Oil Treads Water Ahead of OPEC+ Panel Meeting, PCE Inflation Data

Oil treads

Oil prices moved little on Friday and were set to end the week flat amid caution over an upcoming OPEC+ panel meeting, as well as more cues on the U.S. economy from a reading on the Federal Reserve’s preferred inflation gauge. Ministers from Algeria, Kuwait, Venezuela, Russia and Oman are set to meet virtually next […]

Flavour Maker Givaudan Beats Earnings Forecasts in a Tough Year

Flavour maker Givaudan

Swiss fragrance and flavour maker Givaudan on Wednesday reported better-than-expected earnings for a year characterized by high input costs and supply chain disruptions. The group, which so far has successfully passed steep input cost increases on to customers, however saw a slowdown in sales during the latter half of 2022, particularly in its flavours business […]

Oil Rises After Steep Losses, But Recession Fears Limit Gains

Oil rises

Oil prices rose on Wednesday, recovering a measure of sharp losses from the prior session, although fears of a global recession and signs of another major build in U.S. inventories kept gains limited. Crude prices have fallen into a holding pattern over the past month, with markets constantly weighing the prospect of slowing global economic […]

Indian Stocks Rise On Strong Bank Earnings, Asian Markets Advance

Indian stocks

Indian stocks rose on Monday following a series of strong earnings from heavyweight bank stocks, while broader Asian stocks rose slightly, although market holidays dulled trading volumes across most of the region. India’s BSE Sensex 30 and Nifty 50 indexes rose 0.7% each, buoyed largely by major bank stocks following better-than-expected results from ICICI Bank […]

Oil Prices Rise As China Optimism Grows Ahead of Lunar New Year

Oil prices rise

Oil prices rose further on Friday, and were set to end the week higher as optimism over an eventual recovery in Chinese demand this year largely offset fears that a global economic slowdown will dent crude markets. Markets are betting on a strong boost to the Chinese economy from the week-long Lunar New Year holiday, […]

BOJ keeps Record-Low Rates Unchanged, Maintains Yield Curve Control

BOJ keeps record

The Bank of Japan (BOJ) kept its benchmark interest rates unchanged as expected on Wednesday, and also maintained its current rate of yield curve control, ducking market expectations for more hawkish signals. The Japanese yen plummeted after the move, dropping over 2% to 130.75 against the dollar, while yields on benchmark Japanese government bonds slumped […]

China Q4 GDP Slows on COVID Woes, But Beats Expectations

china q4 gdp

The Chinese economy grew at a slower pace in the fourth quarter of 2022, data showed on Tuesday, as disruptions caused by the country’s now relaxed zero-COVID policy weighed heavily on business activity, although the reading still beat expectations. Chinese gross domestic product (GPD) grew at an annualized rate of 2.9% in the three months […]

China’s Dec Home Prices fall, More Supportive Policies Likely

China's Dec

China’s new home prices fell again in December as COVID-19 outbreaks hurt demand, with Beijing expected to roll out more measures to help sustain the recovery after the dismantling of pandemic curbs last month brightened the outlook. New home prices dropped both in monthly and annual terms, with continued weak demand a constraint to a […]

European Stock Futures Higher; U.K. GDP Grows in November

European stock

European stock markets are expected to open slightly higher Friday, with investors focusing on a deluge of important economic data, including U.K. growth data for November, as well as earnings from the U.S. banking sector. At 02:00 ET (07:00 GMT), the DAX futures contract in Germany traded 0.1% higher, CAC 40 futures in France climbed […]

China Manufacturing PMI Shrinks for 5th Straight Month in Dec – Caixin

China manufacturing

Chinese manufacturing activity shrank for a fifth straight month in December, a private survey showed on Tuesday, as the country grappled with an unprecedented spike in COVID-19 cases after it relaxed some restrictions intended to prevent the spread of the virus. The Caixin Manufacturing Purchasing Managers Index (PMI) read 49.0 in December, higher than forecasts […]