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...
Asia-Pacific markets traded lower Monday, after U.S. jobs report on Friday dampened investors' hopes for early interest rate cuts by the Federal Reserve. Hong Kong's Hang Seng Index fell 1.6%, trading below 19,000 for the first time since last September, data from LSEG showed. Mainland China's benchmark CSI 300 dropped 0.75%, having closed at its lowest level since September 2024 on Friday. China is slated to release its December trade data later in the day, while India is expected to report its inflation numbers. Japan markets are closed for a holiday. South Korea's Kospilost 0.85% while...
U.S. stocks sold off on Friday, with the S&P 500 erasing its 2025 gains, after an upbeat jobs report stoked fresh inflation fears, reinforcing bets that the Federal Reserve will be cautious in cutting interest rates this year. Wall Street's main indexes closed their second consecutive week in the red. The Dow Jones Industrial Average (.DJI), fell 696.75 points, or 1.63%, to 41,938.45, the S&P 500 (.SPX), lost 91.21 points, or 1.54%, to 5,827.04 and the Nasdaq Composite (.IXIC), lost 317.25 points, or 1.63%, to 19,161.63. The domestically focused small-cap Russell 2000 index...
The STOXX 50 and STOXX 600 fell nearly 1% on Friday, driven lower by a stronger-than-expected U.S. jobs report that reinforced the Federal Reserve's cautious stance on future rate cuts. This, combined with inflation concerns, the ongoing UK debt market crisis, and uncertainty over President-elect Trump's potential tariff policies, weighed heavily on investor sentiment. Most sectors and bourses were in the red, with utilities and food & beverage stocks dropping 2.3%, while autos were the exception, rising 0.48%. Major companies like LVMH (-0.7%), SAP (-0.9%), and ASML Holding (-1.3%)...
US stocks fell on Friday, with the S&P 500 down 07%, the Dow Jones down about 230 points and the Nasdaq down 1%, after a better-than-expected jobs report underscored the resilience of the US labor market, reinforcing the Federal Reserve's cautious approach to further interest rate cuts. The US economy unexpectedly added 256,000 jobs in December, well above the 160,000 forecast, and the unemployment rate unexpectedly fell to 4.1% from 4.2% while wage growth slowed to 0.3% as expected. Traders expect the Fed to leave the federal funds rate steady through the second half of the year....
European markets traded flat to down on Friday amid concerns about the UK debt market, with attention now turning to US jobs data that could provide clues on the Fed's interest rate path The Stoxx 50 fell 0.1% and the Stoxx 600 was flat. Ubisoft shares fell more than 8% after it announced a review of its strategic options following speculation about a potential buyout. Investors also monitored a surge in UK bond yields, with the 30-year yield hitting a level not seen since the late 1990s and the 10-year yield hitting its highest since the 2008 financial crisis, reflecting growing concerns...
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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