Market Analysis

OPEC+ Discusses Possible Delay to Oil Output Hike, Delegates Say
  • September 4, 2024

OPEC+ Discusses Possible Delay to Oil Output Hike, Delegates Say

(Bloomberg) -- OPEC+ is discussing a possible delay to an oil output increase planned for October, delegates said, after prices crashed to the lowest since last year.Most Read from BloombergHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatThe Outsized Cost of Expanding US RoadsThe group led by Saudi Arabia and Russia is reconsidering whether to proceed with the scheduled hike of 180,000 barrels a day, according to officials involved in th

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Goldman Sachs sees biggest boost to US economy from Harris win
  • September 4, 2024

Goldman Sachs sees biggest boost to US economy from Harris win

Under a Republican sweep, or even with a divided government led by Donald Trump, economic output would take a hit next year, mostly from increased tariffs on imports and tighter immigration policies, Goldman said in a note late on Tuesday. Job growth under a Democrat government would also likely be stronger than under the Republicans, Goldman said.

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Australia economy stuck in slow lane, household spending drags
  • September 4, 2024

Australia economy stuck in slow lane, household spending drags

Australia's economy stayed stuck in the slow lane in the June quarter as stiff borrowing costs and stubborn inflation squeezed consumers, leaving government spending as the main driver of growth. Data from the Australian Bureau of Statistics on Wednesday also revealed that domestic price pressures were still running high, underscoring the central bank's reluctance to cut rates anytime soon even though markets are wagering on a December policy easing.

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Raise taxes on the rich or cut them? Harris, Trump differ on how to boost the US economy
  • September 4, 2024

Raise taxes on the rich or cut them? Harris, Trump differ on how to boost the US economy

Donald Trump is betting that Americans crave trillions of dollars in tax cuts — and that growth will be so fantastic that it's not worth worrying about budget deficits. In short, he's hoping that most economic analyses of his ideas are dead wrong. Vice President Kamala Harris believes that big corporations and the ultra-wealthy should pay more in taxes — and wants to use those revenues to help spur the construction of 3 million homes and offer tax breaks for parents.

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Australia’s Economy Stays Subdued as Consumers Cut Spending
  • September 3, 2024

Australia’s Economy Stays Subdued as Consumers Cut Spending

(Bloomberg) -- Australia’s economic weakness persisted in the three months through June as consumers hunkered down in the face of elevated borrowing costs and stubbornly sticky inflation.Most Read from BloombergHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatGross domestic product advanced 0.2% from the prior quarter, helped by government spending and matching economists’ estimate, official data showed Wednesday. From a year earlier, gro

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Brazilian Oil Giant Petrobras Taps Global Markets for Dollar Bond Sale
  • September 3, 2024

Brazilian Oil Giant Petrobras Taps Global Markets for Dollar Bond Sale

(Bloomberg) -- Brazil’s state-controlled oil producer Petroleo Brasileiro SA tapped global bond markets to borrow $1 billion, joining a wave of sales by other emerging-market companies and governments.Most Read from BloombergHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatPetrobras sold dollar-denominated notes due in 2035, according to people familiar with the matter, who asked not to be identified because they’re not authorized to spea

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Emerging-Market Assets Drop as Investors Wait for Fed Rate Clues
  • September 3, 2024

Emerging-Market Assets Drop as Investors Wait for Fed Rate Clues

(Bloomberg) -- Emerging-market assets fell for a second day amid a rout in commodity prices and with traders focused on a slew of economic data that will provide more clues on the Federal Reserve’s rate-cut path.Most Read from BloombergHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatGauges for emerging-market stocks and currencies extended losses after US manufacturing activity shrank in August for a fifth month, reflecting faster rates

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Stock market today: Markets headed for losses at open ahead of key US jobs report later this week
  • September 3, 2024

Stock market today: Markets headed for losses at open ahead of key US jobs report later this week

Shares of U.S. Steel tumbled 4.4% after Vice President Kamala Harris told a crowd in Pennsylvania on Monday that she opposed the company's planned sale to Japan's Nippon Steel. The Democratic presidential nominee's comments, which echo President Joe Biden's position, came after Nippon Steel Corp. said last week it would spend an additional $1.3 billion to upgrade facilities in Pennsylvania and Indiana, on top of a previous $1.4 billion commitment. Boeing's contract with the International Association of Machinists is set to expire just before midnight on Sept. 12.

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