Markets get a breather as oil falls
Asian stocks climbed as Brent dropped below $90, easing inflation fears and giving bonds some relief.
What’s moving
- Stocks: Japan, Hong Kong and China rose, led by chipmakers
- Oil: Brent fell 2.6% to around $86.25
- Bitcoin: Around $79,000
- Gold: Slipped to about $4,645
- Copper: Hit another record high as supply stays tight
Corporate watch
- Nvidia: Earnings take centre stage as investors question how much AI spending can translate into returns
- OpenAI: Says its new Jalapeno chips outperformed Nvidia processors in testing
- SpaceX: Plans a $100 billion Starship launch site in Louisiana
- Apple: Unveiled upgraded Mac mini and Mac Studio
- Meta: Discussing a possible settlement in the teen social media case
What investors are watching
Nvidia earnings, US inflation data and Fed Chair Kevin Warsh’s Jackson Hole speech could decide where markets go next.