NEWSLETTER
Thursday / September 29Sep 29
Tuesday / August 16
Chinese data
Data released Monday showed economic activity slowed across the board in July, including factory output, investment, consumer spending, youth hiring and real estate.
China’s National Bureau of Statistics data showed industrial production rose 3.8% from a year earlier in July, easing from a 3.9% year-over-year increase in June. It was well short of the 4.5% growth expected by economists polled by The Wall Street Journal.
Retail sales, a key gauge of consumer spending, grew 2.7% from a year earlier in July, this, a weaker reading than the 3.1% recorded in June and the 5.0% increase expected by surveyed economists.
Average new-home prices in 70 major cities fell 1.67% in July from a year earlier, compared with June’s 1.29% decrease.
The unemployment rate for those age 16 to 24 rose to 19.9% in July, from 19.3% in June, setting a record. The overall jobless rate edged down, however, to 5.4% from 5.5%.
PBOC rate
The People’s Bank of China cut by 0.1 percentage point two key interest rates and pumped the equivalent of $59.3 billion into the financial system to rev up lending and wider economic growth.
The People's Bank of China reduced the main rate at which it provides short-term liquidity to banks, from 2.1% to 2%.
Iran talks
The only way to revive the 2015 Iran nuclear deal is for Tehran to abandon its extraneous demands, the U.S. State Department said on Monday.
State Department spokesman Ned Price said that the United States would provide its response to the European Union's "final" text on reviving the deal in private but gave no timeline. The EU asked for a response on Monday, diplomats said, and Iran has said it will comply.
"The only way to achieve a mutual return to compliance with the JCPOA is for Iran to drop further unacceptable demands that go beyond the scope of the JCPOA. We have long called these demands extraneous," Price said.
Iranian officials talking to Tehran Times and Aljazeera confirmed Iran delivered an official response to the EU.
US stocks
U.S. stocks rose on Monday, extending the market's recent rally amid investor optimism the Federal Reserve can achieve a soft landing for the economy.
The Dow Jones Industrial Average rose 151.39 points, or 0.45%, to 33,912. The S&P 500 gained 16.99 points, or 0.40%, to 4,297. The Nasdaq Composite made 80.87 points, or 0.62%, to 13,128.
Shares of Apple climbed 0.6%, while Microsoft rose 0.5% and Tesla jumped 3.1%.
Those stocks gave the S&P 500 and Nasdaq their biggest boosts as U.S. Treasury yields eased.
Nuclear threats
The U.S., U.K., EU and other countries issued a statement on Sunday urging Russia to withdraw its troops from the Zaporizhzhia Nuclear Power Plant, Europe’s largest, saying their presence there “poses a great danger” to international tenets regarding nuclear safety and security.
On Monday, Russia’s Minister of Defense Sergei Shoigu spoke with U.N. Secretary-General Antonio Guterres about the issue. Shoigu discussed the safe operation of the facility and gave an update on events taking place on the ground, according to a Kremlin statement.
Meanwhile Russian President Vladimir Putin has sent a message of friendship to North Korean leader Kim Jong Un in which he expressed his wish for Russia and North Korea to deepen relations.
North Korea’s state media outlet KCNA reported on Sunday that Putin had sent the North Korean leader a congratulatory telegram for North Korea’s Liberation Day, on Monday. Putin in the telegram expressed a will to “continue to expand the comprehensive and constructive bilateral relations” between the countries.
Data released Monday showed economic activity slowed across the board in July, including factory output, investment, consumer spending, youth hiring and real estate.
China’s National Bureau of Statistics data showed industrial production rose 3.8% from a year earlier in July, easing from a 3.9% year-over-year increase in June. It was well short of the 4.5% growth expected by economists polled by The Wall Street Journal.
Retail sales, a key gauge of consumer spending, grew 2.7% from a year earlier in July, this, a weaker reading than the 3.1% recorded in June and the 5.0% increase expected by surveyed economists.
Average new-home prices in 70 major cities fell 1.67% in July from a year earlier, compared with June’s 1.29% decrease.
The unemployment rate for those age 16 to 24 rose to 19.9% in July, from 19.3% in June, setting a record. The overall jobless rate edged down, however, to 5.4% from 5.5%.
PBOC rate
The People’s Bank of China cut by 0.1 percentage point two key interest rates and pumped the equivalent of $59.3 billion into the financial system to rev up lending and wider economic growth.
The People's Bank of China reduced the main rate at which it provides short-term liquidity to banks, from 2.1% to 2%.
Iran talks
The only way to revive the 2015 Iran nuclear deal is for Tehran to abandon its extraneous demands, the U.S. State Department said on Monday.
State Department spokesman Ned Price said that the United States would provide its response to the European Union's "final" text on reviving the deal in private but gave no timeline. The EU asked for a response on Monday, diplomats said, and Iran has said it will comply.
"The only way to achieve a mutual return to compliance with the JCPOA is for Iran to drop further unacceptable demands that go beyond the scope of the JCPOA. We have long called these demands extraneous," Price said.
Iranian officials talking to Tehran Times and Aljazeera confirmed Iran delivered an official response to the EU.
US stocks
U.S. stocks rose on Monday, extending the market's recent rally amid investor optimism the Federal Reserve can achieve a soft landing for the economy.
The Dow Jones Industrial Average rose 151.39 points, or 0.45%, to 33,912. The S&P 500 gained 16.99 points, or 0.40%, to 4,297. The Nasdaq Composite made 80.87 points, or 0.62%, to 13,128.
Shares of Apple climbed 0.6%, while Microsoft rose 0.5% and Tesla jumped 3.1%.
Those stocks gave the S&P 500 and Nasdaq their biggest boosts as U.S. Treasury yields eased.
Nuclear threats
The U.S., U.K., EU and other countries issued a statement on Sunday urging Russia to withdraw its troops from the Zaporizhzhia Nuclear Power Plant, Europe’s largest, saying their presence there “poses a great danger” to international tenets regarding nuclear safety and security.
On Monday, Russia’s Minister of Defense Sergei Shoigu spoke with U.N. Secretary-General Antonio Guterres about the issue. Shoigu discussed the safe operation of the facility and gave an update on events taking place on the ground, according to a Kremlin statement.
Meanwhile Russian President Vladimir Putin has sent a message of friendship to North Korean leader Kim Jong Un in which he expressed his wish for Russia and North Korea to deepen relations.
North Korea’s state media outlet KCNA reported on Sunday that Putin had sent the North Korean leader a congratulatory telegram for North Korea’s Liberation Day, on Monday. Putin in the telegram expressed a will to “continue to expand the comprehensive and constructive bilateral relations” between the countries.
