An Hour Ago
Japan’s unemployment rate falls to 2.5% in June
Japan’s seasonally adjusted unemployment rate fell to 2.5% in June, slightly lower from 2.6% a month earlier, government data showed.
The figure is in line with expectations of economists polled by Reuters.
Japan’s jobs to applicants ratio came in at 1.3 for June, slightly lower than the Reuters forecast of 1.32.
— Lim Hui Jie
An Hour Ago
Hong Kong’s economy expands less than expected in second quarter
Hong Kong’s gross domestic product for the second quarter rose 1.5% year-on-year, according to advance estimates, sharply lower than the 3.6% rise expected in a Reuters poll.
On a quarter-on-quarter basis, the city’s GDP fell 1.3%, also in contrast to the 1% growth expected in the Reuters poll.
These data was also weaker compared with the first quarter GDP, which saw a 2.9% rise year-on-year and a 5.4% growth quarter-on-quarter.
— Lim Hui Jie
7 Hours Ago
Energy leads July’s sector gains
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Energy Select Sector SPDR Fund
8 Hours Ago
Busiest earnings week begins
Second-quarter earnings season may be more than halfway through, but a packed week of crucial reports is about to kick into high gear.
Monday ushers in the busiest week of the earnings period, with almost a third of the S&P 500 reporting over the next few days, and results from more than 160 components. Headline reports from Amazon and Apple are slated for Thursday.
Earnings from popular semiconductor names Advanced Micro Devices and Qualcomm are on deck, along with healthcare stocks Merck, Pfizer, Amgen and CVS Health. Reports from travel-related names Uber, Airbnb, Expedia and Norwegian Cruise Line are also due.
— Samantha Subin, Robert Hum
9 Hours Ago
Regional bank stocks among biggest S&P 500 winners for July
Regional bank stocks led the S&P 500 this month, with many popular names bouncing double digits as investors flocked back to the volatile sector.
Zions Bancorporation is the best-performing stock in the broad-based index, up more than 40% for July. KeyCorp is second best performer, up 31.5%, while Comerica and Citizens Financial have jumped more than 23% each.
Another big winner is Newell Brands, up 28.5% for the month. E-commerce stock Etsy has jumped more than 19%. A handful of oil stocks are also among July’s biggest winners, including SLB, Halliburton, Phillips 66 and APA Corporation.
— Samantha Subin
11 Hours Ago
Oil on pace for best month since January 2022
Oil prices are set to cap off their best month in more than a year.
Brent crude is up nearly 14.2% for the month, while West Texas Intermediate crude has gained 14.8%. The last time both benchmarks posted a gain this big was in January 2022, when they added more than 17.2% each.
Prices also hover near their highest level since April 17.
Oil services stocks are also set for their biggest monthly gain since October 2022. The sector’s up 17.5%, boosted by Helix Energy, Nabors and Helmerich & Payne, all up at least 25% for July.
— Samantha Subin, Gina Francolla
Read More: Asia markets rise ahead of private manufacturing activity surveys