Global Markets React to US Inflation Data and Nvidia Earnings Anticipation
4 sources across 4 countries · Brazil · Italy · United Kingdom · United States
Who reported this
- CNN Brasil
- Corriere della Sera
- Reuters
- Associated Press
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
- A hatched block means the outlet is affiliated with, or controlled by, a state.
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Political lean is comparable inside one country and not across them, which is why the bar groups by country first. Publicly funded broadcasters are not marked as state-linked.
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Global financial markets are experiencing mixed movements as investors react to US inflation data and await quarterly earnings from Nvidia. In the United States, Wall Street opened weakly with the Nasdaq, Dow Jones, and S&P 500 all seeing declines. This trend is attributed to the July Personal Consumption Expenditure (PCE) index reaching 3.7 percent, which was above analyst expectations and has fueled bets for further rate hikes. US futures also slipped ahead of the inflation read and Nvidia's results.
European markets showed more strength, with indices in Milan, Paris, Frankfurt, Madrid, Amsterdam, and London all trading in positive territory. In Brazil, the Ibovespa advanced, supported by a domestic inflation preview that came in below expectations, although this growth was tempered by the US inflation figures. The US dollar rose against the Brazilian real.
Oil prices declined, with Brent and WTI both dropping. Some reports attribute this fall to negotiations between Oman and Iran regarding a temporary navigation corridor and mine clearing in the Strait of Hormuz. However, an Iranian deputy foreign minister warned that the strait would only reopen if the US ends its blockade of Iranian ports and resolves the situation in Yemen. Investors are also looking forward to the start of the Jackson Hole symposium.
How each side framed it
- Centre
- These outlets focused on the technical market data, specifically the impact of inflation figures and corporate earnings on stock indices.
- Centre-right
- This outlet provided more geopolitical context, linking the drop in oil prices to specific diplomatic negotiations between Iran and Oman.
Sources
- Centre Associated Press: US futures slip ahead of newest read on inflation and quarterly earnings from Nvidia - AP News
- Centre CNN Brasil: Ibovespa advances after "inflation preview" and drop in oil; dollar rises
- Centre-right Corriere della Sera: Stock markets live, oil today August 26 | Europe up, Wall Street uncertain after US inflation above expectations
- Centre Reuters: Wall St muted ahead of Nvidia results, hot inflation fuels rate-hike bets - Reuters
100% of the statements in this article were traced back to the source articles listed above.