S&P 500 Index Heads Toward Worst Month in More Than Three Years

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U.S. stocks declined, with the Standard & Poor’s 500 Index on the verge of its worst month in more than three years, as investors harbored concerns about slowing global growth and the impact of a potential interest-rate increase by the Federal Reserve as soon as September.

Equities earlier trimmed their losses after energy shares reversed a 2.5 percent selloff to rally as much as 1.4 percent. The move followed a jump in oil prices after a government report reduced its crude production estimates. Equities trading has been whipsawed by gains and losses since last week as markets remain subject to sudden shifts in investor sentiment.

The S&P 500 lost 0.5 percent to 1,979.98 at 12:13 p.m. in New York, after earlier falling as much as 1.2 percent before trimming the drop to less than 0.2 percent. The Dow Jones Industrial Average sank 55.42 points, or 0.3 percent, to 16,587.59. The Nasdaq Composite Index slipped 0.4 percent.

The S&P 500 is down 5.9 percent this month, remaining on pace for the most since May 2012, as China’s currency devaluation earlier this month spurred concern over global growth, erasing more than $5.3 trillion in equity market values worldwide. The benchmark’s 0.9 percent gain last week masked a volatile period in which the S&P 500 plunged the most since 2011 to enter a correction, only to rally more than 6 percent over two days for its best back-to-back gains since the beginning of the bull market in 2009.

The Chicago Board Options Exchange Volatility Index rose 7.3 percent Monday to 27.96. The measure of market turbulence known as the VIX is on its way to a record monthly jump, up 127 percent. More than $2 trillion of share value was erased from U.S. markets between the end of July and the lowest levels of last week, a sum equal to roughly two years of S&P 500 earnings, data compiled by Bloomberg show.

While August ranks in the middle among months based on share performance, it has produced some of the worst returns of the year since 2009. During the week ended August 12, 2011, the S&P 500 alternated between gains and losses of at least 4 percent for four days, something never seen in 88 years of data compiled by Bloomberg. In 2013, the S&P 500 fell 3.1 percent in August, one of only two months of negative returns in a year when the index surged 30 percent.

Source : Bloomberg

Aussie Above Six-Year Low as Traders Look to RBA for Direction

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Australia’s dollar held above a six-year low as traders waited for comments from Reserve Bank Governor Glenn Stevens on the exchange rate in Tuesday’s policy-meeting statement.

The Aussie traded within a cent of the 70.50 U.S. cents it reached last week for the first time since April 2009. In the statement following last month’s meeting, Stevens refrained from indicating the currency was overvalued for the first time in more than a year as policy makers held the benchmark interest rate at a record-low 2 percent. Australia’s dollar dropped the most since May last week amid a stock rout in China.

Australia’s dollar was little changed at 71.09 U.S. cents as of 9 a.m. in Tokyo from Monday, when it fell for the first time in three days. A 2 percent slump last week was the worst since the period ended May 29.

Source : Bloomberg

Japan Stocks Fall Second Day as Investors Watch China Markets

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Japanese stocks fell for a second day, led by iron and steel producers, after the Topix index posted its worst monthly loss in three years, as confidence waned that China will be able to prop up its markets amid slowing economic growth.

The Topix slipped 0.6 percent to 1,527.88 as of 9:01 a.m. in Tokyo, after Monday capping its biggest monthly plunge since May 2012. The Nikkei 225 Stock Average fell 0.7 percent to 18,756.04. The yen traded at 121.11 per dollar after strengthening Monday for the first time in five days. The official gauge of China’s manufacturing industry will fall to a three-year low in August, according to the median of economist estimates compiled by Bloomberg before data due Tuesday.

Concern that slowing Chinese growth will hamper global expansion reemerged after Federal Reserve officials signaled they are prepared to raise interest rates as soon as next month.

The rout in global equities last month erased more than $5 trillion from the value of shares as Chinese policy makers tried to bolster their market amid growing concern that its economy may be in worse shape than analysts had estimated. Morgan Stanley reduced its forecast for world growth this year and next on Monday, citing weakening industrial activity in China.

Source: Bloomberg

U.S. Stocks Decline as S&P 500 Posts Worst Month Since May 2012

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U.S. stocks declined, with the Standard & Poor’s 500 Index posting its worst month in more than three years, as investors harbored concerns about slowing global growth and the impact of a potential interest-rate increase by the Federal Reserve as soon as September.

The S&P 500 lost 0.8 percent to 1,972.15 at 4 p.m. in New York, capping its biggest monthly slide since May 2012. The gauge in earlier trading fell as much as 1.2 percent before nearly erasing the retreat. The Dow Jones Industrial Average sank 0.7 percent to complete its worst monthly drop since May 2010.

Equities trimmed their losses in the late morning after energy shares in the benchmark index reversed a 2.5 percent selloff to rally as much as 1.4 percent. The move followed a jump in oil prices after a government report reduced its crude production estimates and OPEC said it’s ready to talk to other global producers to achieve “fair prices.” Stocks have been whipsawed by gains and losses since last week as markets remain subject to sudden shifts in investor sentiment.

The S&P 500 ended down 6.3 percent this month as China’s currency devaluation earlier this month spurred concern over global growth, erasing more than $5.3 trillion in equity market values worldwide. The benchmark’s 0.9 percent gain last week masked a volatile period in which the S&P 500 plunged the most since 2011 to enter a correction, only to rally more than 6 percent over two days for its best back-to-back gains since the beginning of the bull market in 2009.

More than $2 trillion of share value was erased from U.S. markets between the end of July and the lowest levels of last week, a sum equal to roughly two years of S&P 500 earnings, data compiled by Bloomberg show.

While August ranks in the middle among months based on share performance, it has produced some of the worst returns of the year since 2009. During the week ended August 12, 2011, the S&P 500 alternated between gains and losses of at least 4 percent for four days, something never seen in 88 years of data compiled by Bloomberg. In 2013, the S&P 500 fell 3.1 percent in August, one of only two months of negative returns in a year when the index surged 30 percent.

Source : Bloomberg

Gold Decline Fifth Time in Six Sessions on Revived Rate Concerns

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Gold futures declined for the fifth time in six sessions as comments by a Federal Reserve official reignited concern that U.S. interest rates will climb this year.

Fed Vice Chairman Stanley Fischer said over the weekend there is "good reason" to believe inflation will accelerate, boosting speculation that the central bank won’t delay its first rate increase since 2006. Stubbornly low inflation along with the prospect of tighter U.S. monetary policy has kept a lid on the metal, which doesn’t pay interest or offer returns, unlike competing assets.

Gold pared gains from earlier this month, when a slowdown in China and a global market rout raised speculation that the Fed would wait longer before raising rates. Rather than providing a refuge from the meltdown, bullion’s volatility rose along with a measure of equity turbulence, diminishing its appeal as a haven. The metal rose 3.4 percent in August, the first advance since May.

In New York, gold futures for December delivery slid 0.1 percent to settle at $1,132.50 an ounce at 1:41 p.m. on the Comex. Prices dropped 2.2 percent last week, the most in a month.

The probability that the Fed will increase rates before the end of 2015 rose to 63 percent on Monday, up from 48 percent a week earlier, futures trading showed. Gold is heading for a third straight annual decline as a resilient U.S. economy reduced some investors’ faith in the metal as a store of value.

Silver futures for December delivery gained 0.3 percent to $14.586 an ounce on the Comex.

Source: Bloomberg

Yen Advances as China Slowdown Concerns Spur Haven Demand

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The yen advanced, halting a four-day slide, on speculation a report Tuesday will add to evidence of slowing growth in China.

Japan’s currency was the biggest gainer versus the dollar among its developed-market counterparts before the data that economists said will show China’s manufacturing contracted in August for the first time since February. Chinese banks have passed on cuts in official deposit rates and even exceeded them, a sign that they lack confidence in the nation’s economic recovery.

The yen climbed 0.4 percent to 121.24 per dollar as of 8:21 a.m. in Tokyo. It strengthened 0.2 percent to 135.86 against the euro. The single currency advanced 0.2 percent to $1.1203.

Source: Bloomberg

Malaysia Held a Massive Demonstration

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Pro-democracy movement demanding Prime Minister Najib Razak retreated, following reports that he received US $ 700 million in his personal account of the institution of government-owned investment funds, 1MDB.

The protesters gathered in the Malaysian capital to attend the two-day demonstration demanding the resignation of the prime minister who faces serious charges of corruption.

Clean, civil society leading the country, demanding Najib Razak resign, following reports that he received US $ 700 million in his personal account of the institution of government-owned investment funds, 1MDB.

The government has blocked access to the Net page and declared the meeting at the Merdeka Square, Kuala Lumpur illegal because the activists did not get permission to hold the rally there. Authorities also banned the use of the yellow jersey that characterizes the Net and the logo of the group.

The Government has tightened security ahead of the demonstrations that took place from this Saturday.

Source: VOAindonesia

Asian Stocks Drop, Extending Biggest Monthly Retreat Since 2012

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Asian stocks fell, extending the biggest monthly drop since May 2012, as investors weighed comments from a weekend meeting of monetary policy makers.

The MSCI Asia Pacific Index declined 0.6 percent to 130.26 as of 9:06 a.m. in Tokyo, on course to slide 8.3 percent in August. Futures on the Standard & Poor’s 500 Index retreated 1.1 percent.

There’s good reason to believe inflation will move higher, Federal Reserve Vice Chairman Stanley Fischer told delegates at the Kansas City Federal Reserve’s annual retreat in Jackson Hole, Wyoming. While Fischer was careful to say that he wasn’t signaling an impending rate increase, the remarks suggest the Federal Open Market Committee hasn’t ruled out a move when it gathers in Washington Sept. 16-17.

Source : Bloomberg

Japan Stocks Fall, Extending Biggest Monthly Loss Since 2012

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Japanese stocks fell, with the Topix index set to cap its biggest monthly loss in more than three years, as comments from Federal Reserve officials renewed speculation the U.S. may raise interest rates as soon as September.

The Topix slipped 0.7 percent to 1,538.78 as of 9:03 a.m. in Tokyo, heading for an 7.3 percent drop in August, the biggest such plunge since May 2012. The Nikkei 225 Stock Average fell 0.8 percent to 18,976.20, on course for a 7.8 percent monthly loss. The yen strengthened 0.3 percent to 121.31 per dollar, halting four days of declines. U.S. stock futures tumbled after Fed officials meeting in Jackson Hole, Wyoming, said inflation was likely to improve, dousing investor expectations that interest-rate hikes would be delayed until December.

Source: Bloomberg

Saham AS Ditutup Sedikit Berubah Pasca Pekan Yang Tidak Stabil

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Bursa Saham AS berakhir sedikit berubah, dengan indeks Standard & Poor 500 berada pada jalur untuk bulan terburuknya sejak Mei 2012, terkait kelonggaran yang ditemukan ekuitas dari fluktuasi pada awal pekan ini.

Indeks S & P 500 naik 0,1 persen menjadi 1,988.65 pada 04:00 sore di New York, setelah sebelumnya naik sebanyak 0,3 persen. Indeks Kamis mencatatkan kenaikan back-to-back terbaiknya sejak Maret 2009.

Indeks S & P 500 yang diperdagangkan hari ini berada di kisaran terkecil dalam hampir dua minggu terakhir. Indeks tersebut mengalami kenaikan 0,4 persen untuk menutupi periode volatilitas dalam seminggu di mana indeks acuan mengalami penurunan terbesarnya sejak 2011 dan masuk kedalam koreksi, mencatat reli lebih dari 6 persen selama dua hari. Indeks tersebut turun 5,9 persen pada bulan itu, atau yang tertajam sejak Oktober lalu.

Indeks acuan catatkan reli terbaik dua harinya kemarin sejak awal Bull Market pada tahun 2009 lalu, dibantu oleh data yang menunjukkan bahwa pertumbuhan ekonomi AS lebih tinggi dari perkiraan. Dow mendapatkan kenaikan back-to-back terbaiknya sejak Desember 2008. Ekuitas global telah menurun sebanyak $ 8.4 triliun pasca devaluasi tak terduga China atas yuan pada awal bulan ini yang memicu kekhawatiran bahwa ekonomi terbesar kedua dunia tersebut berada di ambang perlambatan yang lebih lajut lagi

Sumber: Bloomberg

Gold Heads for Biggest Weekly Drop in a Month as Markets Rally

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Gold headed for the biggest weekly decline in a month after a report showed the U.S. economy grew stronger than expected in the second quarter, reducing the metal’s appeal as a haven.

Bullion for immediate delivery was little changed at $1,126.27 an ounce at 8:58 a.m. in Singapore, according to Bloomberg generic pricing. It has declined 2.7 percent this week, the first weekly loss in three.

The U.S. expanded at a 3.7 percent annual rate last quarter, exceeding all estimates of economists surveyed by Bloomberg, figures showed Thursday, propelling Asian and U.S. equities and the dollar higher. An improving economy takes the luster off of gold because it increases the chances that the Federal Reserve will start tightening monetary policy, reducing the appeal of precious metals because they don’t pay interest.

Gold futures for December delivery added 0.3 percent to $1,126 an ounce on the Comex, heading for a 2.9 percent decline this week. Palladium surged 3.3 percent to $581 an ounce, extending a 5.6 percent advance on Thursday, the most since Dec. 2011. Silver for immediate delivery climbed 0.4 percent to $14.5530 an ounce, while platinum rose 0.8 percent to $1,008.50 an ounce.

Source : Bloomberg

Dollar Heads for Weekly Gain as Traders Boost Bets on Rate Rise

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The dollar headed for its first weekly advance since the start of this month as a rally in stocks and accelerating growth fueled speculation the U.S. economy will be resilient to a slowdown in China.

The greenback has gained against all its Group-of-10 peers except the yen this week as traders increased to 54 percent the odds the Federal Reserve will raise interest rates this year, from as low as 46 percent on Tuesday. The currency of New Zealand, which has China as its biggest trading partner, led declines among major counterparts this week.

The Bloomberg Dollar Spot Index, which tracks the currency versus 10 major peers, has risen 0.5 percent this week to 1,205.76 as of 9:52 a.m. in Tokyo. The greenback appreciated 1.3 percent to $1.1236 per euro, and fell 0.8 percent to 121.13 yen. It was little changed Friday.

The dollar climbed for a third day versus the euro Thursday after a report showed U.S. gross domestic product rose at a 3.7 percent annualized rate in the second quarter, exceeding all estimates of economists surveyed by Bloomberg. A day earlier, Commerce Department data showed orders for capital goods increased by the most in a year in July.

Kansas City Fed President Esther George said it’s too soon to tell whether market volatility will affect the U.S. economy, and every policy-setting meeting is a live option to start raising rates.

The kiwi slid 2.9 percent to 64.95 U.S. cents this week and the Australian dollar dropped 1.7 percent to 71.89 cents.

Source : Bloomberg

China Stocks Rise for Second Day as State Buying Seen Continuing

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China stocks rose for a second day amid speculation the government has resumed its intervention in the equities market.

The Shanghai Composite Index climbed 1.4 percent to 3,125.45 at 9:34 a.m., paring this week’s loss to 11 percent. The benchmark index rallied 5.3 percent on Thursday with all of the gains coming in the last 45 minutes of trading. PetroChina Co. led a rally for energy producers after crude futures soared 10 percent in New York on Thursday. The offshore yuan rose after the central bank boosted the currency’s reference rate by the most in five months.

Policy makers want to stabilize equities before a Sept. 3 military parade celebrating the 70th anniversary of the World War II victory over Japan, said two of the people, who asked not to be identified because the move wasn’t publicly announced. The shift followed the absence of state buying earlier this week.

The Shanghai Composite has fallen 40 percent since the June peak amid concern the government has scaled back efforts to prop up equities and the deepning economic slowdown will hurt corporate profits. Data on Friday showed industrial companies’ profits slid for a second month, dropping 2.9 percent in July.

Source : Bloomberg

China Stock-Index Futures Rise as State Buying Seen Continuing

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China stock-index futures rose amid speculation the government has resumed its intervention in the equities market.

CSI 300 futures for September jumped 4 percent at 9:15 a.m. local time, before the release of industrial companies’ profits. The central bank raised the yuan reference rate by 0.15 percent to 6.3986 per dollar on Friday morning, the most since March.

The Shanghai Composite Index rallied 5.3 percent to 3,083.59 on Thursday, with all of the gains coming in the last 45 minutes of trading amid speculation state funds have resumed buying. The benchmark gauge has lost 12 percent this week.

Policy makers want to stabilize equities before a Sept. 3 military parade celebrating the 70th anniversary of the World War II victory over Japan, said two of the people, who asked not to be identified because the move wasn’t publicly announced. The shift followed the absence of state buying earlier this week.

The intervention to prop up shares is part of a broader effort to ensure nothing detracts from the parade, an event the government will use to demonstrate its rising military and political might. The parade has been planned for months and will provide President Xi Jinping his first opportunity to publicly present himself to the world as China’s commander in chief.

The Shanghai Composite has fallen 40 percent since the June peak amid concern the government has scaled back efforts to prop up equities and the economic slowdown was deepening.

China Securities Finance may have applied for 1.4 trillion yuan ($219 billion) of borrowing in the interbank market, Caixin reported, citing unidentified bank officials. The government should adopt a proactive fiscal policy and further ease monetary policy, the Economic Daily wrote in a front-page commentary.

Source : Bloomberg

Asian Stocks Rise as U.S. Economy Grows Faster Than Forecast

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Asian stocks rose for a third day as a global rally gathered pace and the U.S. economy grew faster than expected in the second quarter.

The MSCI Asia Pacific Index gained 0.4 percent to 129.32 as of 9:01 a.m. in Tokyo. The gauge, which began this week with a two-day 5.1 percent slump, has rallied the past three days. Futures contracts indicated Chinese markets will continue a rebound, with contracts on the FTSE China A50 Index gaining 2.3 percent and those on the Hang Seng China Enterprises Index rising 1.8 percent.

Data on Thursday showed U.S. gross domestic product rose at a 3.7 percent annualized rate, exceeding all estimates of economists surveyed by Bloomberg, and up from the 2.3 percent reported last month. A separate report showed filings for jobless benefits declined to a three-week low.

The data come as Federal Reserve policy makers debate whether growth is strong enough to withstand the first increase in the interest rate since 2006. Central bankers gather at Jackson Hole, Wyoming, for a discussion on inflation just as China’s slowdown renews fears of falling prices. Fed Chair Janet Yellen won’t attend this year.

Source : Bloomberg

Oil Advances as U.S. Crude Inventories Unexpectedly Decrease

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Oil advanced as U.S. government data showed crude stockpiles unexpectedly fell in the world biggest oil consumer.

Futures climbed as much as 1.6 percent in New York, paring losses after a 1.8 percent drop on Wednesday. Inventories fell by 5.45 million barrels to 450.8 million, according to an Energy Information Administration report, compared with an increase of 1.45 million forecast in a Bloomberg survey. The nation’s output slipped for a third week, the EIA said.

Oil has fluctuated below $40 a barrel this week amid volatility in global financial and commodity markets on concern China’s fuel demand will falter. Crude is still down more than 35 percent from this year’s closing peak in June on signs the global glut will be prolonged as leading OPEC members sustain production and U.S. crude stockpiles remain about 90 million barrels above the five-year seasonal average.

West Texas Intermediate for October delivery rose as much as 61 cents to $39.21 a barrel on the New York Mercantile Exchange and was at $39.03 at 8:43 a.m. Sydney time. The contract slid 71 cents to $38.60 on Wednesday. The volume of all futures traded was about 47 percent below the 100-day average. Prices have decreased 27 percent this year.

Brent for October settlement lost 7 cents, or 0.2 percent, to $43.14 a barrel on the London-based ICE Futures Europe exchange on Wednesday. The European benchmark crude ended the session at a premium of $4.54 to WTI.

Source : Bloomberg

Dollar Gains by Most in Five Months Against Euro as Stocks Surge

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The dollar rose by the most in five months against the euro as U.S. stocks surged after better-than-expected data on capital goods orders bolstered the outlook for economic growth.

The greenback advanced against most of its major peers as U.S. stocks staged their biggest rally since 2011 after markets from Asia to Europe fell amid the worst global equity rout in almost four years. The dollar pared gains, and later resumed its climb, after Federal Reserve Bank of New York President William Dudley said the case for raising U.S. interest rates in September is less compelling amid recent market turmoil.

The dollar advanced 1.8 percent to $1.1314 per euro at 5 p.m. in New York, the biggest increase since March 19. It gained 0.9 percent to 119.92 yen, the most since July 10. The Bloomberg Dollar Spot Index rose 0.7 percent to 1,202.94.

Source: Bloomberg

Japanese Stocks Jump After U.S. Stages Biggest Rally Since 2011

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Japanese stocks jumped for a second day, heading for the biggest two-day rally since November, as a U.S. equity rebound bolstered investor appetite for risk assets.

The Topix index climbed 1.7 percent to 1,504.47 as of 9 a.m. in Tokyo, building on Wednesday’s 3.2 percent gain, as all of its 33 industry groups advanced. The Nikkei 225 Stock Average added 1.5 percent to 18,658.53. The yen weakened for a third day, trading at 120 per dollar. Shares in the U.S. staged the biggest rally since 2011, halting a six-day rout, as dovish words from the Federal Reserve helped soothe investor concern about an economic slowdown and stock-market turmoil in China.

Japanese investors will be watching Chinese equities, and continued declines in Shanghai would weigh on sentiment, Akino said. The Shanghai Composite Index fell for a fifth day Wednesday as lower interest rates failed to halt a $5 trillion rout. Futures on the FTSE China A50 Index gained 1.7 percent in most recent trading.

Concern about the outlook for the world’s second-largest economy has roiled global markets since China unexpectedly devalued its currency more than two weeks ago. The turmoil has weakened the case for raising U.S. rates in September, Fed Bank of New York President William C. Dudley said, cautioning that it’s important not to overreact to short-term developments.

Source : Bloomberg

S & P 500 Menguat Tajam Sejak 2011, Menghentikan Gejolak Selama 6-Hari Terakhir

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Saham AS mencatat reli tertajamnya sejak 2011, menghentikan penurunan selama enam hari, karena investor menemukan beberapa bantuan pasca penurunan terburuk ekuitas global di hampir empat tahun. Treasuries jatuh dan dolar naik.

S & P 500 meningkat sebesar 3,9% pada 04:00 sore di New York, yang merupakan kenaikan tertajam sejak November 2011. reli pada menit pertama perdagangan tergerus lebih dari setengah sepanjang sesi pagi, sebelum rebound pada sore hari. Investor kemarin melihat reli memudar 2,9% di jam terakhir perdagangan, mengirim Indeks tersebut melemah 1,4%.

Data ekonomi, menghentikan penurunan yang menghapus $ 2.2 trilyun dari nilai saham.

Kekhawatiran bahwa para otoritas China mungkin gagal untuk mencegah gejolak di ekonomi terbesar kedua dunia tersebut yang telah mengguncang pasar global. Sekitar $ 8 triliun telah dihapus dari nilai ekuitas global sejak kejutan devaluasi yuan China pada 11 Agustus lalu yang dikarenakan investor mengkaji prospek perlambatan pertumbuhan dan kenaikan suku bunga pertama di Amerika Serikat pada hampir satu dekade terakhir.

Sumber: Bloomberg

Indeks Saham AS Menguat Pasca Aksi Jual Selama 6 hari

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Saham AS menguat, di tengah penurunan beruntun tertajamnya dalam empat tahun terakhir, karena investor mencoba untuk kembali pasca memudarnya reli awal kemarin.

Perusahaan teknologi memimpin kenaikan, terkait aksi di hari Selasa, dengan Apple Inc, Google Inc dan Qualcomm Inc naik setidaknya 2%. Saham perbankan juga berada pada jalur yang sama dengan kemarin dengan JPMorgan Chase & Co dan Citigroup Inc meningkat lebih dari 1,4%. Cameron International Corp melonjak 41% setelah pihaknya menyetujui untuk membeli unit saham dari Schlumberger Ltd senilai $ 14.8 milyar.

Indeks Standard & Poor 500 naik 1,2% menjadi 1,889.06 pada 12:12 siang di New York, memangkas kenaikan sebelumnya sebanyak 2,5%. Dow Jones Industrial Average menambahkan 188,47 poin, atau 1,2%, ke level 15,854.91 setelah sebelumnya naik lebih dari 430 poin. Indeks Nasdaq Composite juga mencatat kenaikan sebesar 1,2%.(yds)

Sumber: Bloomberg 

Oil Swings Amid Commodity Rebound as U.S. Crude Stockpiles Fall

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Oil swung between gains and losses amid a rebound in commodities while industry data showed U.S. crude stockpiles declined.

Futures were little changed in New York after advancing 2.8 percent Tuesday. U.S. crude inventories decreased by 7.3 million barrels last week, the American Petroleum Institute was said to have reported. An increase of 1.45 million barrels is forecast in a Bloomberg survey before an Energy Information Administration report Wednesday.

Oil remains down more than 35 percent from this year’s closing peak in June after plunging Monday to the lowest close since February 2009 on concern China’s fuel demand will falter while a global surplus persists. The Bloomberg Commodity Index of 22 raw materials including crude and metals rebounded Tuesday from a 16-year low.

West Texas Intermediate for October delivery was at $39.20 a barrel on the New York Mercantile Exchange, down 11 cents, at 9:24 a.m. Sydney time after rising as much as 1.2 percent. The contract climbed $1.07 to $39.31 on Tuesday. The volume of all futures traded was about 15 percent below the 100-day average. Prices have decreased 26 percent this year.

Brent for October settlement gained 52 cents, or 1.2 percent, to $43.21 a barrel on the London-based ICE Futures Europe exchange on Tuesday. The European benchmark crude ended the session at a premium of $3.90 to WTI.

Source : Bloomberg

Dollar Pares Gains as U.S. Stocks Fall Amid Renewed Volatility

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The dollar pared gains as U.S. stock markets erased advances after China cut interest rates following Monday’s $2.7 trillion global equity wipeout.

The dollar trimmed earlier gains, rising 0.5 percent to 118.98 yen as of 4:09 p.m. in New York, after slumping to 116.18 on Monday, the weakest since Jan. 16.

The greenback rose 1.1 percent to $1.1488 per euro, bouncing back after Europe’s single currency gained 5.4 percent in the previous four days, the most since March 2009. The Bloomberg Dollar Spot Index rose 0.6 percent to 1,195.07, the biggest gain in seven weeks.

Traders have increased the probability of the Fed raising rates at its September meeting to 28 percent, rebounding from as low as 20 percent Monday. The calculation is based on the assumption that the effective fed funds rate will average 0.375 percent after the first increase.

Source: Bloomberg

Saham Jepang, Hentikan Penurunan Dalam Enam Hari

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Indeks saham Jepang menguat, menghentikan penurunan dalam enam hari terakhir seiring para investor menimbang dampak pemangkasan suku bunga China.

Indeks Topix naik 1,2 persen ke level 1,449.75 pukul 09:05 pagi di Tokyo, dengan semua kelompok 33 saham sub industri mengalami penguatan. Indeks Nikkei 225 Stock Average menguat 0,3 persen ke level 17,864.88. Yen ditransaksikan pada level 118,81 per dolar setelah melemah 0,4 persen pada Selasa kemarin. Saham AS tersapu kenaikan suku bunga China mengirim saham AS ditutup melemah untuk hari keenam, penutupan terendah sejak Oktober lalu.

Setelah indeks Shanghai Composite turun sebesar 7,6 persen pada Selasa untuk mencatat penurunan sebesar 22 persen, penurunan hari keempat, para pembuat kebijakan China memangkas suku bunga untuk kelima kalinya sejak November lalu dan menurunkan jumlah kas bank yang harus disisihkan. Bank Rakyat China (PBOC) mengurangi suku bunga pinjaman satu tahun sebesar 25 basis poin menjadi 4,6 persen dan menurunkan rasio cadangan - jumlah minimum yang diperlukan yang akan diadakan oleh bank - sebesar 50 basis poin.

Stabilitas di pasar AS tidak berlangsung lama pasca indeks Standard & Poor 500 menghapus keuntungan sebanyak 2,9 persen menjadi ditutup turun 1,4 persen. Kontrak pada indeks S&P 500 turun 0,9 persen pada hari Rabu. (izr)

Sumber: Bloomberg

Relief Rally Evaporates in U.S. Stocks as China Anxiety Bubbles

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A rebound that took the Dow Jones Industrial Average up more than 440 points disappeared as traders said trepidation over what will happen in China’s market made holding on to stocks too risky for most investors.

The 30-stock index slid 1.3 percent to 15,665.77 at 4 p.m. in New York, down 4 percent from its highest point. The peak-to-trough retreat matched Monday’s selloff, when concern about global growth ignited the worst selloff in four years. The Standard & Poor’s 500 Index went from up 2.9 percent to down 1.4 percent, with most of the selling concentrated in the final two hours of trading.

The unwinding disappointed bulls who earlier in the day staked hopes on China’s efforts to inject stimulus into its economy. The central bank today cut interest rates for the fifth time since November and lowered the amount of cash banks must set aside in an attempt to stem the country’s biggest stock market rout since 1996 and a deepening economic slowdown.

Source : Bloomberg       

U.S. Stocks Rally as S&P 500 Rebounds From Drop Into Correction

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U.S. stocks rallied, with the Standard & Poor’s 500 Index clawing back some of its losses from a global rout that sent the benchmark into a correction amid the steepest two-day drop since the financial crisis.

Technology shares led the rebound as Apple Inc. jumped the most since January. JPMorgan Chase & Co. and Bank of America Corp. advanced at least 3.8 percent to lead banks back from their worst two-day slide in four years. Best Buy Inc. soared 15 percent after its quarterly profit topped analysts’ estimates, and Netflix Inc. added 9.3 percent to reverse Monday’s decline. Facebook Inc. surged 5.8 percent, the most in a year, after sliding 14 percent in the prior three sessions.

The S&P 500 rose 2.4 percent to 1,937.72 at 12:30 p.m. in New York, on track for its biggest gain this year, after closing Monday in a correction for the first time in four years. The Dow Jones Industrial Average added 358.77 points, or 2.3 percent, to 16,230.12. The Nasdaq Composite Index climbed 3.3 percent, headed for its best advance since 2011.

Index futures contracts briefly extended gains earlier after China cut interest rates for the fifth time since November and lowered the amount of cash banks must set aside in an attempt to stem the country’s biggest stock market rout since 1996 and a deepening economic slowdown.

Source: Bloomberg

Gold falls as dollar pares losses; platinum sinks on stocks rout

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Gold turned lower on Monday, as the dollar pared losses, and U.S. shares and other commodity markets staged a comeback while the white precious metals fell on concerns about the Chinese economy.

World stock markets initially plunged after a near-9 percent dive in China shares, attracting safe haven buying to gold as crude oil futures fell sharply to 6-1/2-year lows and copper to a six-year low.

Spot gold was down 0.7 percent at $1,152.45 an ounce, after rising to $1,167.50 an ounce. U.S. December gold futures settled down 0.5 percent at $1,153.60 an ounce.

Platinum dropped as much as 4.5 percent, palladium hit a three-year low at $563.72 an ounce and silver fell 4.8 percent to the lowest since Aug. 6 at $14.57 a ounce.

The 19-commodity Thomson Reuters CoreCommodity Index fell as much as 3.2 percent to the lowest level since December 2002 after slumping Chinese equities fueled worries of a hard landing in the world's biggest consumer of raw materials.

The U.S. dollar fell 2.5 percent to its lowest since the end of January before paring losses.

Gold has now rebounded 7 percent from a 5-1/2-year low of $1,077 reached in late July, benefiting from uncertainty posed by China's surprise devaluation of its yuan currency.

Worries about global deflation, however, would not bode well for gold, typically seen as a hedge against inflation.

Source: Bloomberg

Dollar Plunges to 7-Month Low Versus Euro, Yen Amid Global Rout

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The dollar slumped to a seven-month low against the euro and the yen as most traders concluded the Federal Reserve will refrain from raising interest rates next month amid a global stock-market rout.

The greenback fell to the lowest since January as declining commodity and share prices deepened a plunge in emerging-market currencies that started after China’s shock devaluation of the yuan on Aug. 11.

The dollar fell 2.4 percent to $1.1663 per euro at 9:23 a.m. in New York after falling as low as 1.1714, the weakest since Jan. 15. It dropped 3.8 percent to 117.44 yen after reaching 116.18, the lowest since Jan 16.

Source: Bloomberg

S&P 500 Index Falls Into Correction Amid Global Equities Rout

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The Standard & Poor’s 500 Index fell into a correction for the first time since 2011 in one of the most volatile trading days ever, as a rout in global equity markets deepened.

It was a day of wild swings as equities plunged at the open before staging a sharp rebound, with the Nasdaq 100 Index by midday nearly erasing a 9.8 percent drop. The Dow Jones Industrial Average dropped 1,000 points in the opening minutes of trading, and the S&P 500 tumbled 5.3 percent and then pared declines before an afternoon wave of selling.

The S&P 500 dropped 3.9 percent to 1,893.39 at 4 p.m. in New York, and was 11 percent below its May record.

The Chicago Board Options Exchange Volatility Index rose 44 percent to 40.42, trimming an earlier 90 percent surge that temporarily sent the index to its highest level since January 2009. The gauge known as the VIX more than doubled last week, soaring 118 percent to 28.03.

The S&P 500’s rout sent valuations tumbling. The price-to-earnings ratio for the gauge sank to 16.76, the lowest level since the October pullback. Then, the measure bottomed just above 16.50, the cheapest since January 2014.

Source : Bloomberg

European stocks lose more than 500 bln euros in value after China rout

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European stocks slumped on Monday following a rout in Chinese markets, wiping hundreds of billions of euros off leading shares and sending one benchmark index to a seven-month low.

Trading screens flashed red across the region as stock markets in Frankfurt and Paris fell more than 5 percent, while Athens' bourse - already down sharply due to Greece's debt problems - slumped around 10 percent.

The pan-European FTSEurofirst 300 was down 6.4 percent going into the close of the trading session, wiping off more than 500 billion euros ($582.55 billion) from the index's tota market capitalisation.

The FTSEurofirst was on course for its worst one-day percentage fall since it slumped more than 7 percent in October 2008, just after the demise of U.S. bank Lehman Brothers. It was also on course for its worst monthly loss since 2002.

It also sank to its lowest level since January, having lost more than a trillion euros in market value since the start of the month as China's devaluation of the yuan stoked fears of global economic deflation.

Chinese stocks plunged more than 8 percent on Monday, in their biggest one-day loss since the height of the global financial crisis in 2007, after Beijing held back expected policy support at the weekend following last week's 11 percent slide.

The STOXX 600 Basic Resources Index, whose constituents are mostly mining stocks, and the energy sector fell 10 percent and 8.8 percent respectively, as commodities slumped to multi-year lows, with China being one of the world's biggest users of metals and oil.

Shares in banks and asset managers also fell sharply, while the Euro STOXX Volatility Index rose 14 points to its highest level since late 2011 - more evidence of investor unease.

Source: MarketWatch

U.S. Stocks Slide Amid Deepening Rout in Global Equity Markets

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U.S. stocks fell, tracking a selloff in global equity markets, amid a deepening rout in all but the safest assets.

The Standard & Poor’s 500 Index slid 4.8 percent to 1,876.16 at 9:34 a.m. in New York, with the benchmark hitting its lowest level since October.

Calm in the U.S. market shattered last week, with volatility soaring by the most on record as the Dow entered a correction and investors dumped the biggest winners of 2015. A gauge of volatility expectations more than doubled last week. Shares succumbed to a global selloff that’s wiped more than $5 trillion off the value of equities around the world since China’s shock currency devaluation on Aug. 11.

Source : Bloomberg

Dollar falls as currency traders shift Fed rate-hike view to December

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The dollar weakened Thursday, continuing a decline that began after minutes from a July meeting of Federal Reserve policy makers suggested that several of them may not be ready to raise interest rates in September.

The ICE U.S. dollar index a measure of the dollar’s strength against a basket of six currencies, was down 0.4% to 95.9630. It has shed 0.4% of its value so far this week, a significant move for the dollar-strength gauge.

The euro rose 0.8% to $1.1216, a one-week high, while the dollar weakened 0.4% against the Japanese yen to trade at 123.44.

The dollar found its bottom around 10:30 a.m. Eastern, and traded sideways for much of the session as U.S. stock prices dropped sharply.

The Dow Jones Industrial Average and S&P 500 recorded their largest one-day losses since Feb. 3, 2014. And the 10-year yield fell to its lowest level since April 30.

Overall, economic data released Thursday was mixed with jobless claims rising for a fourth straight week last week, while the Philly Fed index – a gauge of manufacturing conditions within the Philadelphia Federal Reserve district – showed manufacturing conditions improved in July.

Source : MarketWatch

Gold Climbs to One Month High as Bets Fall on U.S. Rate Increase

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Gold advanced to the highest in a month as traders scaled back bets on a U.S. interest-rate increase in September after Federal Reserve officials said they needed more evidence that the economy is strengthening.

Gold futures for December delivery rose 2.2 percent to settle at $1,153.20 an ounce at 1:42 p.m.on the Comex in New York. Prices rose to $1,153.70, the highest for a most-active contract since July 15.

Most Fed officials in July “judged that the conditions for policy firming had not yet been achieved,’ the minutes showed. Holdings in bullion-backed exchange-traded products rose 3.4 metric tons to 1,514.6 tons Wednesday, data compiled by Bloomberg show. They’re still near the lowest since 2009.

Silver futures for December delivery gained 2.2 percent to $15.562 an ounce on the Comex. On the New York Mercantile exchange, platinum and palladium rose.

Source: Bloomberg

S&P 500 Drops Most Since February 2014 on Global Growth Concern

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The Standard & Poor’s 500 Index tumbled the most since February 2014 as the selloff in emerging-market stocks deepened, fanning concerns over slowing global growth.

The Standard & Poor’s 500 fell 2.1 percent to 2,035.97 at 4 p.m. in New York, dropping below a trading range it’s been in for most of the year. The Dow Jones Industrial Average lost 355.97 points, or 2.1 percent, to 16,992.76, the lowest level since October. The Nasdaq 100 Index tumbled 2.8 percent, with only four members advancing. The Chicago Board Options Exchange Volatility Index rose for a fourth day, heading for its biggest weekly gain of 2015.

The rout in emerging markets intensified, with Kazakhstan becoming the latest country to stop defending its currency, as developing nations struggle to overcome plunging prices for commodity exports and China’s shock devaluation.

Source : Bloomberg

S&P 500 Erases Gain for Year as Global Growth Concerns Intensify

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The Standard & Poor’s 500 Index erased gains for the year as the selloff in emerging-market stocks deepened, fanning concerns over slowing global growth.

Netflix Inc. lost 7.4 percent as investors targeted the biggest winners of the year. Media stocks were poised for a correction as Walt Disney Co. tumbled 5.1 percent amid an analyst downgrade. Bank of America Corp. and Citigroup Inc. slumped more than 2.7 percent to pace declines among the largest banks.

The Standard & Poor’s 500 fell 1.2 percent to 2,055.19 at 11:52 a.m. in New York, dropping below its average price for the past 200 days. The Dow Jones Industrial Average lost 218.91 points, or 1.3 percent, to 17,129.82. The Nasdaq 100 Index tumbled 1.9 percent, with only six members advancing. The Chicago Board Options Exchange Volatility Index rose for a fourth day, heading for its biggest weekly gain of 2015.

The rout in emerging markets intensified as Kazakhstan abandoned its currency trading peg, joining Vietnam after China’s devaluation. Currency weakness and a slowdown in Chinese growth prompted Citigroup Inc. to cut its 2016 global growth forecast to 3.1 percent from 3.3 percent, its third consecutive downgrade, while holding its 2015 estimate at 2.7 percent.

Source: Bloomberg

Intensifnya Aksi Selloff Saham Eropa ditengah Kecemasan Pertumbuhan Global

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Meningkatnya kekhawatiran bahwa pelemahan pertumbuhan global dan ketidakpastian tentang waktu kenaikan suku bunga AS menyeret saham Eropa melemah untuk hari kedua.

Jeda untuk ekuitas Eropa pada awal pekan ini tidak berlangsung lama, seiring gejolak di pasar negara berkembang melebar. Kazakhstan adalah negara terbaru yang mendevaluasi mata uangnya, menyusul langkah serupa dilakukan oleh China pekan lalu. Indeks FTSE 100 Inggris jatuh untuk hari kedelapan, turun sebesar 10 persen di bawah level tertingginya bulan April lalu, level yang dikenal sebagai koreksi.

Indeks Stoxx Europe 600 anjlok sebesar 2,1 persen ke level 373,44 pada penutupan perdagangan, mencatat penurunan sejak devaluasi mata uang China menjadi 6,6 persen.

Pasar melihat peningkatan volatilitas karena investor menilai waktu kenaikan suku bunga AS. Risalah dari pertemuan Federal Reserve Juli lalu, diadakan sebelum devaluasi yuan, menumpahkan cahaya lebih lanjut tentang apakah para pejabat akan segera menaikan suku bunga pada bulan September mendatang. (izr)

Sumber: Bloomberg

Emas Naik ke Level Tertinggi dalam Satu Bulan

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Harga emas memperpanjang kenaikannya ke level tertinggi dalam satu bulan terakhir pada hari Rabu, pasca rilis risalah dari pertemuan Federal Reserve AS bulan lalu yang mengisyaratkan penurunanan kemungkinan kenaikan suku bunga pada bulan September mendatang, mendorong pelemahan dolar.

Risalah dari pertemuan Juli menunjukkan pembuat kebijakan terus khawatir pada tertahannya laju inflasi dan pelemahan ekonomi global yang menimbulkan risiko terlalu besar untuk berkomitmen untuk "menaikan," meskipun pasar kerja membaik membuat the Fed segera menaikan suku bunga acuannya.

Spot emas naik 1 persen ke level $1,128.66 per ons pukul 2:55 EDT (1855 GMT), pasca menyentuh level tertingginya dalam satu bulan terakhir di level $1,131.90. Pedagang mencatat resistance kuat di level $1.135.

Emas berjangka AS untuk pengiriman Desember ditutup naik 1 persen pada level $1,127.90 per ons.

Harapan bahwa Fed tetap berada di jalur untuk meningkatkan suku bunga untuk pertama kalinya dalam hampir satu dekade terakhir membantu mendorong emas ke level terendah dalam 5-1/2-tahun terakhir pada bulan lalu. Peningkatan suku bunga mengangkat opportunity cost imbal hasil non-emas, sementara meningkatkan dolar.

Namun, bervariasinya rilis data AS dan kekhawatiran atas pertumbuhan ekonomi global dan stabilitas pasca China mendevaluasi yuan pekan lalu, mendorong spekulasi kemungkinan emas akan rebound. (izr)

Sumber: Reuters

Dollar Falls as Traders Trim Bets on September Fed Rate Increase

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The dollar fell after minutes from the Federal Reserve’s latest policy meeting led traders to reduce bets that the central bank will increase interest rates in September.

Most meeting participants “judged that the conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point,” according to minutes of the July 28-29 Federal Open Market Committee session, released Wednesday in Washington.

The Bloomberg Dollar Spot Index fell 0.4 percent to 1,206.87 as of 2:16 p.m. New York time.

Futures show traders see about a 38 percent probability the Fed will raise its benchmark rate at its Sept. 16-17 meeting, based on the assumption that the effective fed funds rate will average 0.375 percent after the first increase. That’s down from 50 percent before the minutes were released. The Fed has kept its key rate in a range of zero to 0.25 percent since December 2008.

Source : Bloomberg

Asian Stocks Fall Fifth Day on Fed Minutes, China Slowdown Fears

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Asian stocks fell for a fifth day after Federal Reserve minutes showed U.S. officials sought more progress on inflation and investors watched China as concerns heighted over the nation’s slowdown.

The MSCI Asia-Pacific Index slid 0.1 percent to 135.87 as of 9:05 a.m. While the Fed’s minutes quelled speculation the central bank will raise rates at its next gathering, China’s shock currency devaluation continued to roil emerging-market assets, with concern China’s slowdown will limit global growth fueling a rout in commodities. Gold and silver gained on haven demand while oil and copper extended losses.

Japan Topix index slid 0.5 percent. South Korea’s Kospi index fell 0.4 percent. Australia’s S&P/ASX 200 Index dropped 0.6 percent. New Zealand’s NZX 50 Index was little changed. Markets in China and Hong Kong have yet to open.

Chinese stocks fell this week after the securities regulator said late Friday the state agency tasked with supporting share prices will reduce buying as volatility falls. China’s richest traders are cashing out of stocks, while a record drop in yuan positions at the central bank and financial institutions last month signaled investors are moving money out of the country.

Source : Bloomberg

Japanese Stocks Fall After Yen Rises on Bets Fed Will Hold Rates

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Japanese stocks fell after the yen strengthened against the dollar as minutes from the Federal Reserve’s latest policy meeting led traders to reduce bets that the central bank will increase U.S. interest rates in September.

The Topix index lost 0.4 percent to 1,641.39 at 9:01 a.m. in Tokyo, with all but six eight of its 33 industry groups retreating. The Nikkei 225 Stock Average declined 0.2 percent to 20,181.21. The yen traded at 123.92 per dollar after gaining 0.5 percent on Wednesday. China’s currency devaluation continued to roil emerging-market assets, with concern over the impact of a Chinese slowdown on global growth fueling a rout in commodities.

E-mini futures on the Standard & Poor’s 500 Index added 0.1 percent after the underlying gauge slipped 0.8 percent in New York on Wednesday.

U.S. policy makers said at their meeting in July that they need to see further improvement in the U.S. labor market and inflation rate before raising rates, the Fed minutes showed. The consumer price index climbed 0.1 percent in July, the smallest advance in three months, a Labor Department report showed Wednesday in Washington.

Source: Bloomberg

U.S. Stocks Fall as Fed Boost Fades Amid Oil Rout, China Concern

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A midafternoon rally in U.S. stocks faded as encouragement from Federal Reserve minutes proved fleeting and investors refocused on China and the global economy.

Stocks briefly trimmed losses as Fed minutes showed policy makers judged conditions for higher rates haven’t been met yet. While that reduced speculation the central bank will raise rates at its next gathering, China’s shock devaluation continued to roil emerging-market assets and threatened to slow global growth amid a rout in commodities.

The Standard & Poor’s 500 Index fell 0.8 percent to 2,079.61 at 4 p.m. in New York, hovering above its average price for the past 200 days. The gauge nearly erased all of its losses after the minutes were released, before it resumed a slide. The Dow Jones Industrial Average lost 162.61 points, or 0.9 percent, to 17,348.73.

Caterpillar Inc. and Freeport-McMoRan Inc. paced declines as raw-material and industrial shares slumped more than 1 percent as a group. Energy shares tumbled the most since January as an unexpected increase in U.S. crude stockpiles sent oil prices deeper into a bear market.

Source : Bloomberg

Dollar edges higher for third straight session

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The dollar was on track to finish higher against a basket of rivals for a third session Tuesday, as investors were cautious ahead of what many expect to be a volatile session Wednesday.

A reading on U.S. consumer-price inflation in July is expected then, along with minutes from the July meeting of Federal Reserve policy makers. In Europe, meanwhile, investors are anxious to see whether the German parliament will support a third bailout package for Greece.

The ICE U.S. Dollar index, a measure of the dollar’s strength against a basket of six rivals, was up 0.2% to 96.9600. The index had traded above the 98 level as recently as a week and a half ago.

U.S. housing starts rose 0.2% in July to the highest annual rate since October 2007. But the dollar shrugged off the strong reading, just as it ignored a weak reading from the Empire State Manufacturing index on Monday.

The yuan shed about 3% of its value versus the dollar after Chinese policy makers announced a major shift in their methodology for controlling the yuan’s value a week ago. But the Chinese currency has been relatively stable since Friday. Since then, it has traded around 6.40 to the dollar.

Elsewhere, the euro fell 0.4% to $1.1030; the dollar was little changed versus the yen at ¥124.43; and the British pound rose 0.6% to $1.5682 after official data showed that the U.K. consumer-prices index rose 0.1% in July. By comparison, the index was flat in June.

Source: MarketWatch