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...
Hong Kong shares rose 60 points, or 0.2%, to 22,841 on Friday morning, extending gains for a seventh straight session and holding around a one-month high. Positive sentiment from Wall Street overnight supported sentiment after US President Trump suggested tariffs on Chinese goods could be eased if upcoming trade talks in Switzerland go smoothly—the first formal negotiations between the US and China. Investors also cheered a major trade deal between the US and the UK. Financial and consumer stocks led gains, while property and technology stocks lagged. However, further gains were capped by...
The Nikkei 225 Index jumped 1.2% to above 37,300 while the broader Topix Index gained 0.9% to 2,720 on Friday, with Japanese shares hitting six-week highs, tracking a rally on Wall Street overnight as President Donald Trump unveiled a trade deal with the UK, the first since the US imposed sweeping tariffs last month. On the domestic front, investor sentiment was buoyed by data showing a stronger-than-expected rise in personal spending in March, signaling resilience in consumer demand. However, a continued decline in real wages—down for the third consecutive month—tempered optimism about the...
Stocks rose Thursday after President Donald Trump announced a trade deal framework between the U.S. and United Kingdom, the first major agreement hatched since the U.S. launched pre-emptive tariffs on most of the globe earlier this year. The Dow Jones Industrial Averag gained 254.48 points, or 0.62%, to settle at 41,368.45. The S&P 500 rose 0.58% and closed at 5,663.94. The Nasdaq Composite advanced 1.07% to end at 17,928.14. Trump announced the deal outline from the Oval Office with U.K. Prime Minister Keir Starmer on speakerphone. A 10% baseline tariff will remain on the U.K.,...
The Dow Jones Industrial Average (DJIA) gained ground on Thursday, climbing over 650 points or 1.6% after the Trump administration announced an incoming (but still not signed) trade deal with the United Kingdom (UK). Under the trade deal, most imports from the UK will still see a 10% tariff across the board, but markets are taking the news as a sign that the Trump administration will continue to at least partially walk back its own tariffs over time. Investors are still hoping for a quick resolution to the escalating US-China trade war that has steep 145% import taxes on most goods from...
US stocks rose on Thursday, with the S&P 500 rising 0.6%, the Nasdaq adding 0.9% and the Dow Jones jumping 230 points, as investors welcomed President Trump's announcement of a US-UK trade deal. Sentiment was further boosted by reports that the administration is preparing to roll back some Biden-era restrictions on chipmakers. Consumer discretionary, energy and communication services were by far the top performers while health and utilities underperformed. Megacaps Apple (0.6%), Microsoft (1.6%), Nvidia (0.5%), Amazon (1.2%), Meta (2.2%), Alphabet (1.2%) and Tesla (3.2%) were all...
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...