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 advanced on Thursday, supported by upbeat earnings and solid economic data as markets brushed aside lingering concerns over President Trump's criticism of the Fed and renewed tariff threats. The S&P 500 and Nasdaq 100 rose 0.5% and 0.8%, respectively both notching new record highs while the Dow Jones gained over 200 points, or 0.5%. Retail sales rebounded by 0.6% in June, beating expectations, and weekly jobless claims dropped to 221,000, the lowest level in three months, highlighting consumer resilience. United Airlines and PepsiCo led earnings-driven gains, with shares...
S&P 500 and Nasdaq 100 futures edged up 0.1% and 0.2%, respectively, on Thursday morning (July 17), while the Dow Jones Industrial Average remained flat. What caused this? Investors were digesting a series of new economic data from the US, which suggested the economy remains quite strong. This increase reflects market caution in responding to mixed sentiment, from economic strength to major corporate earnings reports. Released data showed that US retail sales rose 0.6% in June, well above market expectations of 0.1%. Meanwhile, jobless claims fell to 221,000, indicating a still-solid...
The Hang Seng Index weakened 19 points, or nearly 0.1%, to close at 24,499 on Thursday (July 17th), declining for the second consecutive session due to continued profit-taking after the benchmark index hit a four-month high earlier in the week. Slight declines in US index futures ahead of key retail sales data later in the day also weighed on sentiment. Meanwhile, concerns over escalating US tariffs persisted after President Trump announced plans to send letters to more than 150 countries, outlining potential tariffs of between 10% and 15%. He described most of the letter recipients as "not...
The STOXX 50 rose 0.9% and the STOXX 600 gained 0.6% on Thursday, marking their first advances in six and five consecutive sessions, respectively, as investor attention shifted to corporate earnings. Chip stocks rebounded from sharp losses the previous day, supported by upbeat results from TSMC. Notable gains included ASML Holding (+2.7%), Infineon Technologies (+2%), and STMicroelectronics (+3.7%). ABB jumped more than 7% after reporting record order intake and Volvo added 0.7% after reporting better-than-expected earnings, with signs of recovery in Europe helping to offset weak truck...
The Nikkei 225 rose 0.6% to close at 39,901, while the broader Topix climbed 0.7% to 2,840 on Thursday, snapping early losses and rebounding from a slight dip in the previous session. The benchmark index hit its highest level in two weeks, tracking overnight gains on Wall Street after US President Donald Trump denied plans to dismiss Federal Reserve Chair Jerome Powell. Investors also digested Japan's latest trade data, which showed declines in exports to the U.S. and China, offset by strong gains in shipments to the EU, ASEAN, and Russia. However, upside momentum was limited by growing...
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...