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 stocks moved mixed on Thursday after Wall Street rallied and pushed the S&P 500 to a new record. A decline in US producer price inflation (PPI) bolstered confidence that the Fed could cut interest rates again next week. Early in the session, Australia weakened while Japan fluctuated; US futures continued to edge higher. In the bond market, Treasuries stabilized after Wednesday's rally, while Australian and New Zealand debt strengthened. The dollar index tended to be flat and the yen strengthened against the greenback in early Asian trading—reflecting a "wait-and-see" mode ahead of...
The S&P 500 notched a second straight record-high close on Wednesday, as Oracle surged and cooler-than-expected inflation data supported expectations the U.S. Federal Reserve will cut interest rates next week. Oracle soared in its biggest one-day percentage gain since 1992 after the tech company pointed to a demand surge from AI firms for its cloud services. Its stock market value reached as high as $970 billion, leapfrogging the values of Eli Lilly, JPMorgan Chase and Walmart, and approaching Tesla's $1.1 trillion market value. AI-related chip stocks also rallied, with Nvidia,...
European stocks closed mostly lower on Wednesday with losses from tech, consumer defensive companies, and miners as markets continued to assess the outlook on global rates and geopolitical risk. The Eurozone's STOXX 50 closed dropped 0.2% to 5,378 and the pan-European STOXX 600 inched below the flatline to 552. The ECB is expected to leave borrowing costs unchanged tomorrow, though updated economic forecasts and guidance on the policy outlook will be closely watched. Geopolitical risks also remained in focus: Israel carried out strikes on Hamas targets in Qatar, while Poland intercepted...
The S&P 500 jumped to a fresh record on Wednesday after a reading on wholesale prices unexpectedly declined, a welcome development for investors clamoring for a Federal Reserve rate cut next week to boost the economy. Oracle shares led the gains with a more than 30% surge following an eye-popping forecast tied to artificial intelligence. The broad market index climbed 0.5%, while the Nasdaq Composite gained 0.3%. The Nasdaq, alongside the S&P 500, had reached a new all-time intraday high in the trading day. The Dow Jones Industrial Average lost 106 points, or 0.2%. Market sentiment...
The Hang Seng Index surged 262 points, or 1%, to close at 26,200 on Wednesday, rallying for a fourth straight session to a four-year high, driven by gains across all sectors. The index followed Wall Street's advance amid growing bets that recent US labor market weakness will prompt the Fed to cut interest rates by at least 25 basis points next week, with upcoming inflation data set to provide the final clue. In China, the sharpest CPI decline in six months in August rekindled hopes for fresh government support, potentially boosting the trade-in value of consumer goods, while producer...
European stocks have opened higher as a bit of political calm enters the market. The Stoxx 600 Index was up 0.6% in its third session of straight gains. Retailers led the rally as Inditex shares jumped after the Zara-owner said it has seen a strong start to the third quarter. Technology shares were also notable outperformers, with the sector getting a boost from a bullish outlook from US peer Oracle. Chipmaker TSMC also reported a 34% in August sales, adding to optimism that AI is set to be a big growth area for the industry. Meanwhile, France's CAC 40 index climbed 0.6% as President...
Japanese shares rose on Wednesday, tracking Wall Street gains, as traders bet U.S. labor market weakness would prompt a Federal Reserve rate cut next week. The Nikkei 225 rose 0.87%, or 378.38 points, to end at 43,837.67. Traders see a Fed rate cut next Wednesday as certain, with 7% odds on a half-point move, CME's FedWatch Tool showed. A week ago, markets still saw a chance of no cut, but weak payrolls shifted expectations. Producer and consumer inflation data this week are the final tests. In economic data, Japanese manufacturers' sentiment hit a three-year high in September, lifted by...
The Hang Seng Index opened higher today, gaining 104 points to reach 26,042, before extending its rise by 227 points, or 0.87%, to settle at 26,165. This marks the index's fourth consecutive day of increases. The Hang Seng China Enterprises Index also rose by 80 points, or 0.87%, to 9,323, while the Technology Index climbed by 105 points, or 1.8%, to 5,933. Trading volume on the main board reached HK$73.7 billion. In the technology sector, stocks showed mixed results. Tencent rose by 1.5%, Alibaba experienced a significant gain of 3.5%, and Meituan increased by 2.1%. However, Xiaomi Group...
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....