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 S&P 500 and the Dow Jones Industrial Average ended Wednesday's session near the flatline as the postelection rally lost some steam. Traders also contemplated a key inflation report that was in line with expectations. The S&P 500 inched higher by 0.02% to close at 5,985.38, while the 30-stock Dow ticked up 47.21 points, or 0.11%, to 43,958.19. The blue-chip index added as much as 230 points earlier on Wednesday. The Nasdaq Composite ended the day with a 0.26% decline and closed at 19,230.74. The October consumer price index accelerated a tad to a 2.6% annual rate, matching the...
The Stoxx Europe 600 Index fell for the second day, dropping 0.1%, or 0.64 to 501.59. The index dropped to the lowest closing level since Aug. 12. Infineon Technologies AG contributed the most to the index decline, decreasing 4.7%. Intermediate Capital Group Plc had the largest drop, falling 7.2%. Today, 395 of 600 shares fell, while 192 rose; 15 of 20 sectors were lower, led by technology stocks. Source : Bloomberg
A gauge of global stocks dipped for a second straight session and U.S. Treasury yields were slightly lower in choppy trading as investors digested the latest U.S. inflation data and the path of interest rates from the Federal Reserve. The Labor Department said the consumer price index (CPI) rose 0.2% for the fourth straight month, in-line with expectations of economists polled by Reuters. In the 12 months through October, the CPI advanced 2.6%, also matching forecasts, after climbing 2.4% in September. Treasury yields fell after the data, but reversed course somewhat to once again put...
The Hang Seng Index fell for the fourth day, dropping 0.1%, or 23.43 to 19,823.45 in Hong Kong. The index dropped to the lowest closing level since Sept. 25. Hong Kong Exchanges & Clearing Ltd. contributed the most to the index decline, decreasing 1.0%. WuXi AppTec Co. had the largest drop, falling 4.1%. Today, 52 of 82 shares fell, while 23 rose; all sectors were lower, led by properties stocks. Source : Bloomberg
The Hang Seng fell 23 points or 0.12% to end at 19,823 on Wednesday, closing in the red for the fourth session amid a sharp drop in US futures as concerns built that US President-elect Donald Trump's planned policies might fuel inflation and slow the pace of interest rate cuts. Markets hit their lowest in nearly seven weeks, dragged by the potential appointment of China hawks to key US cabinet positions, which could lead to a tougher stance on trade and tariffs against Beijing. Property and financials mainly retreated, with investors staying vigilant ahead of key US inflation data and...
European equity markets were poised for a lower open on Wednesday as investors prepared for key US inflation data that could influence the Federal Reserve's next policy move. Market participants also continued to assess the potential impact of US President-elect Donald Trump's policies on European economies and financial markets. Traders will focus on earnings reports from several major European companies, including ABN Amro, Allianz, Siemens Energy, SSE, and RWE, while no major economic data is scheduled for release. In premarket trading, Euro Stoxx 50 and Stoxx 600 futures were down...
The Nikkei 225 Index fell 0.7% to around 39,100 while the broader Topix Index lost 0.3% to 2,733 on Wednesday, tracking losses on Wall Street overnight as the market took a breather from the postelection rally. Domestically, data showed that Japan's producer prices rose at the fastest pace in 14 months in October, highlighting ongoing inflationary pressures. Investors also continued to evaluate the impact of Japan's 10 trillion yen stimulus plan for AI chipmakers which aims to strengthen critical supply chains amid ongoing US-China trade tensions. Technology stocks led the declines, with...
The Nikkei 225 index fell 0.7% to around 39,100 while the broader Topix index fell 0.3% to 2,733 on Wednesday, tracking losses on Wall Street overnight as markets took a breather from a post-election rally. Domestically, data showed that Japanese producer prices rose at the fastest pace in 14 months in October, highlighting ongoing inflationary pressures. Investors also continued to assess the impact of Japan's 10 trillion yen stimulus plan for AI chipmakers aimed at strengthening critical supply chains amid ongoing U.S.-China trade tensions. Technology stocks led the declines, with...
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....