Stocks ease in jittery trading; Harris-Trump debate up next
Stocks dip as economic worries simmer
Oil, copper under pressure after soft China data
Dollar steady ahead of Wall St open
Updates prices at 1140 GMT
By Amanda Cooper
LONDON, Sept 10 (Reuters) -Global shares dipped on Tuesday, struggling to draw momentum from a rally on Wall Street as concerns about faltering economic growth dampened investor sentiment, which also weighed on oil.
Data from China showed exports grew at their fastest since March 2023 in August, suggesting manufacturers were rushing out orders ahead of tariffs expected from a number of trade partners, while imports missed forecasts amid weak domestic demand.
That followed Monday's inflation figures that pointed to still-fragile domestic demand as producer price deflation worsened, keeping alive calls for further stimulus from Beijing to shore up its economy.
This took a chunk out of Asian shares, as well as commodities such as copper and crude.
Across the broader equity market, MSCI's All-World index .MIWD00000PUS was flat, reflecting modest gains in Europe, where the STOXX 600 .STOXX fell 0.3% and as U.S. stock futures tilted into negative territory.
Investors are anticipating a series of rapid interest rate cuts from the Federal Reserve in the coming months, after last week's U.S. jobs report painted a picture of a labour market that was slowing.
"Markets are now on hard-landing alert essentially and we've seen a return to 'good news is good news'," Investec chief economist Philip Shaw said.
Stocks had traded at record highs just two weeks ago, as expectations built for the Fed to deliver some fresh stimulus to the economy by cutting borrowing costs.
But with the all-important labour market slowing, activity across the manufacturing sector in contraction and inflation subsiding, the mood has shifted.
Futures show traders are banking on U.S. rates dropping by a full percentage point by the end of the year, with a near-30% chance of a half-point cut coming as early as next week, according to CME's Fedwatch tool FEDWATCH.
Wall Street had staged an impressive rebound in the previous session, after all three major U.S. stock indexes surged more than 1%, recovering from last week's selloff.
Later on Tuesday, Democrat Kamala Harris and Republican Donald Trump will debate for the first time ahead of the presidential election on Nov. 5, with the two locked in a tight race.
THE CASE FOR CUTS
Investors now turn their attention to Wednesday's U.S. inflation report, which could provide more clarity on whether the Federal Reserve would deliver an outsized 50-basis-point cut when it meets next week.
"(Inflation) numbers have been pretty critical over past few months, but it is arguably less this time around. Markets have it firmly established in their minds that price pressures are easing back. What matters more are the projected trends in U.S. economy and the extent to which activity holds up or slows down," Investec's Shaw said.
Expectations are for headline inflation in the United States to have slowed to an annual rate of 2.6% in August, compared with July's 2.9%.
"If the inflation number is any different, or significantly different from expectations, then the number of rate cuts (priced in) will be changed," Jun Bei Liu, a portfolio manager at Tribeca Investment Partners, said.
"At the moment, I think the market is reasonably aggressive in pricing quite a lot this side of the year, and so that probably opens up for a bit more ... volatility that we have seen in the last couple of weeks."
Oil LCOc1, which has lost nearly 20% in the last two months alone, driven by concern about global energy demand, was down another 1% at $71.13 a barrel.
Copper futures CMCU3 fell 0.2% to $9,076 a tonne, while iron ore futures SZZFc1 dropped 0.5% to $91.30 a tonne, after data showed a drop in Chinese imports.
In currencies, the U.S. dollar surrendered earlier gains against the yen to fall 0.1% to 143.03 JPY=EBS. The euro EUR=EBS was flat at $1.10323, while sterling GBP=D3 rose 0.2% to $1.3095. Data earlier showed UK wage growth cooled in the three months to July but remained above 5%.
World FX rates YTD http://tmsnrt.rs/2egbfVh
Global asset performance http://tmsnrt.rs/2yaDPgn
Asian stock markets https://tmsnrt.rs/2zpUAr4
Additional reporting by Rae Wee in Singapore; Editing by Lincoln Feast, Sam Holmes, Alex Richardson and Alison Williams
To read Reuters Markets and Finance news, click on https://www.reuters.com/finance/markets For the state of play of Asian stock markets please click on: 0#.INDEXA
면책조항: XM Group 회사는 체결 전용 서비스와 온라인 거래 플랫폼에 대한 접근을 제공하여, 개인이 웹사이트에서 또는 웹사이트를 통해 이용 가능한 콘텐츠를 보거나 사용할 수 있도록 허용합니다. 이에 대해 변경하거나 확장할 의도는 없습니다. 이러한 접근 및 사용에는 다음 사항이 항상 적용됩니다: (i) 이용 약관, (ii) 위험 경고, (iii) 완전 면책조항. 따라서, 이러한 콘텐츠는 일반적인 정보에 불과합니다. 특히, 온라인 거래 플랫폼의 콘텐츠는 금융 시장에서의 거래에 대한 권유나 제안이 아닙니다. 금융 시장에서의 거래는 자본에 상당한 위험을 수반합니다.
온라인 거래 플랫폼에 공개된 모든 자료는 교육/정보 목적으로만 제공되며, 금융, 투자세 또는 거래 조언 및 권고, 거래 가격 기록, 금융 상품 또는 원치 않는 금융 프로모션의 거래 제안 또는 권유를 포함하지 않으며, 포함해서도 안됩니다.
이 웹사이트에 포함된 모든 의견, 뉴스, 리서치, 분석, 가격, 기타 정보 또는 제3자 사이트에 대한 링크와 같이 XM이 준비하는 콘텐츠 뿐만 아니라, 제3자 콘텐츠는 일반 시장 논평으로서 "현재" 기준으로 제공되며, 투자 조언으로 여겨지지 않습니다. 모든 콘텐츠가 투자 리서치로 해석되는 경우, 투자 리서치의 독립성을 촉진하기 위해 고안된 법적 요건에 따라 콘텐츠가 의도되지 않았으며, 준비되지 않았다는 점을 인지하고 동의해야 합니다. 따라서, 관련 법률 및 규정에 따른 마케팅 커뮤니케이션이라고 간주됩니다. 여기에서 접근할 수 있는 앞서 언급한 정보에 대한 비독립 투자 리서치 및 위험 경고 알림을 읽고, 이해하시기 바랍니다.