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...
European stocks extended morning gains and closed sharply higher on Thursday, trimming the losses from the prior two sessions with support from a batch of earnings, while markets continued to gauge the impact that the new Republican-led US government may have on the global corporate sector. The Stoxx 50 added 1.9% to close at 4,830, and the Stoxx 600 rose 1.1% to close at 507. ASML, the Stoxx 50's heaviest company, soared 7% after the company forecasted sales to grow by 8% to 14% over the coming five years. Also, Siemens added 4.9% after posting a higher-than-expected profit although it...
Stocks struggled to make headway, following a furious post-election rally that spurred calls for a breather amid signs of buyer fatigue. Equities wavered near all-time highs, with the S&P 500 remaining close to technically overbought levels. That's after a surge that drove the benchmark gauge up 25% this year. Several measures highlight strong trader optimism, including the latest figures from the American Association of Individual Investors, which showed a spike in bullish sentiment last week. In the run-up to Jerome Powell's speech on Thursday, traders...
The Hang Seng plunged 388 points, or 2.0%, to close at 19,436 on Thursday, marking its fifth session of declines and hitting a seven-week low amid sharp declines across all sectors. It was the first time the Hang Seng remained fully open despite the bad weather, with many participants reluctant to enter any trades. Traders shrugged off China's latest efforts to reverse a property slump through tax incentives on home and land transactions. Concerns about Sino-U.S. tensions also grew as China tightened its grip on rare earth exports. The technology index slumped about 3%, taking its losses...
The Nikkei 225 index fell 0.48% to close at 38,536, while the broader Topix index fell 0.27% to 2,701 on Thursday, reversing gains from earlier in the session, weighed down by losses in the technology sector following similar moves on Wall Street overnight. Investors also continued to assess the potential impact of U.S. President-elect Donald Trump's policies on the Japanese economy, particularly on export-driven industries. Meanwhile, traders kept a close eye on a sharply weaker yen, which could provide support for local equities in the near term. Technology stocks led the losses, with...
The Nikkei 225 index rose 0.8% to surpass 39,000, while the broader Topix index gained 1% to 2,735 on Thursday, with Japanese stocks recouping some of the losses seen earlier in the week as the yen depreciated to a 3-1/2-month low. A weaker yen supported the profit outlook for Japan's export-driven industries and boosted carry trades, where investors borrow in yen to invest in higher-yielding assets. Attention now turns to the release of third-quarter GDP data on Friday, which could provide further insight into Japan's economic outlook. Financial stocks led the day's rally, 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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