July 18, 2024

Westside People

Complete News World

Asian markets are falling. The Chinese economy grew by 6.3%, missing expectations

Asian markets are falling.  The Chinese economy grew by 6.3%, missing expectations

23 minutes ago

China keeps the interest rate on medium-term loans unchanged at 2.65%.

China’s central bank kept the medium term Loan rates unchanged at 2.65%, after the People’s Bank of China launched 103 billion yuan ($14.43 billion) of one-year medium-term lending facility loans at that rate.

The central bank said this would fully meet the monetary demands of financial institutions and maintain “reasonable and sufficient liquidity in the banking system”.

The People’s Bank of China (PBOC) also conducted a reverse repo of 33 billion yuan through a seven-day reverse repo, at a fixed rate of 1.9%.

– Lim Hwi Ji

one hour ago

China’s GDP in the second quarter grows by 6.3%, which is slower than expected

China’s GDP in the second quarter grew 6.3% year-on-year, missing expectations from a 7.3% forecast by analysts polled by Reuters.

The GDP reading of 6.3% for the second quarter posted a 0.8% growth pace from the first quarter, slower than the 2.2% qoq pace recorded in the first three months of the year.

Separately, the unemployment rate for youth ages 16-24 was 21.3% in June, a new record.

– Evelyn Cheng

one hour ago

Hong Kong is likely to cancel all trading sessions for Monday

Hong Kong’s markets are likely to be closed throughout Monday, after the city’s observatory predicted that a Typhoon Talim warning would remain in effect until 4 p.m. HKST.

the The Hong Kong Stock Exchange is usually canceled Morning trading sessions if hurricane signal #8 or higher is after 9 am, and all trading sessions for the day will be canceled if signal #8 or higher remains in effect by noon.

– Lim Hwi Ji

2 hours ago

Singapore’s non-oil domestic export contracts for the ninth consecutive month

Singapore’s non-oil domestic exports fell 15.5% year-on-year in June, marking the ninth consecutive month that these exports remained in contraction territory.

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This was a deeper decline than the 14.8% drop recorded in May, but just short of the 15.8% decline expected by economists polled by Reuters.

Singapore Project, Singapore Enterprise Development Agency I made it clear The decline in non-oil domestic exports was due to weak exports to Malaysia, Indonesia and South Korea, although exports to Hong Kong and China rose.

– Lim Hwi Ji

3 hours ago

CNBC Pro: ‘Bullish Red’: This high-growth global tech fund’s stock could soar 180%, Berenberg says

According to Berenberg, shares of a venture capital fund focused on the high-growth technology sector could rise more than 180%.

The bank’s analyst said that even if the venture capital fund’s portfolio saw no growth and was valued at a 20% discount compared to its peers, it would still point to an upside of 54%.

CNBC Pro subscribers can read more here.

– Ganesh Rao

3 hours ago

CNBC Pro: UBS has updated its “Highest Condemned” stock list — and aims to beat a major index

UBS launched a group of US and global stocks that it said are set to outperform a major index in 2023, which it described as the year of “tipping points.”

The stock picks are names of “highest conviction,” the Swiss bank said in a July 11 research note, and the list aims to beat the MSCI All Country World Index, adding that it has not “shyed away from taking some contrarian positions.”

CNBC Pro subscribers can read more here.

– Lucy Handley

Friday, July 14, 2023, 3:48 PM EST

Global headline inflation appears to have peaked, says the International Monetary Fund

Among the G20 countries, headline inflation appears to have peaked, according to International Monetary Fund. However, in most of the G20 countries, especially the advanced economies, core inflation remains well above central bank targets.

“In the fight against inflation, there are some early signs of monetary policy turning active, with bank lending standards tightening in the eurozone and the US. However, policymakers should avoid ‘early celebrations’: lessons from previous periods of inflation show that International Monetary Fund Managing Director Georgieva said in a note on Friday that easing policy too soon could reverse progress on inflation.

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The International Monetary Fund expects global growth to decline in the medium term by about 3%, below the historical average of 3.8% during the period from 2000 to 2019.

– Hakyung Kim

Friday, July 14, 2023, 12:48 PM EST

Investors are counting on the market’s bullish momentum in the coming week as earnings fall

Stocks could continue to gain momentum in the week ahead as traders turn their attention to earnings results after last week’s weak inflation news.

Major indices headed for a positive week on Friday after encouraging consumer and wholesale inflation in June boosted the possibility that the Federal Reserve is nearing the end of its rate hike campaign. Traders see 95% confidence that the Fed will raise at the central bank meeting in July, according to the CME Group’s FedWatch tool. They are 81% sure that the Fed will sit still in September.

“I think the Fed is kind of locked in to another increase,” said Rob Williams of Sage Advisory. “But looking at this inflation data, I think it’s kind of one and done.”

CNBC Pro subscribers can read the full story here.

– Sarah Maine

Friday, July 14, 2023, 1:51 PM EST

More than a third of Friday’s 52-week highs in the S&P 500 are all-time records

More than a third of the 32 stocks that hit 52-week highs in the S&P 500 on Friday are also trading at all times. Three of the 32 (JPM, V, CRM) are also in the Dow Jones Industrial Average. Three of the all-time highs are home builders. Then there’s Nvidia, of course:

  • Netflix is ​​trading at its highest level since February 2022
  • Booking Holdings, trading at a record high dating back to its 1999 IPO
  • Dr. Horton, an all-time high in the 1992 IPO
  • Lennar, an all-time high since trading began in 1971
  • PulteGroup, trading at an all-time high since its initial public offering in 1972
  • CBOE Holdings, an all-time high dating back to its 2010 IPO
  • Intercontinental Exchange, the highest level since April 2022
  • JPMorgan (JPM), the highest level since February 2022
  • Moody’s, the highest level since February 2022
  • S&P Global, the highest since April 2022
  • The visa is the highest since August 2021
  • Align Technology, the highest level since April 2022
  • Cooper comp, the highest since April 2022
  • DexCom, the highest since December 2021
  • IDEXX coefficient, the highest since April 2022
  • Intuitive Surgery, the highest since January 2022
  • Steris, the highest level since June 2022
  • Copart, all-time high IPO 1994
  • Masco, the highest level since February 2022
  • Rollins Inc., the highest level since 1968 began trading
  • Adobe, the highest since February 2022
  • Ansys, the highest level since January 2022
  • Cadence Design Systems, all the time since predecessor ECAD went public in 1987
  • Salesforce.com, the highest since February 2022
  • Fortinet, an all-time high dating back to the 2009 IPO
  • Gartner, the highest level since November 2021
  • ServiceNow, the highest level since March 2022
  • NVIDIA, the highest level ever since its 1999 IPO
  • on semiconductors, the highest level ever since the 2000 IPO
  • Teradyne, the highest level since April 2022
  • Sherwin-Williams, the highest since June 2022
  • Equinix, the highest level since January 2022
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Meanwhile, only five stocks fell to 52-week lows in the S&P 500 on Friday, none of which made a rally, though AT&T touched a 20-year low:

– Scott Schneiber, Christopher Hayes