Asia stocks wobble as OPEC+ output cuts, weak US data raise uncertainty

  • 📰 Reuters
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Asian stocks dithered on Tuesday as investors grappled with inflation concerns in the wake of the surprise cuts to the OPEC+ group's oil output targets, while treasury yields retreated after frail U.S. manufacturing sector data.

dropped 6.1% after disclosing March-quarter deliveries rose just 4% from the previous quarter, even after CEO Elon Musk slashed car prices in January to boost demand.

Treasury yields retreated after the U.S. manufacturing data, which increased expectations for some investors the Fed will cut rates later this year as the economy slows. Separate data also showed U.S. construction spending weakened in February. The two-year yield , which rises with traders' expectations of higher Fed fund rates, touched 3.9841% compared with a U.S. close of 3.98%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

But US stocks going to Mars

I'm ready, burn it all down

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:

 /  🏆 2. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Asian Stock Market: Trades mixed as NFP week begins with OPEC+ surpriseMarket sentiment in the Asia-Pacific region remains mixed as traders struggle to cheer receding hawkish Fed bets amid fresh inflation fears emanating
Source: FXStreetNews - 🏆 14. / 72 Read more »

Stock Market Today: Dow up 300 points as energy shares jump after OPEC+ oil production cutsMarketWatch Live: Dow up 300 points as OPEC+ quota cut ignites energy shares This is great news! Oil prices will likely come down, which will benefit consumers in the long run.
Source: MarketWatch - 🏆 3. / 97 Read more »