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 Nikkei 225 Index rose 0.1% to around 39,716 while broader Topix Index fell 0.4% to 2,815 on Wednesday, with Japanese shares showing mixed performance as investors reacted to the latest trade developments. US President Donald Trump announced on Tuesday that he had reached a preliminary trade agreement with Indonesia, which will set a 19% tariff on the country's exports to the US. Domestically, data showed that sentiment among Japanese manufacturers improved slightly in July driven largely by a rebound in the semiconductor sector, despite lingering concerns over US trade...
The Dow Jones Industrial Average (DJIA) fumbled on Tuesday, losing enough ground to knock the megacap index back below the previous week's close, but still holding onto near-term consolidation levels. US Consumer Price Index (CPI) inflation showed price pressures are still on the wrong side of Federal Reserve (Fed) targets, knocking investor hopes for a summer rate cut even further back. US CPI inflation rose through the tail end of the second quarter. Despite the figures mostly keeping in line with or beating median forecasts, investors are still feeling the pressure from rising price...
European stocks erased early gains and closed mostly lower on Tuesday as markets continued to assess how potential tariffs from the US may hurt European businesses. The STOXX 50 closed 0.3% lower at 5,358 and the STOXX 600 fell 0.4% to close at 545. US President Trump had previously announced a 30% tariff on imports from the European Union starting August 1st, prompting the bloc to continue to seek a trade agreement. EU officials recently stated that a deal is still being negotiated to avoid tariffs, but a retaliation package is being prepared regardless, which may tariff up to€72 billion...
The S&P 500 rose 0.4% and the Nasdaq rallied 0.8% on Tuesday (July 15), while the Dow Jones Industrial Average hovered around the flatline, as the latest CPI report reinforced speculation that the Fed has room to cut interest rates this year. Headline inflation rose in line with forecasts, both annually and monthly. However, core inflation came in lower than expected for both measures, suggesting that underlying price pressures, particularly those related to recently imposed tariffs, remain contained for now. Meanwhile, Nvidia shares jumped nearly 5% after the company announced plans...
The Hang Seng Index surged 387 points, or 1.6%, to close at 24,590 on Tuesday (July 15), rising for a fourth straight session and reaching its highest level in nearly four months. The index rebounded from an initial decline as all sectors advanced, led by strong performance in technology and consumer stocks. The technology index surged 2.8%, driven by solid gains in Kuaishou Technology (3.8%), Meituan (3.5%), and Tencent Holdings (2.3%), after Nvidia expressed hope of soon resuming sales of its H20 general-purpose chip to China. Consumer, property, and financial stocks also rose, as...
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...