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  • Aug 21, 2024

Wall St eyes higher open with payrolls revisions, Fed minutes on tap

(Reuters) -Wall Street's main indexes were set for a higher open on Wednesday, as investors awaited the release of the updated U.S. payrolls data and the minutes from the Federal Reserve's July policy meeting. The report from the Bureau of Labor Statistics, with preliminary revisions to the jobs data, is due at 10:00 a.m. ET. Most economists expect a downward revision, with Goldman Sachs estimating that 600,000 to 1 million fewer jobs were created between April 2023 and March 2024.

  • Aug 21, 2024

Oil prices steady after days of losses

LONDON (Reuters) -Oil prices steadied on Wednesday, with benchmark Brent holding above $77 a barrel, after steady sell-offs driven by expectations of reduced Chinese demand and diminishing concerns the conflict in the Middle East could spread and disrupt supply. Brent crude futures were up 14 at $77.34 a barrel by 1142 GMT. As expectations swirl economic weakness in China, the world's biggest crude importer, will subdue demand, stocks in the United States, the world's biggest producer and consumer of oil, are set to rise.

  • Aug 21, 2024

Investors look to Fed for next move after stocks recovery

LONDON (Reuters) -Global shares idled on Wednesday after a lengthy rebound propelled them towards recent lifetime highs, with investors waiting for clues on interest rate cuts from the Federal Reserve on Friday to decide on their next move. Oil was steady after a run of declines driven by stubborn fears over Chinese demand while dollar weakness on the prospect of rate cuts kept gold near Tuesday's record high. Stocks have been on a rollercoaster ride this month after investors took fright following U.S. jobs data that raised the spectre of recession in the world's biggest economy.

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