Newsquawk Daily Asia-Pac Opening News - 14th August 2026

US stocks gained with all major indices in the green and outperformance seen in tech, while the S&P 500 printed a fresh all-time high, as a cooler-than-expected US PPI added to the case for a hold at the next FOMC confab, with money markets pricing a roughly 60% chance for the FOMC to refrain from lifting rates. Nonetheless, it was a very quiet day of newsflow, with not too many market-moving headlines. Sectors were generally higher, led by Communications, Real Estate, and Technology, with Software (IGV) underpinned in response to reports that Silver Lake is in talks to buy Workday (WDAY), while Dell (DELL) and HP (HPQ) were firmer after China’s Lenovo beat Q1 revenue estimates. USD was little changed against major peers on Thursday. A softer-than-expected PPI release saw bets on a Fed hold over a hike increase in response, although the USD held up despite the move lower in US 2yr yields. Separately, weekly initial claims rose more than expected; however, current levels of around 200k remain unalarming. Meanwhile, Fed speak saw Hammack reiterate calls for rate hikes whilst Barkin remains uncertain on the future path of policy. Looking ahead, highlights include New Zealand Business NZ PMI, Malaysian GDP, Peru Central Bank Rate Decision, Comments from Fed's Goolsbee & RBA Governor Bullock, Supply from Australia & Japan. SNAPSHOT STOCKS S&P 500 +0.7% Nasdaq Comp. +0.8% DJIA +0.1% Russell 2000 +0.2% ES Sep'26 +0.7% RTY Sep'26 +0.2% NQ Sep'26 +1.2% YM Sep'26 +0.2% FX DXY Flat (99.96) EUR/USD +0.1% USD/JPY +0.1% GBP/USD Flat BONDS US T-Note Sep'26 +10.5 ticks 10yr Bund Sep'26 +26 ticks US 10yr Yield 4.65% German 10yr Yield 3.14% ENERGY & METALS WTI Sep'26 -2.5% Brent Oct'26 -2.2% Spot Gold -1.3% LME Copper Flat CRYPTO Bitcoin -0.1% Ethereum +0.5% As of 21:50BST/16:50EDT LOOKING AHEAD Highlights include New Zealand Business NZ PMI, Malaysian GDP, Peru Central Bank Rate Decision, Comments from Fed's Goolsbee & RBA Governor Bullock, Supply from Australia & Japan. Click for the Newsquawk Week Ahead. IRAN CONFLICT US War Secretary Hegseth said the US can hold the blockade for as long as needed. US is reportedly preparing to deploy the aircraft carrier USS George Washington to the Middle East to replace the USS Abraham Lincoln, according to WSJ citing US officials. US military has lost roughly 25% of its Reaper drones as the Iran war depletes the arsenal, according to Washington Post. However, it was separately reported that CENTCOM announced efforts to establish the first-ever multi-domain, multinational attack drone task force. Iranian assistant to the Supreme Leader said the most sustainable path to a new order in the region is to implement the Hormuz economic security mechanism independent of Washington's military guarantees. Iran said the Strait of Hormuz is completely closed and that maritime navigation cannot be resumed until the US meets Iran’s conditions, while Tehran-Muscat talks are ongoing and progressing positively, with progress achieved on several levels, according to Al Mayadeen. An explosion was heard in Sirik, while reports noted a missile and drone launch towards the Strait of Hormuz. Houthis targeted an Aramco refinery in Saudi Arabia's Jizan with two drones, according to Saba News Agency. Saudi Arabia was reportedly considering supporting the Yemeni army in a ground offensive to retake Red Sea coastal areas from the Houthi armed group, according to Jerusalem Post. It was later reported Saudi Arabia’s army shelled areas in northern Yemen. US TRADE US stocks gained with all major indices in the green and outperformance seen in tech, while the S&P 500 printed a fresh all-time high, as a cooler-than-expected US PPI added to the case for a hold at the next FOMC confab, with money markets pricing a roughly 60% chance for the FOMC to refrain from lifting rates. Nonetheless, it was a very quiet day of newsflow, with not too many market-moving headlines. Sectors were generally higher, led by Communications, Real Estate, and Technology, with Software (IGV) underpinned in response to reports that Silver Lake is in talks to buy Workday (WDAY), while Dell (DELL) and HP (HPQ) were firmer after China’s Lenovo beat Q1 revenue estimates. SPX +0.65% at 7,799, NDX +1.15% at 30,084, DJI +0.13% at 53,845, RUT +0.24% at 3,053. Click here for a detailed summary. TARIFFS/TRADE US President Trump posted “BIG WIN today at the U.S. Court of International Trade on one of the most DESPICABLE loopholes in American Trade Policy — The so-called “de minimis” exemption”. US White House Trade Advisor Navarro said any USMCA deal will have transhipment provisions. Indian Trade Ministry said it is actively in talks with the US on pending trade issues. NOTABLE HEADLINES NY Fed said the desk plans to conduct approximately USD 17bln in reinvestment purchases, while there are no reserve management purchases between August 14th and September 14th. DATA RECAP US PPI (Jul) M/M 0.0% vs. Exp. 0.2% (Prev. -0.3%) US PPI (Jul) Y/Y 4.7% vs. Exp. 4.9% (Prev. 5.5%) US Core PPI (Jul) M/M 0.2% vs. Exp. 0.3% (Prev. 0.4%) US Core PPI (Jul) Y/Y 4.2% vs. Exp. 4.2% (Prev. 4.7%) US Initial Jobless Claims (Aug/08) 209k vs. Exp. 202k (Prev. 200k) US Continuing Jobless Claims (Aug/01) 1777k vs. Exp. 1800k (Prev. 1799k) FX USD was little changed against major peers on Thursday. A softer-than-expected PPI release saw bets on a Fed hold over a hike increase in response, although the USD held up despite the move lower in US 2yr yields. Separately, weekly initial claims rose more than expected; however, current levels of around 200k remain unalarming. Meanwhile, Fed speak saw Hammack reiterate calls for rate hikes whilst Barkin remains uncertain on the future path of policy. EUR initially gained, but with upside capped, and the single currency ultimately returned to flat territory amid a lack of major catalysts. GBP marginally softened in choppy trade and failed to sustain a brief reclaim of the 1.3500 status despite stronger-than-expected GDP. JPY continues to hover at the 159 handle against the dollar now, while the main update was a Bloomberg report that Japanese PM Takaichi’s government is said to support a faster BoJ rate hike. Norges Bank maintained its rate at 4.25% as expected and said it may still become necessary to raise the policy rate. The committee judged that a restrictive monetary policy stance is still needed to bring inflation down to target within a reasonable time horizon, and the future path of the policy rate will depend on economic developments. Norges Bank stated that slower inflation is welcome news, but added that inflation is still too high and it is too early to conclude that the inflation outlook has changed materially. FIXED INCOME T-notes settled higher and the Treasury curve bull steepened after soft PPI raised September hold expectations. COMMODITIES Oil prices were lower in choppy trade, amid light headline newsflow and a lack of major geopolitical developments. Qatar set its September official selling price for seaborne crude at USD 5.00/bbl below the Oman/Dubai benchmark, while land crude was priced at a USD 4.50/bbl discount to the same benchmark. GEOPOLITICAL RUSSIA-UKRAINE Ukraine is said to have sent an offer to Russia for both sides to halt attacks on civilian targets in the Black Sea, while Ukraine is yet to receive a response, according to sources. Ukraine's military said it hit Russia's oil refinery in Bashkortostan, some 1,300km from the border. OTHER Russian Deputy Chairman of the Security Council Medvedev said anyone who does not understand Russian ownership of the Kuril Islands will face "dire" consequences, according to TASS, with Medvedev referencing Japanese PM Takaichi. ASIA-PAC NOTABLE HEADLINES SK Group (034730 KS) Chairman said memory chip prices went up too fast and he hopes all this buildout will help, according to CNBC. EU/UK NOTABLE HEADLINES BoE's Pill said the UK growth outlook increases the case for a rate hike and that resilient economic growth in the UK in the second quarter adds support for the BoE to raise rates to combat inflation, according to a WSJ interview. Pill said GDP data goes in the direction that they are not entering a sharp downturn, while inflation has been well above target and is expected to rise further this year as higher energy costs feed through into domestic bills. DATA RECAP UK GDP Growth Rate Prel (Q2) Q/Q 0.4% vs. Exp. 0.4% (Prev. 0.6%) UK GDP Growth Rate Prel (Q2) Y/Y 1.2% vs. Exp. 1.1% (Prev. 0.9%) UK GDP (Jun) M/M 0.3% vs. Exp. 0.0% (Prev. 0.0%) UK GDP (Jun) Y/Y 1.1% vs. Exp. 0.8% (Prev. 1.2%) UK Industrial Production (Jun) Y/Y -0.2% vs. Exp. 0.2% (Prev. 1.0%) UK Manufacturing Production (Jun) Y/Y 0.5% vs. Exp. 1.2% (Prev. 2.0%) UK Construction Output (Jun) Y/Y -2.3% vs. Exp. -2.4% (Prev. -2.0%) European Industrial Production (Jun) M/M 0.0% vs. Exp. -0.1% (Prev. 0.3%) European Industrial Production (Jun) Y/Y 0.1% vs. Exp. -0.8% (Prev. -0.1%)