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 fell Monday as traders looked ahead to "Liberation Day" for clarity on President Donald Trump's tariff plans. The Dow Jones Industrial Average traded 228 points lower, or 0.6%. The S&P 500 dipped 1.2%, and the Nasdaq Composite shed 2.1%. Investors were in a risk-off mood again early Monday, selling the tech bull market winners like Nvidia, Tesla and Meta. A slew of tariffs previously announced by the Trump administration will go into effect on Wednesday — what Trump has called "Liberation Day" — including a 25% levy on "all cars that are not made in the United States." The...
European markets opened sharply lower on Monday as global investors braced for U.S. President Donald Trump's trade tariffs to come into force. The regional Stoxx 600 index was 1% lower shortly after the opening bell, with all sectors and major bourses firmly in negative territory. Germany's DAX index led losses, shedding 1.2% during early trade. The sell-off comes ahead of a raft of Trump tariffs set to come into effect on Wednesday, including a 25% levy on "all cars that are not made in the United States." By 8:18 a.m. in London on Monday, Europe's Stoxx Automobiles and Parts index was...
Hong Kong stocks shed over 1% to close at 23,120 on Monday, extending losses for a second session amid broad sector declines. Sentiment remained weak as investors braced for US reciprocal tariffs set for Wednesday. Meanwhile, an upbeat Chinese PMI failed to offer support despite data showing factory activity at a one-year high and service growth at a three-month high. On the corporate front, CK Hutchison dropped more than 3% after Chinese state media condemned its port sale near the Panama Canal to BlackRock's group. Other notable laggards included Sands China (-5%), Lenovo (-3.5%), Xiaomi...
Stocks in Europe started the week in negative territory, with both the STOXX 50 and the STOXX 600 dropping around 1% to near two-month lows as concerns over the ongoing trade war continued to weigh on investor sentiment. New reciprocal tariffs on US imports are set to take effect on Wednesday, fuelling uncertainty regarding their scope and impact. Reports also indicate that President Trump has recently urged his advisors to adopt a more aggressive stance on tariffs. The basic resources sector saw sharp losses, hitting its lowest level since September, while banks, chemicals, and...
Japan's Nikkei 225 share average tumbled to its lowest point in more than six months on Monday. The benchmark plunged 4.05% to end the day at 35,617.56, its lowest since September. The worst-performing stocks on Monday include Renesas Electronics, which plunged 10.97%, Socionext Inc which lost 8.66% and Disco Corp which was down 8.35%. The broader Topix index fell 3.57% to 2,658.73. Source: CNBC
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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