Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more "noise" than signals of a short-term surplus. As of 3:50 PM WIB, Brent was at $69.60/barrel (+0.29%) and WTI was at $64.83/barrel (+0.31%). The gains were moderate, but enough to keep prices near the psychological $70 level for Brent. From a geopolitical perspective, market focus is on the potential for escalation in the Middle East. Recent reports...
Asian stock markets slumped on Monday and U.S. equity futures pointed sharply lower after U.S. President Donald Trump's tariffs on Canada, Mexico and China triggered fears of a broad trade war and hit to global growth. The U.S. dollar shot to a record high against the Chinese yuan in offshore trading, and jumped to the highest since 2003 against Canada's currency and the strongest since 2022 versus Mexico's peso. Source: Reuters
US stocks rose on Friday, with the S&P 500 up 0.5%, the Nasdaq up 0.9% and the Dow Jones up about 90 points, boosted by a nearly 4% jump in Apple shares. The tech giant reported a 4% increase in revenue and issued a positive outlook for the current quarter, even as iPhone sales missed expectations. Intel, meanwhile, rose 1% and AbbVie jumped about 7.6% after its earnings and revenue beat expectations. On the other hand, Exxon Mobil fell 0.8% after its earnings missed estimates and Chevron shares fell about 2.2% as its refining business posted its first loss since 2020. On the data...
European equity markets are set to open little changed on Friday after hitting record highs in the previous session, supported by strong earnings and a favorable policy environment. On Thursday, the European Central Bank cut its main deposit rate by 25 basis points, as expected, and signaled that further cuts could follow. Recent data showed that the euro zone economy unexpectedly stalled in the last quarter, led by contractions in Germany and France. On the corporate side, Swiss pharmaceutical company Novartis reported better-than-expected fourth-quarter sales, which rose 16% to $13.2...
Japanese stocks rose after the close on Friday (1/31), as gains in the Rubber, Transportation and Glass sectors boosted shares. At the close in Tokyo, the Nikkei 225 gained 0.34%. The best performers on the Nikkei 225 were NEC Corp. (TYO:6701), which rose 18.38% or 2,410.00 points to trade at 15,525.00 at the close. Meanwhile, Tokyo Gas Co., Ltd. (TYO:9531) gained 7.04% or 289.00 points to close at 4,392.00 and JTEKT Corp. (TYO:6473) gained 6.39% or 73.50 points to 1,224.00 at the close. The worst performers on the session were Hino Motors, Ltd. (TYO:7205), which plunged 12.24% or 71.10...
The Nikkei 225 Index edged up 0.15% to around 39,570, while the broader Topix Index gained 0.3% to 2,790 on Friday, marking a third consecutive day of gains for Japanese shares as investors responded positively to strong economic data. Retail sales in Japan exceeded expectations in December, and industrial production returned to growth. The country's unemployment rate also dropped to 2.4% in January, down from 2.5% in the previous two months, defying forecasts of no change. Local stocks also drew support from a positive lead on Wall Street, where solid earnings from major US tech companies...
Stocks wavered on Thursday after President Donald Trump reiterated his tariff threats. The Dow Jones Industrial Average popped 168 points, or 0.4%. At its session highs, it had added nearly 300 points. The S&P 500 rose 0.5%, while the Nasdaq Composite gained 0.3%. Stocks cut gains late in the session after President Donald Trump announced his intention to implement 25% tariffs on goods imported from Canada and Mexico.Elsewhere, Wall Street digested recent quarterly results from a slew of megacap tech companies. Shares of Meta Platforms and Tesla respectively added 1% and 3%, while...
Europe's benchmark index closed at a record high on Thursday, led by real estate stocks, as investors priced in more monetary policy easing by the European Central Bank this year and assessed a mixed bag of corporate results.The ECB lowered borrowing costs by an expected 25 basis points to 2.75% and kept the door open to further policy easing as concerns over lacklustre economic growth superseded worries about persistent inflation.The decision came on the heels of data showing the euro zone economy unexpectedly stagnated last quarter. Traders now expect about 70 bps worth of rate cuts by...
European stock markets rose on Thursday, as investors digested a flood of corporate earnings ahead of the European Central Bank's latest policy decision and the release of regional growth data. At 3:05 a.m. ET (08:05 GMT), Germany's DAX was up 0.2%, France's CAC 40 was up 0.3% and the U.K.'s FTSE 100 was up 0.1%. European equities benefited on Thursday from a rise in U.S. stock futures after the release of quarterly results from a number of megatech companies after the previous session's close, following the Federal Reserve's decision to keep interest rates unchanged. However, attention...
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....