OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. World oil demand will rise by 1.38 million barrels per day in 2026, the Organization of the Petroleum Exporting Countries said in a monthly report, up 100,000 bpd from the previous forecast. This year's expectation was left unchanged. Oil supply from countries outside the Declaration of Cooperation - the formal name for OPEC+ - will rise by about 630,000 barrels per...
Asian stocks traded in a narrow range at Thursday's open, easing after three days of gains driven by bets on a Federal Reserve interest rate cut next month. The MSCI Asia Pacific Index fell 0.2% as stocks in Japan retreated 1%. The yen gained 0.4% against the dollar. US Treasury Secretary Scott Bessent said the Bank of Japan is falling behind the curve in addressing inflation and expected the central bank to hike rates. Chinese equities will be in focus after the Nasdaq Golden Dragon China Index rose for a second session, helped by earnings...
Stocks in the US closed higher on Wednesday, extending their recent momentum as growing expectations for a Federal Reserve rate cut in September continued to lift sentiment. The S&P 500 gained 0.3% and the Nasdaq added 0.1%, with both indexes briefly hitting record highs, while the Dow Jones advanced 463 points. The rally built on Tuesday's surge, sparked by a softer-than-expected inflation reading that reinforced bets on monetary easing, with traders fully pricing in a September cut and some anticipating a 50 basis-point move. Sector gains were led by materials, healthcare, and...
European stocks closed sharply higher on Wednesday, their highest in two weeks as the outlook of lower interest rates in the United States and the possibility of lower energy prices supported a backdrop of stronger growth in the bloc. The STOXX 50 gained 1% to 5,390 and the STOXX 600 jumped 0.6% to 551. The heavyweight sectors of banks, luxury, and tech were among the largest gainers of the session with Intesa Sanpaolo, LVMH, Kering, SAP, and Prosus jumping between 4% and 1.5%. Healthcare also closed sharply higher following their volatile momentum in the first half of the month, with...
Stocks rose Wednesday, adding to their recent momentum as expectations for lower U.S. Federal Reserve rates continue driving the major indexes to all-time highs. The S&P 500 and Nasdaq Composite advanced 0.4% and 0.5%, respectively, reaching fresh record highs. The Dow Jones Industrial Average gained 1250 points, or 0.6%. AMD popped more than 5% to lead gains in tech. Apple also advanced about 1%, along with Oracle. Those moves followed a record-setting session Tuesday sparked by a tamer-than-expected inflation report that gave investors hope of a Fed rate cut in September. Traders...
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating.
In...