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...
Stocks rose at the end of their best week in 2024 after solid consumer sentiment data and bets that newly elected President Donald Trump's pro-growth agenda will keep fueling Corporate America. Equities advanced for a fourth consecutive session, with the S&P 500 on track for its 50th record this year. The gauge extended its weekly gain to 4.5%. The cohort of defensive shares took the lead on Friday after some groups hit "oversold" levels. The megacap space was mixed, with Tesla Inc. up and Nvidia Corp. down. While the post-election rally...
Japanese stocks rose after the close on Friday, as gains in the Textile, Shipbuilding and Steel sectors helped stocks advance. At the close in Tokyo, the Nikkei 225 was up 0.19%. The best performers on the Nikkei 225 were Japan Steel Works Ltd (TYO:5631), which rose 7.68% or 430.00 points to close at 6,031.00. Meanwhile, Ajinomoto Co., Inc. (TYO:2802) gained 7.35% or 433.00 points to close at 6,324.00 and Kawasaki Heavy Industries, Ltd. (TYO:7012) gained 5.25% or 348.00 points to close at 6,973.00. The worst performers on the session were Taiyo Yuden Co., Ltd. (TYO:6976), which plunged...
The Hang Seng Index fell 1.1% at 20,728.19 in Hong Kong. The move follows the previous session's increase of 2%. Meituan contributed the most to the index decline, decreasing 4.1%. Longfor Group Holdings Ltd. had the largest drop, falling 5.8%. Today, 59 of 82 shares fell, while 22 rose; all sectors were lower, led by commerce and industry stocks. Source : Bloomberg
European markets are expected to open mixed on Friday, as investors await corporate results and react to quarter-point interest rate cuts from the U.S. Federal Reserve and the Bank of England. The U.K.'s FTSE 100 is set to open 23 points higher at 8,166, Germany's DAX is up 45 points at 19,412, France's CAC is up 21 points at 7,445 and Italy's FTSE MIB is down 13 points at 33,689, according to data from IG. This comes as market participants continue to weigh political turmoil in Germany and Donald Trump's historic presidential election victory this week. Germany's DAX closed the previous...
The Nikkei 225 Index climbed 0.6% to around 39,600, while the broader Topix Index gained 0.5% to 2,756 on Friday, marking their highest levels in over three weeks after the US Federal Reserve cut interest rates by 25 basis points, further fueling the post-election rally. Investors were also looking ahead to potential stimulus announcements from China, as the National People's Congress Standing Committee wrapped up its five-day meeting. Domestically, data revealed that Japanese household spending in September declined, though at a slower pace than anticipated by the market. Notable...
European stocks regained ground on Thursday, boosted by technology and resources shares, while Britain's FTSE 100 dipped after the Bank of England cut interest rates but projected higher inflation following the new government's first budget. The pan-European STOXX 600 closed 0.7% higher, powered by a 2.2% bounce in the tech sector recouping losses from the previous session. Autos also added 2.2% after a more than 2% decline on Wednesday. Investors will now shift their focus to the U.S. Federal Reserve's interest rate decision at 1900 GMT. Europe's STOXX 600 gained as much as 1.9% in the...
Shares on Wall Street scaled record highs on Thursday, lifting stock markets around the world, while U.S. Treasuries yields retreated as investors processed a second Donald Trump presidency and awaited a Federal Reserve policy decision. The Fed is expected to cut interest rates by 25 basis points at the end of its policy meeting on Thursday, a decision that may seem a footnote given the uncertain economic terrain it may soon navigate under a second Trump administration. The S&P 500 rose 0.5%, the Dow Jones Industrial Average added 0.12%, and the Nasdaq Composite jumped 1.1%. All three...
The Hang Seng Index rose 2% at 20,953.34 in Hong Kong. The move follows the previous session's decrease of 2.2%. Meituan contributed the most to the index gain, increasing 5.6%. Haidilao International Holding Ltd. had the largest increase, rising 9.3%. Today, 65 of 82 shares rose, while 16 fell; all sectors were higher, led by commerce and industry stocks. Source : Bloomberg
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....