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...
Wall Street trading was fairly muted in the run-up to the highly anticipated earnings from Nvidia Corp. — the last of the "Magnificent Seven" megacaps to report. Just hours ahead of results from the world's most-valuable chipmaker, the S&P 500 fluctuated. Nvidia, which has surged more than 40% from its April low, barely budged. The options market implies a post-results move of about 6% in either direction, lagging the average swing over the past two years. "Wednesday's Nvidia earnings report is pivotal not just for Nvidia but for the entire stock...
The Hang Seng fell 124 points or 0.5% to finish at 23,258 on Wednesday, swinging from modest gains in the previous session as broad-based losses across financials, consumer, and tech sectors weighed on the market. Sentiment turned sour amid rising concerns that China-U.S. trade tensions could escalate once the current three-month pause ends in July. Risk appetite was further dampened by an intensifying price war in China's auto sector after BYD Co. announced new discounts on over a dozen models. Adding to the cautious mood, investors braced for China's official PMI data in the coming days,...
Both the STOXX 50 and STOXX 600 hovered near the flatline on Wednesday, taking a breather after two consecutive sessions of gains. Investors remained cautious as they evaluated ongoing trade negotiations and the US fiscal outlook, while awaiting Nvidia's earnings report later today for potential catalysts and updated guidance. Reports suggest European leaders have asked major corporations and CEOs to outline their US investment plans in preparation for the talks with Washington. On the data front, GDP growth for France was confirmed at 0.1% in Q1. Among the sectors, oil & gas, autos,...
Japan stocks were higher after the close on Wednesday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 added 0.03%. The best performers of the session on the Nikkei 225 were DIC Corp (TYO:4631), which rose 6.51% or 181.00 points to trade at 2,960.00 at the close. Meanwhile, Alps Electric Co., Ltd. (TYO:6770) added 4.37% or 58.50 points to end at 1,398.50 and Sumitomo Osaka Cement Co., Ltd. (TYO:5232) was up 3.74% or 141.00 points to 3,911.00 in late trade. The worst performers of the session were Mitsubishi Electric Corp...
(Hong Kong) In the latest trading session, the Hang Seng Index opened with a 3-point increase or 0.01%, reaching 23,385 points. The Hang Seng China Enterprises Index rose by 18 points or 0.21% to 8,488 points, while the Hang Seng TECH Index climbed by 26 points or 0.51%, hitting 5,209 points. Tech stocks displayed varied developments with Tencent up by 0.2%, Alibaba by 0.1%, Meituan down by 0.8%, Xiaomi Group post-earnings increase of 2.3%, JD.com down by 0.8%, and Kuaishou post-earnings surge of 6.4%. Across the financial sector, HSBC Holdings dropped by 0.3%, AIA Group fell by 0.4%,...
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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