Oil headed for the biggest weekly loss since late June as traders positioned for a key OPEC+ decision on supply this weekend. Brent futures edged marginally higher on Friday, but were still trading below $65 a barrel and set for a weekly slump of about 8%. Prices have declined the past four days on the expectation OPEC+ will discuss fast-tracking more supply hikes. Meanwhile, efforts by the Trump administration to keep oil exports flowing from northern Iraq, as well as a US government shutdown, have added to the bearish sentiment. The OPEC+ meeting comes as...
Asian stocks are poised for a sluggish start following a tepid Wall Street session, as investors held back ahead of Wednesday's Federal Reserve interest-rate decision. Equity-index futures signaled modest losses in Sydney and Tokyo, though Hong Kong looked set to open higher, after the S&P 500 slipped 0.1% and the Nasdaq 100 ended a nine-day winning streak. Gold briefly topped $3,700 an ounce, buoyed by a softer US dollar that fell to its weakest level in more than 10 weeks. Attention in Asia will also be on a 20-year government bond...
Japanese stocks are lower as the yen strengthened against the dollar overnight due to expectations for a Fed rate cut later Wednesday. Financial stocks are leading declines after U.S. Treasury yields dropped overnight. Japan Post Bank is down 2.1% and Dai-ichi Life Holdings is 2.7% lower. USD/JPY is at 146.27, down from 146.87 as of Tuesday's Tokyo stock market close. Investors are focusing on any developments related to the leadership election for the ruling Liberal Democratic Party of Japan. The Nikkei Stock Average is down 0.6% at 44618.33. Source: Bloomberg
US stocks edged lower on Tuesday (September 16th) as investors took profits ahead of the Federal Reserve's highly anticipated September policy meeting. The S&P 500 fell 0.1%, the Dow Jones Industrial Average fell 125 points, and the Nasdaq Composite closed slightly below the flatline. Leading technology stocks including Nvidia, Microsoft, Alphabet, and Palantir declined, while financial and utility stocks also weighed on the overall market. Traders widely expect the Fed to cut interest rates by 25 basis points on Wednesday, marking its first rate cut since December, with the market...
European stocks closed sharply lower on Tuesday, pressured by aggressive losses in the financial sector as markets continued to assess the global interest rate outlook. The STOXX 50 fell 1.3% to 5,372, and the pan-European STOXX 600 fell 1.2% to 551. Traders were cautious ahead of this week's key monetary policy decisions from the Fed and the Bank of England, as well as Sino-US trade talks, while US President Trump began his visit to the UK today. Data-wise, the ZEW Economic Sentiment Index for Germany surprisingly showed an uptick, while UK employment data continued to indicate a slowdown...
The S&P 500 and the Nasdaq each gained 0.1% on Tuesday, setting fresh record highs after closing at all-time peaks in the previous session. The Dow Jones, however, hovered near the flatline. Investors stayed focused on the FOMC meeting, which begins today, with the Fed widely expected to deliver a 25bps rate cut tomorrow. On the data front, both retail sales and industrial production surprised to the upside, while export and import prices also exceeded forecasts. Still, the figures did little to alter market expectations for Fed policy. By sector, energy outperformed, while utilities and...
The Hang Seng ended little changed on Tuesday, hovering around 26,438 after dipping earlier in the session. Another record close on Wall Street Monday supported sentiment, as bets grew that the Fed will resume its easing cycle this week and leave the door open to further cuts. Strength in tech and consumer stocks helped offset weakness in property and financials, while traders digested a framework deal between the US and China to place TikTok under US-controlled ownership, with final approval expected in a Friday call between President Trump and Xi Jinping. The index tracked mainland...
European stocks traded in a muted fashion Tuesday, awaiting news from the Federal Reserve policy meeting while digesting key regional economic data. The DAX index in Germany dropped 0.1%, the CAC 40 in France slipped 0.2% and the FTSE 100 in the U.K. fell 0.1%. Fed meeting starts The Fed starts its latest two-day policy meeting later in the session, limiting activity as investors look for the U.S. central bank to cut interest rates at the conclusion on Wednesday, potentially offering global support. The Bank of England also meets later this week, but is widely expected to hold still on...
European stocks edged lower on Tuesday, with both the STOXX 50 and STOXX 600 slipping 0.2%, pausing after three straight sessions of gains. Traders turned cautious ahead of key monetary policy decisions this week from the Fed and the BoE, as well as China–US trade talks, while US President Trump begins his visit to the UK today. On the data front, markets await the ZEW Economic Sentiment Index for Germany, while UK labour figures continued to signal a slowdown in the job market. By sector, insurance, telecoms and banks led the declines, while basic resources and technology outperformed. In...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....