August Daily Review - 10/08

1) Wall Street opened higher on Monday, with the Dow looking to break a seven-day losing streak, after Warren Buffett's Berkshire Hathaway's $37.2 billion to buy Precision Castparts showed the M&A boom was alive and well. Adding to the positive sentiment, poor data out of China boosted hopes for additional stimulus from Beijing. Greek banks could get a first capital injection soon after a bailout deal is agreed, and before the ECB can conduct stress tests, a euro zone official told Reuters. (According to Reuters)

 

2) The euro was almost unchanged against the broadly stronger dollar in quiet trade on Monday, as expectations for higher U.S. interest rates continued to underpin demand for the greenback.

EUR/USD was last at 1.0964, little changed for the day. (According to Investing.com)

 

3) U.S. natural gas prices edged higher on Monday, as extreme heat spread across the southern half of the U.S., boosting demand expectations for the fuel.

Natural gas for delivery in September on the New York Mercantile Exchange jumped 4.3 cents, or 1.52%, to trade at $2.841 per million British thermal units during U.S. morning hours. (According to Investing.com)

 

4) ATHENS - Greece and international creditors sought to put final touches on a multi-billion euro bailout accord on Monday to keep the country financially afloat and meet an important debt repayment to the European Central Bank within days.

Greek ministers and representatives of European institutions and the International Monetary Fund resumed talks on Monday morning after a marathon session that ended in the pre-dawn hours. (According to Reuters).

 

 

 

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