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...
Asia-Pacific markets mostly fell on Wednesday after Wall Street gained overnight. India's markets will also be in focus as the U.S. tariffs take effect. The country currently faces additional tariffs of up to 50% on exports to the U.S., after the Trump administration escalated tariff threats in response to its substantial imports of Russian energy. Japan's Nikkei 225 slipped 0.17%, and the Topix lost 0.3%. South Korea's Kospi declined 0.17% and the small-cap Kosdaq lost 0.16%. Australia's S&P/ASX 200 added 0.23%. Futures for Hong Kong's Hang Seng index stood at 25,626, pointing to a...
The S&P 500 closed 0.4% higher on Tuesday, bolstered by gains in Nvidia, as investors balanced optimism over corporate earnings with concerns about President Trump's unprecedented removal of Federal Reserve Governor Lisa Cook. The Dow Jones added 135 points, while the Nasdaq rose 0.4%. Nvidia shares jumped 1.1% ahead of its quarterly report on Wednesday, amid high expectations for the chipmaker in the context of ongoing US-China trade tensions, and Eli Lilly surged 5.8% after announcing its experimental diabetes pill significantly reduces body weight. Although several sectors,...
European stock markets retreated on Tuesday, pulled down by French equities as traders monitored the potential for the government to lose a confidence vote next month. France's CAC 40 index plummeted more than 2% in early deals before paring losses to around 1.6% by the end of the trading session. The country's three main opposition parties said they would not back a surprise confidence vote called by Prime Minister Francois Bayrou on Monday for Sept. 8 over his budget plans. Bayrou argues around 44 billion euros ($51 billion) in budget cuts are needed to reduce the French deficit, which...
US stocks inched lower on Tuesday, extending the slight drop from the previous session and trackingTreasury bonds amid fresh concerns over the independence of the Federal Reserve and new threats of tariffs. The three main equity indices were marginally below the flatline. President Trump started the process to fire Fed Governor Cook on allegations of mortgage fraud, extending the President's efforts to influence FOMC members amid persistent calls that interest rates should be over two percentage points lower. The dented demand for risk for equities, even if the dollar and long-maturity...
The Hang Seng Index plunged 305 points, or 1.2%, to close at 25,525 on Tuesday, after posting two consecutive days of gains amid widespread losses. Sentiment worsened after US index futures fell sharply following President Trump's firing of Fed Chair Lisa Cook and his threat of "200% tariffs" on China if rare earth magnet exports were restricted. Trump also vowed to retaliate against countries that regulate major US technology companies. The index retreated from a nearly four-year high on growing concerns that mainland Chinese stocks might weaken after a month-long rally that lifted the...
European stocks traded sharply lower on Tuesday, with the Stoxx 50 down by around 1%. French stocks tumbled as political turmoil deepened after Prime Minister Francois Bayrou called a Sept. 8 confidence vote that could topple the government. The CAC 40 fell 1.9%, dragging down European benchmarks, while the FTSE 100 slipped 0.6% on reopening after a holiday. Opposition parties, including the far-right National Rally, France Unbowed, and the Greens, vowed to vote against Bayrou, leaving the government vulnerable. Broader European markets remain under pressure from sluggish growth and...
The Nikkei 225 Index dropped 0.97% to close at 42,394, while the broader Topix Index fell 1.08% to 3,072 on Tuesday, snapping a two-day advance and mirroring overnight weakness on Wall Street as investors locked in profits after last week's rally. Market sentiment was also dented by renewed trade tensions after US President Donald Trump reportedly threatened to impose "200% tariffs or something" on China if it failed to export rare-earth magnets to the US. Adding to uncertainty, Trump announced the removal of Federal Reserve Governor Lisa Cook over alleged mortgage fraud, raising fresh...
Hong Kong stocks fell 98 points, or 0.4% to 25,734 in Tuesday morning's session, snapping a two-day rally after Wall Street closed lower as traders weighed U.S. President Trump's tariff threats. Trump reportedly warned of "200% tariffs or something" on China if it limits rare-earth magnet exports, and vowed retaliation against countries targeting U.S. Big Tech, calling such moves "discriminatory." The Hang Seng pulled back from its highest in almost four years as caution grew ahead of China's January–July industrial profit data, with sentiment weighed by trade frictions, weak demand, and...
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....