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

📆 06/09/2023 02:02:00
📰 YahooFinanceCA

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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.

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