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 opened mixed on Thursday after Wall Street's rally stalled overnight even as inflation data matched expectations. The U.S. personal consumption expenditures, or PCE, price index rose 2.3% on an annualized basis, up from 2.1% in September. So-called core inflation, which excludes food and energy prices, rose 2.8% in the 12 months to October, up from 2.7% in the previous month. Both were in line with expectations from economists polled by Reuters, according to LSEG data. The Bank of Korea is expected to keep its benchmark interest rate unchanged at 3.25% when its...
Japanese stocks fell, dragged down by a decline in electronics shares, as concerns about U.S. trade policy persisted. Lasertec dropped 3.4% and Terumo dropped 1.7%. USD/JPY was at 151.46, down from 152.15 at the close of the Tokyo Stock Exchange on Wednesday. Investors were watching the yen and any developments related to the Russia-Ukraine war. The Nikkei Stock Average was down 0.4% at 37,994.69. Source: Bloomberg
Stocks fell in light trading on Wednesday as investors took some risk off the table following big November gains. The S&P 500 shed 0.4%, while the Nasdaq Composite lost 0.8%. The Dow Jones Industrial Average fell 115 points, or 0.3%, despite trading more than 140 points up at session highs. Traders appeared to take profits on big technology names that have largely performed well this year, which can explain the Nasdaq's underperformance. Nvidia which has surged more than 168% in 2024, lost more than 3% in the session. Meta Platformsslid about 1% after rallying around 60% this...
European stocks closed firmly lower on Wednesday, extending the drop from the prior session as markets continued to assess the outlook for ECB policy and the impact of tariff threats from the upcoming US presidential administration. The Eurozone's Stoxx 50 dropped 0.6% to close at 4,734 and the pan-European Stoxx 600 eased 0.2% to close at 505. ECB Governing Council member Schnabel noted that the Eurozone's economy is not headed into a recession, warranting caution in its upcoming policy decisions to not overly expedite rate cuts. French financial services providers were among the worst...
Stocks edged lower as traders waded through mixed data on the world's largest economy ahead of a key inflation reading. Equities halted a seven-day rally that drove the S&P 500 to all-time highs. Treasuries advanced across the curve, while the dollar fell. The US economy expanded at a solid pace in the third quarter, largely powered by a broad-based advance in consumer spending and steady business investment. Gross domestic product increased at a 2.8% annualized pace. Separate figures showed initial jobless claims were...
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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