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...
Stocks dropped to kick off February after President Donald Trump hit several key U.S. trading partners with tariffs, raising fears that a full-blown trade war would disrupt global supply chains, reignite inflation and slow the economy. The Dow Jones Industrial Average traded more 458 points lower, or 1.1%. The S&P 500 shed 1.5%, and the Nasdaq Composite slid 1.8%. The impact from the new tariffs ricocheted around the globe in a risk-off move. President Donald Trump on Saturday slapped a 25% tariff on goods from Mexico and Canada. He also placed a 10% levy on imports from China. Energy...
Shares in some of Europe's biggest carmakers plunged on Monday after U.S. President Donald Trump imposed new tariffs of 25% on goods from Mexico and Canada and 10% on imports from China, raising concerns about possible duties on EU imports as well. Volkswagen (ETR:VOWG_p) and Stellantis (NYSE:STLA), which have major operations in Mexico and are particularly vulnerable to tariffs, both fell about 6%, the biggest decliners among their peers. Volvo (OTC:VLVLY) Cars, Mercedes Benz (ETR:MBGn), BMW (ETR:BMWG) and Porsche were all down between 3.4% and 5.2% by 0843 GMT. French auto parts...
The Hang Seng ended nearly flat at 20,217 on the first trading day of February, steadying after a sharp loss in morning deals as gains in the technology and consumer discretionary sectors nearly offset losses in the property and financial sectors. Traders digested a Wall Street Journal report that Beijing is seeking to avoid tariff hikes and technology restrictions from the Trump administration. Meanwhile, China's Commerce Ministry is preparing to file a complaint with the WTO. Although private survey data showed the weakest factory activity growth in four months for China through early...
Japanese stocks fell after the close on Monday (2/3), as losses in the Precision Instruments, Real Estate and Food sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 2.69%. The best performers on the Nikkei 225 were Sumitomo Dainippon Pharma Co Ltd (TYO:4506), which rose 16.39% or 100.00 points to trade at 710.00 at the close. Meanwhile, Konami Corp. (TYO:9766) gained 14.14% or 2,025.00 points to close at 16,345.00 and Alps Electric Co., Ltd. (TYO:6770) gained 5.04% or 78.50 points to 1,637.50 in late trade. The worst performers on the session were NH Foods Ltd...
Shares in Hong Kong plunged 266 points or 1.3% to 19,959 in early trading at the start of the new month, reversing gains from the prior three sessions as trading resumed after the Lunar New Year holidays amid widespread sector losses. Investors responded to Donald Trump's extensive tariffs on several nations over the weekend, including China. Meanwhile, Beijing announced plans to challenge Trump's move at the WTO and roll out other countermeasures, intensifying fears of a trade dispute between the two countries. Source: Trading Economics
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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