Markets

Saudi Aramco plans to raise billions by issuing international bonds, as low oil prices and a grim demand outlook loom over its finances

Saudi Aramco, the world’s biggest oil company, will issue a multi-tranche international bond, according to a filing with the national stock exchange. The company has hired Citi, Goldman Sachs International, HSBC, JP Morgan, Morgan Stanley and NCB Capital to underwrite the sale. Aramco did not specify how large the dollar-denominated […]
Saudi Aramco plans to raise billions by issuing international bonds, as low oil prices and a grim demand outlook loom over its finances
Markets

Oil tanks 6% on surging COVID-19 cases and inventory build-ups

Oil futures tanked on Wednesday as escalating coronavirus fears and surging US stockpiles drove new uncertainty around the commodity market’s recovery. West Texas Intermediate crude sank as much as 6.4%, to $US37.04 per barrel. Brent crude, oil’s international standard, tumbled 5.8%, to $US38.83 per barrel, at intraday lows. A global […]
Oil tanks 6% on surging COVID-19 cases and inventory build-ups
Markets

Goldman Sachs forecasts a structural bull market emerging for commodities in 2021- here is the breakdown of their analysis

Structural under-investment, increased stimulus and the weakening dollar are the foundation for Goldman Sachs’ bullish forecast, according to a research note published Thursday. The Goldman analysts recommend a long position on its carbon-neutral commodity index for ESG investors. Goldman increase their forecasts for soya and corn, leaving gold unchanged. A […]
Goldman Sachs forecasts a structural bull market emerging for commodities in 2021- here is the breakdown of their analysis
Markets

US stocks climb on investor hopes for stimulus ahead of Tuesday deadline

US stocks gained as investors maintained optimism for Democrats and Republicans to pass fresh stimulus ahead of the November elections. House Speaker Nancy Pelosi expedited talks on Sunday, setting a 48-hour deadline for the White House and Democrats to reach a compromise. Even if a deal is reached, it’s set […]
US stocks climb on investor hopes for stimulus ahead of Tuesday deadline
Markets

US stocks rebound on tech rally amid volatile trading

US stocks climbed on Friday, recovering a portion of Thursday’s market sell-off that was led by technology stocks. Stocks are set to record their first back-to-back week of losses since March, when the COVID-19 pandemic was front and centre in investors’ minds, absent of a strong Friday rally. Oil fell […]
US stocks rebound on tech rally amid volatile trading
Markets

Oil plunges after Fed and OPEC+ sound alarms on long-term demand weakness

Oil contracts sank on Thursday after gloomy commentary from the Federal Reserve and OPEC+ weighed on hopes for a market recovery. West Texas Intermediate crude fell as much as 3.3%, to $US41.50 per barrel. International benchmark Brent crude dropped 3%, to $US44.02 per barrel, at intraday lows. Fed officials expressed […]
Oil plunges after Fed and OPEC+ sound alarms on long-term demand weakness
Markets

Oil rises after Saudi Aramco sees Asia demand nearing full rebound

Crude oil futures rose on Monday after Saudi Aramco issued a bullish forecast for market demand. The oil producer’s CEO said Sunday he sees Asian demand nearing pre-pandemic highs as economies reopen. West Texas Intermediate crude jumped as much as 1.8%, to $US41.96 per barrel, while international standard Brent crude […]
Oil rises after Saudi Aramco sees Asia demand nearing full rebound
Markets

Dow falls 397 points as coronavirus concerns smother tech rally

US equities slumped on Tuesday, ending a five-session winning streak as soaring COVID-19 infections across the nation revived fears of a prolonged recession. Facebook, Apple,Amazon, and Netflix all notched intraday record highs, but their gains failed to pull the Nasdaq composite out of a single-day loss. A new report from […]
Dow falls 397 points as coronavirus concerns smother tech rally
Markets

Dow slips 220 points as spiking COVID-19 cases dent economic-reopening hopes

US equities slid on Tuesday as spiking COVID-19 infections across the nation revived fears of a lengthy economic downturn. A new report from the Organisation for Economic Co-operation and Development described the virus’s labour-market fallout as “far worse than” that seen during the financial crisis. Economic-reopening plays including airlines and […]
Dow slips 220 points as spiking COVID-19 cases dent economic-reopening hopes
Markets

Oil plummets 8% on 2-pronged threat from COVID resurgence and inventory increase

Oil prices slumped on Wednesday as investors stared down a larger-than-expected jump in US crude inventories and surging COVID-19 case counts in several states. Inventories leaped by 1.75 million barrels to 545 million barrels last week, according to an American Petroleum Institute report seen by Reuters. Economists expected a build-up […]
Oil plummets 8% on 2-pronged threat from COVID resurgence and inventory increase
Markets

Dow rises 154 points as economic recovery outweighs growing coronavirus cases

US stocks rose on Monday as investor focus on continued economic-reopening progress offset spiking global coronavirus cases. Gold rose, nearing its highest level since 2012, as investors bought the safe-haven asset. New coronavirus cases have hit records in some US states and continue to increase globally. Read more on Business […]
Dow rises 154 points as economic recovery outweighs growing coronavirus cases
Markets

Dow dives 700 points on mounting fears of a 2nd virus wave

US equities sank on Monday as investors turned less optimistic towards a sharp economic recovery. Fears of a second wave of COVID-19 cases intensified, with Texas and North Carolina reporting record hospitalizations on Saturday. California, Alabama, and Florida notched sharp increases in daily cases. Airline stocks including Delta, United, and […]
Dow dives 700 points on mounting fears of a 2nd virus wave
Markets

US stocks decline amid renewed US-China tensions, historic jobless claims

US stocks dipped on Thursday amid renewed tensions with China. The nation responded to recent accusations from President Trump by saying it could take countermeasures. The losses also came amid data that showed jobless claims reached 2.4 million for the week that ended on Saturday. The Labour Department’s latest data […]
US stocks decline amid renewed US-China tensions, historic jobless claims
Markets

US stocks edge higher as new data shows millions more jobs lost

US stocks edged higher on Thursday after jobless claims for the week ended May 16 reached 2.4 million. The Labour Department’s latest data brings the metric’s nine-week total to nearly 39 million. Unemployment filings have now topped the 37 million claims made during the 18-month-long financial crisis. The oil rally […]
US stocks edge higher as new data shows millions more jobs lost
Markets

Dow spikes 912 points as vaccine progress spurs economic-reopening optimism

US stocks surged on Monday as Moderna announced that its coronavirus vaccine candidate had shown encouraging progress. In a small number of healthy volunteers, Moderna’s vaccine helped create immune responses that may help protect people from being infected with the novel coronavirus. Investors have been closely watching for updates that […]
Dow spikes 912 points as vaccine progress spurs economic-reopening optimism
Markets

Dow gains 125 points as investors weigh economic reopening, oil rallies

US stocks rose Tuesday as investors continued to weigh economic-reopening efforts worldwide. The Federal Reserve Bank of New York said on Monday that it will begin buying corporate-bond exchange-traded-funds Tuesday. A measure of consumer prices excluding food and fuel in April posted the biggest monthly drop since 1957. WTI crude […]
Dow gains 125 points as investors weigh economic reopening, oil rallies
Markets

Dow slides 250 points as economic-reopening concerns intensify

US stock indexes sank on Monday as investors mulled the risks of unwinding months-long lockdowns. Economists are warning of a prolonged economic downturn should state reopenings fuel a second wave of coronavirus cases. West Texas Intermediate crude oil climbed as much as 3% after Saudi Arabia said it would cut […]
Dow slides 250 points as economic-reopening concerns intensify
Markets

Dow gains 211 points as strong earnings eclipse gloomy jobless-claims data

US equities climbed on Thursday as positive earnings reports overshadowed dismal jobless-claims data. Bristol-Myers Squibb, Peloton, and Lyft all bested quarterly estimates. Moderna further lifted investor sentiments, surging to record highs after announcing that the FDA approved its coronavirus drug for a phase-two study. WTI crude oil climbed as much […]
Dow gains 211 points as strong earnings eclipse gloomy jobless-claims data
Markets

US stocks climb on economic reopening hope, oil-price rebound

US stock indexes climbed on Tuesday as gradual reopenings across several states and an extended oil rally boosted investor optimism. West Texas Intermediate crude oil soared as much as 22%, to $US24.85 per barrel, pushing its rally into a fifth day and marking a sharp rebound from its late-April lows. […]
US stocks climb on economic reopening hope, oil-price rebound
Markets

Dow jumps 300 points as oil-price recovery extends into its 5th day

US stock indexes jumped on Tuesday as reopenings across several states and an extended oil rally boosted investor optimism. West Texas Intermediate crude oil soared as much as 14% to $US23.35 per barrel, pushing its rally into a fifth day and marking a sharp rebound from its April 21 lows. […]
Dow jumps 300 points as oil-price recovery extends into its 5th day
Markets

US stocks climb amid rally in tech shares, oil prices

US stocks rose Monday, reversing early-day losses, as crude oil prices rallied for a fourth straight day. Energy and mega-cap tech stocks led the way higher. Investors shrugged off renewed concerns over a further escalation of the long-running conflict between the US and China. Airline stocks slipped after the famed […]
US stocks climb amid rally in tech shares, oil prices
Markets

Dow tumbles 622 points as major tech earnings disappoint investors

US stock indexes slid on Friday after quarterly reports from mega-cap tech players disappointed investors. Amazon’s first-quarter profit landed below Wall Street estimates, while Apple’s decision to withhold guidance for the first time in a decade dragged on trader sentiments. Oil extended its rebound to a third day, with WTI […]
Dow tumbles 622 points as major tech earnings disappoint investors
Markets

Dow tumbles 350 points as major tech earnings land short of hopes

US stock indexes slid on Friday after quarterly reports from mega-cap tech players disappointed investors. Amazon’s first-quarter profit landed below Wall Street estimates, while Apple’s decision to withhold guidance for the first time in a decade dragged on trader sentiments. Oil extended its rebound to a third day, with WTI […]
Dow tumbles 350 points as major tech earnings land short of hopes
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