Oil slides as U.S. gasoline stocks climb for a fifth week
Oil prices dropped on Thursday as U.S. gasoline stockpiles, the world’s biggest oil consumer, climbed for a fifth straight week. Still, a drawdown in crude inventories helped cap losses.
Brent crude oil futures were down 0.2%, ...
U.S. service sector decelerates in April
The services industry of the United States posted a mild contraction in April. The deceleration could be attributed to shortages of inputs as the country’s large stimulus package and improving public environment boosted demand.
The Institute ...
U.S. private payrolls reach historic peak in seven months
U.S. private payrolls reached their highest level in seven months in April. The expansion was mainly from an increase in production brought about by surging demand. This indicated that the economy was gaining tighter momentum on the government’s ...
Gold up ahead of U.S. job data release
Gold edged up in Asian trade on Thursday ahead of the release of U.S. non-farm payroll data, and the benchmark 10-year U.S. Treasury yield and the dollar also rose.
Gold futures improved 0.27% to $1,789.15.
The U.S. ADP Nonfarm Employment ...
Asian shares stagnant; holidays minimize tech plunge
Asian share markets traded cautiously for four consecutive sessions on Wednesday. This followed after investors’ sentiment was dampened by a tech selloff in Wall Street and rising interest rates in the United States.
Holidays in Japan, ...
Lyft posts sustained profit on cost cuts, upbeat demand
Lyft Inc posted better-than-expected profits on Tuesday. More so, it pledged to deliver dependable and seasonally adjusted profits in the third quarter as cost reduction allowed the company to earn more.
For five consecutive days, Lyft’s ...
Oil rises on steep U.S. crude stocks drop
Oil prices climbed almost 1% on Wednesday, extending overnight gains after industry data showed U.S. crude inventories slid more than expected last week. The decline reinforced bullish views on fuel demand in the United States.
U.S. West Texas ...
Dollar rallies as risk appetite fades
The dollar reached a two-week high on Tuesday as risk appetite faded amid a stock sell-off. This came after U.S. Treasury Secretary Janet Yellen said that interest rates may need to increase to prevent the economy from overheating.
The dollar’s ...
European stock futures mixed on Wednesday
A sharp decline in the tech sector overnight ahead of a new round of corporate earnings caused mixed results for European stock markets on Wednesday.
Germany’s DAX futures gained 0.2%. CAC 40 futures in France declined 0.3%. The U.K.’s ...
Firming dollar, interest rate hike drag gold down
Gold had a lackluster start on Wednesday trade in Asia as the dollar strengthened and the interest rate hike concern grew.
Gold futures lowered 0.60% to $1,781.10. The greenback, which usually moves inversely to gold, was up on Wednesday.
According ...
Oil climbs over 1% as demand hopes boost sentiment
Oil climbed over 1% on Monday as China’s economic figures and speedy U.S. vaccination rollouts pointed to a strong demand recovery in the world’s two largest economies.
However, investors remain wary over worsening COVID-19 infections ...
Asian shares gain on recovery hopes
Asian share markets recorded a positive performance on Tuesday. The series of gains could be attributed to signs of recovery from the COVID-19 crisis as major economies across the world resumed their economic activity.
MSCI’s ...
U.S. manufacturing decelerates on restricted supply
The United States saw a decline in its manufacturing activity in April. The contraction came after inputs decreased on rising coronavirus vaccinations and massive fiscal stimulus.
The Institute for Supply Management’s index of national ...
RBA keeps rate near zero as economy recovers rapidly
The Reserve Bank of Australia kept its rates near zero for a fifth straight meeting on Tuesday and vowed to keep policy super loose for a prolonged period despite the rapid pace of the country’s economic recovery from the coronavirus ...
Gold shines over downbeat dollar
Gold shone on Monday in Asian trade as the dollar had a silent day for the first trading session of the month while investors await more U.S. economic data this week.
Gold futures edged up 0.36% to $1,774. The greenback, moving inversely proportional ...
Asian shares see weak session ahead of U.S. figures
Asian share markets recorded a subdued performance during their early Monday trade. This followed after China and Japan compressed volumes, with investors also waiting for a set of data showing that the United States is recovering ahead of ...
Aussie job ads advance on sustained labor demand
Job advertisements in Australia advanced for 11 consecutive months ended April. The jump, which came to be the strongest in 12 years, underscored labor’s capability to maintain its momentum without the government’s emergency support ...
