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...
The Dow Jones Industrial Average (DJIA) tested all-new record highs early Monday, clipping into the high side in early trading before the weight of the upcoming week pushed investors back into familiar territory. A handful of Magnificent Seven (Mag7) companies will be posting their latest quarterly earnings this week, adding further high-impact events to an already burgeoning data docket. Dow Jones price forecastThe Dow Jones clipped a record high in intraday trading on Monday, tapping 45,130 for the first time ever before slumping back into last week's congestion. The DJIA is now battling...
Europe's Stoxx 600 index erased earlier gains to close 0.23% lower as investors turned less positive over the details of the U.S.-EU trade deal. Autos was among the worst-performing sectors, down 1.8%, as industry bosses warned that while manufacturers have regained some certainty, they will be left facing substantially higher costs. Brewing giant Heineken dropped 8.45% after reporting lower beer sales in the first half and flagging "softening sentiment in Europe and the Americas." Oil and gas stocks meanwhile finished 1.16% higher on broader optimism over the global trade outlook, and as...
The Hang Seng rose 174 points or 0.7% to close at 25,562 on Monday, rebounding from losses in the prior session amid broad-based gains, led by financials and property stocks. Sentiment improved as the U.S. and China were set to resume trade talks in Stockholm, with reports suggesting a likely three-month extension of their tariff truce. Markets were near their highest in four years, lifted by news about the U.S.–EU trade deal, which set a 15% tariff on most EU goods, half the previously threatened rate. However, gains were capped by caution ahead of Hong Kong's June trade data due later...
Major bourses in Europe were higher on Monday, with the STOXX 50 adding 1.3% and the STOXX 600 gaining 1%, after the US and European Union reached a trade agreement over the weekend, easing transatlantic trade tensions. The deal includes a 15% tariff on European exports, half the 30% initially threatened by the US. Certain goods, such as aircraft components and specific chemicals, will be exempt from tariffs, while duties on automobiles will be reduced to a 15% rate. The agreement also includes provisions for the EU to purchase US energy and boost its investments in the country. The auto...
Japan stocks were lower after the close on Monday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 1.05%. The best performers of the session on the Nikkei 225 were Fanuc Corp. (TYO:6954), which rose 5.00% or 211.00 points to trade at 4,431.00 at the close. Meanwhile, Sharp Corp (TYO:6753) added 4.93% or 33.50 points to end at 713.50 and Taiyo Yuden Co., Ltd. (TYO:6976) was up 3.85% or 104.50 points to 2,820.00 in late trade. The worst performers of the session were Dainippon Screen Mfg. Co., Ltd....
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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