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Asian shares gain as Treasuries find support
  • May 22, 2025

Asian shares gain as Treasuries find support

SYDNEY (Reuters) -Asian shares gained on Friday as beaten-down Treasuries found buyers after U.S. President Donald Trump's tax bill narrowly passed the lower house, although debt worries still dominated. Nasdaq futures and S&P 500 futures were both flat. The Republican-controlled U.S. House voted by a slim margin to pass Trump's tax cut bill, which would fulfil many of his campaign pledges, but will increase the $36.2 trillion U.S. debt pile by $3.8 trillion over the next decade.

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Oil heads to first weekly loss since April on OPEC+ supply hike prospect
  • May 22, 2025

Oil heads to first weekly loss since April on OPEC+ supply hike prospect

SINGAPORE (Reuters) -Oil prices dropped for a fourth consecutive session on Friday and were set for their first weekly decline in three weeks, weighed down by renewed supply pressure from another possible OPEC+ output hike in July. Brent futures fell 48 cents, or 0.8%, to $63.96 a barrel by 0635 GMT. Both contracts touched their lowest in more than one week on Thursday after a Bloomberg News report that OPEC+ was considering another large production increase at a meeting on June 1.

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Japan's core inflation hits more than 2-year high, could force year-end BOJ hike
  • May 22, 2025

Japan's core inflation hits more than 2-year high, could force year-end BOJ hike

The data underscores the Bank of Japan's predicament of balancing price pressures from persistent food inflation against growth headwinds from U.S. President Donald Trump's tariffs. The core consumer price index (CPI), which excludes fresh food but includes oil prices, rose 3.5% in April from a year earlier, exceeding market forecasts for a 3.4% gain and accelerating from a 3.2% increase in March. "Underlying inflation remained strong in April despite the slashing of public high school fees," said Marcel Thieliant, head of Asia-Pacific at Capital Economics.

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Ackman's hedge fund Pershing Square bets on Amazon, exits Canadian Pacific
  • May 22, 2025

Ackman's hedge fund Pershing Square bets on Amazon, exits Canadian Pacific

NEW YORK (Reuters) -Billionaire investor Bill Ackman told clients on Thursday that his hedge fund bought Amazon shares last month, betting earnings will continue to grow at the online retailer as President Donald Trump's tariffs bite less than consumers initially feared. Ackman and his investment team updated clients on additions to the portfolio at his hedge fund, Pershing Square Capital Management. "The most substantial move is Amazon," chief investment officer, Ryan Israel, said on a conference call.

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Selloff on nervy hold
  • May 22, 2025

Selloff on nervy hold

Investors drew breath on Thursday from the recent selling across markets fueled by weakness in long-dated government debt, and pushed up stocks, the dollar and bond prices. There is no shortage of economic fundamental reasons to be bearish in the long term, but perhaps the recent selling has gotten a little excessive. U.S. says it agreed with Japan that dollar-yen reflectsfundamentals 2.

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Why Are Coinbase (COIN) Shares Soaring Today
  • May 22, 2025

Why Are Coinbase (COIN) Shares Soaring Today

Shares of blockchain infrastructure company Coinbase (NASDAQ:COIN) jumped 6.6% in the afternoon session after stocks tied to digital assets surged as Bitcoin, the world's largest cryptocurrency by market cap, reached a new all-time high, edging past the $110,000 mark.

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