. SYDNEY MORNING HERALD (AUSTRALIA)
ASX falls more than expected, China posts sluggish GDP growth
The ASX fell 1.4 per cent in early trade, following broad losses on Wall Street following weak earnings and a warning from JPMorgan Chase.
. RTT NEWS (US)
Asian markets trade mixed
Asian stock markets are trading mixed on Friday, following the mixed cues from Wall Street overnight, as fears about a recession due to aggressive monetary tightening by central banks to rein in inflation rendered the mood bearish
. CNBC (US)
European markets open higher after China’s economic growth slumps
European stocks opened higher on Friday after a fresh wave of global interest rate hikes exacerbated fears about the outlook for economic growth.
. REUTERS (UK)
Oil rises on prospects of less aggressive U.S. rate hike
Oil prices rose on Friday amid prospects of a less aggressive U.S. rate hike, although worries about a recovery in demand capped gains.
Gold set for fifth weekly loss on dollar surge, rate-hike fears
Gold inched higher on Friday, as the dollar rally eased, although the greenback’s remarkable performance overall and fears of aggressive U.S. interest rate hikes weighed on demand for bullion and set prices for a fifth straight weekly loss.
. WALL STREET JOURNAL (US)
JPMorgan Sees Uncertainty but Few Signs of Recession
Second-quarter profit at JPMorgan fell 28% even as the nation’s largest bank said it is seeing few signs a recession is imminent, underscoring the uncertainty looming over markets and the economy.
. FINANCIAL TIMES (UK)
Investment banking slowdown sparks fears of Wall Street belt-tightening
Some firms are dragging their feet on recruitment and telegraphing lower pay