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 continued to slide on Tuesday as Donald Trump's tariffs on Canada, Mexico and China went into effect and prompted retaliatory measures, raising investor concerns about the economy. The Dow Jones Industrial Average fell 520 points, or 1.2%. The S&P 500 fell 1.1%. The Nasdaq Composite fell 1%, pushing the tech-heavy index near correction territory, when an index drops 10% from a recent high. The U.S. imposed 25% tariffs on Canada and Mexico that took effect at midnight. Trump also imposed additional 10% duties on Chinese goods. China retaliated with additional duties of up...
The Hang Seng Index fell 0.3% at 22,941.77 in Hong Kong. The move follows the previous session's increase of 0.3%. Alibaba Group Holding Ltd. contributed the most to the index decline, decreasing 2.0%. BYD Co. had the largest drop, falling 6.8%. Today, 38 of 83 shares fell, while 41 rose; 1 of 4 sectors were lower, led by commerce and industry stocks. Source : Bloomberg
European markets opened lower Tuesday as global investors brace for the start of U.S. tariffs on Mexico, Canada and China, along with retaliatory action. The Stoxx 600 index had tumbled 0.84% by 8:30 a.m. in London as the Stoxx 600 basket of automotive stocks — one of the sectors expected to be most impacted by the new duties — fell 2.7%. Among the companies hit were Dodge-maker Stellantis, down 4%, and Mercedes Benz, lower by 2.8%. French defense firm Thales meanwhile jumped 11% after reporting higher income and revenue for the full-year 2024 period. The stock was among many European...
Japanese stocks ended lower as renewed concerns about U.S. tariffs hit markets across Asia. Tech and brokerage stocks led the declines. SoftBank Group dropped 4.8% and Daiwa Securities Group lost 2.7%. The Nikkei Stock Average fell 1.2% to 37331.18. Investors are focusing on any developments in U.S. trade and foreign policies. USD/JPY was at 149.38, compared with 149.50 as of Monday 5 p.m. ET. The 10-year Japanese government bond yield rose 2 basis points to 1.425%. Source: Bloomberg
Shares in Hong Kong plunged 380 points or 1.7% to 222,631 on the Tuesday morning session following modest gains in the prior session. The steep decline followed a rout on Wall Street overnight after US President Trump confirmed that tariffs on key trading partners would take effect today. Meanwhile, China's state-backed Global Times said Beijing was preparing tariff countermeasures, potentially targeting US agricultural exports and increasing the prospect of tit-for-tat tariffs. Markets notched their lowest in nearly two weeks, with all sectors dragging down the benchmark Hang Seng index....
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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