BERLIN (Reuters) -Inflation fell in six important German states in August due to lower energy prices, preliminary data showed on Thursday, suggesting Germany's national inflation rate could decline noticeably this month. In Saxony, the inflation rate fell in August to 2.6% from 3.1% in the previous month, in Brandenburg it fell to 1.7% from 2.6%, in Baden-Wuerttemberg it fell to 1.5% from 2.1%, in Hesse it fell to 1.5% from 1.8% and in Bavaria it fell to 2.1% in August from 2.5% in July. The inflation rate in North Rhine-Westphalia, Germany's most populous state, fell to 1.7% in August from 2.3% in July.
Nvidia's forecast dampens AI enthusiasm in other tech stocks
(Reuters) -Nvidia dragged technology heavyweights lower after the chip maker's earnings disappointed investors who had been hoping they would fuel fresh gains in Wall Street's most valuable companies, and sent stocks in Asia down on Thursday. Nasdaq futures initially dropped about 1% following Nvidia's quarterly earnings report late Wednesday, suggesting traders expected tech stocks to lose ground. Nvidia dropped almost 7% and lost $200 billion in stock market value after it forecast third-quarter gross margins that could miss market estimates and revenue that was largely in line.
Japan stocks lower at close of trade; Nikkei 225 down 0.05%
Investing.com – Japan stocks were lower after the close on Thursday, as losses in the Paper&Pulp, Mining and Chemical, Petroleum&Plastic sectors led shares lower.
Australia stocks lower at close of trade; S&P/ASX 200 down 0.33%
Investing.com – Australia stocks were lower after the close on Thursday, as losses in the Energy, Consumer Discretionary and Consumer Staples sectors led shares lower.
Stocks Retreat as Nvidia Outlook Saps AI Trade
(Bloomberg) -- European stocks edged higher and US equity futures erased declines as investors assessed Nvidia Corp.’s results, ahead of key economic data still due this week.Most Read from BloombergTurkey Plans Istanbul Taxi Surge to Tackle ComplaintsIntergenerational Housing Could Help Older Adults Combat LonelinessAs Rural Hospitals Shutter Maternity Wards, Urban Ones FollowA Loud Warning From the Past About Living With CarsChicago Overcomes DNC Skeptics With Calm, Parties and SunThe Stoxx Eu
Taiwan stocks lower at close of trade; Taiwan Weighted down 0.25%
Investing.com – Taiwan stocks were lower after the close on Thursday, as losses in the , Transport and Semiconductor sectors led shares lower.
Asian shares mostly slip as market focus turns from Nvidia to US economy
Asian shares mostly fell Thursday as market attention turned to upcoming data on the U.S. economy after Nvidia reported its financial results. Nvidia, one of several companies that have ridden a wave of enthusiasm over artificial intelligence developments, reported earnings Wednesday. The results showed a strong profit, but Nvidia stock fell 2.1%, though it is up 153% for the year.
Oil Holds Losses as Slipping Equities Vie With Stockpiles, Libya
(Bloomberg) -- Oil steadied after a two-day drop, with stock market losses offsetting a drawdown in US stockpiles and supply disruptions in Libya.Most Read from BloombergTurkey Plans Istanbul Taxi Surge to Tackle ComplaintsIntergenerational Housing Could Help Older Adults Combat LonelinessAs Rural Hospitals Shutter Maternity Wards, Urban Ones FollowA Loud Warning From the Past About Living With CarsChicago Overcomes DNC Skeptics With Calm, Parties and SunBrent traded below $79 a barrel after los
Oil edges up as Libyan supply woes offset lower-than-expected U.S. stock draw
(Reuters) -Oil prices edged up on Thursday after two sessions of losses, as supply concerns over Libya returned to focus, while a smaller-than-expected draw in U.S. crude inventories sapped demand expectations. Brent crude futures climbed 15 cents, or 0.19%, $78.80 a barrel by 0605 GMT, while U.S. West Texas Intermediate crude futures were up 27 cents, or 0.36%, at $74.79. Worries over disruptions in supplies from Libya, a member of the Organization of the Petroleum Exporting Countries (OPEC), were positive for the market, some analysts said.
Analysis-Bond markets face a reckoning after stellar summer run
Government bond markets, which have enjoyed a summer of solid price gains, now face a reckoning with their bets for speedy central bank rate cuts and slowing inflation, not to mention a tight U.S. presidential election. Benchmark 10-year U.S. Treasury yields are set to end August down nearly 30 bps, their biggest monthly drop this year, driven by expectations for speedier rate cuts - even as economic data has eased the recessionary fears sparked by the last U.S. jobs report. Government bonds returned just 4% globally last year after 15% losses across 2021-22, and have returned 1.3% year-to-date.