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...
US stocks closed higher on Friday, ending the first week of the new year on a positive note ahead of data that should provide more insights on the health of the largest economy in the world. At close, the Dow Jones Industrial Average gained 0.8%, the S&P 500 index rose 1.3%, and the NASDAQ Composite index climbed 1.7%. The main Wall Street indexes reported stellar gains in 2024, but expectations of slower interest rate cuts and uncertainty over policies under incoming President Donald Trump have chipped away at this sentiment. In a relatively quiet day for economic data, investors will...
U.S. stocks moved higher on Friday as Wall Street tried to shake off a volatile start to the new year. The S&P 500 rose 1.2%, and the Dow Jones Industrial Average advanced 319 points, or about 0.9%. The Nasdaq Composite gained about 1.6%. Tech stocks were a bright spot for the market on Friday. Chip giant Nvidia climbed 4%, while server maker Super Micro Computer jumped 6%. Tesla rose 4% to lead the consumer discretionary group. Friday's move came off a choppy trading session on Thursday that saw stocks close lower after a morning rally. The S&P 500 and Nasdaq have fallen for five...
European markets were lower on Friday after a rocky start to 2025 for stocks around the world. The Stoxx 600 was down 0.44% by 3:11 p.m. London time, with major regional bourses and sectors mostly trading in negative territory. Autos stocks led losses, down 1.97% as they extended Thursday's decline, while travel and leisure stocks shed 1.7%. One of the few sectors to rise was financial services stocks, which were last seen 0.46% higher. Oil and gas stocks also rose over 1%, led by gains for Finnish oil refiner Neste, which climbed 4.6% and was on course for its best week since October on...
The Hang Seng rose 137 points, or 0.7%, to close at 19,760 on Friday after plunging more than 2% in the previous session, boosted by gains in most sectors, including consumer, technology and property. The prospect of a rate cut from the People's Bank of China this year supported sentiment. In addition, traders welcomed the second round of a CNY55 billion swap facility operation by the Chinese central bank to support the country's stock market. Separately, China's top planning agency announced an expansion of consumer subsidies to cover smartphones and other electronics, aimed at boosting...
European markets were slightly lower as trading began on Friday after a rocky start to 2025 for stocks around the world. The pan-European Stoxx 600 fell 0.08% shortly after the market opened, with most sectors in negative territory. Mining stocks led the losses, down 0.86%, while financial services stocks rose 0.54% after a day in the red on Thursday. France's CAC 40 was last down 0.45%, while Germany's DAX fell 0.15%. Britain's FTSE 100 traded around the flatline. The Stoxx 600 closed higher on Thursday after a volatile first trading session of the year. Investors weighed regional and...
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.
In...