EUR/USD 1.15209
0.034%
Gold 4134.70
1.653%
Oil 58.821
1.635%
USD/JPY 156.910
0.334%
GBP/USD 1.31038
-0.006%
GBP/JPY 205.602
0.322%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to The Information, Meta Platforms (META.O) is considering spending billions of dollars to purchase Googles TPUs, including for use in Metas data centers.SanDisk (SNDK.O) shares surged more than 10% in after-hours trading after the company was included in the S&P 500 index.S&P predicts that Canadas unemployment rate will gradually decline from 2026.On November 25th, Deutsche Bank Research Institute pointed out that 2026 will see another strong rally driven by artificial intelligence, with the S&P 500 index expected to break through the 8,000-point mark by the end of next year. Jim Reid, Global Head of Macro and Thematic Research at the bank, said on Monday: “Rapid investment and application in the AI field will continue to dominate market sentiment. Given the rapid momentum of technological progress, we have good reason to believe that this will translate into substantial productivity gains in the future. However, the ultimate winners and losers will depend on a complex interplay of multiple factors, many of which may not become apparent until after 2026.” Reid added, “The 8,000-point year-end target set by our US equity strategist (the most optimistic analyst on the team) is particularly noteworthy, given their excellent track record of predictions.”On November 25th, U.S. stocks rose across the board on Monday, rebounding during the Thanksgiving holiday week after a decline that had dampened the previous AI bull market. Google shares performed strongly on Monday, closing up more than 6%. Investors have become more optimistic about the companys position in the AI competitive landscape. Google released an upgraded AI model, Gemini 3, last week, just eight months after the release of Gemini 2.5. "This is certainly good for Google and its investors, but Im always wary when I see a single stock leading the market," said Melissa Brown, managing director of investment decision research at SimCorp. "This doesnt necessarily mean a comprehensive improvement in market fundamentals. In my view, its unlikely to be a sustainable driver of a sustained market rally." Market volatility could increase as trading volumes are expected to be thin in the coming days and there is a lack of significant catalysts ahead of the Federal Reserves December policy meeting. Brown pointed out that upcoming economic data—including September retail sales and producer price indices released on Tuesday—could signal a "stagflationary environment" and could become a new trigger for volatility.

Oil prices fall owing to rising U.S. stocks and weaker demand

Skylar Williams

Jul 13, 2022 11:03

6.png


Oil prices dipped in early Asian trade on Wednesday with the release of U.S. inventory data indicating a rise in crude oil and refined products, amid rising fears of a global economic slowdown.


Brent oil futures shed 68 cents, or 0.7 percent , to $98.81 a barrel at 0002 GMT. The price of U.S. West Texas Intermediate crude oil dropped 72 cents, or 0.8 percent, to $95.12 a barrel, which is also the lowest level in three months.


Concerned that aggressive interest rate increases to battle inflation may precipitate a recession, which will severely influence oil consumption, investors have sold their oil holdings. Due to volatile trading, prices dropped by more than 7 percent in the previous session.


China's renewed COVID-19 travel restrictions had an effect on the market. Multiple cities in the world's second-largest economy have enacted further restrictions, ranging from firm closures to wider lockdowns, to prevent the spread of a highly dangerous virus strain.


During the week ending July 8, crude oil stocks climbed by around 4.8 million barrels in the United States. According to market sources citing data issued by the American Petroleum Institute on Tuesday, gasoline supplies grew by 3 million barrels, while distillate stockpiles increased by 3,3 million barrels.


The dollar index, which compares the dollar to a basket of six other currencies, reached its highest level since October 2002 on Tuesday, reaching 108.56.


Since oil is frequently priced in U.S. dollars, a stronger dollar makes the commodity more expensive for foreign currency holders. During times of market volatility, the dollar is often viewed as a safe haven by investors.


Suggestion