Russia targets Ukraine's port of Odesa and calls it payback for a strike on a key bridge to Crimea
Ukraine said its forces shot down Russian drones and cruise missiles targeting the Black Sea port of Odesa in what Moscow called โretributionโ for an attack that damaged a crucial bridge to the Crimean Peninsula.
Russia halts landmark deal that allowed Ukraine to export grain at time of growing hunger
Russia has halted a breakthrough wartime deal that allows grain to flow from Ukraine to countries in Africa, the Middle East and Asia where hunger is a growing threat and high food prices have pushed people into poverty.
China defends buzzing American warship in Taiwan Strait, accuses US of provoking Beijing
Chinaโs defense minister has defended sailing a warship across the path of an American destroyer and Canadian frigate transiting the Taiwan Strait, telling a gathering of some of the worldโs top defense officials in Singapore that such so-called โfreedom of navigationโ patrols are a provocation to China.
US Defense Secretary Austin says Washington won't stand for 'coercion and bullying' from China
American Secretary of Defense Lloyd Austin says Washington would not stand for any โcoercion and bullyingโ of its allies and partners by China, while assuring Beijing that the United States remains committed to maintaining the status quo on Taiwan and would prefer dialogue over conflict.
Ukraine pushes to extend wartime grain deal at talks with Russia, Turkey and U.N.
Kyiv is seeking to extend the unprecedented wartime deal that allows grain to flow from Ukraine to countries in Africa, the Middle East and Asia where hunger is a growing threat, a top Ukrainian official said Thursday after the talks on prolonging the agreement concluded in Turkey.
Russia, Ukraine extend grain deal to aid world's poor
Turkish President Recep Tayyip Erdogan and Ukrainian officials say an unprecedented wartime deal that allows grain to flow from Ukraine to countries in Africa, the Middle East and Asia where hunger is a growing threat and high food prices are pushing more people into poverty has been extended.
Russian arms dealer, son and front firms hit with sanctions
A Russian arms dealer, his son and a group of front companies across Asia, Europe and the Middle East and their leadership have been targeted for U.S. sanctions in an effort to quell Russiaโs access to weapons to continue its invasion of Ukraine.
Suez Canal blockage adds to pressure points in global trade
This satellite image from Maxar Technologies shows excavation work in an atempt to free the cargo ship MV Ever Given that is stuck in the Suez Canal near Suez, Egypt, Sunday, March 28, 2021. (Maxar Technologies via AP)Delays in freeing a mammoth container ship stuck in Egyptโs Suez Canal have highlighted still more pressure points in global trade, a year after supply chains were disrupted by the pandemic. About 12% of global trade by volume goes through the Suez Canal, but it accounts for 30% of the worldโs daily shipping container freight. Nearly 10% of oil shipments and 8% of global liquid natural gas moves through the Suez Canal, according to the U.S. Energy Information Administration. The disruption from the canal blockage comes at tricky time for international trade and shipping, noted Fiona Boal, global head of commodities at S&P Dow Jones Indices.
S&P 500 returns to a record high after best day in weeks
Stocks rose in afternoon trading on Wall Street Friday with technology companies and banks leading the way higher. The Dow Jones Industrial Average rose 453.40 points, or 1.4%, to 33,072.88, and both it and the S&P 500 set all-time highs. The higher yields helped lift stocks of banks, in part because higher interest rates allow them to make bigger profits from making loans. Steelmaker Nucor climbed 8.9% for the biggest gain in the S&P 500, and miner Freeport-McMoRan rose 5.9%. AdSince interest rates began rising last autumn, tech stocks have been most caught within the the market's crosswinds.
EXPLAINER: Suez Canal block could hit product supply chains
This satellite image from Cnes2021, Distribution Airbus DS, shows the cargo ship MV Ever Given stuck in the Suez Canal near Suez, Egypt, Thursday, March 25, 2021. Lloydโs says more than 50 ships traverse the canal on an average day, carrying 1.2 billion tons of cargo. The Suez situation could compound issues for a supply chain already under pressure from the pandemic and a surge in buying. AdJim Burkhard, who heads crude oil research at IHS Markit, said the impact on the global oil market will be limited if the canal is cleared soon. Wood Mackenzie analyst Lucas Schmitt said only a few LNG shipments were near the canal when the blockage occurred.
Asian stocks advance on optimism over pandemic recovery
Shares were higher across Asia on Friday after a strong gains on Wall Street driven by hopes for a powerful recovery from the pandemic. (AP Photo/Lee Jin-man)BANGKOK โ Shares were higher across Asia on Friday after a strong gains on Wall Street driven by hopes for a powerful recovery from the pandemic. Tokyo, Hong Kong, Seoul and Shanghai all gained and U.S. futures also were higher. Investors have been moving money away from expensive tech stocks as part of a broader shift to stocks tied more closely to economic growth. The Russell 2000 index of smaller stocks outdid the rest of the market, climbing 2.3% to 2,183.12.
Supply bottlenecks leave ships stranded, businesses stymied
In this Wednesday, March 3, 2021 photo, container cargo ships are seen docked in the Port of Los Angeles. The pandemic has wreaked havoc with the supply chain since early 2020, when it forced the closure of factories throughout China. The cluster of ships offshore are perhaps the most dramatic symptom of an overwhelmed supply chain. Ships holding as many as 14,000 containers have sat offshore, some of them for over a week. But when all those trucks hit the road, there arenโt enough available when dockworkers are trying to unload the next ships in port.
Asian markets follow Wall St lower after Fed bump
Asian stock markets followed Wall Street lower on Friday after rising U.S. bond yields pulled stocks lower, dampening enthusiasm driven by the Federal Reserve's promise of low interest rates. (AP Photo/Eugene Hoshiko)BEIJING โ Asian stock markets followed Wall Street lower on Friday after rising U.S. bond yields dampened buying enthusiasm driven by the Federal Reserve's promise of low interest rates. Overnight, Wall Street's benchmark S&P 500 index closed down 1.5%, putting it on track for its first weekly loss in three weeks. The S&P 500 fell to 3,915.46. Bank stocks did well because investors bet higher interest rates would translate into higher profits.
Asia shares mostly higher after US stocks gain for fifth day
(AP Photo/Ahn Young-joon)BANGKOK โ Asian shares mostly rose on Tuesday, cheered by a rally to all-time highs on Wall Street. On Wall Street, the S&P 500 rose 0.7% to 3,368.94 after having been down 0.5% in early trading, extending its winning streak to a fifth day. Technology stocks, airlines, cruise operators and other companies that rely on consumer spending helped lift the market. The mild drop in yields has affected bank stocks, where investors have placed big bets that higher yields would translate into banks charging borrowers higher rates. The bond market has pulled tech stocks mostly lower this year, because as yields push interest rates higher, they make high-flying stocks look expensive.
China, North Korea loom as Blinken, Austin head to Asia
That makes consultations with the reclusive country's neighbors, Japan, South Korea and China, all the more critical. Meanwhile, U.S. and South Korean negotiators have overcome years of contentious discussions under Trump to reach a tentative deal on paying for the American troop presence in South Korea. He served in the Philippines and Indonesia during the Trump administration and was also previously the special envoy for North Korea. For all of Biden's suggestions that he will reverse Trump's overt hostility to China, Biden has yet to countermand a single one of his predecessor's policies. โAfter the work of the past 50 days, Secretary Blinken and I will enter the meeting with senior Chinese representatives from a position of strength,โ Sulllivan said Friday.
With sale of the Venetian, Las Vegas Sands exits the Strip
FILE - This Aug. 2, 2005 file photo shows the Venetian Hotel and Casino on the Las Vegas Strip. Las Vegas Sands is selling the real estate and operations of its Venetian casino resort and Sands Expo and Convention Center to VICI Properties and Apollo Global Management in a deal worth $6.25 billion. Under Adelson, the company's focus turned to Asia years ago, where revenue eventually outpaced even the operations on the Las Vegas Strip. AdThe global pandemic broadsided Las Vegas, shuttering the Strip where Las Vegas Sands has been the biggest operator for years. The Venetian, located on the Las Vegas Strip, has three luxury hotel towers with gaming, entertainment, shopping and dining.
Asian shares track Wall St decline as bond yields rebound
Asian shares fell Thursday, tracking a decline on Wall Street as another rise in bond yields rattled investors who worry that higher inflation may prompt central banks to raise ultra-low interest rates. (AP Photo/Ahn Young-joon)BANGKOK โ Asian shares fell Thursday, tracking a decline on Wall Street as another rise in bond yields rattled investors who worry that higher inflation may prompt central banks to raise ultra-low interest rates. Shares have yoyo'd recently with fluctuations in bond yields. When yields rise quickly, as they have in recent weeks, it forces Wall Street to rethink the value of stocks. U.S. government bond yields rose Wednesday after easing a day earlier.
Asian stocks follow Wall Street higher after Fed pledge
Major indexes are off to a mixed start on Wall Street as gains for banks and industrial companies are offset by losses in Big Tech stocks like Apple and Amazon. (AP Photo/Mark Lennihan)BANGKOK โ Asian stock markets followed Wall Street higher Thursday after the Federal Reserve chairman said the U.S. central bank is in no hurry to withdraw support for the economy. Overnight, Wall Street hit a new high after chairman Jerome Powell said the Fed sees no sign inflation might rise out of control. Global stock prices have soared over the past six months on hopes for a coronavirus vaccine and central bank promises of abundant credit to support struggling economies. The central bank earlier indicated it would let the economy โrun hotโ to make sure a recovery is well-established following the deepest slump since the 1930s.
Asian shares slip on jitters over inflation, interest rates
Shares fell in Asia on Wednesday as investors weighed the possibility that inflation might prompt central banks to adjust their ultra-low interest rate policies. (AP Photo/Eugene Hoshiko)TOKYO โ Shares fell Wednesday in Asia as investors weighed the possibility that inflation might prompt central banks to adjust their ultra-low interest rate policies. Investors remain increasingly focused on a big tick up in bond yields and how it affects stock valuations. However, โDespite reassuring comments on lower rates from the U.S. Federal Reserve chair Jerome Powell, Asia markets continued to look to concerns with regards to the rising bond yields," Pan said. The bet mostly paid off, as big tech companies reported big profits last year.
Asian shares drop after US stocks' worst day since October
Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October. (AP Photo/Ahn Young-joon)Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October. Daily deaths had been mostly in single-digit figures until recently, but are now surpassing 100 people a day. On Wall Street, a sell-off in technology companies sent shares tumbling in a reversal from the market's recent moves to record highs. As a whole, analysts expect S&P 500 companies to say their fourth-quarter profit fell 5% from a year earlier.
US stocks open mostly higher ahead of a busy earnings week
Shares fell in Asia on Tuesday after a choppy session on Wall Street yielded mixed results as the market struggled to find direction. Stocks swerved to a mixed finish on Wall Street on Monday, ahead of a deluge of corporate earnings reports scheduled to arrive this week. The S&P 500 rose 0.4% to 3,855.36 as gains for influential Big Tech stocks offset losses for most companies. The Nasdaq composite, which is packed with tech stocks, rose 0.7% to 13,635.99 and another record. The Russell 2000 index of smaller stocks fell 0.3%, to 2,163.27.
Asian shares mixed as boost from US stimulus package fades
Asian shares were mixed Wednesday after a lackluster day on Wall Street, as the boost from President Donald Trumps signing of the coronavirus relief package faded. (AP Photo/Koji Sasahara)Asian shares were mixed Wednesday after a lackluster day on Wall Street, as the boost from President Donald Trumpโs signing of the coronavirus relief package faded. It is still on track to end the month 7.7% higher, more than twice as much as the S&P 500. The S&P 500 fell 8.32 points to 3,727.04. With two days of trading left in 2020, the S&P 500 is up 15.4% this year, while the Nasdaq is up 43.2%.
Asian shares decline following lackluster day on Wall Street
Asian shares sank on Tuesday after a lackluster day on Wall Street as investors wait to see if Congress can break a logjam on delivering more aid to people, businesses and local governments affected by the coronavirus pandemic. (AP Photo/Lee Jin-man)Asian shares sank on Tuesday after a lackluster day on Wall Street as investors wait to see if Congress can break a logjam on delivering more aid to people, businesses and local governments affected by the coronavirus pandemic. Hong Kong's Hang Seng lost 0.5% to 26,252.50 and the Nikkei 225 in Tokyo gave up 0.3% to 26,648.83. Smaller companies held up better than their larger rivals, as the Russell 2000 index gained 2.16 points, or 0.1%, to 1,913.86. โAgain, it feels like we are stuck in the negative feedback loop," Stephen Innes of Axi said in a commentary.
Asian stocks mixed after Wall St slips near record high
In this photo provided by the New York Stock Exchange, specialist James Denaro works at his post on the trading floor, Thursday Dec. 3, 2020. U.S. stocks are inching further into record heights Thursday, as Wall Street continues to coast following its rocket ride last month powered by hopes for coming COVID-19 vaccines. The company told The Wall Street Journal testing and setting up a supply chain took longer than expected. On Wall Street, the S&P 500 slipped to 3,666.72. Brent crude, used to price international oils, was 91 cents higher to $49.62 per barrel in London.
S&P 500 closes at record as possible vaccine lifts markets
TOKYO โ The S&P 500 closed at a record high on Friday as optimism built among investors that a coming vaccine for the coronavirus will help end the shutdowns that have devastated the economy. The S&P 500 added 48.14 points, or 1.4%, to 3,585.15, rising above the index's previous closing record of 3,580.84 set back in early September. The S&P 500 ended the week up 2.2%. Stocks in the S&P 500 energy sector rose more than 16% this week, while tech stocks were essentially flat. โI still think the dust is kind of settling from that vaccine news as investors think about how to be positioned,โ he said.
Asian shares slip on faltering hopes for COVID vaccines
Stocks fell back across Asia on Thursday after gains for big technology shares pushed most Wall Street benchmarks higher. Tokyo's Nikkei 225 index gained 0.4% to 25,459.13 despite a report that machinery orders fell in September, suggesting weakness in corporate investment. Hong Kong's Hang Seng index fell 0.1% to 26,206.78 and the Shanghai Composite index declined 0.3% to 3,332.24. Markets have been riding a wave of relief over hopes for a potential vaccine to beat back the pandemic. Strategists along Wall Street are raising their forecasts for stock prices on expectations that political control of Washington will remain split between the parties.
Marriott bounces back as activity in China surges
Marriott saw dramatic improvement in the third quarter as travel demand rebounded in China. Average occupancy at hotels in China hit 61% during the quarter, down just 10% from a year ago. Sorenson said leisure travelers who might usually go abroad are staying in China, boosting occupancy rates. Business and group demand is weaker, partly because international business travel โ which normally accounts for 25% of Marriott's business in China โ is down significantly. The trend toward remote work could accelerate a shift the industry was already seeing away from business travel, Sorenson said.
Asia tracks Wall St rally as markets shrug at election limbo
The benchmark index had gained 3.5% before the market lost some of its momentum toward the end of the day. The Nasdaq was the standout, notching its biggest gain in more than six months as traders doubled down on technology stocks. But after a tumultuous overnight session in global markets where Trump prematurely declared victory, markets acted as if the occupant of the White House might be secondary. It may take days for a winner of the White House to emerge, and professional investors say theyโre bracing for sharp market swings in the meantime. Stocks tend to rise regardless of which party controls the White House.
US futures, Asia markets rise as investors eye US election
BEIJING โ U.S. futures rose and Asia markets posted gains as investors worldwide await the results from the U.S. presidential election. Dow futures were up 0.6% and the S&P 500 futures rose 1.6% as of 10:25 p.m. Eastern time after falling earlier as election returns began coming in. The gain in the futures follow a strong performance in regular trading on Wall Street. What investors fear is the prospect of a contested election, one that drags on and injects even more uncertainty into markets. The moves in global markets follow a solid finish for stocks on Wall Street Tuesday.