Sentiment at some of Asia's biggest firms has deteriorated as a slowing Chinese economy, Greek sovereign debt crisis and looming U.S. interest rate hike create deepening concern about the state of the world economy, a Thomson Reuters/INSEAD survey showed.
Federal Reserve
Asian shares rose for a third consecutive day on Friday even as China stocks tumbled into correction territory, while the Federal Reserve's cautious stance towards lifting interest rates kept the dollar on the back foot.
U.S. stocks rose on Tuesday following back-to-back daily declines, with merger activity more than offsetting market concerns as Greece struggles to avoid a default on its debt.
European shares hit a near four-month low and yields on lower-rated euro zone sovereign debt climbed to their highest point since November, as financial markets braced for the possibility of Greece defaulting on its debt.
Wall Street was set to open lower as optimism regarding a resolution of the Greek debt crisis faded with the International Monetary Fund pulling out of bailout talks.
The World Bank on Wednesday cut its global growth outlook for this year and urged countries to "fasten their seat belts" as they adjust to lower commodity prices and a looming rise in U.S. interest rates.
U.S. stocks fell on Thursday, hit by nervousness ahead of Friday's jobs report and lingering uncertainty over a Greece aid deal with creditors.
U.S. stocks ended with modest gains on Monday, recovering part of last week's losses in a session marked by cautious trading as investors reacted to mixed economic data.
Contracts to buy previously owned U.S. homes rose for a fourth straight month in April to a nine-year high, buoying the outlook for the housing market and the overall economy.
When the Federal Reserve raises U.S. interest rates for the first time in nearly a decade, it should weigh the effects on global economies and can expect some bouts of financial market volatility, a top Fed official said on Tuesday.
A gauge of U.S. business investment spending plans increased solidly for a second straight month in April, a hopeful sign for manufacturing activity after a long spell of weakness.
World shares hovered near record highs on Thursday after downbeat Chinese manufacturing data kept pressure on Beijing for more stimulus and the Federal Reserve signalled higher U.S. interest rates are still some way off.
The number of Americans filing new claims for unemployment benefits rose slightly more than expected last week, but the underlying trend continued to suggest the labor market was tightening.
Federal Reserve officials believed it would be premature to hike interest rates in June even though most felt the U.S. economy was set to rebound from a dismal start to the year, according to minutes from their April policy meeting released on Wednesday.
U.S. shares were set to open higher on Friday as a selloff in the global bond market eased after purchases by the European Central Bank, lifting stock index futures.
Subscribe to VCpost newsletter
Most Popular
- Former CEO Shoots Himself to Commit Suicide After Receiving $25 Million Record-Breaking Fine for Fraud at Steinhoff
- Xi Jinping Warns Dutch PM That 'No Force' Can Stop China's Technological Advancement Amid Export Restrictions
- Social Security Benefits to Increase for Some Seniors After Addressing Overpayment Issues
- Disney Investor Nelson Peltz Criticizes the Company’s 'Woke' Strategy, Questioning 'Black Panther' and 'The Marvels' Films
- Major AI Companies Unite to Create the World's First Artificial Superintelligence Alliance Worth $7.6 Billion
- Citigroup to Complete Sweeping Overhaul This Week After Laying Off 5,000 Employees
- North Korea Refuses Peace Talk With Japan Unless They Confront Their 'Brutal' History; Business Relations at Risk
- Amazon Skips Cash Pay Hikes for Senior Employees This Year