Oil Prices Rise Amid Hurricane Francine Concerns, but Demand Worries Limit Gains Oil prices edged higher during Asian trading on Thursday, driven by concerns that Hurricane Francine could disrupt production in the United States, the world’s largest crude producer. However, worries over weakening demand capped further gains. Brent crude futures for November delivery climbed 40

U.S. Housing Costs Rise for Renters and Homeowners, With Disparities by Race The median cost of housing for both renters and homeowners in the U.S. increased in 2023, though the share of income renters dedicated to housing remained steady overall, according to a report from the Census Bureau released on Thursday. However, the extent to

A Look at the Day Ahead in European and Global Markets by Stella Qiu Asian stock markets traded broadly higher as investors rekindled their interest in technology stocks, particularly Nvidia (NASDAQ: NVDA). Meanwhile, markets turned their focus towards a near-certain rate cut by the European Central Bank (ECB), and potential hints on future monetary moves.

The U.S. dollar hovered near a four-week high against the euro on Thursday, supported by persistent inflation data that bolstered expectations the Federal Reserve would avoid making a large interest rate cut at its upcoming meeting. Meanwhile, the European Central Bank (ECB) is widely expected to announce a quarter-point rate cut later in the day,

Gold prices edged higher in Asian trading on Thursday, remaining close to record levels as traders anticipated that the yellow metal would continue to benefit from a lower interest rate environment. However, expectations for a significant rate cut by the Federal Reserve diminished after core consumer price index (CPI) data for August came in higher

Asian chipmaking stocks surged on Thursday, following an overnight rally in Nvidia after CEO Jensen Huang made optimistic remarks regarding artificial intelligence (AI) demand. Nvidia’s suppliers, including Taiwan Semiconductor Manufacturing Company (TSMC), SK Hynix, Hon Hai Precision Industry (Foxconn), and Advantest Corp., saw gains ranging between 4% and 8%. Broader semiconductor stocks also performed well,

Most Asian currencies traded within a narrow range on Thursday, while the U.S. dollar strengthened after a robust U.S. consumer inflation report dampened expectations for significant Federal Reserve interest rate cuts. Japan’s yen weakened further due to soft inflation data, moving off its eight-month highs. Despite this, the yen remained relatively strong as hawkish remarks