US Treasury Secretary Scott Bessent’s comments that maximum economic pressure on Iran could reduce the need for further large-scale military action ma…
1/6US Markets | US stocks were trading lower on Thursday as Treasury yields reversed their previous-session decline following the US Treasury Department’s announcement of increased debt buybacks. The Dow Jones Industrial Average was down 0.6%, while the S&P 500 and Nasdaq Composite were lower by 0.3% and 0.7%, respectively.
2/6US-Iran war | US Treasury Secretary Scott Bessent said on Thursday that the Trump administration’s push to intensify economic pressure on Iran could reduce the need for further large-scale US military action. “If we are doing the maximum economic pressure, then that means that likely there will not be a large-scale kinetic restart,” Bessent said in an exclusive CNBC interview with Squawk on the Street.
3/6Crude oil | Oil soared to the highest in almost a month, as Donald Trump’s threat to crush the Iranian economy further clouded the prospect of ending a war that has upended energy markets. Brent futures jumped toward $95 a barrel, extending a two-week rally to almost 20%, before paring some of the gains.
4/6US weekly jobless | The number of Americans filing new claims for unemployment benefits fell to 206,000 last week, pointing to continued stability in the US labour market despite a surprise decline in employment in July. According to Labour Department data released on Thursday (August 20), initial claims for state unemployment benefits decreased by 6,000 in the week ended August 15 from the previous week.
5/6August Flash Manufacturing & Services | On Friday, HSBC Flash Manufacturing and Services Purchasing Managers’ Index (PMI) data for August are scheduled to be released at 10:30 AM IST. The data will provide an early reading of private-sector business activity in the manufacturing and services sectors. In July, HSBC Manufacturing PMI fell to 53.5 from 54.2 in June, marking the weakest expansion since August 2021. The Services PMI declined to 53.3 from 57.4 in June, while the Composite PMI stood at 54.3, down from 57.1 in June.
6/6Global earnings | Global earnings scheduled for Friday include BJ’s Wholesale Club, Zijin Mining and China Coal, which are set to report their earnings.
