Russia warned Europe in a meeting of energy chiefs that it risks having natural-gas supplies siphoned off by Ukraine this winter if the former Soviet country can’t resolve a payment dispute with its neighbor. The European Union depends on supplies via Ukraine for about 15 percent of its demand. The gauge tumbled 9.3 percent from an almost six-year high on June 19 through Aug. 8 as the U.S. and the EU imposed sanctions on Russia , and the nation responded with bans on agricultural imports from those regions.
Stocks End Strong August With Modest Gains – Yahoo Finance
also entered a technical correction on valuation fears.
Opportunities in EM stocks: CFO
Baris Oran, head of finance at Sabanci, says that while valuations of developed market stocks are high, there are still opportunities in emerging market equities.
Tax code change Aside from concerns in the equity markets, the finance execs from the CNBC CFO Global Council also called on the U.S. government to reform the current tax code. The debate over so-called tax inversion rules came to a head this summer with President Barack Obama pressing for the closure of loopholes that allow U.S. companies to pen cross-border deals.
Most Asian Stocks Advance as Investors Weigh China PMI – Bloomberg
Any reading above 50 indicates economic expansion. On the day the Dow gained 0.1%, the S&P 500 rose 0.3%, and the Nasdaq added 0.5%. Stocks on the Move Apple (AAPL) reached a 52-week high in anticipation of the upcoming release of the iPhone 6. The tech giant’s shares added 0.2%, ending at a split-adjusted $102.50. Best stock to purchase
Stocks Are Higher Ahead Of The Long Weekend – Yahoo Finance
Australia s S&P/ASX 200 Index added 0.1 percent. Japan s Topix index gained 0.4 percent. New Zealands NZX 50 Index lost 0.2 percent. South Koreas Kospi index was little changed.
Finance execs split on upcoming stock ‘correction’
“Core” PCE, which excludes the more volatiles costs of food and energy, rose 1.5% year-over-year in July. The August Chicago PMI report came in at 64.3, blowing away expectations for a 56.5 reading, and up from July’s disappointing 52.6. This rebound erased the sharp decline in July, but Ian Shepherdson at Pantheon Macroeconomics said of the report, “The index is not, however, a reliable short-term indicator of the overall state of manufacturing across the country as a whole.” The University of Michigan’s consumer confidence survey jumped to a seven-year high of 82.5 in August, topping expectations for a reading of 80.0. “Overall, consumer confidence remains in the relatively tight range it has occupied this year and is consistent with continued moderate growth in consumer spending,” said Dean Maki at Barclays. The Russian ruble continued to slide against the dollar, with one U.S. dollar buying around 37 rubles, up from 34 in June, bringing the ruble’s decline in the last few months to around 8%.