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 Nasdaq Composite rallied Monday as Tesla shares surged and Wall Street braced for major market-moving earnings reports. The Nasdaq advanced 0.3%, while the Dow Jones Industrial Average fell 60 points, or 0.1%. The S&P 500 edged up 0.1%. Tesla spearheaded the tech-heavy index's rally, popping 8% amid a Bloomberg News report, citing sources, that President-elect Donald Trump's team is working on ways to ease regulation on self-driving vehicles. Elsewhere, Apple and Netflix rose about 2%, while Advanced Micro Devices surged nearly 4%. Wednesday's report from the AI chip darling...
The Hang Seng rose 150 points or 0.8% to close at 19,577 on Monday, breaking a six-session of losses after China urged listed companies to lift share prices through mergers and acquisitions, employee stock schemes, cash dividends, and share buybacks. However, the index trimmed early rises following Morgan Stanley's downgrade of Hong Kong shares to "underweight" from "market weight". Most sectors advanced, notably financials, consumers, and tech. Geely Auto jumped 4.4% after Jefferies kept a "buy" rating, citing restructuring efforts to improve efficiencies. Some traders were cautious ahead...
European equity markets were set to open higher on Monday, as investors looked ahead to key inflation data from the Eurozone and the UK later this week, which could offer insights into the region's monetary policy direction. Markets were also awaiting remarks from key central bank officials for further clues on future policy moves. Moreover, European futures tracked US futures higher as investors prepared for Nvidia's earnings report this week, with traders watching for guidance about the demand for its Blackwell AI chips. In premarket trade, Euro Stoxx 50 and Stoxx 600 futures were both up...
The Nikkei 225 Index dropped 0.7% to below 38,400, while the broader Topix Index fell 0.6% to 2,696 on Monday, mirroring losses on Wall Street as the post-election rally continued to lose momentum and concerns over a slower pace of interest rate cuts by the US Federal Reserve weighed on sentiment. Japanese stocks also faced pressure from a sharp rebound in the yen on Friday. On the economic front, investors reacted to data showing a surprising decline in Japan's machinery orders in September. Looking ahead, markets are focused on key economic releases later this week, including Japanese...
Stocks in Hong Kong jumped 272 points or 1.4% to 19,702 in early trade on Monday after retreating in the prior six sessions, helped by robust gains in most sectors. Financial stocks led the advance, climbing around 2% after a Chinese regulator urged companies with share prices lower than book values to improve performance. Tech and consumer sectors also saw strong gains, despite Goldman Sachs' recommendation to underweight Hong Kong stocks due to limited economic and earnings growth. Capping the upturn was fresh data showing foreign direct investment in China tumbled 29.8% yoy in the first...
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...