Oil prices surged approximately 2% to reach a one-week peak on Monday, driven by optimism surrounding increased fuel demand anticipated during the summer months, despite the strengthening of the U.S. dollar and expectations that the Federal Reserve (Fed) will maintain higher interest rates for an extended period. Brent futures climbed […]
crude oil
The spotlight on Wall Street in the week ahead will be on the US Federal Reserve’s June monetary policy decisions along with consumer inflation data and economic projections. The US central bank is widely expected to hold interest rates steady. Stronger-than-expected jobs data for May released on Friday has fuelled […]
Crude oil prices extended losses in the previous session, reporting a third straight weekly loss as investors weighed the reassurances by the Organisation of Petroleum Exporting Countries and its allies (OPEC+) against the latest US jobs data which lowered expectations that the US Federal Reserve will cut interest rates soon. […]
US stock indices were mixed after opening higher on Wednesday amid hopes for an earlier-than-expected cut in interest rates by the Federal Reserve. At 12:20 p.m. ET, the Dow Jones Industrial Average was down 4.89 points, or 0.01 per cent, at 38,706.40, the S&P 500 was up 35.69 points, or […]
Oil prices dropped by over $2 per barrel on Monday to reach multi-month lows, fueled by investor concerns regarding the demand trajectory. The complex OPEC+ output decision signaled a willingness among member countries to increase crude exports. On Sunday, OPEC+ extended the majority of its significant oil output reductions until […]
US stock indices gained on Monday, lifted by chip and megacap stocks. At the opening bell, the Dow Jones Industrial Average rose 23.67 points, or 0.06%, to 38,709.99. The S&P 500 was higher by 19.64 points, or 0.37%, at 5,297.15, while the Nasdaq Composite gained 130.69 points, or 0.78%, to […]
On Wall Street in the week ahead, spotlight will be on the jobs data for May, among other economic reports. The jobs data holds significance as it will be the last economic report before the Federal Reserve’s upcoming monetary policy meet on June 11-12. Investors are hoping for a interest […]
US stocks slid on Thursday after the revised data showed the US economy grew less than previously expected in the first quarter. US gross domestic product (GDP) growth for the first quarter was lowered to 1.3 per cent from previous estimate of 1.6 per cent. At 12:04 p.m. the Dow […]
Oil prices extended gains and hit a four-week high on Wednesday, May 29, over expectations that the Organisation of Petroleum Exporting Countries and its allies (OPEC+) will extend output cuts at its upcoming policy meeting on June 2. Crude also gained on hopes that the fuel consumption or demand will […]
US stock indices edged lower on Wednesday, as concerns around the timing and scale of the Federal Reserve’s interest rate cuts pushed Treasury yields higher. Treasury yields rose to near four-week highs after unexpectedly strong consumer confidence data. The 10-year yield rose to 4.58 per cent from 4.54 per cent […]