46m ago
Metal prices strengthen in August as rising input costs emerge as key hurdle, report says
Metal prices broadly strengthened in August, with India rebar up nearly 10% month on month and 12% year on year, while hot-rolled coil prices in the U.S. and Europe rose about 3%. Aluminium increased to $3,251 per tonne. Global crude steel output fell around 4% month on month to 149.2 million tonnes in July, with China down about 4% year on year and production outside China up 3%. Australian iron ore prices declined about 2% month on month and 3% year on year, according to a Centrum report.
46m ago
1h ago
U.S. inflation picks up in August as core CPI posts biggest gain in four months, lifting rate-hike odds
U.S. consumer prices rose faster in August, with core inflation recording its largest increase in four months as higher energy costs added to price pressures. Rate-hike expectations strengthened, with FedWatch showing the probability rising to 87%. Oil climbed back above $100 a barrel and motor fuels including diesel jumped 9.6% over the week, pushing up inflation expectations. The Federal Reserve faces a more urgent policy trade-off between restoring price stability and supporting economic growth.
1h ago
5h ago
Anthropic in talks to bring Nvidia in as anchor investor for up to $100 billion IPO
AI startup Anthropic is in talks with Nvidia to bring the chipmaker in as an anchor investor for what could become the largest IPO in history, Reuters reported, citing people familiar with the matter. Anthropic is seeking to raise as much as $100 billion, valuing the company at around $2 trillion, while Nvidia is weighing an investment of up to $10 billion. Anthropic has already committed to buy $30 billion of Microsoft Azure computing capacity powered by Nvidia chips, and in April said it would commit more than $100 billion over a decade to Amazon’s AWS while using more than 1 million of Amazon’s Trainium2 chips.
5h ago
8h ago
Investors brace for a possible 25-basis-point rate hike at the Fed’s Sep 16 meeting
A pickup in U.S. inflation in August has reinforced market expectations that the Federal Reserve will raise rates by 25 basis points on Wednesday. Inflation has remained above the Fed’s 2% target, following a jobs report that also surprised to the upside. Rising U.S.-Iran tensions have also helped push oil prices above US$100 a barrel, adding another layer of uncertainty for investors weighing the market outlook.
8h ago
8h ago
Dollar edges up after August CPI rises 0.4% as oil stays above $100 a barrel
The dollar strengthened slightly against the euro and Swiss franc after U.S. consumer prices rose 0.4% in August, lifting expectations the Federal Reserve could raise interest rates next week. Gains were limited as escalating tensions in the Middle East kept oil above $100 per barrel and added to inflation concerns. The yen firmed on speculation the Bank of Japan may hike rates, underscoring persistent uncertainty around inflation and geopolitical risks.
8h ago
8h ago
White House weighs Defense Production Act as U.S. refineries run at 98% capacity
The White House is weighing the use of the Defense Production Act to boost U.S. refining capacity as domestic refineries run at 98% utilization and diesel tops $6 per gallon for the first time. Refinery utilization stayed above 95% for three straight months through late August, the longest stretch since 2000. The market has tightened after about 7 million bpd of capacity went offline in Asia and the Middle East and another 1.4 million bpd became unavailable in Russia, according to Phillips 66. U.S. diesel inventories are now 13% below their fiveyear average.
8h ago
8h ago
Wall Street closes higher as CPI pickup lifts Wednesday rate-hike odds to nearly 90%
U.S. stocks finished higher on Friday after an acceleration in consumer prices reinforced expectations that the Federal Reserve will raise interest rates at its policy meeting on Wednesday. The Dow, S&P 500 and Nasdaq all advanced, while Dell jumped to a record high. Rate futures imply a nearly 90% chance of a hike, according to the CME FedWatch tool. Oil prices fell on the day but were still up around 9% for the week amid concerns about Middle East supply disruptions.
8h ago
9h ago
BlackBerry shares jump more than 150% from 52-week low in 2026 as company targets US$100 million operating cash flow in fiscal 2027
BlackBerry shares rose more than 150% from their 52-week low at points in 2026, even after a recent pullback. The company expects to generate about US$100 million in operating cash flow in fiscal 2027. In the latest quarter, first-quarter revenue increased 26% year over year to US$152.9 million, while QNX revenue rose about 26% to US$72.3 million and adjusted EBITDA jumped 144% to US$36.3 million. A recent analyst estimate put fair value at $7.40 per share.
9h ago