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 S&P 500 and the Nasdaq Composite rose on Monday, boosted by a rally in semiconductor stocks and a report that suggested the incoming Trump administration could adopt a less aggressive tariff stance than expected. According to preliminary data, the S&P 500 (.SPX), gained 32.96 points, or 0.56%, to end at 5,975.98 points, while the Nasdaq Composite(.IXIC), gained 243.30 points, or 1.24%, to 19,864.98. The Dow Jones Industrial Average (.DJI), fell 22.40 points, or 0.05%, to 42,709.73. Most of the 11 S&P 500 sectors ended lower, but communication services (.SPLRCL), and...
European markets closed higher on Monday afternoon, having fallen from earlier highs after U.S. President-elect Donald Trump dismissed a media report that his tariff plan may not be as extreme as feared. The regional Stoxx 600 index ended up 0.94%, as the autos sector lost some momentum, closing 3% higher from an earlier gain of nearly 5%. The Washington Post on Monday reported that Trump's team is considering a plan to impose tariffs on all countries, but only on "critical imports." What might be covered was not specified in the story, but Germany's Daimler Truck and Italian-American...
Stocks rose on Monday, recovering from last week's losses as chipmakers surged. The Dow Jones Industrial Average traded 79 points higher, or 0.2%. The S&P 500 gained 0.8%, and the Nasdaq Composite gained 1.3%. Chip stocks led the gains after Foxconn reported record fourth-quarter revenue. Nvidia and Broadcom rose more than 3.2% and 2.9%, respectively, while Micron Technology gained 9%. Market sentiment was also helped Monday by a Washington Post report that said President-elect Donald Trump's tariff plan would be narrower than anticipated. The report said the levies would only cover...
European markets opened higher on Monday, looking to recover from a tumultuous start to the year for stocks. The regional Stoxx 600 index rose 0.3% in early trade, while sector gains were led by technology and autos, up 1.4% and 1.3%, respectively. Finnish fuel producer Neste led the gains, rising nearly 5%, continuing its positive momentum after last week announcing its largest contract to supply sustainable aviation fuel. Source: CNBC
The Hang Seng fell 72 points, or 0.4%, to close at 19,688 on Monday after trading slightly higher in the morning, dragged down by losses across sectors. Sentiment turned sour as China's markets slumped to a near three-month low, down for a fourth session amid growing concerns over a sluggish recovery and trade risks as Trump returns to the White House. Limiting losses was a private sector survey that showed China's services activity rose the most in seven months in December, even as overseas orders fell and cost pressures increased. Meanwhile, the Shanghai and Shenzhen bourses met with...
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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