Connect with us

latest

Global Markets Rally as Strong U.S. Data Sparks Optimism Ahead of Key Inflation Reports

Published

on

Global Markets Rally as Strong U.S. Data Sparks Optimism Ahead of Key Inflation Reports....KINDLY READ THE FULL STORY HERE▶

Global markets surged on Friday, buoyed by a record-setting day on Wall Street, as strong economic data from the United States reassured investors about the health of the world’s largest economy. The focus now shifts to the upcoming release of crucial inflation figures, which are expected to influence the Federal Reserve’s next moves on interest rates.

The upbeat sentiment followed reports showing that the U.S. Gross Domestic Product (GDP) expanded more than initially expected in the second quarter, while jobless claims saw a decline. These figures suggested that the Federal Reserve is successfully navigating the economy toward a soft landing, even as it works to control inflation.

The attention now turns to the Fed’s preferred inflation gauge, set to be released later on Friday, followed by the much-anticipated non-farm payrolls report next week. These reports will be critical in determining whether the Fed will opt to cut borrowing costs in its upcoming meeting and, if so, by what margin.

Luca Santos of ACY Securities highlighted that while Fed Chair Jerome Powell recently indicated that the time may be ripe for lowering rates, some officials remain cautious. Atlanta Fed President Raphael Bostic, for instance, signaled a more measured approach, emphasizing the need for additional data to avoid premature decisions that could necessitate future rate hikes. “His comments underscore how pivotal the upcoming jobs report will be in determining the Fed’s next steps,” Santos noted.

In the U.S. markets, the Nasdaq and S&P 500 ended on a mixed note, weighed down by a 6.4% drop in Nvidia’s shares following a disappointing earnings report. Despite this, the Dow Jones Industrial Average bucked the trend, closing at a new record high.

Asian markets wrapped up the week on a positive note, with tech stocks, which had suffered from Nvidia-related losses on Thursday, recovering some of their ground. Hong Kong’s Hang Seng Index rose over 1%, while Tokyo, Shanghai, Sydney, Seoul, Singapore, and other major Asian markets also posted healthy gains.

European markets followed suit, with London’s FTSE 100 and Paris’s CAC 40 opening on a strong footing. Notably, French inflation hit a three-year low of 1.9% in August, although the country’s economic growth for the second quarter was revised downwards. In contrast, Frankfurt’s DAX fell slightly after closing at a record high on Thursday.

Key Market Figures as of 0710 GMT:

  • Tokyo – Nikkei 225: UP 0.7% at 38,647.75 (close)
  • Hong Kong – Hang Seng Index: UP 1.6% at 18,073.20
  • Shanghai – Composite: UP 0.7% at 2,842.21 (close)
  • London – FTSE 100: UP 0.3% at 8,407.38
  • Dollar/Yen: UP at 145.00 yen from 144.93 yen on Thursday
  • Euro/Dollar: UP at $1.1079 from $1.1077
  • Pound/Dollar: UP at $1.3171 from $1.3170
  • Euro/Pound: UP at 84.12 pence from 84.11 pence
  • West Texas Intermediate: UP 0.5% at $76.25 per barrel
  • Brent North Sea Crude: UP 0.4% at $80.28 per barrel
  • New York – Dow: UP 0.6% at 41,335.05 (close)
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

latest

“COALITION CRUMBLES: Labour Party Delivers Massive Blow, Publicly Disowns Wike’s Rainbow Alliance!”

Published

on

The political future of the Rainbow Coalition—established by the Minister of the Federal Capital Territory (FCT), Nyesom Wike—faces significant hurdles following a major disavowal by one of its purported constituent parties.....KINDLY READ THE FULL STORY HERE▶

While Wike previously maintained that the coalition was formed to back President Bola Tinubu’s re-election bid rather than the All Progressives Congress (APC), and Daily Trust reports that the alliance brings together the APC, PDP, Labour Party, and Action Alliance in Rivers State, internal cracks have begun to show.

Key Highlights and Controversies:

  • Labour Party Disowns Coalition: Authentic LP chieftains in Rivers State have distanced themselves from the arrangement, clarifying that the individuals involved are linked to the Labour Union rather than the official party structure. Former South-South Zonal Vice Chairman Favour Reuben also alleged that the coalition’s recognized LP governorship candidate is actually a PDP member.

  • Marginalization Concerns: Political analyst Celestine Akpobari criticized the alliance for lacking inclusivity, pointing out that key leadership positions and candidates across the participating parties are dominated by a single ethnic group, rendering the “rainbow” label contradictory. He further argued that power rotation should look toward the Ogoni people if shifted from Governor Siminalayi Fubara.

  • Coalition Defense: Conversely, an anonymous Rivers APC chieftain in the coalition claimed the alliance has effectively taken grassroots control, incorporating local government chairmen, councillors, and Governor Fubara’s loyalists.

  • Endorsement for Tinubu: Former IYC President Udengs Eradiri defended the coalition, describing it as a valuable asset designed to secure bulk votes for President Tinubu’s 2027 campaign across diverse political lines, rather than undermining existing governors.

Continue Reading

latest

“CUSTODY HORROR: 33 Arrested Illegal Miners D!e Mysteriously In NSCDC Detention!”.

Published

on

A suspected outbreak of disease has resulted in the death of numerous suspected illegal miners who were being held in the custody of the Nigeria Security and Civil Defence Corps (NSCDC) in Niger State.....KINDLY READ THE FULL STORY HERE▶

According to reports, at least 33 detainees are feared dead following an operation against illegal mining that led to their arrest and subsequent detention at an NSCDC facility in Minna. The tragedy was discovered during the early hours of Thursday, September 17, 2026.

Summary of Events:

  • The Crackdown: The Niger State Command of the NSCDC executed a “burst operation” between September 15 and 16 to curb illegal mining, leading to multiple arrests.

  • The Discovery: In the early hours of September 17, scores of detained suspects were found dead due to a suspected illness. Hospital sources indicate that 33 individuals succumbed, with diphtheria suspected as the cause.

  • Public Reaction: The incident sparked protests from relatives and residents in the M.I. Wushishi and Mekunkle areas.

  • Official Response: NSCDC State Commandant Suberu Aniviye confirmed the incident, stated that the bodies were deposited at the General Hospital in Minna for medical examinations, and appealed for calm while security agencies manage the situation.

Would you like me to help draft a follow-up commentary or social media post for this story?

Continue Reading

latest

“‘PRACTICALLY IMPOSSIBLE TO SURVIVE’: NLC Blasts Spiraling Transport And Food Costs, Demands Urgent Federal Intervention”

Published

on

The Nigeria Labour Congress (NLC) has urged the Federal Government to implement emergency measures to alleviate the heavy burden of the recent petrol price hike nationwide.....KINDLY READ THE FULL STORY HERE▶

In a statement released following the surge of the pump price to ₦1,430 per litre, NLC President Joe Ajaero expressed deep concern over the escalating energy costs, warning that they are placing unbearable pressure on workers and everyday households.

Key Demands from Labour:

  • Immediate Wage Awards: Implementing fair wage adjustments to cushion workers against soaring inflation.

  • Crude in Naira: Ensuring an adequate supply of crude oil paid in local currency to domestic refineries.

  • Expanded Storage Capacity: Building up national reserves to manage energy emergencies and bolster energy security.

Ajaero stressed that the soaring cost of petrol has triggered a domino effect, driving up prices for transportation, food, rent, school fees, and basic commodities. He noted that these pressures are pushing the quality of life for millions to the edge and worsening national poverty levels.

The labour leader concluded that swift government intervention—focused on economic buffers, job creation, and security enhancement—is vital to prevent further hardship and stabilize the economy.

Would you like me to turn this rephrased article into another custom image graphic layout for Nivo News?

Continue Reading

Trending