Quick Telecast
Expect News First

ASX set to open lower; US markets mixed

0 100



Higher yields are at the head of a long line of concerns weighing on Wall Street. Not only have oil prices jumped by $US20 per barrel since June, economies around the world are looking shaky. The resumption of U.S. student-loan repayments may also weaken what’s been the U.S. economy’s greatest strength, spending by households.

In the near term, the U.S. government may be set for another shutdown amid more political squabbles on Capitol Hill. But Wall Street has managed its way through previous shutdowns, and “history shows that past ones haven’t had much of an impact on the market,” according to Chris Larkin, managing director of trading and investing at E-Trade from Morgan Stanley.

On Wall Street, Amazon rose 1.7 per cent and was the strongest single force pushing up on the S&P 500. The company announced an investment of up to $US4 billion ($6.2 billion) in Anthropic, as it takes a minority stake in the artificial intelligence startup. It’s the latest Big Tech company to pour money into AI in the race to profit from opportunities that the latest generation of the technology is set to fuel.

Stocks of media and entertainment companies were mixed after unionised screenwriters reached a tentative deal on Sunday to end their historic strike. No deal yet exists for striking actors.

Netflix rose 1.3 per cent, while The Walt Disney Co. slipped 0.3 per cent. Warner Brothers Discovery dropped 4 per cent for the day’s largest loss in the S&P 500.

Also on the losing end of Wall Street were stocks of travel-related companies, which slumped under the weight of worries about higher fuel costs. Southwest Airlines sank 2 per cent, and Norwegian Cruise Line fell 3.1 per cent.

Loading

In stock markets abroad, indexes slumped across Europe and much of Asia. France’s CAC 40 fell 0.8 per cent, and Germany’s DAX lost 1 per cent.

In China, troubled property developer China Evergrande sank nearly 22 per cent after announcing it was unable to raise further debt due to an investigation into one of its affiliates. That might imperil plans for restructuring its more than $US300 billion in debt.

China’s faltering economic recovery has already removed a big engine of growth for the world.



Higher yields are at the head of a long line of concerns weighing on Wall Street. Not only have oil prices jumped by $US20 per barrel since June, economies around the world are looking shaky. The resumption of U.S. student-loan repayments may also weaken what’s been the U.S. economy’s greatest strength, spending by households.

In the near term, the U.S. government may be set for another shutdown amid more political squabbles on Capitol Hill. But Wall Street has managed its way through previous shutdowns, and “history shows that past ones haven’t had much of an impact on the market,” according to Chris Larkin, managing director of trading and investing at E-Trade from Morgan Stanley.

On Wall Street, Amazon rose 1.7 per cent and was the strongest single force pushing up on the S&P 500. The company announced an investment of up to $US4 billion ($6.2 billion) in Anthropic, as it takes a minority stake in the artificial intelligence startup. It’s the latest Big Tech company to pour money into AI in the race to profit from opportunities that the latest generation of the technology is set to fuel.

Stocks of media and entertainment companies were mixed after unionised screenwriters reached a tentative deal on Sunday to end their historic strike. No deal yet exists for striking actors.

Netflix rose 1.3 per cent, while The Walt Disney Co. slipped 0.3 per cent. Warner Brothers Discovery dropped 4 per cent for the day’s largest loss in the S&P 500.

Also on the losing end of Wall Street were stocks of travel-related companies, which slumped under the weight of worries about higher fuel costs. Southwest Airlines sank 2 per cent, and Norwegian Cruise Line fell 3.1 per cent.

Loading

In stock markets abroad, indexes slumped across Europe and much of Asia. France’s CAC 40 fell 0.8 per cent, and Germany’s DAX lost 1 per cent.

In China, troubled property developer China Evergrande sank nearly 22 per cent after announcing it was unable to raise further debt due to an investigation into one of its affiliates. That might imperil plans for restructuring its more than $US300 billion in debt.

China’s faltering economic recovery has already removed a big engine of growth for the world.

FOLLOW US ON GOOGLE NEWS

Read original article here

Denial of responsibility! Quick Telecast is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment
Ads Blocker Image Powered by Code Help Pro

Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.

buy kamagra buy kamagra online