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...
European stocks pared early morning gains but still closed slightly lower on Friday, ending a volatile week as markets continued to assess the impact of U.S. tariffs on the EU on the European economy. The Eurozone STOXX 50 fell 0.4% to close at 5,451, not too far from a record high hit last week, while the STOXX 600 closed just below the flatline at 557, just below Wednesday's all-time high. Technology stocks led the declines as markets weighed the cautious outlook for the U.S. tech sector and potential tariffs from Washington, with ASML and Infineon down 3-1% and 2.2% respectively. In turn,...
The S&P 500 hovered around the flatline, the Nasdaq fell about 0.6% and the Dow Jones gained nearly 90 points on Friday, with the tech sector remaining under pressure and traders digesting the latest PCE report and escalating trade tensions. Nvidia shares dropped 2%, extending the previous session's sell-off after its quarterly results failed to impress investors. Also, Broadcom was down 0.8%, Tesla fell 0.9%, and Oracle slipped 2%. Meanwhile, PCE price data aligned with expectations, with annual rates easing slightly. This provided some relief over inflationary pressures and reinforced...
European markets opened in negative territory on Friday, after U.S. President Donald Trump threatened once again to slap tariffs on the EU and followed through with new levies on Canada and Mexico. The pan-European Stoxx 600 index was 0.5% lower during early trade, with almost every sector losing ground. All major bourses saw losses, with France's CAC 40 and the German Dax both down more than 0.5%. Regional markets ended Thursday's session lower after Trump threatened to impose 25% duties on imports from the EU, saying the tariffs would be announced "very soon" and apply to "cars and...
The Hang Seng plunged 777 points, or 3.3%, to close at 22,941 on Friday, falling for a second day after the U.S. slapped 10% tariffs on Chinese imports, adding to the 10% tariffs imposed on Feb. 4 to bring the total to 20%. In response, China vowed to take all "necessary" countermeasures, further escalating tensions between the two countries. The market extended its decline from a three-year high, down 2.3% weekly, as losses hit all sectors. The tech index plunged 5.3% after Nvidia's disappointing earnings, prompting profit-taking in stocks such as Horizon Robotics (-14.0%), Sunny Optical...
Shares in Japan and South Korea closed sharply lower on Friday as US President Donald Trump's volley of tariff measures sparked fresh fears about a global trade war. Japan's Nikkei 225 closed down 2.88 percent at 37,155.50, while in Seoul the Kospi ended 3.39 percent lower at 2,532.78. The Hang Seng in Hong Kong was off 3.47 percent in afternoon trade. Source: AFP
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.
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