Oil steadied after the biggest drop in almost three weeks, as traders look to reports this week to assess the extent of the glut. Brent crude traded above $62 a barrel after tumbling 2% on Monday, while West Texas Intermediate was near $59. The Energy Information Administration is set to release its Short-Term Energy Outlook on Tuesday, with reports due from the International Energy Agency and OPEC later this week. The IEA has predicted a record surplus next year, and traders will be on the lookout for any changes to market outlooks. Crude has traded in a tight $4-a-barrel...
Stocks climbed on Wednesday, with the S&P 500 hitting a fresh all-time high, as technology shares such as Oracle and Nvidiarallied on artificial intelligence optimism and President Donald Trump's new term in office. The S&P 500 advanced 0.61% after hitting an intraday record of 6,100.81, exceeding the last milestone touched in December before the market pullback. The broad index closed at 6,086.37, slightly below its all-time closing high. The Nasdaq Composite popped 1.28% to 20,009.34, underscoring the outperformance of tech names. The Dow Jones Industrial Average rose 130.92...
The Dow Jones Industrial Average (DJIA) continues to lean into the bullish on Wednesday, climbing around 100 points and inching towards 44,200 as equities tilt into the buy button. There aren't any particular reasons for a fresh bull run to kick off, but investors aren't finding any particular reason for a turn into the bearish side, either.After a campaign trail full of almost-daily threats of wide-sweeping tariffs on all of the US' trading partners, President Donald Trump's big plans for day-one tariffs have evaporated into the ether. Fresh threats of an ambiguous level of import tariffs...
Germany's DAX index closed at an all-time high on Wednesday for the second time this week as European equities were broadly higher. The pan-European Stoxx 600 closed 0.39% higher, while the DAX closed at a fresh record of 21,254 points, according to LSEG data. Sportswear giant Adidas helped boost the German index, with shares ending 6% higher after the company said sales grew by 19% in its fourth-quarter results after the market close on Tuesday. The athletic apparels maker said revenues were nearly 6 billion euros ($6.25 billion) in the last three months of 2024, stripping out currency...
European equity markets are set to open higher on Wednesday (1/22), continuing the positive momentum of recent sessions as U.S. President Donald Trump refrained from implementing his tariff threats into action, despite signing a series of executive orders. This provided some relief to global markets. EU Commissioner Valdis Dombrovskis also stated that Europe would respond proportionately to any U.S. tariffs to protect the region's economic interests. Meanwhile, there are no major data releases in Europe on Wednesday, although EasyJet is due to report its latest earnings. Euro Stoxx 50 and...
The Shanghai Composite fell 1% to around 3,210 while the Shenzhen Component dropped 1.1% to 10,185 on Wednesday, with the Shanghai index hitting a one-week low after U.S. President Donald Trump said his team was discussing 10% tariffs on Chinese imports that could come into effect as early as Feb. 1. Trump's comments overshadowed more positive developments from Friday, when he had a friendly phone call with Chinese President Xi Jinping, during which they discussed trade and fentanyl, among other topics. At the World Economic Forum, Chinese Vice Premier Ding Xuexiang stressed that there are...
Hong Kong stocks fell 319 points, or 1.6%, to 19,787 in early trading on Wednesday, ending a six-session rally after U.S. President Trump said he could impose 10% tariffs on all Chinese imports after excluding China from a list of countries he would soon target a day earlier.The Hang Seng fell from its highest level in nearly four weeks, weighed down by broad weakness. However, gains on Wall Street overnight helped limit further losses, as Trump is expected to announce a new investment push for AI, led by major companies including Softbank Group Corp., OpenAI and Oracle. At home, Hong...
The Nikkei 225 jumped 1.4% to above 39,500, while the broader Topix index rose 0.7% to 2,732 on Wednesday, hitting its highest level in almost two weeks and tracking gains on Wall Street overnight. The rally came as U.S. President Donald Trump opted not to implement his tariff threats, offering relief to global markets. Despite the gains, investors remained cautious ahead of the Bank of Japan's monetary policy decision later this week, with BOJ officials hinting at a possible interest rate hike. Nearly all sectors participated in the rally, with major blue-chip stocks, including Disco...
Asia-Pacific markets are set to open mostly higher on Wednesday (22/1), after Wall Street rose on President Donald Trump's less aggressive than expected tariff stance. Australia's S&P/ASX 200 rose 0.27% at the open. Japan's Nikkei 225 futures are pointing to a stronger open for the market. Futures in Chicago were at 39,405 and its Osaka counterpart was last trading at 39,270, compared with the index's previous close of 39,027.98. Hong Kong's Hang Seng Index futures were at 20,028, lower than the HSI's last close of 20,106.55. Investors will be watching for a Malaysian central bank...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
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....