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 fell 0.51% to close at 37,554 while the broader Topix Index dropped 1.03% to 2,756 on Thursday, giving back gains from the previous session as US stocks struggled for momentum overnight. The downturn followed a lackluster performance in US markets, where weak labor and services data raised concerns about the impact of trade policy uncertainty on the economy. The ADP report showed US private-sector hiring slowed to its lowest level in over two years, while the US ISM services PMI for May pointed to the first contraction in nearly a year. On the domestic front, data...
Both the STOXX 50 and STOXX 600 edged 0.1% higher on Thursday, as investors refrain from making big bets ahead of the European Central Bank's monetary policy decision later in the day. The ECB is widely expected to cut interest rates once more before potentially pausing to assess the broader impact of US trade policies under President Trump on the European economy. On the data front, German factory orders unexpectedly rose in April, defying forecasts of a decline. In corporate news, shares of LVMH (+1.1%), ASML Holding (+1.2%), L'Oréal (+0.7%), EssilorLuxottica (+1.1%), and Bayer (+3.5%)...
The Nikkei 225 Index fell 0.2% to around 37,700 while the broader Topix Index dropped 0.6% to 2,770 on Thursday, giving back gains from the previous session as US stocks struggled for momentum overnight. The downturn followed a lackluster performance in US markets, where weak labor data raised concerns about the impact of trade policy uncertainty on the economy. The ADP report showed US private-sector hiring slowed to its lowest level in over two years. On the domestic front, data revealed a fourth straight monthly decline in real wages in April, as persistent inflation continued to...
Hongkong Stock Market Hong Kong stocks climbed 211 points or 0.9% to 23,869 on Thursday morning deals, increasing for the third session. Markets reached their highest level in two weeks, driven by broad-based sector gains and private survey data indicating a rebound in China's services activity in May, following a seven-month low in April. Optimism over potential U.S.-China trade talks also lifted sentiment as investors watched for signs of easing tensions. In other news, China has introduced a national tracking system for seven rare earth elements, following April's export restrictions and...
U.S. stocks edged higher on Wednesday as the market digested weak economic data while keeping an eye on trade developments. The S&P 500 rose 0.1%, the Nasdaq gained 0.4%, and the Dow gained about 50 points, extending gains for a third straight session. Tech stocks continued to provide support, although enthusiasm was tempered by disappointing labor market data. Nvidia rose 3%, surpassing Microsoft and becoming the world's most valuable public company once again. Private sector hiring rose just 37,000 in May, the weakest in more than two years, and the ISM services index fell to 49.9,...
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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