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 major averages closed a volatile session mixed on Tuesday, as investors awaited clarity from President Trump regarding his upcoming tariff policy. The S&P 500 rose by 0.4%, the Nasdaq 100 gained 0.9%, while the Dow Jones finished marginally in the red. Consumer discretionary stocks, including Tesla and Nike, led the day's gains. The market remained under pressure from weaker-than-expected economic data, including a disappointing manufacturing survey with price pressures at their highest since 2022 and job openings below forecasts. The White House confirmed that reciprocal...
European markets rebounded on Tuesday, with the Stoxx 50 and Stoxx 600 rising over 1%, recovering from a four-session losing streak. This comes after both indexes fell about 1.5% the previous day to two-month lows, as investors braced for President Trump's new trade tariffs set to take effect on Wednesday. Uncertainty remains over the scope of the tariffs, with reports suggesting a 20% levy on most U.S. imports. Meanwhile, Eurozone inflation cooled to 2.2% in March, in line with expectations. In corporate news, Thyssenkrupp surged over 7% after analysts at Kepler Cheuvreux upgraded the...
U.S. stocks fell Tuesday, as the market awaited clarity from President Donald Trump regarding his tariff policy rollout. Tuesday also marks the beginning of the second-quarter after a bumpy first quarter. The Dow Jones Industrial Average dropped 238 points, or 0.6%. The S&P 500 shed 0.4%, and the Nasdaq Composite slid 0.3%. Shares of Alphabet and Apple lost more than 1% each. Tesla, meanwhile, climbed more than 2%. The White House on Wednesday is expected to unveil reciprocal tariffs on goods from virtually all countries. Investors had been hoping for a narrow approach toward...
The Hang Seng rose by 87 points, or 0.4%, to close at 23,207 on Tuesday, following a weak session the day before, as it moved away from a four-week low, lifted by expansion in the Chinese manufacturing sector. A private survey showed that factory activity in the mainland grew the most in four months, following Monday's official data that revealed the manufacturing sector expanded at the fastest pace in a year. However, capping the gains, traders anticipated the unveiling of Trump's tariffs on Wednesday. Tech, commercial services, energy minerals, and miscellaneous sectors mainly drove the...
Japan's Topix Index eked out a small gain after paring most of its earlier rise, as a fall in US futures added to worries about Donald Trump's upcoming reciprocal tariffs. Topix rose 0.1% to 2,661.73 as of market close in Tokyo, after rising as high as 2,697.33 in morning trade Nikkei was virtually unchanged at 35,624.48 Drugmakers and trading houses contributed the most to the Topix's advance, while banks and electronics makers were the heaviest drag. "There's noticeable selling in sectors seen as sensitive to the economy, such as banks and tech," as concerns about...
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...