A worker welds steel at a workshop on June 8, 2024 in Hangzhou, Zhejiang Province of China. Vcg | Visual China Group | Getty Images China’s retail sales beat expectations in May, climbing 3.7% compared with a year ago, beating expectations of a 3% rise from a Reuters poll of economists. However, other economic metrics, such as industrial output and fixed asset investment, missed Reuters forecasts. Industrial output grew by 5.6% year-on-year, compared to the 6% increase expected, while fixed asset investment rose 4% compared to last May, just shy of the 4.2% forecast by the Reuters poll. China’s exports...
Avoid concentration risk with this value play, ETF expert suggests
Investors worried about concentration risk in the market may want to consider value-oriented investments. Avantis Investors chief investment strategist Phil McInnis suggests taking a more diversified approach than simply looking at index funds such as the S&P 500. He thinks his firm’s exchange-traded fund strategy can provide better returns in the long run, emphasizing companies with low valuations and strong balance sheets. “We’re going to be less concentrated,” he told CNBC’s “ETF Edge” this week. “So we are kind of making a lot of smaller bets on these lower valuation, better profitability [companies] paying off through time.” Avantis’ U.S. Large...
Taylor Swift’s London Eras Tour could delay Bank of England rate cut
Taylor Swift performs on stage during during “Taylor Swift | The Eras Tour” at Anfield on June 13, 2024 in Liverpool, England. Gareth Cattermole/tas24 | Getty Images Entertainment | Getty Images LONDON — Taylor Swift’s record-shattering Eras Tour is continuing to supercharge consumer spending as it enters its U.K. leg, suggesting that the Bank of England may not be out of the woods yet in its fight against inflation. As hundreds of thousands of dedicated Swifties flock to London in August to see the singing sensation during her final U.K. dates, the economic boost could be enough to defer a...
BOJ rate decision, JGB purchases
The Bank of Japan (BOJ) headquarters is seen beyond the cherry blossoms in Tokyo on March 20, 2023. Kazuhiro Nogi | Afp | Getty Images Asia-Pacific markets were largely lower on Friday ahead of the Bank of Japan’s rate decision. Economists polled by Reuters expect the BOJ will maintain its benchmark interest rate at 0%-0.1%, but Nikkei reported the central bank is considering reducing its holdings of Japanese government bonds. The BOJ currently aims to purchase about 6 trillion yen ($38.5 billion) in bonds per month, and has informed the market of plans to purchase between 4.8 trillion yen and 7 trillion...
Asia stock markets live updates: Fed decision, EV tariffs
The sails of the Opera House are illuminated with projections on the opening night of Vivid Sydney 2023 in Sydney, Australia, on Friday, May 26, 2023. Anadolu Agency | Anadolu Agency | Getty Images Asia-Pacific markets rose on Thursday after the U.S. Federal Reserve held the federal funds rate at 5.25% to 5.5%, and shifted its “dot plot” to project only one rate cut this year. This was down from the three cuts projected in its March meeting. However, the dot plot also indicated a more aggressive cutting path for 2025 — four rate cuts totaling a full percentage point...
China inflation, India CPI, Fed decision
Citizens are shopping at a supermarket in Nanjing, East China’s Jiangsu province, on March 9, 2024. Costfoto | Nurphoto | Getty Images Asia-Pacific markets were mixed on Wednesday as investors assessed inflation data from around Asia. China’s May inflation rate came in at 0.3%, missing expectations of 0.4% by economists polled by Reuters. The figure was unchanged from April. Hong Kong Hang Seng index opened 0.76% lower after the CPI announcement, while the mainland Chinese CSI 300 was down marginally. Traders in Asia will also look toward the U.S. Federal Reserve’s decision on Wednesday stateside, which will come hours after...