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...
U.S. stocks edged higher Friday as investors digested Trump's new selection to temporarily fill a vacancy on the Fed's Board of Governors and assessed an ebbing stream of corporate earnings. At 09:35 ET (13:35 GMT), the Dow Jones Industrial Average rose 145 points, or 0.3%, the S&P 500 index gained 16 points, or 0.3%, and the NASDAQ Composite climbed 52 points, or 0.3%. The main averages are on pace for weekly gains, with the tech-heavy NASDAQ Composite the star of the show, poised for a 2.9% gain before this session. The Trump administration's tariffs took effect from Thursday,...
The Hang Seng dipped 223 points or 0.9% to close at 24,859 on Friday, reversing gains from the prior four sessions amid broad-based losses. Sentiment soured ahead of the August 12 deadline for China to reach a lasting tariff deal with the Trump administration. Traders also remained cautious ahead of China's July CPI and PPI data due Saturday, with expectations for a slight drop in consumer prices amid weak demand and continued producer deflation due to lingering trade risks. The tech sector led losses, down around 1.5%, pressured by a nearly 8% plunge in chipmaker SMIC after disappointing...
Both the STOXX 50 and STOXX 600 rose 0.2% on Friday, putting them on track to close the week with strong gains of 3.3%, their best performance since April, and 1.9%, respectively. The weekly rally was driven by upbeat corporate earnings reports and renewed optimism over potential progress in resolving the Ukraine-Russia conflict. Investors also assessed changing global trade dynamics after President Trump's massive retaliatory tariffs took effect on Thursday. Furthermore, expectations of a Federal Reserve interest rate cut have recently strengthened. Among large-cap stocks, Novo Nordisk...
The Nikkei 225 jumped 1.85% to close at 41,820, while the broader Topix Index rose 1.21% to 3,024 on Friday (August 8), with the Topix index hitting a new record high as strong corporate earnings boosted market momentum. SoftBank Group surged more than 10% after returning to profitability in the first quarter, supported in part by gains from its artificial intelligence investments. Sony Group rose more than 3.5%, extending its 4.1% gain in the previous session, after raising its full-year operating profit forecast. Toyota Motor also rose 3.5% despite cutting its profit forecast due to US...
Hong Kong stocks fell 144 points, or 0.6%, to 24,936 in early trading on Friday, ending a four-day winning streak amid widespread weakness. Caution prevails ahead of China's July CPI and PPI data due Saturday, with consumer prices expected to ease slightly and producer deflation likely to persist amid ongoing trade risks. On the domestic front, Hong Kong's foreign exchange reserves fell to a three-month low of USD 425.4 billion in July. Semiconductor Manufacturing shares plunged 4.7% after missing second-quarter profit estimates, while MGM China (-4.3%), Kingdee Intl. Software (-4.2%), SITC...
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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