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Canadian dollar bounces from 3-week low as oil rallies

TORONTO, Sept 11 (Reuters) - The Canadian dollar rebounded from a three-week low against its U.S. counterpart on Wednesday as oil prices rallied and despite American inflation data that tempered expectations for an oversized interest rate cut by the Federal Reserve.The loonie was trading 0.2% higher at 1.3580 to the U.S. dollar, or 73.64 U.S. cents, after earlier touching its weakest level since Aug. 21 at 1.3622.

S&P 500 closes up on tech boost; inflation data dents hopes for big Fed rate cut

Putin says Russia should consider limiting exports of uranium, titanium and nickel

Russian President Vladimir Putin said on Wednesday that Moscow should consider limiting exports of uranium, titanium and nickel in retaliation for Western sanctions.Putin’s remarks to government ministers prompted a rise in nickel prices and drove shares in uranium mining firms higher.In televised comments, he said such restrictions could also be introduced for other commodities, and noted that Russia was a major producer of natural gas, diamonds and gold.But he said that measures did not need to be taken “tomorrow”, and must not cause damage to Russia itself.

Nippon Steel makes last ditch effort to win US nod on US Steel deal

A top Nippon Steel executive plans to meet with senior US officials on Wednesday to try and salvage the firm’s $14.9 billion bid for US Steel, a person familiar with the matter said.The meeting, which will feature Takahiro Mori, a key negotiator on the deal, is also expected to include Treasury Deputy Secretary Wally Adeyemo and Commerce Deputy Secretary Don Graves among other officials, the person said, declining to be named because he was not authorized to speak about the matter.

Codelco seals early contract deal with Ministro Hales union

Chile’s state copper miner Codelco said on Wednesday it has reached an early contract agreement with the Ministro Hales workers union.The new three-year contract will take effect in December.Union negotiations at Chilean copper mines are being closely watched by analysts and investors since a strike last month at BHP’s Escondida, the world’s largest copper mine, which resulted in an improved bonus for workers.

US inflation trending lower, but some stickiness remains

WASHINGTON, Sept 11 (Reuters) - U.S. consumer prices rose slightly in August, but underlying inflation showed some stickiness amid higher costs for housing and other services, further dashing hopes of a half-point interest rate cut from the Federal Reserve next week.The mixed inflation report from the Labor Department on Wednesday followed data last week showing the labor market still cooling in an orderly fashion in August, defying fears of a sharp deterioration, with the unemployment rate retreating from a near three-year high touched in July.

Bank dividends catapult Q2 global payouts to record highs

Banks continued to propel global dividends to record highs in the second quarter of 2024 as higher interest rates boosted profits, allowing them to pay out bigger returns to shareholders compared with the previous year.Payouts jumped to a record $606.1 billion in the second quarter from $568.1 billion a year earlier, the Global Dividend Index report by Janus Henderson showed on Monday.WHY IT'S IMPORTANT

Wall Street lower after latest inflation data, Harris-Trump debate

Peru copper output down 2.3% this year through July, data shows

Copper production in Peru, the world’s No. 3 producer of the key industrial metal, fell 2.3% this year through July compared to the same period a year before, according to official data.Output in the period was 1,512,607 metric tons, the energy and mining ministry said on its website.In July alone, Peru produced 222,389 tons of copper, a 3.2% drop from the year before.After years as the world’s second largest copper miner after Chile, Peru last year lost its position to the Democratic Republic of the Congo.

Fed expected to deliver quarter-percentage-point rate cut next week

Sept 11 (Reuters) - U.S. central bankers will likely start long-awaited interest rate cuts next week with a quarter-of-a-percentage-point reduction, as they seek to reduce the odds of a recession even as stubbornly intact underlying price pressures put them off more aggressive action.

US dollar mixed as inflation data backs smaller Fed rate cut

NEW YORK, Sept 11 (Reuters) - The U.S. dollar was mixed overall on Wednesday in choppy trading after data showed underlying inflation in the world's largest economy rose in August, reinforcing expectations that the Federal Reserve will likely undertake a smaller rate cut of 25 basis points later this month.

Gold falls as CPI data dampens talk of over-sized US rate cut

Sept 11 (Reuters) - Gold prices fell on Wednesday as the dollar and Treasury yields firmed after U.S. inflation data prompted investors to scale back expectations of an over-sized rate cut from the Federal Reserve next week.Spot gold was down 0.4% at $2,505.17 per ounce at 9:40 a.m. ET (1340 GMT). U.S. gold futures were down 0.4% to $2,533.70.

Fed seen cutting policy rate by 25 bps next week

Sept 11 (Reuters) - U.S. central bankers will likely start a series of interest-rate cuts next week with a quarter-of-a-percentage point reduction, traders bet on Wednesday, as government data showed inflation cooled in August from a year earlier, but a measure of underlying inflation remained sticky.

US crypto stocks fall on rising bets on Harris' win after presidential debate

Shifting election bets boost solar stocks, weigh on crypto after fiery debate

NEW YORK, Sept 11 (Reuters) - Investors scrambled to shift their positioning on Wednesday following a closely-watched debate between Republican Donald Trump and Democratic Vice President Kamala Harris, as betting markets swung in Harris’ favor after the event.Shares of Trump Media & Technology Group, the company that owns the Truth Social, slumped around 14% in premarket trading, while solar stocks rallied.

Goldman Sachs appoints three co-heads of Asia M&A to bolster regional presence

HONG KONG, Sept 11 (Reuters) - Goldman Sachs (GS.N), opens new tab has appointed Raghav Maliah, Yoshihiko Yano and Ed Wittig as co-heads of mergers and acquisitions in Asia Pacific to expand and deepen deals coverage in the region, according to an internal memo on Tuesday seen by Reuters.Wittig is joining the bank's Asia team later this year from New York, where he is currently global head of Industrials M&A and Aerospace and Defense, the memo said.

US banks extend slide as investors weigh sobering outlook from executives

US stocks and dollar defensive, bonds rally as Harris harries Trump

S&P 500 ends slightly higher but banks and energy weigh

Sep 10, 2024 - 5:08 PM

Oil drops on demand outlook, Brent trades below $70, near 3-year low

Sep 10, 2024 - 3:17 PM

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