Asian Stocks to Slip on Iran Concerns, Oil Climbs: Markets Wrap

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessAsian Stocks to Slip on Iran Concerns, Oil Climbs: Markets WrapStocks in Asia looked set to edge lower Friday after a resurgence in geopolitical tensions jolted global markets, sending equities and bonds lower as oil jumped, reviving inflation concerns ahead of the US jobs report.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.lvyin2unx224cb[o93g2y}1d_media_dl_1.png ICE(Bloomberg) — Stocks in Asia looked set to edge lower Friday after a resurgence in geopolitical tensions jolted global markets, sending equities and bonds lower as oil jumped, reviving inflation concerns ahead of the US jobs report.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountEquity-index futures pointed to modest declines in Japan, Hong Kong and Australia, while contracts for South Korea edged higher. US equity futures were little changed after the S&P 500 fell 0.2% on Thursday, leaving the benchmark on course for a second consecutive decline. The tech-heavy Nasdaq 100 dropped 0.4%.US crude rose over 1% on Friday as escalating tensions in the Middle East and lack of clarity on a deal to revive the Strait of Hormuz drove the commodity higher. Higher energy prices revived concerns the Federal Reserve may need to keep interest rates higher for longer, sending the 10-year Treasury yield up seven basis points to 4.68%. The dollar posted its biggest gain in two weeks, while gold held near $4,240 an ounce.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInvestors now turn their attention to Friday’s US employment report for fresh clues on the Fed’s policy path. A stronger-than-expected payrolls print may reinforce expectations that interest rates will remain higher for longer, while any further escalation in Middle East tensions risks keeping energy prices elevated and adding another source of volatility for global markets.“Near-term risks remain, especially if US data stay firm, oil prices keep inflation concerns alive, or markets continue to price in a more hawkish Federal Reserve rate path,” said Ulrike Hoffmann-Burchardi at UBS Chief Investment Office.Iran will seek to bar US and Israeli ships from the Strait of Hormuz and require compensation from countries it considers hostile before allowing passage, according to local media reports on a proposed Iran-Oman agreement to manage the strategic waterway.The reports come as officials in both Washington and Tehran have signaled that an accord may be close. President Donald Trump, who recently stepped back from threats to resume military strikes on Iran, said Thursday negotiations were “going fine” and that he was involved, but declined to say whether a deal had been reached.Separately, Fars news agency said Iranian naval forces had struck “hostile targets” at the entrance to the strait.“Wall Street is reversing again from sharp recent gains, as a lack of clarity over the Strait of Hormuz has investors questioning whether the strong rally at the start of the week was justified by perceived improvements in geopolitical negotiations,” said José Torres, senior economist at Interactive Brokers.US economic data released Thursday highlighted the resilience of the US labor market, leaving inflation as the key variable for the Fed’s September meeting. Initial jobless claims remained below 200,000 for a third consecutive week, while a separate report showed labor productivity accelerated by more than expected in the second quarter as companies worked to offset higher costs.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.Attention now shifts to Friday’s payrolls report. Economists surveyed by Bloomberg expect employers added 80,000 jobs in July, following a weaker-than-expected gain of 57,000 in June. The report is expected to provide the clearest signal yet on whether the labor market is cooling enough to support expectations for Fed easing later this year.“Friday’s jobs report is of greater importance for markets given how fast this stock market has rallied over the past week, and ultimately we will need to see a number that is not too hot and not too cold in order for the market to keep grinding higher,” said Clark Bellin at Bellwether Wealth.Alphabet Inc. is set to raise $25 billion from a bond sale after generous yield payouts helped secure one of the year’s largest order books for AI-related debt.Japanese beverage maker Kirin Holdings Co. is acquiring Toronto-based Jamieson Wellness Inc. in a deal that values the Canadian vitamins and supplements maker at about C$2 billion ($1.4 billion).DeepSeek has resumed its second funding round, seeking close to $8 billion, with Monolith Management in talks to contribute, according to people familiar with the matter.Deutsche Bank AG and KBC Group NV have frozen some of the company’s Singapore bank accounts, while some other banks have suspended credit lines, according to people familiar with the matter who asked not to be identified due to the sensitivity of the subject.Some of the main moves in markets:S&P 500 futures were little changed as of 7:08 a.m. Tokyo timeHang Seng futures were little changedS&P/ASX 200 futures were little changedThe Bloomberg Dollar Spot Index rose 0.2%The euro was little changed at $1.1521The Japanese yen was little changed at 158.51 per dollarThe offshore yuan was little changed at 6.7494 per dollarThe Australian dollar was little changed at $0.7031Bitcoin was little changed at $64,366.57Ether was little changed at $1,904.52West Texas Intermediate crude rose 1% to $78.09 a barrelSpot gold was little changedThis story was produced with the assistance of Bloomberg Automation.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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