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...
Investors are expecting more gains for the U.S. stock market in 2025 after two straight standout years, fueled by a solid economy supporting corporate profits, moderating interest rates and pro-growth policies from incoming president Donald Trump. The benchmark S&P 500 is up roughly 24% year-to-date, even with a recent speed bump, and is on pace for its second straight year of gains exceeding 20%, lifted by megacap tech stocks and excitement over the business potential of artificial intelligence. Investors are more confident about the economy than this time a year ago, with consumers...
China's official Manufacturing Purchasing Managers' Index (PMI) eased to 50.1 in December, compared to 50.3 in the previous reading. The reading came in below the market consensus of 50.3 in the reported month. The NBS Non-Manufacturing PMI rose to 52.2 in December versus November's 50.0 figure and the estimates of 50.2. Source: FXstreet
Wall Street's main stock indexes hit their lowest point in over a week on Monday, as thin trading volumes and elevated Treasury yields overshadowed the typically robust year-end period for equities.At 11:45 a.m. ET, the Dow Jones Industrial Average fell 350.71 points, or 0.82%, to 42,641.50, the S&P 500 lost 52.08 points, or 0.87%, to 5,918.76 and the Nasdaq Composite lost 195.71 points, or 0.99%, to 19,526.32.All 11 S&P 500 sectors were in the red, with consumer discretionary leading declines. Growth stocks such as Tesla (NASDAQ:TSLA) and Amazon.com (NASDAQ:AMZN) dropped 2.2% and...
Wall Street's holiday cheer ended abruptly on Friday, with all three main benchmarks slumping in a broad-based sell-off affecting even tech and growth stocks that had driven markets higher through much of the shortened trading week. The Dow Jones Industrial Average was 0.98% lower at 1.39 p.m. ET, falling 422.63 points to 42,903.17. The index is on course to snap a five-session winning streak following a 10-session decline, its worst losing stretch since 1974. The S&P 500 slipped 1.38%, or 83.08 points, to 5,954.51, and the Nasdaq Composite declined 1.85%, or 371.34 points, to...
The number of Americans filing for unemployment benefits fell to 219K in the week ending Dec. 22, 2024. That was down from the 223K estimate and from the previous weekly reading of 220K before being revised down to 224K, the Labor Department said Thursday. Source: @Newsmaker23
Sales of new U.S. single-family homes rebounded in November after being depressed by hurricanes in the prior month, but rising mortgage rates could hamper sales next year. New home sales jumped 5.9% to a seasonally adjusted annual rate of 664,000 units last month, the Commerce Department's Census Bureau said on Monday. The sales pace for October was revised higher to a rate of 627,000 units from the previously reported 610,000 units. Economists polled by Reuters had forecast that new home sales, which account for about 15% of U.S. home sales, would rebound to a rate of 660,000 units. New...
The number of Americans filing new applications for jobless benefits fell more than expected last week, almost reversing the prior two weeks' increases and suggesting that a gradual labor market slowdown remained in place. Other data on Thursday showed the economy grew faster than previously estimated in the third quarter, driven by robust consumer spending. The upbeat reports came a day after the Federal Reserve delivered a third consecutive interest rate cut, but projected only two rate reductions in 2025, citing the economy's continued resilience and still-elevated inflation. Fed Chair...
The US economy expanded at a faster pace in the third quarter than previously estimated, owing in part to to stronger consumer spending and exports. Gross domestic product increased at a 3.1% annualized rate in the third quarter, the third estimate of the figures from the Bureau of Economic Analysis showed Thursday. That compared to a previous projection of 2.8%. Consumer spending was marked up to a 3.7% pace from 3.5%. The numbers reinforce the notion that the economy is still powering ahead despite expectations among forecasters for an eventual slowdown. The report comes...
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....