Weekend News Round Up - Newsquawk Asia-Pac Market Open

US stocks eked marginal gains on Friday with the upside capped after mixed data releases and amid the ongoing geopolitical uncertainty, while participants also reflected on cautious rhetoric on the economy from Fed's Goolsbee.
Fed’s Daly (voter) said recent data gave her more confidence that inflation is under control and it is time to consider adjusting rates from their current level, while she noted the Fed needs to take a gradual approach to reducing borrowing costs, according to FT.
Looking ahead, highlights include New Zealand Performance of Services Index, Japanese Machinery Orders, Thailand GDP, Malaysian Trade Data.

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Highlights include New Zealand Performance of Services Index, Japanese Machinery Orders, Thailand GDP, Malaysian Trade Data.
Click for the Newsquawk Week Ahead.

US TRADE

US stocks eked marginal gains on Friday with the upside capped after mixed data releases and amid the ongoing geopolitical uncertainty, while participants also reflected on cautious rhetoric on the economy from Fed's Goolsbee.
SPX +0.20% at 5,554, NDX +0.09% at 19,508, DJIA +0.24% at 40,659, RUT +0.27% at 2,141.
Click here for a detailed summary.

NOTABLE HEADLINES

Fed’s Daly (voter) said recent data gave her more confidence that inflation is under control and it is time to consider adjusting rates from their current level, while she noted the Fed needs to take a gradual approach to reducing borrowing costs, according to FT.
Fed's Goolsbee (non-voter) said on Friday that he has concerns for 2024 and that they have crosscurrents. Goolsbee added he is concerned that the Fed set this level of rates over a year ago and inflation and the labour market are cooling faster than expected, while he thinks the Fed should take a step back and think about it.

Norway’s Equinor said production at Gullfaks C Platform in the North Sea is shut and it evacuated some workers from the platform as a precaution following a well incident, while it is unclear when production will restart but output at other Gullfaks platforms are running as normal.
Algeria is to immediately supply Lebanon with fuel to operate electric power stations and return electricity to the country, according to Algerian state radio cited by Reuters.
Iran said it is ready to tranship Russian gas through its territory, according to TASS.
BHP Escondida workers union said it could relaunch a strike if the Co. does not rectify its position over contract talks as soon as possible.

MIDDLE EAST

Israeli military said it conducted an airstrike in Lebanon’s Nabatieh which targeted a Hezbollah depot, while it was also reported that 10 people were killed in an Israeli strike on central Gaza’s Zawaida.
Israeli PM Netanyahu’s office said the Israeli negotiating team expressed cautious optimism in advancing a Gaza hostage deal. PM Netanyahu's office also said Israel is in complex negotiations and there are things it can and cannot be flexible about, according to Reuters.
Hamas on Sunday rejected an updated US proposal for a ceasefire and hostage deal in Gaza and blamed Israeli PM Netanyahu for moving the goalposts and the US for indulging him, according to Axios.
Hamas said the new ceasefire proposal presented by the US at talks in Doha responds to Israeli PM Netanyahu’s rejection of a permanent ceasefire and complete withdrawal from Gaza, while it added that the proposal placed new conditions in the issue of a hostages exchange and retracted other issues hindering a deal, according to Reuters.
US Secretary of State Blinken arrived in Israel to renew the push for a Gaza ceasefire.

OTHER

IAEA said nuclear safety at Ukraine’s Zaporizhzhia nuclear power plant is deteriorating following a drone strike that hit the road around the plant site perimeter, while it stated there were no casualties and no impact to equipment, but there was an impact to the road between the two main gates of the plant.
Russia captured the village of Svyrydonivka in Ukraine’s Donetsk, according to TASS.
Belarusian President Lukashenko said troops were deployed along the entire border with Ukraine, according to RIA.
North Korea condemned Ukraine’s attack against Russian territory as an act of terror and invasion backed by the US and the West. North Korea said the anti-Russia policy of the US is driving the global security environment to the brink of World War 3, while North Korea will stand with Russia as it seeks to protect its sovereignty and realise international justice, according to KCNA.
US, South Korean and Japanese leaders pledged to consult on regional challenges, provocations and threats, while they said they are resolved to maintain peace and stability in the Indo-Pacific.

NOTABLE HEADLINES

China’s Vice Premier is to co-chair a regular meeting between Chinese and Russian leaders with Russia’s Deputy PM on August 19th-20th, according to Chinese state media.
Singaporean PM Wong warned that increasing tensions between the US and China will have an impact on Singapore’s economy and the broader region, according to FT.