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...
The Dow Jones Industrial Average and S&P 500 touched new records on Monday, kicking off the shortened trading week as investors cheered President-elect Donald Trump's choice for Treasury secretary. The blue-chip Dow traded 382 points, or 0.9%, higher, while the broad S&P 500 gained 0.4%. Both hit new all-time highs in the session. The Nasdaq Composite added 0.5%. Monday brought a broad market rally as investors cheered Trump's plan to nominate Key Square Group founder Scott Bessent as Treasury secretary. More than 4 out of 5 S&P 500 stocks traded higher in the session, and the...
U.S. stocks climbed Monday as investors cheered President-elect Donald Trump's choice for Treasury secretary ahead of a shortened Thanksgiving trading week. The Dow Jones Industrial Average traded 460 points higher, or 1%. The S&P 500 gained 0.8%, and the Nasdaq Composite climbed 1%. Monday brought a broad market rally as investors applauded Trump's plan to nominate Key Square Group founder Scott Bessent as Treasury secretary. More than 450 S&P 500 stocks traded higher in the session, while the small cap-focused Russell 2000 advanced more than 1.5%. Investors viewed the pick...
Hong Kong stock market ended lower on Monday with the benchmark Hang Seng Index down 0.41 percent to close at 19,150.99 points. The Hang Seng China Enterprises Index fell 0.36 percent to end at 6,862.2 points, and the Hang Seng Tech Index edged down 0.26 percent to 4,235.31 points. Source : CTX
The Shanghai Composite fell 0.11% to close at 3,264 while the Shenzhen Component lost 0.17% to 10,421 on Monday, hitting their lowest levels in over a month as the People's Bank of China decided to keep its one-year medium-term lending facility rate unchanged at 2%, offering no new catalyst for the market. Last week, Chinese stocks faced pressure due to growing concerns over the economy and skepticism about the effectiveness of stimulus measures. Additionally, downward earnings revisions from major Chinese companies dampened investor sentiment, while markets braced for the potential impact...
European equity markets were poised for a higher open on Monday, extending gains for a third consecutive session amid improving market sentiment. The rally followed US President-elect Donald Trump's nomination of hedge fund manager Scott Bessent as Treasury Secretary, which helped reduce market uncertainty. In Europe, investors are set to assess Germany's Ifo Business Climate Index for November, which will provide insights into economic conditions. On the corporate front, UniCredit has proposed acquiring domestic rival Banco BPM for approximately 10 billion euros, potentially creating...
The Nikkei 225 Index jumped 1.3% to close at 38,780 while the broader Topix Index gained 0.71% to 2,716 on Monday, with Japanese shares rising for the second straight session after coming under pressure over the past two weeks. Local shares also mirrored gains in US futures, as President-elect Donald Trump nominated hedge fund manager Scott Bessent for Treasury Secretary, removing a source of uncertainty for markets. Looking ahead, investors are focused on Tokyo's inflation figures, due for release this week, as they are seen as a leading indicator of nationwide price trends. Technology...
Hong Kong stocks rose 21 points, or 0.12%, to 19,258 on Monday morning (11/25) after falling in the previous two sessions, mainly supported by gains in the financial sector. The market is trying to recover from a near two-month low after China's central bank kept the interest rate on its one-year medium-term lending facility unchanged at 2% for a second straight month following a record 30bps cut in September. Meanwhile, U.S. stock futures jumped as concerns over Donald Trump's impact on other countries' economies eased after the president-elect named Scott Bessent as Finance Minister....
The Nikkei 225 jumped 1.5% to above 38,800 while the broader Topix index gained 0.9% to 2,720 on Monday, with Japanese shares rising for a second straight session after suffering losses over the past two weeks. Local shares also mirrored Wall Street's gains, as strong U.S. economic data and optimism over the election outcome continued to support equities. Looking ahead, investors are focused on Tokyo's inflation figures, due later this week, as they are seen as a leading indicator of national price trends. Technology stocks led the rally, with significant gains from Lasertec (+3.2%), Tokyo...
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....