Chip Stocks Weaken, Oil Steady as Investors Await Hormuz Progress
Chip stocks fell in Asia and the U.S. as investors once again grew nervous about the durability of artificial-intelligence spending, while oil held steady in early European trade.
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Eurozone Retail Sales Retreat as Consumers Still Fret Over War
Retail sales in the eurozone fell in June and was the second decline in the four full months since the start of the war against Iran.
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Scott Bessent's Yen Trade Has Unintended Consequences for the Markets
The way it's being done should make us worry that the Federal Reserve is being roped into easing monetary conditions.
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Trump Has Called Warsh Repeatedly Since He Became Fed Chair
The president has sought Kevin Warsh's counsel on issues such as how the war in Iran is affecting the economy.
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German Factory Orders Continue to Defy Mounting Headwinds
While input costs have risen sharply, demand is proving resilient as businesses stockpile essential parts and equipment to avoid further disruption from tensions in the Middle East.
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Negotiators Close In on Deal With Iran to Open Hormuz
A draft agreement would give Tehran oversight of ships entering the Persian Gulf but wouldn't let it levy tolls or service fees.
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Private-Sector Hiring Missed Expectations in July, ADP Report Says
Private companies added a net 44,000 jobs in July after adding a revised 95,000 jobs in June, human-resources company ADP said.
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Brazil's Central Bank Cuts Rates as Inflation Eases
The bank's monetary committee cut the Selic benchmark lending rate to 14% from 14.25%, but indicated that uncertainty around its inflation projections remains higher than usual.
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Home-Building Is Sputtering, but Lumber Prices Haven't Been So High in Years
Steep duties on Canadian lumber, wildfires and sawmill closures have cut supply and pushed up prices.
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U.S. Crude Oil Inventories Post Weekly Increase
Commercial crude oil stockpiles were up by 2.5 million barrels in the week ended July 31. Inventories were expected to have fallen by 1.2 million barrels.
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U.S. Services-Sector Activity Continued to Expand in July
The Institute for Supply Management's purchasing managers index for services providers was 54.1 in July compared with 54 in June.
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Treasury Decides Not to Increase Long-Term Bond Issuance Anytime Soon
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U.S. to Halt Key Metal Waste Exports in Push to Break China Reliance
The move comes as Washington races to secure the raw materials that are crucial for defense and other industries.
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Inflation Problem Isn't Only About Energy, Fed's Schmid Says
Kansas City Fed President Jeff Schmid said Tuesday that the Federal Reserve's inflation problem isn't only about energy, and bringing inflation down to the Fed's 2% objective will require tighter policy.