Stocks Set for Losses as Economy, War Fears Deepen

-- Asian markets are poised for losses on Monday as fears of a deeper economic slowdown unnerve traders also bracing for more volatility from rising tensions in the Middle East.A Radical Fix for Britain’s Housing Crisis: A New Offshore City

US nonfarm payrolls rose by 114,000 in July — one of the weakest prints since the pandemic — and job growth was revised lower in the prior two months. The jobless rate unexpectedly climbed for a fourth month to 4.3%, above the Federal Reserve’s year-end forecast, triggering a closely watched recession indicator.

“With the unemployment rate above and core PCE inflation now below the Fed’s year-end forecasts, we believe that the balance of risks favors more aggressive action by the Fed,” said Brian Rose, a senior US economist at UBS Group AG’s wealth management unit. “We are changing our base case to rate cuts of 50 basis points in September and 25 basis points each in November and December” after previously just seeing half that amount by year-end, he wrote in a note to clients.

“Better data this week could provide some confidence to a bond market that is grossly overbought and offer reassurances to equity and credit,” Chris Weston, head of research at Pepperstone Group wrote in a note to clients. The Northern Territory Government and Vopak sign MoU to cooperate on common user CO2 infrastructure hub in Australia 5 August 2024, Australia On 31 July 2024, the Northern Territory Government and Vopak signed a memorandum of understanding , to develop a common-user infrastructure including a CO2 import terminal in the Middle Arm Sustainable Development Precinct - Northern Territory, Australia.

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.

Market bloodbath: Cryptos, stocks, silver, and oil post losses, gold shines brightThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Markets today: Stocks extend losses as worries go beyond AI frothA wave of earnings misses and worries about U.S. economic growth are driving losses across global markets, adding extra fuel to a selloff that was first sparked by traders pulling out of megacap tech.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stock market news today: Stocks slip en route to sharp weekly losses for S&P 500, NasdaqStocks are facing another rough ride after a global IT outage hit businesses worldwide, with weekly losses in play.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stocks, chipmakers eager to claw back losses at market openUS stocks (DJI, IXIC, GSPC) open Thursday's session mixed, with the Nasdaq Composite ready to recoup its losses from yesterday's chip stock selloff. Seana...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Morgan Stanley says glum profit view to dent economy-tied stocksA dimmer outlook for U.S. corporate earnings is likely to hurt stocks that are tied to the economy, as investors worry about the impact of falling inflation on pricing power, according to Morgan Stanley’s Michael Wilson.
Source: BNNBloomberg - 🏆 83. / 50 Read more »