WORLD MARKETS

World Markets Daily News – In Brief – Thursday 25/08/2022

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. THE SYDNEY MORNING HERALD (AUSTRALIA)

ASX extends gains as Qantas, IDP and Pendal shine

The Australian sharemarket has started the session on the front foot, as investors await the next steer on interest rates from US Fed Chair Jerome Powell.

. RTT NEWS (US)

Asian markets track wall street higher

Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from Wall Street overnight, as

. CNBC (US)

European markets set for cautious gains ahead of Jackson Hole

European markets are set to open slightly higher on Thursday as global investors await the start of the U.S. Federal Reserve’s Jackson Hole economic symposium.

. REUTERS (UK)

Oil prices rise on possible OPEC supply cuts

Oil prices rose in early Asian trade on Thursday after Saudi Arabia suggested the Organization of the Petroleum Exporting Countries could consider cutting output

Gold inches higher as dollar softens ahead of Powell speech

Gold prices edged higher on Thursday as the dollar slipped, while investors looked forward to a speech by U.S. Federal Reserve Chair Jerome Powell at the Jackson Hole symposium for clues on interest rate hikes and the health of the economy.

. THE FINANCIAL TIMES (UK)

UK faces ‘cost of doing business’ crisis as energy bills rise fourfold

Companies warn time running out as electricity and gas contracts come up for renewal in October

. THE WALL STREET JOURNAL (US)

Big Oil to Investors: You’re Too Pessimistic

Despite the recent rally, crude prices are down for August, and data suggests investors have reduced their involvement in oil and other commodity markets