would imply further rate hikes — has been translating into gains in the markets.
Barclays on Friday raised its global growth forecast to 2.2% in 2023, up 0.5 percentage points from its last estimate in mid-November.
hina’s central bank added more cash into the financial system to meet a rapid rebound in loan demand after the nation eased Covid restrictions. Most Read from BloombergNew Cars Are Only for the Rich Now as Automakers Rake In ProfitsGunman Kills Three at M
