Market Bizzz

We have one big weapon and that is credibility,” Barkin said in comments to the Danville Pittsylvania County Chamber of Commerce. “There is nothing magic about 2 except that when you set that as a target you probably want to achieve it

Reuters reported late on Monday that South Korea’s Star Group Industrial, which supplies magnets to VinFast and Korea’s Hyundai Motor, is investing $80 million in a new factory in Vietnam, with production starting in 2024.

Tesla sparked a price war earlier this year and last week slashed prices of three models in China. It also launched a cheaper version of the Model S sedan and Model X SUV on Aug. 14 as it looks to stoke demand and grab a larger share of the market.

Treasuries have been sold off in the past few weeks after strong retail sales and other data underscored the resilience of the U.S. economy. That along with easing inflation has put a lid on fears of a looming recession.

In a long-awaited regulatory filing Monday, Arm said the offering is being led by Barclays Plc, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Mizuho Financial Group Inc. The document listed 24 other underwriters below that top tier — with Morgan Stanley notably absent.

Disappointment at the meagre move saw Chinese blue chips ease 0.3%, while the Australian dollar took a dip as a liquid proxy for China risk. Investors have been hoping for a repeat of the massive fiscal spending that has juiced the economy in the past, but Beijing seems reluctant to add to its borrowing tasks.

The Fed is likely done raising interest rates, according to a strong majority of economists polled by Reuters, and a slight majority now expect the central bank to wait at least through end-March before cutting them.