Stocks subdued, oil weakens on recession fears

Chinese stocks failed to hold onto early gains as growth concerns remained after data showed economic activity and credit expansion slowed sharply in July, prompting the central bank to unexpectedly cut interest rates.On Wall Street, major indexes climbed on Monday, reversing earlier session losses. Shares posted four straight weeks of gains amid optimism over a slowdown in U.S. inflation that could temper the pace of Fed rate hikes.

"We don't think the rally is sustainable. Why? We see the Fed hiking rates to levels that will stall the economic restart," the strategists said.

They reset it soon.

But it's not a recession! /s

Same old song and same old song and dannnnnnnce my friend

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Stocks subdued, oil weakens on recession fearsAsian markets struggled for direction on Tuesday, as they grappled with worries over global growth, following weak Chinese data that knocked oil prices and commodity-linked currencies. Same old song and same old song and dannnnnnnce my friend But it's not a recession! /s They reset it soon.
Source: Reuters - 🏆 2. / 97 Read more »