$IDA

Top Earnings Th 5/4 Pre: $ABUS $ACIW $AEP $AGIO $ALCO $ALNY $AMTX $AOMR $APG $APRN $APTV $ARGX $ARHS $ARNC $ARW $ATI $AUPH $BALL $BCE $BDX $BERY $BHC $BKI $BKTI $BLD $BPMC $BRKR $BSIG $BUD $BV $BVH $BWA $CAH $CARS $CCLD $CCLP $CCOI $CCRD $CEG $CG $CGNX $CIM $CLDT (1/5) Top Earnings Th 5/4 Pre: $CMRX $CNQ $COMM $COP $CRAI $CWEN $DCO $DDOG $DGII $DINO $DLX $DNB $DNOW $DOC $DSGR $DTC $DXYN $ECVT $ENOV $EQNR $ESMT $EVA $FOCS $FOUR $FTDR $FUN $GCI $GECC $GEL $GHI $GLT $GOLF $GPP $GPRE $GTES $H $HAYW $HEP $HII $IBP $ICE $IDA (2/5) Top Earnings Th 5/4 Pre: $IDCC $IMOS $IMXI $INFU $INSM $IRM $IRMD $IRWD $ITCI $ITRI $ITT $JLL $K $KPTI $KRTX $KTB $KYMR $LAMR $LANC $LAUR $LEE $LNTH $LQDA $LQDT $MAC $MCS $MDU $MFA $MGPI $MLM $MMP $MNTX $MODV $MPLN $MRNA $MSGS $MT $MTSI $MYE $NFE $NJR $NRG (3/5) Top Earnings Th 5/4 Pre: $NRP $NS $NTCT $NTLA $NVCR $NVO $NWN $NXE $OCN $OCSL $OGE $OGN $ONEW $OPCH $OWL $PACK $PARA $PARAA $PAX $PBH $PCG $PENN $PH $PLNT $PLTK $PLX $PLYM $PNW $PPL $PRMW $PRVA $PTLO $PTON $PWP $PWR $PZZA $RACE $RCL $RCM $REGN $RITM $SABR $SBH (4/5) Top Earnings Th 5/4 Pre: $SCU $SELB $SHAK $SHEL $SPH $SRE $SSRM $STVN $STWD $SUP $SWK $SXC $TCPC $TELNY $TFX $TGLS $THRY $TIXT $TRGP $TTSH $TU $UNIT $UPBD $VEON $VIA $VITL $VMC $VNT $W $WBX $WCC $WD $WLK $WLKP $WOW $WRK $WRLD $XFOR $XPO $XPRO $XTNT $XYL $ZTS (5/5)

Upgrades 5/3: $API $ARGX $FIBK $IDA $JAKK $JPM $KOF $LIN $MHK $MMC $MS $SHEN $SIVB $SNDL $TCBK $VRTX . Downgrades 5/3: $AI $CHGG $CHTR $CL $CNP $CVNA $DOCU $ED $EVER $GLMD $K $MTTR $NYCB $PAC $PLAN $SFT $TSN

UK Market Markets finished lower yesterday, led by losses in mining sector stocks. Renishaw declined 11.1%, after the company reported an increase in its full year profit. Lancashire Holdings dropped 7.3%, after the company issued a profit warning citing natural catastrophes including Hurricane Ida and European storms Bernd. Moonpig Group fell 3.2%, after the greeting card company announced that its shareholders placed 30 million shares. Barclays slid 0.8%, even though the lender reported that its profits almost doubled in the third quarter. On the other hand, RELX added 1.6%, after the company raised its annual outlook for underlying growth rates in revenue and adjusted operating profit. Unilever rose 1.2%, after the consumer goods giant reported better than expected sales growth in the third quarter. The FTSE 100 slipped 0.5%, to close at 7,190.3, while the FTSE 250 fell 0.2%, to end at 22,917.1 . . Europe Market Also finished lower yesterday, led by losses in the mining sector stocks. Rexel declined 9.4%, after the company reported lower than expected sales in the third quarter. Zur Rose Group dropped 7.7%, even though the online pharmacy reported an increase in its nine-month revenues. ABB fell 5.8%, after the engineering and tech group cut its sales outlook for the full year. Getlink shed 2.0%, after the railway company reported a drop in its third quarter revenue. On the flipside, Soitec climbed 8.0%, after the company lifted its full year forecast, after reporting increased activity levels and a strong operating performance. Software rose 2.2%, after the company reported an increase in its third quarter profits. The FTSEurofirst 300 index slipped 0.1%, to close at 1,819.1. Among other European markets, the German DAX Xetra 30 fell 0.3%, to close at 15,472.6, while the French CAC-40 dropped 0.3%, to settle at 6,686.2. . US Market Closed mostly higher yesterday, amid strong corporate earnings results. Crocs jumped 9.3%, after the shoemaker’s third quarter revenue and earnings surpassed analysts’ forecast. Tenet Healthcare climbed 7.3%, after the company reported strong results in the third quarter and lifted its annual earnings outlook. Denny's advanced 5.5%, following a rating upgrade on the stock to ‘Buy’ from ‘Hold’. Tesla added 3.3%, after the electric vehicle maker reported better than expected revenue and earnings in the third quarter. Blackstone rose 3.0%, after the company reported upbeat results in the third quarter. On the other hand, Krispy Kreme fell 5.7%, after a top broker downgraded its rating on the stock to ‘Hold’ from ‘Buy’. Quest Diagnostics shed 1.0%, even though the company reported better than expected third quarter earnings. The S&P 500 gained 0.3%, to settle at 4,549.8. The DJIA marginally fell to settle at 35,603.1, while the NASDAQ advanced 0.6%, to close at 15,215.7. . Asia Market Trading higher this morning. In Japan, Advantest and Sumco have advanced 2.0% and 2.8%, respectively. Meanwhile, Dowa Holdings and Z Holdings have dropped 2.0% and 4.8%, respectively. In Hong Kong, Li Ning and BYD have risen 4.4% and 5.0%, respectively. Meanwhile, AIA Group and PetroChina have fallen 0.9% and 3.7%, respectively. In South Korea, Dongsuh and Central Insight have climbed 7.4% and 18.3%, respectively. Meanwhile, Maniker and Century have declined 5.5% and 14.0%, respectively. The Nikkei 225 index is trading 0.6% higher at 28,892.1. The Hang Seng index is trading 0.5% up at 26,138.1, while the Kospi index is trading 0.4% higher at 3,018.1.

Tuesday, October 12, 2021 U.S. equity futures are looking mixed to slightly higher despite the cautious tone heading into the start of the third quarter earnings season with a focus on surging energy prices, faster inflation and their combined effect on growth prospects in the world’s biggest economies. Stock markets slumped in the final hour of the trading day Monday, with major averages finishing at the session lows as the Dow fell 0.72%, the S&P 500 was down 0.69%, and the Nasdaq moved down 0.64%. Overnight, Asian markets fell amid news that indebted China property giant Evergrande had missed a third coupon payment in as many weeks, reigniting concerns that its collapse could trigger contagion in regional bond markets. Bond markets reopen after being closed for the Columbus Day holiday, with the 10-year yield holding around the 1.6% level. Oil prices are trading near seven-year highs amid a global power crunch. In Asian markets, The Nikkei Index dropped -267 points to 28.230, the Shanghai Index fell -45 points to 3,546, and the Hang Seng Index declined -362 points (1.43%) to 24,962. China Evergrande Group once again misses payment on the firm’s 9.5% note due 2022 and its 10% bond due 2023. Also adding to concerns, Shanghai-based developer Sinic Holdings Group said that it doesn’t expect to pay the principal or interest due Oct 18 for a $250 mln bond not helping Asian sentiment. In Europe, the German DAX is lower by about -40 points to 15,155, while the FTSE 100 slips -30 points to 7,115. Market Closing Prices Yesterday · The S&P 500 Index dropped -30.15 points, or 0.69%, to 4,361.19 · The Dow Jones Industrial Average fell -250.19 points, or 0.72%, to 34,496.06 · The Nasdaq Composite slumped -93.34 points, or 0.64%, to 14,486.20 · The Russell 2000 Index declined -12.45 points, or 0.56% to 2,220.64 Events Calendar for Today · 6:00 AM ET NFIB Small Business Optimism · 7:45 AM ET ICSC Weekly Retail Sales · 8:55 AM ET Johnson/Redbook Weekly Sales · 10:00 AM ET JOLTs Job Openings for Aug · 4:30 PM ET API Weekly Inventory Data Earnings Calendar: · Earnings Before the Open: None · Earnings After the Close: VOXX Other Key Events: · American Society of Retina Specialists Annual Scientific Meeting, in San Antonio, TX 10/8-10/12 World News · German ZEW said economic sentiment missed: 22.3 vs 24.0 consensus; current conditions missed: 21.6 vs 28.5 consensus; the economic situation has worsened, economic o/l for next 6 months has got considerably worse · The NFIB Small Business Optimism Index: 99.1 vs. 99.5 consensus, 100.1 in August. · China’s widening power crisis, which has forced rationing across the country and threatens to derail economic growth, is prompting policy makers to rethink the pace of the nation’s energy transition – Bloomberg Sector News Breakdown Consumer · Tesla (TSLA) sold 56,006 China-made vehicles in September, up 26.5% M/M from August’s sales of 44,264 units, and the highest since it started production in Shanghai about two years ago, Reuters reports. · Automobile sales in China declined 19.6% Y/Y in September to 2.07M vehicles, falling for a fifth consecutive month; sales of passenger cars in September fell 17% Y/Y to 1.58M vehicles, the China Passenger Car Association said · MGM Resorts ($MGM) upgraded to Outperform from Neutral at Credit Suisse and up tgt to $68 from $33 · Trex Company ($TREX) downgraded to Neutral from Outperform at Baird and cut tgt to $108 from $116 saying decking channel checks suggest sell-through demand will be slower in Q3 and Q4 · Vroom ($VRM) has agreed to acquire California based United Auto Credit Corporation for $300M in cash Energy, Industrials and Materials · Matson ($MATX) guides Q3 diluted EPS $6.39-$6.58 above est. $4.39 saying they continued to see strong demand with higher year-over-year volumes compared to the largely pandemic-reduced volumes in the third quarter of last year; expects Q3 operating income for Ocean Transportation of $358M-$363M and Logistics operating income of $15M-$16M · TechnipFMC ($FTI) awarded a substantial long-term charter and services contract by Petrobras (PBR) for the pipelay support vessel Coral do Atlântico; said contract is between $250M-$500M · AO Smith ($AOS) raises quarterly dividend to $0.28 from $0.26 · AZZ Inc. ($AZZ) Q2 adj EPS $0.76 vs. est. $0.62; Q2 revs $216.45M vs. est. $219.95M; raises FY22 EPS view to $2.90-$3.20 from $2.65-$3.05 (est. $3.03); revises FY22 revenue view to $865M-$925M from $855M-$935M (est. $924.2M) · Hecla Mining ($HL) announced preliminary production results for the third quarter. Highlights include: Silver production of 2.7M ounces, decreased due to lower grades at Greens Creek based on mine sequencing, partially offset by Lucky Friday production. Gold production of 42,206 ounces, in line with the same period in the prior year Financials · China Evergrande Group once again misses payment on the firm’s 9.5% note due 2022 and its 10% bond due 2023. Also adding to concerns, Shanghai-based developer Sinic Holdings Group said that it doesn’t expect to pay the principal or interest due Oct 18 for a $250 mln bond. · Square ($SQ) upgraded to Overweight from Neutral with a $300 price target at Atlantic Equities · Arch Capital Group Ltd. ($ACGL) said Q3 results will be negatively impacted by the effects of Hurricane Ida and the July flooding events in Central Europe, as well as from other minor global events; sees pre-tax catastrophe losses of $330M-$345M in Q3 across its property casualty insurance and reinsurance segments, net of reinsurance recoveries and reinstatement premiums; board boosts share buyback program to $1.5b total · Artisan Partners Asset Management Inc. ($APAM) prelim assets under management as of September 30, 2021 totaled $173.6 billion. Artisan Funds and Artisan Global Funds accounted for $85.4 billion of total firm AUM, while separate accounts and other AUM accounted for $88.2B · Cohen & Steers, Inc. ($CNS) preliminary assets under management of $97.3 billion as of September 30, 2021, a decrease of $3.2 billion from assets under management at August 31, 2021. The decrease was due to market depreciation of $3.9 billion and distributions of $306 million, partially offset by net inflows of $1.1 billion. · Franklin Resources, Inc. ($BEN) preliminary month-end assets under management of $1,530.1 billion at September 30, 2021, compared to $1,572.1 billion at August 31, 2021. This month’s decrease in AUM primarily reflected market depreciation and slight long-term net outflows, excluding a $2 billion fixed income institutional redemption that had minimal impact on revenue. · Invesco Ltd. ($IVZ) preliminary month-end assets under management of $1,528.6B, a decrease of 2.2% versus previous month-end. Total net inflows were $4.2B. The firm achieved net long-term inflows of $3.2 billion this month. Money market net inflows were $1.0 billion. AUM was negatively impacted by unfavorable market returns, which decreased AUM by $36 billion. · Virtus Investment Partners, Inc. ($VRTS) preliminary assets under management (AUM) as of September 30, 2021 of $177.3 billion. The decrease in AUM from June 30, 2021 reflected market performance and open-end fund net outflows, partially offset by positive net flows in retail separate accounts, exchange traded funds, and institutional. Healthcare · GlaxoSmithKline’s ($GSK) consumer healthcare unit is drawing buyout interest from private equity firms such as Advent, CVC and KKR, ahead of the drugmaker’s planned separation from the unit next year, Bloomberg News reported, citing sources Technology, Media & Telecom · GitLab Inc. ($GTLB) has raised the expected pricing range of its IPO to between $66-$69 a share from between $55-$60 a share last week. The all-remote software company is still offering 8.42 million shares in the IPO, with the new pricing expectation boosting what the company will raise to $580.98 million · Relay Therapeutics ($RLAY) announces $350M common stock offering · Quanterix ($QTRX) announces that its Simoa phospho-Tau 181 (pTau-181) blood test has been granted Breakthrough Device designation by the U.S. FDA as an aid in diagnostic evaluation of Alzheimer’s Disease (AD). · SeaSpine Holdings Corporation ($SPNE) announced the full commercial launch of its NorthStar OCT Posterior Cervical Fixation System

UK Markets Closed higher yesterday, buoyed by gains in banking and energy sector stocks. Greggs climbed 11.1%, after the baker and fast-food chain raised its full year profit forecast. Rolls-Royce Holdings rose 1.3%, after the engine maker appointed former Airbus executive Grazia Vittadini as Chief Technology Officer with effect from 02 November. Great Portland Estates edged up 0.6%, after the commercial landlord reported better than expected results in the third quarter. On the other hand, Melrose Industries fell 1.1%, after the company announced that global shortage of semiconductors resulted in a rise in monthly cancellations from its customers in the auto industry. Moneysupermarket.com Group shed 0.4%, after a top broker lowered its target price on the stock to 250.0p from 290.0p. The FTSE 100 gained 0.9%, to close at 7,077.1, while the FTSE 250 rose 0.3%, to end at 22,730.7. . European Markets Also closed higher yesterday, helped by gains in banking and technology sector stocks. Infineon Technologies advanced 4.8%, after the company forecasted its revenue to rise further next year and confirmed its 2021 revenue outlook. Swiss Re edged up 0.2%. The company announced its estimated preliminary claims burden from Hurricane Ida of around $750 million. On the flipside, GN Store Nord dropped 7.0%, after the company lowered its annual revenue growth estimates for its hearing aid unit to around 16% from 25%. Bayer fell 1.0%, after the company revealed that it would expand its production capabilities in Turku, Finland. The FTSEurofirst 300 index gained 1.2%, to close at 1,764.7. Among other European markets, the German DAX Xetra 30 rose 1.1%, to close at 15,194.5, while the French CAC-40 advanced 1.5%, to settle at 6,576.3. . US Markets Followed higher yesterday, supported by gains in technology sector stocks Southwest Gas Holdings climbed 6.6%, following news that activist investor Carl Icahn asked the company to cancel a potential acquisition of Dominion Energy’s Questar Pipeline. Ocugen rose 2.7%, after the company announced a joint development and supply agreements involving its Covid-19 vaccine candidate and its treatment for dry age-related macular degeneration. PepsiCo edged up 0.6%, after the food and beverage company reported stronger than expected revenue and earnings in the third quarter. On the other hand, Duckhorn Portfolio dropped 8.6%, even though the company reported better than expected results in the fourth quarter. The S&P 500 gained 1.1%, to settle at 4,345.7. The DJIA rose 0.9% to settle at 34,314.7, while the NASDAQ advanced 1.3%, to close at 14,433.8. . Asian Markets We’re trading lower this morning. In Japan, Isetan Mitsukoshi Holdings and Kikkoman have dropped 3.8% and 4.1%, respectively. Meanwhile, Inpex and Pacific Metals have advanced 2.2.% and 4.7%, respectively. In Hong Kong, Xinyi Solar Holdings and Xinyi Glass Holdings have fallen 3.6% and 4.9%, respectively. Meanwhile, Techtronic Industries and New World Development have risen 0.6% and 1.1%, respectively. In South Korea, Koas and TYM have declined 8.5% and 11.2%, respectively. Meanwhile, INZI Controls and THN have climbed 11.8% and 25.3%, respectively. The Nikkei 225 index is trading 1.0% lower at 27,544.1. The Hang Seng index is trading 1.0% down at 23,872.0, while the Kospi index is trading 0.9% lower at 2,935.1.

Upgrades 10/4: $ALNY $BTU $DD $JBT $LUV $ROP $SJI $UNP . Downgrades 10/4: $AKAM $EQC $GWRE $IDA $IIVI $MMM $OMER $TSCO $VERX $WISH $XLRN

By Peter Nurse Investing.com - European stock markets are expected to open higher Thursday, continuing to stabilize after the sharp losses earlier this week, but doubts about China’s economic expansion remain. At 2:05 AM ET (0605 GMT), the DAX futures contract in Germany traded 0.7% higher, CAC 40 futures in France climbed 0.7% and the FTSE 100 futures contract in the U.K. rose 0.5%. European investors are set to trade with a positive tone Thursday, still recovering from Tuesday’s rout, prompted by higher U.S. bond yields, which saw the DAX and CAC 40 drop over 2% in Europe and the Nasdaq Composite slump 2.8%, its largest selloff since March, on Wall Street. Companies are beginning to position for a post-Covid future with global mergers and acquisitions hitting new record highs in the third quarter. Refinitiv data showed M&A deals totalled $1.52 trillion in the three months to Sept. 27, up 38% from the same quarter last year and more than any other quarter on record. Helping the tone were the latest U.K. quarterly GDP figures, which showed that the U.K. economy grew 5.5% in the second quarter, more than expected and a sharp improvement from the 1.6% fall the previous quarter. However, these gains in Europe are tentative as doubts remain about the strength of China’s economic recovery, the second largest economy in the world, and the main regional driver. The country’s factory activity contracted in September for the first time since Covid-19 began in 2020, with its manufacturing purchasing managers index falling to 49.6 in September, from 50.1 in August. Also of concern was a report from Reuters that some of China Evergrande Group's offshore bondholders have not received interest payments due by the end of Wednesday New York time, meaning that the highly indebted property giant has missed its second debt obligation this month. The European economic data slate is pretty full Thursday, with French consumer spending, German unemployment numbers and preliminary consumer price inflation numbers from France, Germany and Italy also due. Crude prices edged lower after official figures showed an unexpected rise in U.S. inventories as production in the Gulf of Mexico largely returned to the levels before Hurricane Ida hit around a month ago U.S. crude inventories were up by 4.6 million barrels last week, data from the Energy Information Administration showed, compared with expectations for a 1.7 million-barrel drop. By 2:05 AM ET, U.S. crude futures traded 0.1% lower at $74.75 a barrel, while the Brent contract fell 0.3% to $77.89. Additionally, gold futures rose 0.4% to $1,729.85/oz, while EUR/USD edged higher to 1.1599.

By Peter Nurse Investing.com - European stock markets are expected to open lower Monday, weighed by sharp losses in Asia amid concerns about the health of property giant China Evergrande Group (HK:3333) and ahead of the week’s crucial Federal Reserve meeting. At 2 AM ET (0600 GMT), the DAX futures contract in Germany traded 0.9% lower, CAC 40 futures in France dropped 2.1% and the FTSE 100 futures contract in the U.K. fell 0.8%. European equities have received a negative handover from Asia, despite China, Japan and South Korea being on holiday, with Hong Kong’s Hang Seng index dropping more than 3%, dragged down by the continued dumping of shares in Chinese property company Evergrande. Investors seem to be taking a dim view of its business prospects, with a bond interest payment due on Thursday and concerns growing that a default on its $300 billion of liabilities could crystallize broader risks in China's financial system. The week also sees a number of central banks hold policy-setting meetings, including the Bank of England, the Bank of Japan and the Swiss National Bank. But the focus will be on the Federal Reserve, with the U.S. central bank potentially taking another step toward tapering at its two-day meeting, starting on Tuesday. Investors will be looking to see if the Fed judges the U.S. economy to be sufficiently strong for it to start reducing the massive amount of monetary support it has provided during the pandemic, though the consensus is for an actual announcement to be delayed until the November or December meetings. Back in Europe, Lufthansa (DE:LHAG) will be in the spotlight after the German airline said on Sunday it would launch a capital increase that was expected to raise 2.14 billion euros ($2.51 billion) to pay back part of a state bailout it received during the coronavirus crisis. Crude prices fell as supply increased in the U.S., the largest consumer in the world. The country’s oil and gas rig count rose by nine to 512 in the week to Sept. 17, its highest since April 2020 and double the level from this time last year, Baker Hughes said on Friday. Additionally, only 23% of U.S. Gulf of Mexico crude output remained offline as of Friday, an improvement from the 28% seen on Thursday, more than two weeks after Hurricane Ida hit. The dollar also climbed to a three-week high ahead of the Fed meeting, making commodities priced in the currency more expensive. By 2 AM ET, U.S. crude futures traded 0.6% lower at $71.36 a barrel, while the Brent contract fell 0.5% to $74.98. Additionally, gold futures fell 0.1% to $1,750.35/oz, while EUR/USD traded 0.1% lower at 1.1717.

By Peter Nurse Investing.com -- Oil prices edged lower Friday, but are heading for a fourth consecutive weekly gain as supply in the important U.S. Gulf of Mexico region is only slowly returning to normal after Hurricane Ida. By 9:25 AM ET (1325), U.S. crude futures were down 1.1% at $71.75 a barrel, while Brent futures were down 0.8% at $75.07 a barrel, pulling back from seven-week highs. Both benchmarks are heading for weekly gains of well over 3%, the fourth consecutive positive week, the best run since early July. U.S. Gasoline RBOB Futures were down 0.8% at $2.1645 a gallon. Oil has surged of late as global consumption continues to recover from the pandemic, while a couple of hurricanes, Ida in particular, have affected production in the crucial U.S. Gulf of Mexico region, offsetting the production of additional barrels from the Organization of the Petroleum Exporting Countries and its allies. As of Thursday, about 28% of Gulf crude production - over 510,000 barrels a day - still remained offline, more than two weeks after Hurricane Ida hit. The effect of this extreme weather was illustrated by Wednesday’s Energy Information Administration data, which showed U.S. crude inventories dropped by more than 6 million barrels last week to a two-year low. “This situation shows that we have a very tight supply versus demand situation because the supplies are not coming back online fast enough. We’re probably going to see a continued price squeeze,” said Phil Flynn, an analyst at Price Group, in a note. Turning away from supply, both the International Energy Agency and OPEC this week raised their forecasts for oil demand in 2022, seeing increasing vaccination around the globe decreasing the impact of the Covid-19 virus. The CFTC’s speculative net positioning data and Baker Hughes’ oil rig count round off the week later.

By Lucia Mutikani WASHINGTON (Reuters) - U.S. retail sales unexpectedly increased in August as a surge in online and furniture store purchases offset a continued decline at auto dealerships, which could temper expectations for a sharp slowdown in economic growth in the third quarter. The surprise rebound in retail sales reported by the Commerce Department on Thursday came as economists have been downgrading their gross domestic product estimates for the current quarter, citing plunging motor vehicle sales, which are the result of an acute inventory shortage. Sales last month were likely boosted by back-to-school shopping and child tax credit payments from the government. "Consumer spending will continue to lead the economic recovery going forward," said Gus Faucher, chief economist at PNC Financial (NYSE:PNC) in Pittsburgh, Pennsylvania. Retail sales rose 0.7% last month. Data for July was revised down to show retail sales declining 1.8% instead of 1.1% as previously reported. Economists polled by Reuters had forecast retail sales would drop 0.8%. Sales increased 15.1% from a year ago and are well above their pre-pandemic level. They are holding up even as spending is shifting back from goods to services like travel and entertainment, though soaring COVID-19 infections are likely delaying the services spending boom. Retail sales are mostly goods, with services such as healthcare, education, travel and hotel accommodation making up the remaining portion of consumer spending. Online retail sales rebounded 5.3% after tumbling 4.6% in July. Most school districts started their 2021-2022 academic year in August, with in-person learning resuming after last year's shift to online classes because of the pandemic. Qualifying households in mid-July started receiving money under the expanded child tax credit program, which will run through December. Sales at clothing stores edged up 0.1% last month. Sales at building material stores rose 0.9% and receipts at furniture stores increased 3.7%. But sales at auto dealerships tumbled 3.6% after declining 4.6% in July. An ongoing global shortage of microchips, which is forcing automakers to cut production, is leading to a scarcity of inventory at showrooms. The semiconductor crunch, which has been worsened by the latest wave of infections driven by the Delta variant of the coronavirus, primarily in Southeast Asia, is also causing shortages of some electronic goods. Congestion at ports in China is also adding to the supply bottlenecks. But receipts at sporting goods, hobby, musical instrument and book stores dropped 2.7%. Sales at electronics and appliance stores fell 3.1%, likely because of shortages. Sales at restaurants and bars were unchanged likely as soaring coronavirus cases kept people at home. Restaurants and bars are the only services category in the retail sales report. Excluding automobiles, gasoline, building materials and food services, retail sales rebounded 2.5% last month after a downwardly revised 1.9% decline in July. These so-called core retail sales correspond most closely to the consumer spending component of GDP. They were previously estimated to have dropped 1.0% in July. U.S. stocks were trading slightly lower. The dollar rose against a basket of currencies. U.S. Treasury prices fell. GROWTH ESTIMATES CUT Tanking motor vehicle sales and struggles by businesses to replenish stocks have prompted economists to slash their GDP growth estimates for the third quarter. On Wednesday, economists at JPMorgan (NYSE:JPM) again trimmed their third-quarter GDP growth forecast to a 5.0% annualized rate from a 7.0% pace. Goldman Sachs (NYSE:GS) early this month cut its estimate to a 3.5% rate from a 5.25% pace. The slowing momentum was corroborated by the Federal Reserve's "Beige Book" report last week showing "economic growth downshifted slightly to a moderate pace in early July through August." The economy grew at a 6.6% rate in the second quarter. "We are expecting domestic demand to step up next quarter," said Michael Feroli, chief U.S. economist at JPMorgan in New York. "This assumes the Delta headwind fades and that the issues afflicting the motor vehicle sector gradually abate." Americans are sitting on at least $2 trillion in excess savings accumulated during the pandemic. Wages are rising as companies scramble to fill a record 10.9 million job openings. A separate report from the Labor Department on Thursday showed initial claims for state unemployment benefits increased 20,000 to a seasonally adjusted 332,000 for the week ended Sept. 11. Economists had forecast 330,000 applications for the latest week. Claims were likely boosted by Hurricane Ida, which devastated U.S. offshore energy production and knocked out power in Louisiana. Ida, one of the most powerful hurricanes ever to strike the U.S. Gulf Coast, also drenched Mississippi and caused historic flooding in New York and New Jersey. Claims have dropped from a record 6.149 million in early April 2020. A 200,000-250,000 range is viewed as consistent with healthy labor market conditions.

By Noah Browning LONDON (Reuters) -Oil prices rose over $2 on Wednesday after industry data showed a larger-than-expected drawdown in U.S. crude inventories and on expectations demand will rise as vaccination roll-outs widen. Brent oil rose $2.25, or 3.1%, to $75.85 a barrel by 1355 GMT, while U.S. West Texas Intermediate (WTI) crude climbed $2.31, or 3.3%, to $72.77 a barrel. Brent hit its highest levels since late July and WTI since early August. U.S. crude oil, gasoline and distillate stocks fell last week, two market sources said, citing American Petroleum Institute figures, after Hurricane Ida shut numerous refineries and offshore drilling production. [API/S] Crude stocks fell by 5.4 million barrels for the week ending Sept. 10, compared to a forecast 3.5 million barrel drop. The U.S. Energy Information Administration's oil inventory report is due at 10:30 a.m. EDT (1430 GMT) on Wednesday. "The impact of Hurricane Ida was a lot greater than many anticipated and production in the Gulf of Mexico region might struggle to return until Tropical Storm Nicholas is done punishing the region with torrential rain," said Edward Moya, senior analyst at OANDA. Tropical Storm Nicholas moved slowly through the Gulf Coast on Tuesday, leaving hundreds of thousands of homes and businesses without power, although Texas refineries ran normally. Damage from the storm comes two weeks after Hurricane Ida knocked a significant amount of Gulf Coast refining capacity offline. "This year’s hurricane season has a much greater and longer-lasting impact on the global oil balance than in previous years," said Tamas Varga, oil analyst at London brokerage PVM Oil Associates. Oil prices also found support from the International Energy Agency (IEA), which said on Tuesday vaccine roll-outs would power a rebound, after a three-month slide in global oil demand due to the spread of the Delta coronavirus variant and renewed pandemic restrictions. But oil price gains were capped by a fall in China's crude throughput in August with daily refinery runs hitting the lowest since May 2020 and overall factory output faltering.

(Bloomberg) -- Prices paid by U.S. consumers rose in August by less than forecast, suggesting that some of the upward pressure on inflation is beginning to wane. The consumer price index increased 0.3% from July, according to Labor Department data released Tuesday. Compared with a year ago, the CPI rose 5.3%. Excluding the volatile food and energy components, so-called core inflation climbed 0.1% from the prior month and 4% from August 2020. Follow the reaction in real-time here on Bloomberg’s TOPLive blog Economists in a Bloomberg survey called for a 0.4% increase in the overall CPI from the prior month and a 5.3% gain from a year earlier, based on the median estimates. Faced with mounting cost pressures as a result of materials shortages, transportation bottlenecks and hiring difficulties, businesses have been boosting prices for consumer goods and services. While price spikes associated with the economy’s reopening are beginning to abate, tenuous supply chains could linger well into 2022 and keep inflation elevated. A Federal Reserve Bank of New York survey showed Monday that consumers expect inflation at 4% over the next three years, the highest in data back to mid-2013. The CPI data precede next week’s Federal Open Market Committee meeting, where Fed officials will debate how and when to begin tapering asset purchases. Fed Chair Jerome Powell said last month that the central bank could begin reducing its monthly bond purchases this year, but didn’t give a specific time line. Parts shortages that have driven up input costs are restraining production. In the last week, Toyota Motor (NYSE:TM) Corp. and 3M Co. both downgraded their outlooks for car output due to semiconductor shortages, while Nestle said it is introducing even bigger price hikes as commodity and transportation costs surge. Meantime, Hurricane Ida halted operations at refineries and petrochemical plants in the south, adding to pandemic-related supply chain bottlenecks and likely price pressures as well. ©2021 Bloomberg L.P.

By Yuka Obayashi TOKYO (Reuters) -Oil prices hit a six-week high on Tuesday on concerns that another storm could affect output in Texas this week even as the U.S. industry struggles to return to normal production levels after Hurricane Ida wreaked havoc on the Gulf Coast. Oil prices rallied for a third straight day, with Brent crude hitting the highest since Aug. 2 earlier in the session. Brent crude was up 40 cents, or 0.5%, at $73.91 a barrel at 0444 GTM, having risen as high as $74.08 earlier. U.S. West Texas Intermediate (WTI) crude also climbed 45 cents, or 0.6%, to $70.90 a barrel, having risen as far as $71.05 earlier -- its highest since Aug. 3. Brent gained 0.8% while WTI rose 1.1% on Monday. Evacuations were underway on Monday from offshore U.S. Gulf of Mexico oil platforms as onshore oil refiners began preparing for Tropical Storm Nicholas, which was heading towards the Texas coast with 70 miles per hour(113 kph) winds, threatening coastal Texas and Louisiana still recovering from Hurricane Ida. "Investors were worried that Nicholas would cause further disruption in the Gulf Coast at a time when they were trying to figure out how long crude output would stay affected from Ida," said Satoru Yoshida, a commodity analyst at Rakuten Securities. More than 40% of the U.S. Gulf's oil and gas output remained offline on Monday, two weeks after Ida slammed into the Louisiana coast, according to offshore regulator Bureau of Safety and Environmental Enforcement (BSEE). The price gains also come amid worries over oil disruption in Libya. National Oil Corp (NOC) said loading operations at the Libyan oil terminals of Es Sider and Ras Lanuf resumed on Friday after a one-day stoppage, but an engineer at a Hariga port said that port was still closed by protesters. But Hiroyuki Kikukawa, general manager of research at Nissan (OTC:NSANY) Securities, expected the oil price rally to be short-lived. "Market upside may be limited as U.S. summer driving season waned while there are potential supply increases from planned releases of oil from strategic reserves in the United States and China as well as the possible resumption of oil export by Iran," he said. The U.S. government agreed to sell crude oil from the nation's emergency reserve to eight companies including Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX), under a scheduled auction to raise money for the federal budget. Traders noted China's planned release of oil from strategic petroleum reserves (SPRs) could boost supplies available in the world's the second biggest oil consumer. Hopes of fresh talks on a wider nuclear deal between Iranand the West were raised after the United Nations atomicwatchdog reached an agreement with Tehran on Sunday about theoverdue servicing of monitoring equipment. Adding to price pressures, U.S. oil output from seven major shale formations is expected to rise by about 66,000 bpd in October to 8.1 million bpd, the highest since April 2020, according to the Energy Information Administration's monthly drilling productivity report. The Organization of the Petroleum Exporting Countries (OPEC), meanwhile, trimmed its world oil demand forecast for the last quarter of 2021 due to the Delta coronavirus variant while raising the forecast for 2022 to 4.15 million bpd, compared to 3.28 million bpd in last month's report.

By Wayne Cole SYDNEY (Reuters) - Asian shares made a poor start on Monday to a week packed with major U.S. and Chinese economic data and the launch of Apple (NASDAQ:AAPL)'s latest iPhones, while the Nikkei faltered tantalisingly close to heights last visited in 1990. Hopes for fresh stimulus from a new prime minister in Japan saw the Nikkei surge 4.3% last week, and Topix made those 30-year highs on Friday, but vertigo appeared to set on Monday as the Nikkei slipped. Reports that U.S. Democrats were considering proposals to raise taxes on corporations and the wealthy, while not exactly new, could make for a cautious mood. Adding to concerns about China's regulatory crackdown was an FT report that Beijing is aiming to break up Alipay, the hugely popular payments app owned by Jack Ma's Ant Group. China releases a swath of data on retail sales, industrial output and urban investment on Wednesday that analysts fear will show a further slowdown in the world's second-biggest economy. MSCI's broadest index of Asia-Pacific shares outside Japan lost 1.2%, to more than reverse a rally last Friday. Chinese blue chips were off 0.5% and most markets in the region were modestly in the red. Both Nasdaq futures and S&P 500 futures were little changed, after running into profit taking last week. Wall Street suffered its worst run since February as doubts about the resilience of the global economic recovery hurt former reopening darlings in energy, hotels and travel. Apple will be a focus after sliding on Friday following an unfavourable court ruling related to its app store, just days before it unveils the new iPhone line up. Also highlighting are readings on U.S. consumer prices on Tuesday, which is expected to see core inflation ease a touch to 4.2%, while retail sales on Thursday could show another decline as the spread of the Delta variant spooks shoppers. The importance of the CPI was underlined by Philadelphia Fed President Patrick Harker who told the Nikkei he wanted to start tapering this year just in case the spike in inflation proved more than transitory. Harker favoured scaling the tapering down over an 8 to 12 month period, which is longer than some hawks have touted. "Global markets are fixated on the timing of tapering of QE by central banks, particularly the Fed," said analysts at ANZ in a note. "That's unsurprising, given the support that the extra liquidity has provided to equities and assets more generally," they added. "The latest guidance from senior FOMC officials is that tapering is still very much on the agenda this year, but is unlikely to be announced until November." The tension is only set to mount ahead of the Fed's next meeting on Sept. 21-22, and played a part in nudging U.S. 10-year yields up toward a major chart bulwark around 1.38% last week. Yields were last at 1.33% as stocks eased. The general air of risk aversion helped lift the dollar index to 92.767 and off the recent low of 91.941. The euro has faded back to $1.1788, from the September top of $1.1908 and under support at $1.1800. The dollar remains sidelined on the yen at 109.99, having spent an entire month trapped in a tiny range of 109.40-100.46. Gold has also had trouble breaking higher and was last flat at $1,791 an ounce, after shedding 2.1% last week when it repeatedly failed to clear resistance above $1,1830. Oil prices firmed on Monday supported by growing signs of supply tightness in the United States as a result of Hurricane Ida. About three-quarters of the U.S. Gulf's offshore oil production has remained halted since late August. [O/R] Brent added 34 cents to $73.26 a barrel, while U.S. crude rose 31 cents to $70.03.

By Alex Lawler LONDON (Reuters) -Oil rose to around $73 a barrel on Friday, supported by growing signs of supply tightness in the United States as a result of Hurricane Ida and as U.S.-China trade hopes gave riskier assets a boost. About three quarters of the U.S. Gulf's offshore oil production, or about 1.4 million barrels per day, has remained halted since late August. That amount is roughly equal to what OPEC member Nigeria produces. "With the restart in offshore crude production lagging, the odds are that the Ida effect will still be felt in the coming weeks," said Stephen Brennock of oil broker PVM. Brent crude rose $1.57, or 2.2%, to $73.02 by 1330 GMT. U.S. West Texas Intermediate (WTI) crude added $1.58, or 2.3%, to $69.72. Oil and equity markets also got a boost from news of a call between U.S. President Joe Biden and his Chinese counterpart Xi Jinping. The call raised hopes for warmer relations and more global trade, analysts said. [MKTS/GLOB] "The Biden-Xi phone call has had the same effect on oil markets as it has on other asset classes," said Jeffrey Halley, analyst at brokerage OANDA. Brent was on track to end the week with a small gain and has rallied 41% this year, driven by supply cuts by the Organization of the Petroleum Exporting Countries and some demand recovery from the pandemic. On Thursday, both crude contracts had fallen more than 1% after China said it would release crude oil reserves https://www.reuters.com/business/energy/china-release-state-crude-oil-reserves-first-time-2021-09-09 via public auction to help ease high feedstock costs for refiners, a move described as a first. In focus next week will be revisions to the oil demand outlook for 2022 from OPEC and the International Energy Agency. OPEC will likely revise down its forecast on Monday, two OPEC+ sources said.

By Marc Jones LONDON (Reuters) - Euro zone bonds were on course for their best day in months on Thursday as the European Central Bank took its first tentative step in withdrawing COVID-era stimulus, though stocks were kept back after Beijing took another swipe at its tech giants. Europe's STOXX 600 was still in the red after the ECB announced it was slowing its 80 billion euro-a-month PEPP programme. But it was off earlier lows as there seemed some comfort that, with inflation in the euro zone now at a 10-year high, it hadn't gone further. (EU) After ECB Chief Christine Lagarde's news conference had fleshed out the decision, equities edged away from earlier lows, the euro consolidated a modest 0.2% rise against the dollar, while bond markets cheered by sending French 10-yields negative again. [GVD/EUR] "I think it has been largely priced by the market," said AXA Group Chief Economist Gilles Moec. He had been waiting to see if Lagarde would hint at any potential end date for its PEPP programme, but she instead channelled the spirit of former British Prime Minister Margaret Thatcher, saying: "The lady isn't tapering." Germany's 10-year yield, the benchmark for the bloc, dropped back to -0.31% in its biggest move since July. Italy's 10-year yield slid 5 basis points in its biggest fall since late May, while the euro climbed for the first time in four days to be worth $1.1827. [GVD/EUR] PEPP https://fingfx.thomsonreuters.com/gfx/ CAUTION! FRAGILE CHINA Back in the equity markets it wasn't just about the ECB. U.S. stock futures, the S&P 500 e-minis, were down 0.1% after falls from Apple (NASDAQ:AAPL) and Facebook (NASDAQ:FB) on Wednesday and after one of the Federal Reserve's policymakers had urged the central bank to get on with its own stimulus wind-down plans. (N) The UK's FTSE 100 was leading Europe's losses as low-cost airline easyJet (LON:EZJ) tumbled nearly 10% as it tapped shareholders for 1.2 billion pounds ($1.7 billion). The broader travel sector was down as much as 1.8%. (EU) MSCI's broadest index of Asia-Pacific shares ended down 1%, which was its worst daily performance since Aug. 19, the last time markets decided they were worried about the U.S. Federal Reserve tapering its massive asset purchase programme. China bears were once again the reason. Chinese tech giants Tencent, NetEase (NASDAQ:NTES) and Alibaba (NYSE:BABA) had slumped 8.5%, 11% and 6% respectively after online gaming chiefs were summoned by authorities to check they are sticking to strict new rules for the sector. "The global story is looking soft and it's being hit by the Delta variant plus concern about potentially the Fed still moving towards a taper," said Rob Carnell, Asia head of research at ING. "It's an unsettling combination of things." The China angst had meant Hong Kong, where many heavyweight Chinese firms are also listed, was among the biggest fallers, shedding 2.3%. News that Chinese authorities had told gaming firms to resolutely curb incorrect tendencies such as focusing "only on money" and "only on traffic" had hurt companies with large gaming operations. Tencent fell 8.5%, Bilibili (NASDAQ:BILI) lost nearly 9% and NetEase slumped 11%. There was more turbulence too for the country's most indebted property giant, Evergrande. Media reports the company would suspend some interest payments on loans and payments to its wealth management products sent its shares down more than 10% at one point, although they recovered almost half of the drop on news that some creditors had agreed to loan payment extensions. Korea's Kopsi fell 1.5%, also under pressure from regulatory scrutiny of local tech players. In Korea's case, fintech names such as Kakao Corp , which sank 7.2%, and Naver Corp, down 6.9%, were in the spotlight. Australian stocks lost nearly 2% after payrolls data showed a sharp drop in jobs in the first half of August. It was calmer in the commodities markets. Oil prices were steady as production in the U.S. Gulf of Mexico was slow to come back on line following Hurricane Ida, while aluminium hit a 13-year high, partly in response to a coup in Guinea, one of the world's top bauxite producers. "Political unrest in Guinea has significantly raised the risk of disruption. At the same time, power shortages and environmental measures are restricting output in China," ANZ analysts said in a note. ($1 = 0.7246 pounds) " onerror="this.style.display='none'" class="msg-img" />

By Alun John HONG KONG (Reuters) - Asian shares were set for their worst day in two weeks on Thursday, weighed down by the latest regulatory crackdown in China and global investors worries' about a looming reduction in central bank stimulus, while the dollar held firm. European shares looked set to follow suit, with FTSE futures off 0.65% and pan-region Euro Stoxx 50 futures down 0.8%, in early trading ahead of a closely watched announcement from a meeting of the European Central Bank. Analysts anticipate the ECB will announce a token step towards reducing its emergency economic support. MSCI's broadest index of Asia-Pacific shares outside Japan was last down 1.26%, which would be its worst daily performance since Aug. 19, the last time markets decided they were worried about the U.S. Federal Reserve tapering its massive asset purchase programme. U.S. stock futures, the S&P 500 e-minis, were down 0.45%. "The global story is looking soft and it's being hit by the Delta variant plus concern about potentially the Fed still moving towards a taper. It's an unsettling combination of things that I think is weighing on the market at the moment," said Rob Carnell Asia head of research at ING. "Until we actually get the taper announcement ... it's going to be that sort of environment where it's glass half full, glass half empty depending on who's reading the tea leaves that day." Strong U.S. job openings data overnight went some way to turning around the mood after investors had been betting the lower-than-expected payroll reading last week would mean the Federal Reserve would delay trimming its stimulus, sending MSCI's world equity index to a new all time on Tuesday. But local factors also played a part in Asian shares' declines on Thursday. Hong Kong was among the biggest fallers shedding 2.02%, dragged down particularly by Chinese tech stocks after Chinese authorities told gaming firms to resolutely curb incorrect tendencies such as focusing 'only on money' and 'only on traffic'. This hurt companies with large gaming operations, and Tencent fell 6%, Bilibili (NASDAQ:BILI) lost 6.6% and NetEase (NASDAQ:NTES) shed 7.4%. Korea's Kopsi fell 1.5%, also weighed by regulatory scrutiny of local tech players. In Korea's case, fintech names such as Kakao Corp , which sank 7.2%, and Naver Corp, down 6.9%, were in the spotlight. Australia lost 1.97% after payrolls data showed a sharp drop in jobs in the first half of August, and Chinese blue chips lost 0.63%. Following its meeting on Thursday, analysts polled by Reuters expect the ECB to announce a cut to the pace of its emergency bond purchases from next quarter but to keep buying bonds at least until 2024 under its main programme, and possibly much longer. Ahead of the decision, the euro slipped to $1.1815, a little off Friday's two-month high of $1.1909, while the dollar inched higher against a basket of its peers, having gained in the previous three sessions. Benchmark 10-year Treasury notes yielded 1.3292%, little changed in Asian hours, having edged lower on Wednesday after a strong auction by the U.S. Treasury. Oil prices were steady as production in the U.S. Gulf of Mexico output following Hurricane Ida gradually came back on line. U.S. crude was flat at $69.29 a barrel. Brent crude was up 0.12% at $72.68 per barrel. Gold dropped slightly, hurt by the stronger dollar, languishing near two-week lows with the spot price at $1,787.83 per ounce off 0.06%. [GOL/]

By Carolyn Cohn LONDON/HONG KONG (Reuters) - World stocks edged away from the previous session's record highs and European stocks dropped on Wednesday on uncertainty over the pace of economic recovery, while the dollar hit one-week highs as investors reduced exposure to riskier assets. U.S. S&P futures eased 0.1% after the S&P 500 fell 0.34% on Tuesday. Accommodative central bank policies and optimism about reopening economies have pushed equities to record highs but concerns are growing about the impact of rising coronavirus infections due to the Delta variant. Markets are also still assessing data from last week which showed the U.S. economy created the fewest jobs in seven months in August, and wondering how the U.S. central bank will respond. The Fed should move forward with a plan to taper its massive asset purchase programme despite the slowdown in job growth, St. Louis Federal Reserve Bank President James Bullard said in an interview with the Financial Times on Wednesday. "Everything is tapering, tapering, tapering. We are looking at every single central bank - when is the next one?" said Eddie Cheng, head of international multi-asset portfolio management at Wells Fargo (NYSE:WFC) Asset Management, though he added: "The Delta variant impact is still running like a wild card". MSCI's world equity index fell 0.17% after seven consecutive days of gains. European stocks hit their lowest in nearly three weeks and were down 0.69%. Britain's FTSE 100 struck two-week lows and were down 0.56%. "What is likely ahead of us is a continued but temporary deceleration of economic activity of one to three months which likely started in August," said Sebastien Galy, senior macro strategist at Nordea Asset Management. Fed officials John Williams and Robert Kaplan speak later on Wednesday. In Europe, markets are focused on whether the European Central Bank will this week begin to scale back its bond purchase programme. The dollar hit a one-week high against the single currency and was trading at $1.1819. It also reached a one-week peak against an index of currencies, recovering from recent five-week lows. It was trading at 92.67 on the index, up 0.15%. Yields on 10-year Treasury notes fell to 1.3529% compared to a U.S. close of 1.371% on Tuesday, retreating from this week's eight-week highs. Germany's 10-year Bund yield also hit eight-week highs before edging lower to -0.331%. "Fears that central banks might start to taper their asset purchases seems to have knocked away a little confidence, particularly given tomorrow’s ECB decision where many expect we’ll begin to see the start of that process, not least with inflation there running at its highest levels in almost a decade," Deutsche Bank (DE:DBKGn) analysts said in a note. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.45%, having risen in each of the past eight sessions. Chinese blue chips dropped 0.41%, weighed down by recent soft data in the world's second-biggest economy. But Japan's Nikkei jumped 0.89% to a five-month high, helped by revised gross domestic product growth figures beating expectations. Bitcoin paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering. It was last at $46,532, down 0.71%. U.S. crude oil jumped 1.38% to $69.30 a barrel and Brent crude rose 1.14% to $72.50 per barrel, with prices supported by a slow restart to production in the Gulf of Mexico after Hurricane Ida hit the region. Gold gained 0.17% to $1796.90 per ounce in line with the risk-averse mood and just below the psychologically key $1,800 level which it fell through in the previous session.

By Alun John HONG KONG (Reuters) -Asian shares snapped eight successive sessions of gains on Wednesday, as fresh worries about slowing global growth prompted investors to reduce their exposure to riskier assets in a boost to safe-havens such as the U.S. dollar. In early European trades, FTSE futures were down 0.36%, pan-region Euro Stoxx 50 futures dropped 0.09%, but U.S. stock futures, the S&P 500 e-minis, gained 0.10%. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.50% having stretched its gains in the past eight sessions. Bucking the regional trend, Japan's Nikkei gained 0.79% to a five-month high helped by revised gross domestic product growth figures beating expectations. [L4N2Q90R4] But overall sentiment in Asia mirrored weakness on Wall Street overnight. Australia slipped 0.35%, Hong Kong shed 0.24% and Chinese blue chips dropped 0.58%, also weighed down by recent soft data in the world's second-biggest economy. Medium-term prospects also continue to weigh on shares in Asia. The MSCI regional benchmark is still well off all-time highs, unlike equity markets in the U.S. and Europe. "The Asia Pacific region – following a zero-tolerance (coronavirus) pandemic policy and reliant on exports for growth - could underperform as global demand for goods softens and social distancing restrictions in many APAC cities are reimposed," said David Chao, Global Market Strategist, Asia Pacific (ex-Japan) at Invesco "This, coupled with the region's much lower vaccination rate, could lead to a continued cycle of lockdown and releases." Overnight the MSCI world equity index retreated from a record high after seven consecutive days of gains. U.S. shares had slipped, said analysts at ANZ in a note, on concerns that the U.S. economy may be starting to slow following the weaker-than-expected jobs data, while in Europe markets are focused on whether the European Central Bank will begin to scale back its bond purchase programme. The dollar was fairly steady in Asian trading, holding onto its overnight gains against a basket of its peers having risen from near a five week-low alongside benchmark U.S. treasury yields. Yields on 10-year Treasury notes were last at 1.3749% compared to a U.S. close of 1.371% on Tuesday, down from an eight-week high of 1.385% earlier in the day. Higher yields had hurt non-interest-bearing gold overnight, but the spot price gained 0.16% on Wednesday to $1796.89 per ounce in line with the risk-averse mood, edging back towards $1800 having fallen below the level in the previous session. [GOL/] Bitcoin paused for breath after plunging 17% on Monday to a low of around $43,000 before recovering. It was last at $46,300, down a more modest 1.24%. U.S. crude oil meanwhile ticked up 0.5% to $68.59 a barrel as Brent crude gained 0.31% to $71.94 per barrel, with prices supported by a slow production restart in the U.S. Gulf of Mexico after Hurricane Ida hit the region. [O/R]

By Ahmad Ghaddar LONDON (Reuters) - Oil prices fell on Tuesday, extending losses from the previous session, as Saudi Arabia's sharp cuts in crude contract prices for Asia sparked fears over slower demand, but strong Chinese economic data and U.S. output outages capped losses. Brent crude futures were down 24 cents, or 0.3%, to $71.98 a barrel by 1336 GMT, after falling 39 cents on Monday. U.S. West Texas Intermediate crude was at $68.55 a barrel, down 74 cents, or 1.1%, from Friday's close, with no settlement price for Monday due to the Labor Day holiday in the United States. Both contracts dropped by more than $1 a barrel earlier in the session. "The deep cut in Saudi OSP and the aftershock of Friday's disappointing U.S. jobs data that strengthened the dollar yesterday were enough to put bulls on the backfoot," Tamas Varga of oil brokerage PVM said. Saudi Aramco (SE:2222) on Sunday cut October official selling prices (OSPs) for all its crude grades sold to Asia by at least $1 a barrel. The deep price cuts, a sign that consumption in the world's top-importing region remains tepid, come as lockdowns across Asia to combat the Delta variant of the coronavirus have clouded the economic outlook. At the same time, the U.S. economy created the fewest jobs in seven months in August as hiring in the leisure and hospitality sector stalled amid a resurgence in COVID-19 infections, which weighed on demand at restaurants and hotels. Oil prices, however, were underpinned by strong Chinese economic indicators and continued outages of U.S. supply from Hurricane Ida. China's crude oil imports rose 8% in August from a month earlier, customs data showed, as refiners resumed purchases following the issue of new import quotas. China's economy got a boost as exports unexpectedly grew at a faster pace in August thanks to solid global demand, helping take some of the pressure off the world's second-biggest economy as it navigates its way through headwinds from several fronts. More than 80% of oil production in the Gulf of Mexico remained shut after Ida, a U.S. regulator said on Monday, more than a week after the storm made landfall and hit critical infrastructure in the region. Hedge funds purchased petroleum last week at the second-fastest rate this year after Ida disrupted offshore oil wells and onshore refineries in the Gulf.

By Julia Payne LONDON (Reuters) - Oil prices fell on Monday, extending losses after the world's top exporter Saudi Arabia cut crude contract prices for Asia over the weekend, reflecting well-supplied global markets and concerns over the demand outlook. Brent crude futures for November fell 28 cents, or 0.39%, to $72.33 per barrel by 1229 GMT. U.S. West Texas Intermediate crude for October was at $69.04 a barrel, down 25 cents, or 0.36%. Both contracts were down more than $1 in earlier trade. State oil group Saudi Aramco (SE:2222) notified customers in a statement on Sunday that it will cut October official selling prices (OSPs) for all crude grades sold to Asia, its biggest buying region, by at least $1 a barrel. The price cuts were larger than expected, based on a Reuters poll of Asian refiners. "The cut in Saudi OSPs to Asia provided a brief downside pressure this morning, which the market is recovering from," Tamas Varga at PVM Oil Associates said. "The monthly EIA report (U.S. government data) due out Wednesday will be eagerly watched and in case demand estimates for the balance of this year and for 2022 remain solid the market could easily edge towards the high seen in July." Global oil supplies are increasing as the Organization of the Petroleum Exporting Countries and their allies, a grouping known as OPEC+, is raising output by 400,000 barrels per day each month between August and December. "Given that OPEC+ is continuing its plan to raise production monthly, despite weak data from China and the U.S. raising slowdown fears, and Saudi Arabia looking for market share in the region, oil is likely to remain under pressure," said Jeffrey Halley, a senior market analyst for Asia Pacific at brokerage OANDA. The decline in crude futures added to falls on Friday after a weaker than expected U.S. jobs report indicated a patchy economic recovery that could mean slower fuel demand during a resurgent pandemic. Losses were capped by concerns that U.S. supply would remain limited in the wake of Hurricane Ida. The U.S. government is releasing crude from strategic petroleum reserves as production in the U.S. Gulf Coast struggled to recover. Some 1.7 million barrels of oil and 1.99 billion cubic feet of natural gas output remained offline, government data released on Friday showed, while power shortages are preventing some refineries from resuming operations. The hurricane also led U.S. energy firms last week to cut the number of oil and natural gas rigs operating for the first time in five weeks, data from Baker Hughes showed on Friday. The oil rig count fell the most since June 2020.

By Roslan Khasawneh and Sonali Paul SINGAPORE (Reuters) -Oil prices were mixed on Friday after a strong rise in the previous session on a weaker dollar and a fall in U.S. crude stocks and were set for modest weekly gains ahead of a highly anticipated U.S. monthly jobs report. Brent crude futures were up 13 cents, or 0.2%, to $73.16 a barrel at 0619 GMT, while U.S. West Texas Intermediate (WTI) crude futures were down 4 cents, or 0.1%, at $69.95 a barrel. Both benchmark oil contracts jumped 2% on Thursday, putting WTI on track to climb 1.8% for the week, while Brent headed for a 0.6% weekly gain. The move down in WTI was likely due to traders squaring positions ahead of the U.S. non-farm payrolls report for August, on worries the report may be weaker than consensus forecasts, said Stephen Innes, managing partner at SPI Asset Management. However, some analysts see room for further oil price gains amid tightening crude supplies and signs of recovering fuel demand. "With an oil market still strongly in deficit for the remainder of the year, oil seems poised to rally further as OPEC+ signals discipline in easing cuts and as U.S. stockpiles continue to decline," Edward Moya, senior market analyst at OANDA, said. The increase this week has also come amid a falling U.S. dollar, which makes oil cheaper in other currencies, and the fallout from Hurricane Ida. "The prolonged U.S. Gulf production and Louisiana refining capacity outages, which are bound to carve a bigger hole in the already diminished U.S. oil stockpiles, as well as data showing continued strong domestic fuel demand recovery are supportive factors," said Vandana Hari, energy analyst at Vanda (NASDAQ:VNDA) Insights. About 1.7 million barrels per day of oil production remains shut in the U.S. Gulf of Mexico, with damage to heliports and fuel depots slowing the return of crews to offshore platforms, sources told Reuters. Offsetting the supply impact, oil demand has been curbed as extended power outages are slowing the reopening of refineries that were shut in Louisiana. Demand is likely to be in focus after the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, this week stuck to their plan to add 400,00 barrels per day (bpd) back to the market over the next few months amid surging COVID-19 cases, analysts said. "The focus shifts again to the shape of the demand recovery, with some concern that it will be challenging to keep the market in deficit next year if OPEC+ continues to add supply at the anticipated 400,000 bpd pace," Innes said.

By Bozorgmehr Sharafedin LONDON (Reuters) -Oil prices rose more than $1 on Thursday, supported by optimism about the pace of the economic recovery from the pandemic, a sharp decline in U.S. crude stocks and a weaker dollar. Brent crude was up $1.25, or 1.8%, at $72.84 a barrel by 1341 GMT and West Texas Intermediate (WTI) crude rose $1.39, or 2%, to $69.98. The number of Americans filing new claims for jobless benefits fell last week, while layoffs dropped to their lowest level in more than 24 years in August, suggesting the labour market was charging ahead even as new COVID-19 infections surge. "Although oil is lagging equities, its downside is clearly limited by the general confidence surrounding the global economy despite consistent fears of the prolonged spread of the coronavirus," said Tamas Varga, oil analyst at London brokerage PVM Oil Associates. Meanwhile, India's gasoline demand is set to hit a record this fiscal year, with consumption accelerating as more people hit the road for business and leisure travel after easing of COVID-19 curbs. In the United States, crude inventories dropped by 7.2 million barrels last week, the Energy Information Administration said on Wednesday. [EIA/S] Hurricane Ida, meanwhile, has affected about 80% of the Gulf of Mexico's oil and gas output. Oil refineries in Louisiana could take weeks to restart. "Crude oil processing will probably take considerably longer to recover from the outages than crude oil production, which suggests that crude oil stocks will increase in the coming weeks," said Commerzbank (DE:CBKG) analyst Carsten Fritsch. Optimistic about the global economic recovery, the Organization of the Petroleum Exporting Countries and allied producers including Russia, together known as OPEC+, has raised its demand forecast for 2022. The group agreed on Wednesday to continue a policy of phasing out record production reductions by adding 400,000 barrels per day (bpd) to the market. "What is not so certain ... is whether demand will be able to grow as quickly as OPEC+ and the market predicts," said Rystad Energy's head of oil markets, Bjornar Tonhaugen, citing the risk of further coronavirus lockdowns to counter new variants of the virus.

Thursday, September 2, 2021 Futures Up/Down % Last Dow 45.00 0.13% 35,335 S&P 500 6.25 0.14% 4,527 Nasdaq 29.50 0.19% 15,638 Stock index futures are indicating a higher open with rates edging down (10-year drops back below 1.3%) as investors await another set of numbers on the labor market in the form of weekly jobless claims, ahead of Friday’s payrolls report (which followed a weaker private payroll report from ADP yesterday). A brutal night across the Northeast saw tornado watches and flash flood warnings for parts of the Tri-State Area as remnants of Hurricane Ida brought in heavy winds and drenching rains that turned major highways into rivers and even showed water rushing through Newark Liberty International Airport, canceling all flights there. The tail-end of hurricane Ida dumped a “record breaking” amount of rain over New York and New Jersey putting both areas into states of emergency. Hurricane Ida, which devastated Louisiana this week, could mobilize lawmakers to pass the bipartisan $1T infrastructure bill, which is making its way through Congress. In Asian markets, The Nikkei Index rose 92 points to 28,543, he Shanghai Index climbed 29 points to 2,597, and the Hang Seng Index advanced 62 points to settle at 26,090. In Europe, markets are quiet as the German DAX is flat at 15,825, while the FTSE 100 is down a few points to 7,145. Bitcoin prices moved back above the $50K level overnight, last trading up 3.3% around $49,900 in a rebound for crypto; Ethereum prices up modestly after outperformance Wednesday, last around $3,750. Crude is rising after OPEC+ ministers’ unity reinforced market stability Events Calendar for Today 7:30 AM ET Challenger Layoffs for Aug 8:30 AM ET Weekly Jobless Claims…est. 345K 8:30 AM EST Continuing Claims…est. 2.775M 8:30 AM ET International Trade for July…est. (-$71.0B) 8:30 AM ET Nonfarm Productivity, Q2…est. 2.4% 8:30 AM ET Unit Labor Costs for Q2…est. 0.9% 10:00 AM ET Factory Orders MoM for July…est. 0.3% 10:00 AM ET Durable Goods Orders MoM for July 10:30 AM ET Weekly EIA Natural Gas Inventory Data Earnings Calendar: Earnings Before the Open: AEO, BNED, BRC, CIEN, DCI, DLTH, GCO, GIII, GMS, JRL, JW/A, KIRK, LE, MCFT, MEI, SCWX, SIG, TTC Earnings After the Close: AVGO, COO, CTHR, CTLP, DOCU, GWRE, HPE, JOAN, LAW, MDB, MDLA, MEIP, NX, OOMA, OXM, PD, SAIC, TLYS, YEXT Other Key Events: Barclay’s Media & Telecom Forum (virtual), 9/1-9/2 Stephens Auto investor Field Trip, 9/1-9/2 Caixin Services PMI for Aug Market Closing Prices Yesterday The S&P 500 Index gained 1.41 points, or 0.03%, to 4,524.09 The Dow Jones Industrial Average fell -48.20 points, or 0.14%, to 35,312.53 The Nasdaq Composite climbed 50.15 points, or 0.33%, to 15,309.38 The Russell 2000 Index advanced 13.28 points, or 0.58% to 2,287.06 Macro Up/Down Last Nymex 0.36 68.95 Brent 0.38 71.97 Gold 1.50 1,815.40 EUR/USD 0.0015 1.1854 JPY/USD 0.00 110.01 10-Year Note -0.013 1.289% Sector News Breakdown Consumer Chewy ($CHWY) shares fell -10%; 2Q adj EBITDA $23.3Mm vs est. 34.4Mm on sales $2.16B vs est. $2.2B; sees FY net sales $8.9B-$9.0B vs. est. $9.0B Costco ($COST) reported total comparable sales for Aug. that beat the average analyst estimate; Aug. total comparable sales +14.2%, estimate +12.5%; Aug. U.S. comparable sales excluding fuel, currencies +10.1%, estimate +7.10% Five Below ($FIVE) shares fell -9%; 2Q EPS $1.15 vs est. $1.11 on sales $646.6Mm vs est. $648.3Mm; guides 3Q net sales $550-565Mm on +MSD comps vs est. $551Mm, sees EPS $0.23-0.30 vs est. $0.27 Hormel Foods ($HRL) shares fall -4%; Q3 adj EPS $0.39, in-line with estimates; Q3 revs $2.86B vs. est. $2.73B; Q2 volume of 1.2B pounds, up 1%; organic volume down 2%; operating margin 7.2%; cuts FY21 EPS view to $1.65-$1.69 from $1.70-$1.82, while raises FY21 revenue view to $11B-$11.2B from $10.2B-$10.8B Chinese regulators summoned 11 ride-hailing firms including DIDI Global ($DIDI) to discuss concerns related to the sector; China’s transport ministry highlighted the hiring of unqualified drivers and use of promotions that disrupt fair market order during the meeting Sportsman’s Warehouse ($SPWH) Q2 adj EPS $0.44 vs. est. $0.48; Q2 sales $361.8M vs. est. $345.6M; said Q2 same store sales decreased 9.9% compared to the same period last year; For the first half of fiscal year 2021, same store sales increased 3.4% compared to the same period last year; Adjusted EBITDA was $35.2M compared to $53.6M in the comparable prior year period; not providing guidance Smith & Wesson Brands ($SWBI) Q1 adj EPS $1.57 vs. est. $1.29; Q1 revs $274.6M vs. est. $278.59M; record gross margin of 47.3% vs. 40.2% last year ChargePoint Holdings ($CHPT) rises 12%; 2Q EPS ($0.29) vs est. ($0.13) on revs $56.1Mm vs est. $49.1Mm, says activated ports exceed 118,000 with over 5,400 in Europe and over 3,700 DC fast charge ports; guides 3Q revs $60-65Mm vs est. $54.7Mm, sees FY revs $225-235Mm up from $195M-$205M vs est. $206.6Mm DraftKings ($DKNG) announced the launch of DraftKings Online Sportsbook in Wyoming, marking the thirteenth state in which its mobile sportsbook is available Tesla ($TSLA) now aims for Full Self-Driving Beta public release ~September 25th, Electrek reports https://electrek.co/2021/09/01/tesla-full-self-driving-beta-public-release-4-weeks/ Energy, Industrials and Materials Greif ($GEF) Q3 adj EPS $1.93 vs. est. $1.54; Q3 revs $1.49B vs. est. $1.39B; sees FY21 EPS $5.10-$5.30 vs. est. $4.63; sees FY21 adjusted free cash flow $335M-$365M Ingersoll Rand Inc. ($IR) authorized a new share repurchase program of $750 mln Exelon ($EXC) tells Illinois lawmakers and Gov. J.B. Pritzker to finalize an energy policy deal by September 13 or face the permanent closure of one of the state’s six nuclear power plants. Energy Transfer ($ET) signed a 15-year power purchase agreement to buy 120 MW of electricity from SoftBank’s ($SFTBY) Eiffel Solar project in northeast Texas; financial terms are not disclosed. General Electric ($GE) was awarded a not-to-exceed $1.65B firm-fixed-price, indefinite-delivery, performance-based logistics requirements contract for the repair, upgrade or replacement, inventory management, and required supply response times of 17 F414 engine components in support of the F/A-18 aircraft Virgin Galactic ($SPCE) slips after the U.S. Federal Aviation Administration (FAA) said on Wednesday it is investigating descent deviation of July 11 flight of SPCE rocket plane that carried British billionaire Richard Branson. FAA spokesman told Reuters vehicle “deviated from its Air Traffic Control clearance as it returned to Spaceport America. The FAA investigation is ongoing.” Donaldson ($DCI) Q4 EPS $0.66 in-line with estimates; Q4 revs $773.1M vs. est. $770.69M; sees FY22 EPS $2.50-$2.66 vs. est. $2.68; sees FY22 sales growth of 5%-10% (est. $3.12B) OPEC+ and its allies agreed yesterday to stick to their existing plan for gradual monthly oil-production increases after a video conference. Ministers ratified the 400,000 barrel-a-day supply hike scheduled for October after one of the quickest meetings in recent memory. Financials CIBC to become exclusive credit card issuer for Costco Mastercard’s in Canada and acquire existing Costco Canadian credit card portfolio Over the last six months SPACs have lost $75 billion. A group of 137 SPACs that closed mergers by mid-February have lost 25% of their combined value. At one point last month, the pullback topped $100 billion – WSJ Healthcare FDA AdComm to discuss Pfizer ($PFE) and BioNTech SE ($BNTX) application for COVID-19 Booster on September 17th Assembly Biosciences, Inc. ($ASMB) shares fall -20%, as the clinical-stage biotechnology company developing innovative therapeutics targeting hepatitis B virus ($HBV), today announced its decision to discontinue development of ABI-H2158 (2158) following the observation of elevated ALT levels consistent with drug-induced hepatotoxicity in an ongoing Phase 2 trial. Cannabis space: The newly inaugurated governor of New York says she wants to “jumpstart” the implementation of marijuana legalization—and she took a major step on Wednesday by making two key regulatory appointments for the state’s cannabis market that have now been confirmed in a Senate committee during a special session (watch shares of $TLRY, $CURLF, $GTBIF, $CRON) https://bit.ly/3jzhR0D Phreesia ($PHR) 2Q EPS ($0.48) vs est. ($0.10) on revs $51Mm vs est. $47.2Mm, says avg number of provider clients was 1,987 in qtr vs 1,668 prior year +19%; guides FY revs $195-198Mm vs est. $193.4Mm, continue to expect overall cash outflow to increase in FY22 vs FY21 NeoGenomics Inc ($NEO) files prospectus related to resale or other disposition of 4.4 mln shares by selling stockholders Ascendis Pharma ($ASND)5M share Secondary priced at $160.00 Technology, Media & Telecom Asana ($ASAN) Q2 adj EPS loss (-$0.23) vs. est. loss (-$0.26); Q2 revs $89.5M vs. est. $82.24M; sees Q3 adj EPS loss (27c)-(26c) vs. est. loss (-$0.28); sees Q3 revs $93M-$94M vs. est. $86.72M; raises FY22 revenue view to $357M-$359M from $336M-$340M (est. $338.81M); Revenues from customers spending $5,000 or more on an annualized basis grew 97% YoY; customers spending $50,000 or more on an annualized basis increased to 598, up 111% YoY ai ($AI) shares fell -10%; Q1 EPS loss (-$0.37) vs. est. loss (-$0.28); Q1 revs $52.4M vs. est. $51.16M; said Q1 included YoY increases of 29% in revenue and 31% in gross profit; sees Q2 revenue $56M-$58M vs. est. $56.12M; sees FY22 revenue $243M-$247M vs. est. $245.4M; Q1 Subscription revenue was $46.1M, up from $35.7M one year ago, an increase of 29% Yoy eGain ($EGAN) 4Q adj EPS $0.08 vs est. $0.03 on revs $20.2Mm vs est. $19.9Mm; guides 1Q adj EPS $0.02-0.05 vs est. $0.03, sees 1Q revs $20.9-21.3Mm vs est. $20.6Mm; guides FY revs $88.2-89.8Mm vs est. $87.1Mm; sees FY adj EPS ($0.03) to $0.00 vs est. $0.20 nCino ($NCNO) 2Q adj EPS ($0.02) vs est. ($0.06) on revs $66.5Mm vs est. $63.7Mm; guides 3Q adj net EPS loss $0.06-0.07 vs est. loss $0.06, sees 3Q revs $66-67Mm vs est. $65.1Mm; guides FY adj EPS net loss $0.22-0.23 vs est. loss $0.23, sees FY revs $263-264Mm vs est. $259.1Mm Nutanix ($NTNX) Q4 adj EPS loss (-$0.26) vs. est. loss (-$0.42); Q4 revs $390.7M vs. est. $362.88M; operating expenses topped revenue at $454.1M though rose from $432.3M a year ago; sees Q1 ACV Billings $172M-$177M Okta ($OKTA) Q2 adj EPS loss (-$0.11) vs. est. loss (-$0.35); Q2 revs $316M vs. est. $296.52M; sees Q3 adj EPS loss (25c)-(24c) vs. est. loss (-$0.34); sees Q3 revs $325M-$327M vs. est. $322.93M; raises FY22 adjusted EPS loss view (77c)-(74c) from ($1.16)-($1.13); Q2 revenue grew 57% year-over-year; subscription revenue grew 59% YoY; remaining performance obligations (RPO) grew 57% YoY to $2.24 billion Semtech ($SMTC) 2Q adj EPS $0.65 vs est. $0.62 on sales $185Mm vs est. $182.9Mm; guides 3Q adj EPS $0.68-0.76 vs est. $0.67 with adj gr margin 62.8-63.8%, adj SG&A $33.5-34.5Mm, adj R&D $32.5-33.5Mm Veev Systems ($VEEV) 2Q adj EPS $0.94 vs est. $0.87 on revs $455.6Mm vs est. $451.9Mm; guides 3Q adj EPS $0.87-0.88 vs est. $0.86, sees 3Q revs $464-466Mm vs est. $460Mm; guides FY revs $1.83-1.835B vs est. $1.823B, sees FY adj EPS about $3.57 vs est. $3.47 China’s Alibaba Group ($BABA) will invest 100 billion yuan ($15.5 billion) by 2025 in support of “common prosperity”, it said, becoming the latest corporate giant to pledge support for the initiative driven by President Xi Jinping Ireland hit Facebook’s ($FB) WhatsApp with a record 225 million euro ($266 million) fine on Thursday following an inquiry into the messaging app’s transparency around sharing personal data with other Facebook companies.

Chevron: Offshore Facilities In Gulf Of Mexico Appear To Be Undamaged After Hurricane Ida - RTRS

By Noah Browning LONDON (Reuters) -Oil prices rose on Wednesday before an OPEC+ meeting at which the producer club is expected to stick to a plan to add 400,000 barrels per day (bpd) each month to the end of December. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, are set to meet at 1500 GMT. OPEC+ has raised its forecast for oil demand next year, sources within the group told Reuters, in a move that might help to build a case for raising output. Brent crude for November delivery gained 21 cents, or 0.3%, to $71.84 a barrel by 1225 GMT. U.S. West Texas Intermediate (WTI) crude for October was up 22 cents, or 0.3%, at $68.72. U.S. President Joe Biden's administration has urged OPEC+ to boost output to tackle rising gasoline prices that it views as a threat to the global economic recovery. "One foregone conclusion is that they will not add additional barrels as per Washington's recent request. Nor will they press the pause button on easing supply curbs," said Stephen Brennock of oil broker PVM. "There is no reason to think (OPEC+) will rock the boat when it comes to its production strategy." Prices were also supported by a U.S. industry report showing that crude inventories fell more than expected last week, though much U.S. refinery capacity remains offline in the wake of Hurricane Ida. U.S. crude stocks fell by 4 million barrels for the week to Aug. 27, according to two market sources, citing American Petroleum Institute (API) figures on Tuesday. Ahead of the weekly Energy Information Administration report due at 10:30 a.m. EDT (1430 GMT) on Wednesday, a Reuters poll of analysts estimated crude stocks would drop by 3.1 million barrels. [EIA/S] However, U.S. crude prices are expected to remain under pressure as offshore oil and gas production in the Gulf of Mexico gradually recovers, though refinery operations are likely to take longer to return to normal, analysts say. (Addditional reporting by Florence Tan in Singapore and Sonali Paul in MelbourneEditing by Edmund Blair and David Goodman)

By Dmitry Zhdannikov LONDON (Reuters) -Oil slipped on Tuesday as OPEC and its allies geared up for a meeting on Wednesday amid calls from the United States to pump more crude, though Brent still traded well above $70 a barrel. Prices were also under pressure from concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries. Crude was also weighed down by manufacturing data from China, where factory activity in August expanded at a slower pace than in the previous month. Brent crude futures for October, due to expire on Tuesday, fell 50 cents, or 0.7%, to $72.91 a barrel by 1330 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 58 cents, or 0.8%, at $68.63. Both benchmarks were on track for their first monthly loss since March but were still not far from their July highs, when Brent rose to its strongest since 2018 and U.S. crude since 2014. In August U.S. President Joe Biden's administration urged the Organization of the Petroleum Exporting Countries (OPEC) to boost oil output to tackle rising gasoline prices. Prior to the U.S. call, OPEC and its allies, together known as OPEC+, had agreed to add 400,000 barrels per day (bpd) to their supply each month until the end of December. Sources told Reuters the Wednesday meeting is likely to leave the plan unchanged despite pressure from the United States to pump more. "It looks like sticking to the plan from the last meeting," an OPEC+ source told Reuters. OANDA analyst Craig Erlam also expects no changes to the OPEC policy. "It would be a surprise if they do anything at the moment, despite pressure from the White House, given current price levels, demand and (the) uncertain outlook," he said. OPEC's own data showed the market will face a deficit until the end of 2021 but then flip into a surplus in 2022. Hurricane Ida, which made landfall in the United States on Sunday as a Category 4 hurricane, knocked out at least 94% of offshore Gulf of Mexico oil and gas production and caused "catastrophic" damage to Louisiana's grid. On the supply side, about 1.72 million bpd of oil production and 2.01 million cubic feet per day of natural gas output remained offline on the U.S. side of the Gulf of Mexico after evacuations at 288 platforms.

https://www.npr.org/2021/08/31/1032738395/hurricane-ida-does-more-damage-at-port-fourchon-than-previous-storms

UK Markets With yesterday being a Bank Holiday we look at the higher close on Friday, helped by gains in energy and mining sector stocks. Grafton Group advanced 3.1%, after the building materials company reported a jump in its revenue and earnings in the first half of the year. Primary Health Properties rose 1.0%, after the company announced that it has acquired a purpose-built hub facility in Bury, Lancashire for a total consideration of £40.0 million. Barclays added 0.7%, after the lender announced that it has agreed to purchase £2.8 billion of credit card receivables from Synchrony Bank issued with The Gap. On the flipside, Just Eat Takeaway.com dropped 7.5%, following news that the New York City Council passed legislation to permanently cap commissions delivery apps can charge restaurants. On Friday, the FTSE 100 rose 0.3%, to close at 7,148.0, while the FTSE 250 advanced 0.5%, to end at 24,059.7. . European Markets Finished higher yesterday, following Federal Reserve (Fed) Chairman Jerome Powell’s statement that the central bank is in no rush to tighten monetary policy. Adva Optical Networking climbed 10.2%, following news that the US based telecommunications networking equipment and internet-working products provider, Adtran, would acquire the vendor for a consideration of €789.0 million. Daimler rose 0.6%. The company announced that it would temporarily suspend production at its Mercedes-Benz factories in Kecskemet, Hungary and in Bremen and Rastatt in Germany this week. On the other hand, Stellantis fell 0.8%, after the carmaker announced plans to extend production halts at several plants in Europe due to a shortage in microchips. The FTSEurofirst 300 index slightly rose to close at 1,820.8. Among other European markets, the German DAX Xetra 30 gained 0.2%, to close at 15,887.3, while the French CAC-40 added 0.1%, to settle at 6,687.3.. . US Markets Closed mostly higher yesterday, amid gains in technology sector stocks. Globalstar skyrocketed 64.3%, following reports that Apple’s iPhone 13 would support satellite communications enabling users to call and send messages via satellite. Affirm Holdings surged 46.7%, after the company partnered with Amazon allowing users to pay over time for purchases of $50 or above. Catalent edged up 0.4%, after the drug manufacturer agreed to acquire nutritional supplement maker, Bettera from private-equity firm, Highlander partners for $1.0 billion. On the other hand, Capital One Financial dropped 6.0%, after a broker downgraded its rating on the stock to ‘Underperform’ from ‘Neutral’. Moderna fell 3.0%, after additionally 1 million vaccine doses were withdrawn from circulation in Japan citing contamination concerns. The S&P 500 rose 0.4% to settle at 4,528.8. The DJIA fell 0.2% to settle at 35,399.8, while the NASDAQ advanced 0.9%, to close at 15,265.9. . Asian Markets Were trading mostly lower this morning, amid concerns over China’s slowing economic growth and regulatory crackdown on tech companies. In Japan, Takashimaya and Tokyu have dropped 2.3% and 2.9%, respectively. Meanwhile, FUJIFILM Holdings and Rakuten Group have advanced 2.3% and 3.3%, respectively. In Hong Kong, AIA Group and BYD have fallen 3.0% and 3.4%, respectively. Meanwhile, Meituan and CITIC have risen 0.5% and 1.3%, respectively. In South Korea, Kum Yang and Galaxia have climbed 12.6% and 13.4%, respectively. Meanwhile, Woongjin and NeXT Science have declined 3.7% and 9.9%, respectively. The Nikkei 225 index is trading 0.2% lower at 27,735.3. The Hang Seng index is trading 1.6% down at 25,130.2, while the Kospi index is trading 0.2% higher at 3,151.5. . Commodity Gold futures contract is trading 0.38% or $6.90 higher at $1816.70 per ounce. Yesterday, the contract declined 0.41% or $7.40, to settle at $1809.80 per ounce, as risk appetite returned among investors. . Brent crude oil one month futures contract is trading 0.63% or $0.46 lower at $72.95 per barrel, ahead of the American Petroleum Institute’s weekly oil inventory data, scheduled to be released later today. Yesterday, the contract climbed 0.98% or $0.71, to settle at $73.41 per barrel, after Hurricane Ida temporarily shut down the US Gulf Coast platforms, refineries and pipelines. . Currency The GBP is trading 0.1% higher against the USD at $1.3774, ahead of UK’s mortgage approvals data for July, slated to release in a few hours. Yesterday, the GBP weakened 0.03% versus the USD, to close at $1.3760. . EUR is trading 0.14% higher against the USD at $1.1814, ahead of Euro-zone’s inflation data for August and Germany’s unemployment rate for August, due in a few hours. Additionally, investors await the US housing price index for June, the Chicago Purchasing Managers' Index and the consumer confidence index, both for August, scheduled to release later today. Yesterday, the EUR strengthened 0.02% versus the USD, to close at $1.1797. On the data front, the Euro-zone’s consumer confidence index dropped as expected in August, while the region’s business climate index fell in the same month. Separately, Germany’s inflation climbed as expected in August. In other economic news, the US pending home sales fell for a second straight month in July, while the nation’s Dallas Fed manufacturing business index fell in August. . Bitcoin BTC is trading 3.09% lower against the USD at $47144.24. Yesterday, BTC declined 0.56% against the USD to close at $48648.90. In a key development, a consortium of leading decentralised finance (DeFi) protocols announced that it has launched a collaborative $100.0 million financial inclusion venture titled “DeFi for the People” to educate individuals globally about decentralised finance. In another development, Standard Chartered announced the launch of a blockchain powered trade finance platform, Dubbed Olea through a joint venture with Chinese fintech provider, Linklogis. . Economic News Euro-zone consumer confidence index fell as expected in August In the Euro-zone, the consumer confidence index dropped to a level of -5.30 in August, in line with market expectations and compared to a revised reading of -4.40 in the prior month. . Euro-zone business climate index declined in August In the Euro-zone, the business climate index fell to 1.75 in July, compared to a revised reading of 1.88 in the previous month. . German CPI climbed as anticipated in August In Germany, the consumer price index (CPI) rose 3.90% on a YoY basis in August, in line with market expectations and compared to a rise of 3.80% in the prior month. . US pending home sales unexpectedly dropped in July In the US, pending home sales unexpectedly fell 1.80% on a MoM basis in July, compared to a revised drop of 2.00% in the previous month. Markets were expecting pending home sales to record an advance of 0.40%. . US Dallas Fed manufacturing business index fell in August In the US, the manufacturing business index declined to a level of 9.00 in August, compared to a reading of 27.30 in the prior month. .

By Kane Wu HONG KONG (Reuters) - Asia stocks reversed earlier losses while the dollar was pinned near two-week lows on Tuesday, with investors staying mostly cautious on fresh signs of slowdown in China's economy. MSCI's gauge of Asia Pacific stocks outside Japan was up 1%, while Japan's Nikkei 225 bounced back strongly to stand 1.1% higher, despite weak July industrial output data. Hong Kong's Hang Seng Index recovered and was up nearly 1% while China's benchmark CSI300 Index widened losses to 0.37%. FTSE futures were trading 0.3% higher while E-mini futures for the S&P 500 index rose 0.35%, indicating strong momentum following Wall Street's all-time highs on Monday. The dollar index stood at 92.537 against a basket of currencies, near its lowest level in two weeks, with trade seen driven by month-end flows as investors looked ahead to U.S. jobs figures later in the week. "The dollar could fall further today amid month‑end flows, particularly against the euro...," Commonwealth Bank of Australia (OTC:CMWAY) said in a note. "However, we still expect the dollar can firm into the end of the week. Concerns about the Delta variant slowing the economy and a strong August non-farm payrolls print are both potential dollar supports." China's businesses and the broader economy came under increasing pressure in August as factory activity expanded at a slower pace while activity in the services sector contracted, raising the likelihood of more policy support to boost growth. Beijing on Monday cut the amount of time players under the age of 18 can spend on online games to an hour on Fridays, weekends and holidays, sending down tech indices and stocks. The CSI information technology sub-index slumped 2.67%. The ChiNext Composite start-up board was 2.51% weaker and Shanghai's tech-focused STAR50 index fell 2.8%​. "Chinese tech sector is under pressure. Divergence should continue when market faces a lot of uncertainties over Chinese policies," said Edison Pun, senior market analyst at Saxo Markets. Australian shares rose further with the S&P/ASX 200 up 0.65% by 0537 GMT. "Asian shares traded sideways on Tuesday following a mixed handover from Wall Street," said Anderson Alves, an equities trader at global online trading platform ActivTrades. "Tuesday's session is the last trading day of the month and some volatility is to be expected as traders hunt for liquidity while trying to get better prices for the monthly settlement, especially on the FX and rates space," he said. U.S. and global equity benchmarks hit all-time highs on Monday, as the Federal Reserve appeared in no rush to step away from its massive stimulus. Elsewhere, oil prices fell on concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries at the same time global producers plan to raise output. U.S. crude reversed losses to stay flat at $69.22 a barrel. Brent also trimmed losses to $73.41 a barrel, as Hurricane Ida weakened into a Category 1 hurricane within 12 hours of coming ashore as a Category 4. "Eyes on OPEC+ meeting after hurricane Ida's hit, short-term supply shock is relieved and OPEC+ meeting could mean more future supply. Crude oil may return to weakness after strong rebound for about 10% last week," Pun said. Spot gold gained 0.44% to $1,818.15 per ounce. ("Eyes on OPEC+ meeting after hurricane Ida's hit, short-term supply shock is relieved and OPEC+ meeting could mean more future supply. Crude oil may return to weakness after strong rebound for about 10% last week," Pun said.Reporting by Kane Wu in Hong Kong; Editing by Richard Pullin and Jacqueline Wong)

By Alex Lawler LONDON (Reuters) -Oil slipped on Monday, giving up an earlier rally to a four-week high, as Hurricane Ida weakened after forcing shutdowns of U.S. Gulf oil production, and OPEC+ looked set to go ahead with a planned oil output increase. Within 12 hours of coming ashore, the storm had weakened into a Category 1 hurricane. Nearly all offshore Gulf oil production, or 1.74 million barrels per day, was suspended in advance of the storm. Brent crude was down 26 cents, or 0.4%, at $72.44 by 1340 GMT, having reached $73.69 earlier, the highest since Aug. 2. U.S. crude fell 9 cents to $68.65, having earlier touched $69.64, the highest since Aug. 6. "Hurricane Ida will dictate oil's near-term direction," said Jeffrey Halley, senior market analyst at OANDA. "If Ida weakens and its path of destruction is lower than expected, oil's rally will temporarily lose momentum here." While crude fell on anticipation of a quick supply recovery, U.S. gasoline was up almost 2% as power outages added to refinery closures on the Gulf coast and traders weighed the possibility of prolonged disruptions. "It's still early days," said Vivek Dhar, analyst at Commonwealth Bank of Australia (OTC:CMWAY). "Oil products, like gasoline and diesel, are likely to see prices rise more acutely from refinery outages especially if there are difficulties in bringing refineries and pipelines back online." Brent has rallied 40% this year, supported by supply cuts by the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, and some demand recovery from last year's pandemic-induced collapse. OPEC+ meets on Wednesday to discuss a scheduled 400,000 bpd increase in its oil output, in what would be a further easing of the record output cuts made last year. OPEC delegates say they expect the increase to go ahead, although Kuwait's oil minister said on Sunday it could be reconsidered.

Oil slips as Hurricane Ida weakens, OPEC+ in focus

Monday, August 30, 2021 Futures Up/Down % Last Dow 22.00 0.06% 35,425 S&P 500 4.25 0.11% 4,510 Nasdaq 26.50 0.17% 15,452 Stock futures in the U.S. are looking higher, extending last week gains following Friday’s dovish address from Federal Reserve Chairman Jerome Powell, where he laid out the case for the slowing of the Fed’s $120 billion in monthly bond purchases, but offered no firm time table. In Asian markets, The Nikkei Index jumped 148 points to 27,789, the Shanghai Index inched higher about 6 points to 3,538 and the Hang Seng Index rose 131 points to 25,539. In Europe, the German DAX rises 35 points to 15,885, while the FTSE 100 is up about 20 points to 7,150. Shares of U.S. insurance companies, energy firms, utilities and refiners may be active when trading starts Monday after Hurricane Ida slammed ashore, hitting the Louisiana coast with winds more powerful than Hurricane Katrina. Stocks closed out last week at new all-time highs, as the S&P 500 climbed 0.9%, settling above 4,500 for the first time, while the Nasdaq Composite advances 1.2% to a new record. For the week, the S&P 500 rose 1.5%, the Dow rose about 1% and the Nasdaq rose 2.8% and the Russell 2000 index jumped 5.1%. Major averages enjoyed gains all week as Fed Chairman Jerome Powell kept rate hikes far over the horizon at the virtual Jackson Hole speech. Treasury yields slumped after Powell raised the possibility of tapering asset purchases this year but set no timetable and also said there was substantial work to do before any rate moves. Market Closing Prices Yesterday The S&P 500 Index gained 39.37 points, or 0.88%, to 4,509.37 The Dow Jones Industrial Average rose 242.70 points, or 0.69%, to 35,455.80 The Nasdaq Composite surged 183.70 points, or 1.23%, to 15,129.50 The Russell 2000 Index advanced 63.17 points, or 2.85% to 2,277.15 Events Calendar for Today 10:00 AM ET Pending Home Sales MoM for July 10:00 AM ET Dallas Fed Manufacturing for August Earnings Calendar: Earnings Before the Open: $CLDR, $CTLT Earnings After the Close: $NDSN, $SOL, $ZM Other Key Events: Citigroup Asia Tech, Media & telecom Virtual Conference, 8/27-8/31 Piper Sandler 2021 Texas Bank Forum (virtual), 8/30-9/1 Piper Houston E&P Bus Tour, 8/30-8/31 China NBS Non-Manufacturing for August Macro Up/Down Last Nymex -0.35 68.39 Brent -0.10 72.60 Gold -1.25 1,816.35 EUR/USD 0.0006 1.18.01 JPY/USD -0.01 109.83 10-Year Note -0.005 1.307% Sector News Breakdown Consumer Li Auto ($LI) posts Q2 revs of 5.04 bln yuan ($779.20M), vs. est. 4.41 bln yuan; Q2 vehicle sales were 4.90 bln yuan during Q2 with deliveries of Li ONE SUVs rising 166% YoY; sees Q3 deliveries of vehicles to be between 25,000 and 26,000, or an increase of 188.7%-200.2% YoY Lululemon Athletica’s ($LULU) mentioned positively in Barron’s noting the stock hasn’t gone very far since its six-month stay as a stay-at-home darling in the immediate aftermath of the pandemic bear market. Its second-quarter earnings might just be the catalyst it needs to get moving again. Energy, Industrials and Materials More than 90% of oil production in the Gulf of Mexico shut down this weekend as Hurricane Ida plowed toward the Louisiana coast, threatening an area that is home to 17% of U.S. oil production, 5% of natural gas output and 15% of U.S. refining capacity. Exxon Mobil ($XOM) reportedly has cut production at its Baton Rouge refinery to 50% of its 520K bbl/day capacity Berry Global ($BERY) a positive mention in Barron’s saying the company makes plastic containers, but writing off Berry for plastics overlooks changing practices in the industry and ignores one of the sturdiest of materials stocks. Berry could narrow the gap between its 10 times 12-month forward earnings and Sealed Air’s ($SEE) and Amcor’s ($AMCR) 15 times, which would imply a 50% gain on multiple expansion alone, the author notes Astra Space Inc ($ASTR) shares fall over -20% after the test launch of its rocket LV0006 was ended prematurely about 2-and-a-half minutes after liftoff; said one of LV0006’s engines shut down less than a second after liftoff United Airlines Holdings Inc. ($UAL) jets like the one that lost an engine cover over Colorado in February aren’t expected to fly until early next year, as federal regulators weigh additional safeguards, people briefed on the matter said. United had hoped to resume flying the wide-body jets this summer. Dow Jones Financials Freshworks Inc. (FRSH) filed for an IPO in the U.S. as the customer relations management software firm looks to compete with larger rivals such as Salesforce.com (CRM). Freshworks wrote in an S-1 filing with the U.S. SEC that it aims to raise $100M Shares of U.S. insurance companies, energy firms, utilities and refiners may be active when trading starts Monday after Hurricane Ida slammed ashore, hitting the Louisiana coast with winds more powerful than Hurricane Katrina Healthcare Baxter International Inc. ($BAX) is in advanced talks to buy medical-equipment maker Hill-Rom Holdings Inc. ($HRC) for around $10 billion, the WSJ reported in a deal that values Hill-Rom at around $150 a share that could be reached by midweek assuming the talks don’t fall apart (talks follow an earlier bid from Baxter worth $144 a share that Hill-Rom rebuffed) https://on.wsj.com/38kIIY9 Catalent Inc. ($CTLT) is expected to announce Monday that it has agreed to buy closely held Bettera Holdings LLC for $1 billion, according to people familiar with the matter, the latest deal involving nutritional supplement companies. https://on.wsj.com/3zs40Pi Moderna ($MRNA) slumped after authorities in Japan suspended the use of a second batch of the drugmaker’s coronavirus vaccine following the discovery of contaminants Vapotherm ($VAPO) said the FDA has given regulatory clearance to the company’s new respiratory-therapy device, HVT 2.0. The device would make it easier for hospitals to give breathing therapy in more areas of the hospital, not just in intensive-care units Technology, Media & Telecom Tesla Inc ($TSLA) Chief Executive Elon Musk has signaled competition concerns over Nvidia Corp’s (NVDA) planned purchase of British chip designer Arm, the Telegraph reported on Saturday, citing multiple sources. Amazon.com Inc and smartphone maker Samsung Electronics Co Ltd have also lodged opposition to the deal with U.S. authorities, the newspaper reported. Barron’s noted China’s most well-known companies are starting to look cheap to some U.S. investors, though the likelihood of volatility means there will be ample opportunity to buy. Alibaba ($BABA), Tencent ($TCEHY) and Yum China ($YUMC) are among the ones to watch HP Inc. ($HPQ) and Dell ($DELL) look attractive and cheap, according to Barron’s. One peculiar outcome of the pandemic has been a newfound appreciation for the personal computer, with the pandemic underlining the need to upgrade to hardware capable of running videoconferencing and other essential software Globalstar ($GSAT) shares may move on a report that Apple’s (AAPL) iPhone 13 will use satellite connectivity so users can make calls and texts in areas without cellular coverage https://bit.ly/3sXY2mN

IDA PASSA DA URAGANO A TEMPESTA TROPICALE

By Alun John HONG KONG (Reuters) - Asian shares perked up and the dollar fell to two-week lows on Monday after U.S. Federal Reserve Chairman Jerome Powell struck a dovish tone at the central bank's long-awaited symposium, although investors remained cautious about prospects in China. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.65% to a two-week high, and Japan's Nikkei rose 0.46%. Hong Kong rose 0.32%, Australia 0.2% and Korea 0.25% but Chinese blue chips bucked the trend, falling 0.26%. "(Powell) really soothed the market's concerns for now, as the Fed is extremely good at doing, and money is going back to the U.S., not that it ever really left," said Daniel Lam, senior cross-asset strategist, at Standard Chartered (OTC:SCBFF) Wealth Management. Lam said there were fewer uncertainties in the United States than in Asia and specifically China, though he added that any further rotation away from Asia would be more incremental "and less dramatic than we saw in July and early August because a lot of people have already left." Chinese companies in sectors from tech to property have been roiled by a series of regulatory crackdowns, spooking some investors and pushing the Hong Kong benchmark to 2021 lows earlier this month. There are also signs that Chinese growth is slowing and so traders are closely watching purchasing manager surveys for manufacturing and services, which are both due this week. U.S. stock futures, the S&P 500 e-minis, rose 0.04%, and pan-region Euro Stoxx 50 futures were up 0.08%. Britain is closed on Monday for a bank holiday. Investors had been waiting to see whether Powell would give a clear indication of his views on the timing of the central bank's tapering of asset purchases or hiking interest rates, which could drag on equity markets. However, in his prepared remarks, Powell offered no indication on cutting asset purchases beyond saying it could be "this year". This dovish tone caused U.S. benchmark Treasury yields and the dollar to slip on Friday, with both trends extending into Monday trading in Asia. The yield on benchmark 10-year Treasury notes was 1.3071% down from last week's high of 1.375%, but little changed from last week's close. The dollar index which measures the greenback against a basket of currencies was fairly steady at a two-week low, having fallen 0.4% after Powell's remarks. "There's a general sense of a bit of a consolidation after Friday's news," said Rodrigo Catril, senior FX strategist at National Bank of Australia. "The dollar is technically underperforming on the day, but there's a lot of data coming out this week from China and the U.S. with nonfarm payrolls on Friday." Powell has suggested an improvement in the labour market is one major remaining prerequisite for action, hence a particular focus on Friday's jobs figures. Investors in China, in contrast, are watching data this week to see whether they indicate policymakers are more likely to step up easing measures. Oil was also in focus after energy firms suspended 1.74 million barrels per day of oil production in the U.S. Gulf of Mexico as Hurricane Ida slammed into the Louisiana coast as a Category 4 storm. Prices initially rose on Monday morning, but U.S. crude later gave up those gains, falling 0.31% to $68.52 a barrel. Brent crude pared gains and was last up 0.14% at $72.80 per barrel. [O/R] Gold was steady, with the spot price at $1,816.2 per ounce, down 0.1%, having touched its highest in three weeks earlier in the session. [GOL/]

四级飓风登陆美国 墨西哥湾炼油厂全部关闭！ 当地时间 8 月 29 日，飓风 “艾达”（Ida）在美国路易斯安那州登陆。此次飓风将达到4级，可导致严重的洪水和电力中断，石油产能也将受到威胁。 路易斯安那州州长称，Ida 或将是 170 年来当地最强飓风之一。16 年前的同一天，飓风 “卡特里娜” 登陆了路易斯安那，造成至少 1800 多人死亡和 1250 亿美元损失。 Ida 此前以每小时 160 英里的最高风速接近墨西哥海岸，风速仍在持续增强，美国国家飓风中心预计此次飓风将达到 4 级，届时每小时风速将高达 225 公里，成为极度危险的强大飓风。 由于市场担心飓风“艾达”在美国路易斯安那州肆虐时将破坏炼油厂，美国汽油期货也接着跳涨。10 月汽油期货价格一度涨 4.4%。

L'uragano Ida sulle prime quotazioni del petrolio.

@brendan - thinking is a good ida $PLTR

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