• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Stocks, Commodities Rally on China’s Data Beat: Markets Wrap
Finance

Stocks, Commodities Rally on China’s Data Beat: Markets Wrap

September 15, 2023No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Stocks, Commodities Rally on China’s Data Beat: Markets Wrap
Share
Facebook Twitter LinkedIn Pinterest Email

(Bloomberg) — Stocks in Europe climbed and commodities rallied after better-than-expected economic data in China fueled hopes the nation’s stimulus measures are paying off. The euro headed for a record run of weekly declines.

Most Read from Bloomberg

Europe’s Stoxx 600 added 0.8%, following Asian peers higher, after Chinese industrial production and retail sales data beat estimates. Bets that the European Central Bank’s tightening cycle is over sent the euro toward its ninth straight week of losses, the longest run since it was created over two decades ago.

Signs that China’s economy could be on the mend put the Bloomberg Commodity Index on track for its biggest weekly gain in two months. Iron ore rose to the highest since early April and industrial bellwether copper climbed for a third day. Brent crude rose as much as 1% and was on the cusp of a third weekly gain.

Traders’ attention now turns to the Federal Reserve’s rates meeting next week. The dollar edged lower versus most major peers, with the Bloomberg dollar index set to snap eight weeks of gains. Treasury yields ticked higher.

The greenback is losing ground as “the better-than-expected China data certainly gives excuse for profit-taking as we head into the weekend before the FOMC decision,” said Fiona Lim, a senior analyst at Malayan Banking Bhd. in Singapore.

US equity futures trimmed gains as traders watch for fallout from a strike by Detroit carmakers after deadlines for new contracts lapsed. Markets were also braced for Friday’s triple witching options event — which has the potential to trigger volume spikes and volatility.

See also  The High Costs of India’s INSTC Ambitions

The People’s Bank of China kept the interest rate on its one-year medium-term lending facility unchanged and added further cash into markets via a key policy loan for the 10th month to help loosen conditions, a day after it announced another cut to lenders’ reserve requirements.

“The improvement in industrial production and retail sales is encouraging,” said Frances Cheung, a rates strategist at Oversea-Chinese Banking Corp. in Singapore. “Recent economic data point to some stabilization.”

Key events this week:

  • US industrial production, University of Michigan consumer sentiment, Empire Manufacturing index, Friday

Some of the main moves in markets:

Stocks

  • The Stoxx Europe 600 rose 0.8% as of 9:06 a.m. London time

  • S&P 500 futures were little changed

  • Nasdaq 100 futures were little changed

  • Futures on the Dow Jones Industrial Average rose 0.2%

  • The MSCI Asia Pacific Index rose 0.7%

  • The MSCI Emerging Markets Index rose 0.4%

Currencies

  • The Bloomberg Dollar Spot Index was little changed

  • The euro rose 0.2% to $1.0664

  • The Japanese yen fell 0.2% to 147.77 per dollar

  • The offshore yuan rose 0.2% to 7.2749 per dollar

  • The British pound rose 0.2% to $1.2436

Cryptocurrencies

  • Bitcoin was little changed at $26,573.01

  • Ether was little changed at $1,627.86

Bonds

  • The yield on 10-year Treasuries advanced three basis points to 4.31%

  • Germany’s 10-year yield advanced six basis points to 2.65%

  • Britain’s 10-year yield advanced seven basis points to 4.35%

Commodities

  • Brent crude rose 0.5% to $94.18 a barrel

  • Spot gold rose 0.3% to $1,917.12 an ounce

This story was produced with the assistance of Bloomberg Automation.

See also  Nvidia's Frankfurt shares surge as stellar results seen keeping AI rally alive

–With assistance from Andrew Janes.

Most Read from Bloomberg Businessweek

©2023 Bloomberg L.P.

Beat Chinas commodities data Markets Rally Stocks Wrap
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

May 7, 2025

Trump’s Tariffs Trigger Turmoil In China As Country’s Economic Tailspin Intensifies Per New Data

May 6, 2025

‘Exactly What We Want To See’: US Job Growth Beat Expectations For Second Month In A Row

May 2, 2025

China’s Export Economy Under Trump’s Tariff Onslaught The Worst Since COVID

April 30, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Conservatives Suffer at Hands of Voters in English Elections

May 7, 2023

Lawmakers, Tech Firms Called For Regulation Of Artificial Intelligence. Here’s Why It’s Not So Easy

May 20, 2023

Police Official Defends Controversial Photo Op After Killer’s Capture

September 14, 2023

Former NYC Mayor Bill De Blasio Spotted Out With Female Staffer

August 13, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Criminal kills 4 children at daycare in Brazil with hatchet

April 6, 2023

Huge Discrepancy In Jobs Data Could Be Making Biden’s Economy Look Way Stronger On Paper

March 18, 2024

Browns’ Marquise Goodwin Sidelined with Blood Clots in Legs, Lungs

July 24, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.