Marketmind: Oil, yield spike takes wind out of market sails

📆 9/6/2023 1:02 AM
📰 YahooFinanceCA

⏱ Reading Time:
25 sec. here
2 min. at publisher
📊 Quality Score:
News: 13%
Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

Asia is set for a cautious open on Wednesday after a jump in oil prices to their highest level this year and resulting spike in bonds yields on Tuesday helped take some of the froth out of local stock markets that had built up recently. Australia's economy is expected to have grown at a faster quarter-on-quarter rate of 0.3% than the 0.2% registered in the January-March period, and at a 1.8% annual rate, which would be down from 2.3% in Q1. These figures come a day after the Reserve Bank of Australia held its key cash rate on hold at 4.10% for a third month and indicated that its tightening cycle could be over, triggering a sharp sell off in the Australian dollar.

Given their healthy growth prospects and solid underlying businesses, these two TSX stocks would be ideal buys in September. The post Where to Invest $5,000 in September 2023 appeared first on The Motley Fool Canada. -- Brent oil rose above $90 a barrel for the first time since November as the largest OPEC+ producers extended their supply cuts to year-end.

Mexican inflation likely slowed in August for the seventh straight month, with the closely watched core index expected to return to 2021 levels, a Reuters poll showed on Tuesday. Inflation levels, however, are expected to remain above the Bank of Mexico's target range, boosting bets that the central bank will continue to hold its key interest rate at the current level to tame rising prices. The median forecast of 10 analysts surveyed was for annual headline inflation to ease to 4.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia Oil Latest: Trafigura Says Its China Oil Business Is Strong(Bloomberg) -- The outlook for oil prices, crude demand in top importer China, and the longevity of OPEC+ supply cuts are set to be among the key topics at Asia’s biggest gathering of the industry’s traders and executives, which kicked off in Singapore on Monday.Most Read from BloombergDiamond Prices Are in Free Fall in One Key Corner of the MarketMercedes Bets on Range Boost in Swipe at Tesla’s EV LeadershipBurning Man Death Under Probe With Thousands Still StrandedZelenskiy Says He’s Removing
Source: YahooFinanceCA - 🏆 47. / 63 Read more »