Global markets-Shares, oil slip awaiting US details of Iran sanctions

The Hong Kong-listed shares of Alibaba 9988.HK slid 9.5% after the Chinese e-commerce and cloud computing company launched a $10.2 billion share offer and investors worried about payback from its massive AI spending. Samsung Electronics 005930.KS fell over 8% after a record $79 billion shareholder-return plan disappointed investors who had expected a larger share of AI-fueled cash windfalls. In Europe, EURO STOXX 50 futures STXEc1 and DAX futures FDXc1 eased 0.1%, while FTSE futures FFIc1 were flat. On Wall Street, S&P 500 futures ESc1 fell 0.1% and Nasdaq futures NQc1 lost 0.4%. In currency markets, the dollar added 0.2% against its Canadian counterpart to 1.3790 CAD= after Prime Minister Mark Carney said his country would respond to U.S. tariffs with levies of its own as trade talks broke down. Canada will impose tariffs on U.S. steel, dairy, appliances, agricultural equipment, pulp and paper and electronics, along with some products that the U.S. previously targeted in Canada. The dollar was on the defensive elsewhere after having lost 0.8% last week against a basket of currencies at 96.832 =USD. The euro held at $1.1680 EUR=EBS after rising 0.9% last week, while the dollar was flat at 158.92 yen JPY=EBS. The dollar has been undermined as investors fret that growing U.S. debt and policy uncertainties will erode the purchasing power of the currency, driving demand for scarcer assets including gold. The yellow metal firmed another 0.8% to $4,653 an ounce XAU=, having climbed 15% for the month so far. If it holds this gain for all of August, it would be the biggest monthly rise on record. GOL/ Market participants will also be hoping for some clarity on the outlook for U.S. interest rates when Federal Reserve Chair Kevin Warsh speaks in Jackson Hole, Wyoming, on Friday, though his well-known aversion to forward guidance could lead to disappointment. "There are several reasons to expect to be underwhelmed," said Bruce Kasman, chief economist at JPMorgan, noting that past chairs have not wanted to front-run Fed decisions at the event. "Warsh will rather likely focus on aspects of his 'regime change' agenda," Kasman added. "As the Fed has already been moving toward shrinking the balance sheet, and the committee gave the balance sheet some attention in the July minutes, that might be the most likely topic for him to expound upon." Markets imply around a 40% chance that the Fed will raise interest rates when it meets on September 16 and are fully priced for a move by December. 0#USDIRPR The odds could change depending on what U.S. inflation figures show this week, with median forecasts for core inflation expected to hold at 3.3% in July. Warsh is sure to face questions about Treasury Secretary Scott Bessent's surprise announcement last week of at least a doubling in bond buybacks, aimed at restraining a rise in yields that was tightening financial conditions in the economy. His efforts have had little success so far, with 30-year yields at 5.2518% US30YT=RR, not far from the recent 19-year peak of 5.3371%. Higher yields make debt more attractive compared to equities while lifting the discount applied to future earnings, highlighting the stretched nature of some valuations. Bessent is due to hold a news conference later on Monday to outline sanctions on Iran, which has shown no sign of relinquishing its control over the vital Strait of Hormuz. Brent slipped 1.4% to $93.07 LCOc1 ahead of the announcement, though that followed gains of 6.6% last week. U.S. crude CLc1 eased 1.6% to $85.64 a barrel. O/R Equity markets were mostly lower, with the Nikkei .N225 off 0.5%, having fallen almost 4% last week. Tech-heavy South Korean shares .KS11 slid 2.8%, while Taiwan .TWII lost 0.5% with so much riding on Nvidia. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS eased 1.3%, while Chinese blue chips .CSI300 fell 1.2%. Share markets slipped in Asia on Monday and oil prices eased as investors awaited details of threatened U.S. sanctions on Iran due later in the session, while the Canadian dollar dipped as a trade war loomed with its southern neighbour. The entire tech sector was on edge for Nvidia's NVDA.O results on Wednesday; investors are aware how hard it will be for the chipmaker to meet stratospheric expectations. Analysts are generally looking for quarterly revenue to almost double to around $92 billion, with full-year earnings guidance seen in a range of $103 billion to $105 billion.

Global markets-Shares, oil slip awaiting US details of Iran sanctions

Alibaba, Samsung and currencies move lower

Fed outlook and bond yields remain in focus

Iran sanctions and trade tensions weigh on markets

Markets slip as investors await Iran sanctions details

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