Asian markets fell as investors assessed inflation in Japan. Adani shares soar

Shares of Indian multinational holding company Adani Enterprises rose 7.21% earlier on Friday, sending India’s Nifty 50 index higher, after Economic Times report He said that UAE state energy company Abu Dhabi National Energy – also known as Taqa – is evaluating “significant exposure” in the Indian energy business via Adani.

The Economic Times said that the Emirati company is keen to employ between 1.5 and 2.5 billion dollars in the companies of the Adani Group or in one entity, citing “people familiar with the matter.”

Neither TAQA nor Adani Projects immediately responded to CNBC’s requests for comment.

Adani Enterprises’ gains have since fallen close to 3%.

Adani subsidiaries Adani Green Energy and Adani Power reached highs near 9.66% and 10.88% earlier in the day.

Shares of Adani Energy Solutions rose as much as 8.18% on Friday.

– Lim Hwi Ji

Chinese real estate giant Evergrande Group filed for Chapter 15 bankruptcy protection in a US court late Thursday.

The real estate developer cited restructuring proceedings in Hong Kong, the Cayman Islands and the British Virgin Islands in a filing with the Manhattan court.

In July, Evergrande posted a combined loss of $81 billion over the past two years, after struggling to complete projects and pay off its suppliers and lenders.

The news comes amid contagion fears that problems in China’s ailing real estate sector could spill over into other parts of the economy, even as growth stalls.

Read the full story here.

– Sumathi Bala

Japan’s core inflation rate for July fell to 3.1% from June’s figure of 3.3%, in line with expectations of economists polled by Reuters.

Core inflation in Japan excludes fresh food prices.

general inflation rate For July it came in at 3.3%, unchanged from the June number.

The “core” measure of inflation, which excludes fresh food and energy prices and is used by the Bank of Japan for monetary policy considerations, came in at 4.2%, down from 4.3% in June.

– Lim Hwi Ji

Investors are almost at a loss to choose between the safety of bonds and the potential upside from stocks.

On the other hand, the US economy is showing signs of healthy growth, and some analysts expect stocks to continue to rise. Meanwhile, US government bonds offer more than 5% in risk-free returns.

Renowned value investor Guy Speer weighed in on CNBC’s Pro Talks about whether it’s a better idea to invest in an S&P 500 index fund, US Treasury bonds, or Berkshire Hathaway stock for the long term.

CNBC Pro subscribers can read his response here.

– Ganesh Rao

Few CME rate traders say the Fed will raise rates again in September (13.5% now versus 11% last week), but a growing group of central bank policymakers may go for another quarter point – to 5.50% -5.75% – in any of November. First meeting or at the last meeting of the year in December. 13.

The odds increase another quarter point in November. The first FOMC meeting is up to 33.3% now from 27.8% last week, and 31.1% by the time of the December meeting versus 24.7% last week and just 20.9% one month ago.

Investors can forget about the chances of a rate cut by the end of the year, According to the CME Fed Tracker. The chance of a quarter-point cut in the overnight federal funds rate by December was only 16.5% a month earlier. Today the odds are 8.1%.

– Scott Schneiber

August has been a tough month for stocks so far.

For those looking for stocks that have fallen this month but still have upside potential, CNBC Pro checked out the S&P 500 and the former Vanguard FTSE All-World Index of the United States.

The resulting stock fell into negative territory in August, but has an average upside price target of at least 30%, and Buy ratings from at least half of the analysts.

CNBC Pro subscribers can read more here.

– Wizen tan

Natural gas rose nearly 2.8% on Thursday, but is still heading for its worst week since July. So far this week, it’s down 4% as of Thursday, or its worst week since July 7 when natural gas lost 7.72%.

Meanwhile, the natural gas (FCG) ETF rose 2% on Thursday. It was led by gains in Chesapeake, which rose 5.9% after S&P said it would join the S&P 400 Midcaps before opening trading on Monday.

– Gina Francola, Sarah Maine

Cryptocurrencies took a hit on Thursday as investors grappled with renewed concerns about the US economy.

Bitcoin was last down about 2% at $28,506.00, according to coin metrics. The slide started after the release of the minutes of the Federal Reserve’s monetary policy meeting in July. Bitcoin fell late Wednesday to $28,335.42, its lowest since late June.

Bitcoin’s correlation with stocks is at a two-year low, according to the currency’s metrics. In 2022, it reached an all-time high as a result of the Fed’s rate hike campaign to tame inflation.

For more, read the full story here

– Tanaya Machel

The 10-year US Treasury yield rose to its highest level since October 2022. It reached a high of 4.312%. This was the highest level since October. On Dec. 21, 2022 when 10 years has yielded up to 4.337%, according to Tradeweb.

Meanwhile, the dollar index hit a session low after dropping to 103,067. This comes after it hit a high of 103,598, or the highest level since June 13 when the index reached a high of 103,624.

– Gina Francola, Sarah Maine