News

Sources say that Chevron (CVX.N), KEO Capital, Italian oil company Eni, and Primavera will soon sign an energy agreement in Venezuela.

U.S. Commerce Secretary Lutnick: Interest rates will stabilize and begin to decline over the next six months.

U.S. Commerce Secretary Lutnick: Semiconductor tariffs are under consideration.

U.S. Commerce Secretary Lutnick: Semiconductors will be manufactured in the United States.

U.S. Commerce Secretary Lutnick: We will succeed in the semiconductor field.

U.S. Commerce Secretary Lutnick: If you build a factory in the United States, we will give you tariff reductions.

British government bonds narrowed earlier losses, with the 10-year yield rising 4 basis points to 5.26%.

British Prime Minister Burnham: This government will adhere to fiscal rules.

British Prime Minister Burnham: We set the budget date in advance to shorten the period of speculation.

British Prime Minister Burnham: Market turmoil stems from the Conservative government's record of continuously increasing debt.

Indian Commerce and Industry Minister Goyal: India will sign free trade agreements with more countries around the world to acquire key mineral resources.

Indian Commerce and Industry Minister Goyal: India will sign free trade agreements with the Gulf Cooperation Council and Israel once the regional situation stabilizes.

U.S. Commerce Secretary Lutnick: Canada does not respect us.

1. Inflation and Prices ① Inflation: The CPI rose 3.0% year-on-year in July (2.8% in June), 0.5% month-on-month, and 0.3% month-on-month after seasonal adjustment. Excluding gasoline, the CPI remained stable at 2.2% year-on-year for the third consecutive month. Gasoline prices rose 25.7% year-on-year. The median CPI rose 2.0% year-on-year in July (1.9% in June), and the cut-off CPI rose 1.9% year-on-year (unchanged from June). ② Industrial Product Price Index: The CPI rose 0.6% month-on-month and 12.4% year-on-year in July; excluding energy and petroleum products, it fell 0.2% month-on-month. Energy and petroleum product prices rose 6.4% month-on-month. ③ Raw material price index: July saw a 2.2% month-on-month decrease and an 18.1% year-on-year increase; excluding crude oil and energy products, it decreased by 1.5% month-on-month and increased by 16.7% year-on-year. Crude oil and energy product prices decreased by 3.6% month-on-month. 2. Economic Growth: Second-quarter GDP grew by 0.8% quarter-on-quarter, while the first-quarter growth rate was revised upward from 0.0% to 0.1%. Second-quarter growth was mainly driven by exports, household consumption, and corporate capital investment. 3. Employment: ① Number of employed: July saw an increase of approximately 75,000 employed persons, a 0.4% month-on-month increase, bringing the total number of employed persons to 21.215 million. ② Unemployment rate: The unemployment rate fell to 6.4% in July, a decrease of 0.1 percentage points from June. ③ Wages: Average hourly wages rose 2.8% year-on-year in July, lower than the 3.3% increase in June. 4. Retail Sales Leading indicators suggest that retail sales may have declined 0.8% month-on-month in July. Retail sales rose 0.6% month-on-month to C$74.3 billion in June. Nominal retail sales rose 2.2% quarter-on-quarter in the second quarter, while real sales volume increased by 0.4%. 4. Trade Merchandise exports rose 0.4% month-on-month to C$77.5 billion in June, while merchandise imports rose 0.2% month-on-month to C$73.6 billion, resulting in a trade surplus of C$3.9 billion, compared to C$3.7 billion in May, marking the fourth consecutive month of surplus. 5. Other Surveys ① Business Outlook: The Bank of Canada's second-quarter survey showed that business confidence deteriorated again after three consecutive quarters of improvement, with a slightly weaker sales outlook. The proportion of businesses expecting a recession in the next 12 months rose from 9% to 17%, and business expectations for input prices, sales prices, and inflation all increased. ② Consumer Expectations: The Bank of Canada's second-quarter survey showed a slight increase in the proportion of consumers who believe inflation will exceed 3% in the next 12 months, and two-year and five-year inflation expectations also rose slightly.

The MBA Mortgage Refinancing Activity Index for the week ending August 28 was 732.6, compared to 740.8 in the previous week.

The MBA mortgage application activity index in the United States for the week ending August 28 was 247.3, compared with 245.3 previously.

The MBA 30-year fixed mortgage rate in the United States for the week ending August 28 was 6.79%, compared to 6.78% previously.

The MBA Mortgage Purchase Index for the week ending August 28 was 157.8, compared to 154.4 previously.

European Commission Executive Vice President Dombrovskis and Ukrainian Prime Minister Koletsky will speak by phone next week.

Amazon India (AMZN.O): Expanding its workforce will help enhance logistics capabilities during the holiday season.