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 closed sharply higher on Wednesday after a quiet session amid a strong set of corporate earnings, as markets continued to assess risks to European corporate earnings amid U.S. trade headwinds and the prospect of higher defense-focused government spending. The STOXX 50 jumped 1.5% to 5,530, 5 points from a record, and the STOXX 600 gained 1.6% to a fresh record of 560. AB InBev jumped 8.7% after reporting stronger-than-expected fourth-quarter earnings, and Munich RE jumped 4.8% after beating earnings estimates and raising its dividend payout. Additionally, Siemens and...
The S&P 500 added 0.2% and the Nasdaq was up 0.4% on Wednesday, rebounding after 4 consecutive session of losses, while the Dow Jones traded around the flatline. Consumer discretionary and tech were the top performing sectors while health and consumer staples underperformed. Traders are eagerly awaiting Nvidia's earnings report, due after the closing bell, particularly for any insights into the potential impact of the DeepSeek emergence. Nvidia shares were up approximately 2.5%. In addition, Lowe's Companies surged more than 1.7% after reporting a 0.2% increase in same-store sales,...
The STOXX 50 rose 0.6% and the STOXX 600 gained 0.5% on Wednesday, rebounding from a lackluster session the previous day. Investors focused on corporate earnings and monitored a minerals deal between Ukraine and the US aimed at developing Ukraine's natural resources, an agreement that could help ease recent tensions between the two countries. Mining companies led the gains, supported by a rise in copper prices after US President Donald Trump signaled potential import tariffs on the metal. The food and beverages sector also advanced. On the earnings front, Anheuser-Busch InBev surged over 7%...
The Hang Seng surged 754 points, or 3.3%, to close at a more than three-year high of 23,788 on Wednesday, rebounding sharply from the previous session's decline. The rally came as investors reacted positively to Hong Kong's 2024-25 budget, in which Financial Secretary Paul Chan unveiled plans to curb public spending and raise revenue to narrow the fiscal deficit. Meanwhile, payroll taxes and corporate profits taxes will be completely waived, with certain restrictions. Sentiment was further boosted by reports that Chinese lawmakers are reviewing a draft law introducing new safeguards against...
Asia-Pacific markets traded mixed Wednesday, tracking declines in two key Wall Street benchmarks overnight after the U.S. consumer confidence survey came in much weaker than economists' estimates. Japan's benchmark Nikkei 225 and Topix were in negative territory for the second consecutive day. The Nikkei 225 fell 1.09%, while the broader Topix index was down 0.99% South Korea's Kospi rose 0.11% while the small-cap Kosdaq advanced 0.52%. Mainland China's CSI300 index started the day 0.16% higher. Hong Kong's Hang Seng index climbed 1.71% at the open. The Asian financial hub's annual...
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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