North America

Want some inspiration? Weekend Reads is a weekly roundup of what the Open Interest team has read, watched and listened to. This week, the Open?Interest team has chosen to focus on the 'race to reinvent critical mineral resources,'?oil benchmarks that are under pressure and great-power geopolitics. This weekend, we are reading... MIKE DOLAN is a columnist for ROI Finance & Markets. The Pew Research Center’s Global Attitudes Survey found that China was viewed as more favorable than the United States in 36 countries. The U.S. Department of Energy released this release by ROI Metals columnist ANDY HOME. It details five...

Asian markets fell sharply on the Friday. Equity benchmarks in Japan, Taiwan and China dropped as much as 6 percent, as global declines in technology stocks intensified. Japan's Nikkei benchmark 225 index has entered correction territory after falling more than 10% from its June 25 high. TAKAMASA ikeda, SENIOR PORTFOLIO MANGER,?GCI RESOURCES MANAGEMENT TOKYO : The Nikkei index is highly correlated to the SOX. The SOX index's growth was not sustainable, and a correction has occurred. A correction was expected, but is happening sooner than the market anticipated." The market is now unsure if hyperscalers can make returns to justify...

Oil prices increased on Friday as a result of the U.S. and Iran intensifying their attacks in the Gulf. Their broken 'truce' has limited oil flow out of the Strait of Hormuz, and 'Tehran asked the Houthi political organisation and military organization to be ready to close the Red Sea export route. Brent crude futures gained 70 cents or 0.83% to $84.93 a bar at 0312 GMT. U.S. West Texas intermediate futures also rose 81 cents or 1.03% to $79.76 a bar, erasing the losses of the previous session. Both benchmark contracts have gained nearly 12% in the past week....

The operator of Kazakhstan's Kashagan Oilfield announced?on Thursday? that an international arbitral tribunal has issued a restraining order prohibiting Kazakhstan from enforcing an environmental fine. The Kazakh Justice Ministry announced on Tuesday that Kashagan's operator must pay a fine of $4.90 billion ($2.3 trillion tenge) by July 20, 2012. The country is involved in arbitration with oil companies that work on its oilfields. It accuses them of environmental violations and corrupt practices. The North Caspian Operating Company, Kashagan’s operator, stated in a statement: "The Arbitral Tribunal has issued a Restraining Order which prohibits the Republic to take any measures to...

Stella Qiu gives us a look at what the future holds for European and global markets. The'monstrous' rally of Asian?chipmakers is now hitting a rough patch. The jitters can be seen in the extreme volatility of South Korea's KOSPI market, where 'wild swings' in chip giants like Samsung?Electronics or SK Hynix are a recurring occurrence. The index fell 6% on Friday, bringing it down to 27% below its peak in June and increasing the pain of some leveraged retail funds. This tumble is a confirmation of investors' concerns at a moment when everyone is concerned about the rising costs of...

Asian shares dropped on Thursday, as chipmakers stumbled before results from bellwether TSMC. Bonds benefited 'from another benign reading of U.S. inflation which?lessened risk of an impending rate hike. As hostilities escalated in the Middle East, oil prices continued to rise. Washington has continued to strike Iran following the re-imposition of a naval blocade on its ports. Meanwhile, Tehran has warned of an "existential conflict" with America. Brent crude futures increased 0.6% to $85.45 per barrel, adding to the 12% gain this week. The quarterly earnings of Taiwan Semiconductor Manufacturing Co. (TSMC), world's leading manufacturer of advanced AI chip, are...

The stock market rose on Wednesday, bonds were stable and oil was down as the U.S. dropped its plan to tax shipping through the Strait of Hormuz. South Korea's volatile KOSPI index jumped 6%, while Japan's Nikkei climbed 1%. However, volume was low and mood nervous due to the slowdown in AI stocks. ASML, Europe’s most valuable company, and the world’s largest supplier of chipmaking machinery, has beaten revenue expectations, and will likely set the tone for the European Open. The European futures declined by 0.2%, the FTSE futures dropped 0.3% and Nasdaq Futures rose 0.8%. The U.S. consumer price...

Tom Westbrook gives us a look at what the future holds for European and global markets. The AI rally is experiencing some speed wobbles as Europe's?valuable? company and top supplier of chip making equipment?reports Wednesday. ASML is the only manufacturer of the lithography machines that cost $300 million and are used to create the circuitry for cutting-edge chips. LSEG estimates show that it is expected to report an 8.8% increase in the second-quarter's net profit of 2.61 billion euro ($2.99 billion), on a revenue growth of 14% at 8.8 billion euro. Analysts also expect the company's revenue forecast for the...

Oil prices rose on Wednesday after?President Donald Trump reimposed his naval blockade against all Iranian ports and Tehran launched attacks on U.S. Infrastructure in the region. Brent futures rose?99 cents or 1.2% to $85.72 per barrel at 0400 GMT. West Texas Intermediate futures rose 64 cents or 0.8% to $79.98 per barrel. Tuesday, oil prices rose 2% to a new one-month high as attacks intensified a supply disruption along the Strait of Hormuz. This is where a fifth of all the world's liquefied gas and oil passed before the U.S./Israeli war on Iran. "While the physical market for oil is...

U.S. Stock Futures traded in choppy trade on Tuesday, after President Donald Trump announced that the U.S. was reinstating its ban on Iranian shipping. Investors also 'picked through' the earnings reports from Wall Street’s largest banks. The U.S. Military carried out strikes against Iran overnight. President Donald Trump reinstated the blockade of Iranian ships and proposed charging a fee of 20% to guard Strait of Hormuz. S&P futures were 0.1% lower during early European trading, while Nasdaq's futures remained 0.5% higher. Brent crude futures rose around $2.80 to $86.19 per barrel, the highest since mid-June. U.S. Crude Futures rose $1.60...

Western governments are re-arming, but may be spending billions on the wrong arsenals. Drones and algorithms are just as important as tanks and missiles. Ukraine could be in a good position to show what the West needs today. Last week, at the NATO summit held in Ankara (Turkey),?U.S. The President Donald Trump, Secretary of State Marco Rubio, and others noted that Ukraine was able to use drone technology to strike Russian energy infrastructure. They called this an "escalation," which they believed could lead to the resolution of the conflict. The European Union is looking to rearm itself, due to the...

Oil hit a new one-month high on Tuesday in Asian trading after President Donald Trump announced that the U.S. would reintroduce its blockade of Iranian ships and collect a?20%?fee for cargo crossing the Strait of Hormuz. After a volatile session MSCI's broadest Asia-Pacific share index outside Japan gained 0.2% as gains in Taiwan were offset by gains for South Korean stocks. S&P 500 futures e-mini edged up 0.1%. The CSI 300, which tracks Chinese stocks, rose 2% as export and import figures for June were released on Tuesday. These data exceeded economists' predictions. ING analysts reported in a research note...

Gold prices climbed on Friday but were set to fall?weekly? as tensions between the U.S. and Iran pushed up oil prices, raising inflation fears and supporting an expectation of higher U.S. rates. Gold spot rose 0.7%, to $3.996.29 an ounce, by 1010 GMT. It had fallen as low as it has been since July 1, earlier in the day. Prices are down by over 3% for the entire week. U.S. Gold Futures for August Delivery gained 0.2% to $4,000. Fawad Razaqzada is a Forex.com market analyst. He said that when the price drops, some short sellers will profit. If oil...

Gold is on track to suffer its largest weekly loss in six weeks on Friday as the escalating U.S. - Iran conflict has pushed up oil prices. This will increase inflationary pressures, and strengthen the case for higher U.S. rates. Gold spot was up 0.6% to $3,993.22 an ounce at 0758 GMT. It had been as low as it has been since July 1, earlier in the day. U.S. Gold Futures for August Delivery gained 0.1% to $ 3,996.90. The metal is down 3% this week, the biggest drop since June 1. This week's softer U.S. inflation data has not...

Gold prices fell on Thursday, as tensions in the Middle East increased inflation fears and uncertainty about U.S. interest rate trends. Gold futures in the U.S. fell 0.4% to $4.037.20 per ounce at 0834 GMT. Spot gold dropped 0.7% to $4.032.19 an ounce. Gold is still influenced by geopolitics and inflation. The continued U.S. attacks against Iran, and the disruptions of the Strait of Hormuz are supporting oil prices and maintaining inflationary risks," says?Niko tzabouras a senior analyst at Jefferies owned Tradu.com. After reimposing its naval blockade, the U.S. launched a second wave of attacks against Iran's missile and coastal...

Gold prices fell?on Friday as a Middle?East conflict escalated, fueling fears that the U.S. Federal Reserve might raise interest rates in this year. This tempered recent optimism about easing inflation. By 0518 GMT, spot gold had fallen 0.8% to $4,029.29 an ounce. U.S. gold for August delivery fell 0.4% to $4034.40. The latest escalation of the?U.S.Iran conflict has not been reflected in June's inflation numbers, according to Jigar Trivedi. He is a senior research analyst with IndusInd Securities. After reimposing its naval blockade, the U.S. launched a series of two-wave attacks against Iran's missile and coastal defence sites. Iran responded...

International Energy Agency warns that the full implementation of China’s rare earth export restriction could put $6.5 trillion in downstream production outside of the country at risk. China, the world's largest producer?of?rare Earths, increased export controls in?October of last year, to include additional materials, and introduced new licensing requirements. However, they agreed to postpone implementation for one year. Rare earths is a grouping of 17 metals that are used in small amounts but essential for products such as cars, aircrafts, electronics and weapons systems. The IEA's Global Critical Minerals outlook report stated that if the controls are fully implemented, an...

Chinese President Xi Jinping will outline an ambitious vision of China's role as a global AI governance leader at a forum this Friday. Huawei is showcasing its most advanced AI computing cluster yet, in a move to create a domestic alternative to U.S. tech. Xi's first-time attendance at the World Artificial Intelligence Conference, or WAIC, underscores Beijing’s view that AI is both a key driver of global economic growth and a technology of strategic importance in the global competition. Huawei's Atlas 950 SuperPoD AI computing system, a large-scale AI computer system with a high performance will be unveiled at the...

Warren Buffett called Bill Gates' association with the late sexual offender Jeffrey Epstein, "disgusting," but said that he would halt his donations to the Gates Foundation as his children grew older and were now ready to receive his wealth. Buffett told CNBC in an excerpt of a Wednesday interview that he tells his children to do it well. The comments were broadcast a day after 95-year-old Berkshire Hathaway Chairman omitted the Gates Foundation in his annual midyear charitable donations. He donated almost $6 billion worth of stock from his conglomerate. Buffett donated Berkshire shares worth more than $47 billion to...

Gold prices fell on Wednesday as escalating tensions continued to?stoke inflation concerns, reinforcing the expectation of higher U.S. rates. Spot gold dropped 0.6% at $4,030.50 an ounce as of 1130 GMT. Tuesday, prices had risen more than 2% after weak U.S. inflation figures. U.S. Gold Futures for August?delivery fell 0.8% to $4.036.20. The Islamic Revolutionary Guard Corps of Iran has threatened to shut all export?corridors that benefit Washington after Tehran closed the Strait of Hormuz, and the U.S. reimposed its?naval blocade of Iranian port. After closing Tuesday at an all-time high, oil prices have risen. UBS analyst Giovanni Staunovo stated...

Gold gained more than 2% on Tuesday after ?softer-than-expected inflation data boosted hopes ?of the U.S. Federal Reserve adopting ?a ?less hawkish stance. Gold spot was up 1.6% to $4,063.78 an ounce at 1:30 pm EDT (1730 GMT) after it fell earlier in the day to its lowest price since July 1. U.S. Gold Futures closed 1.6% higher, at $4.069.70. Other currency holders can now afford greenback-priced gold because the U.S. Dollar has fallen by 0.6%. "Gold?gallops up on a subdued CPI that showed headlines falling but, more importantly, the?core remained unchanged at 0.2%. "This should reduce expectations for rate...

Warren Buffett announced on Tuesday that he had stopped giving money to the Gates Foundation following revelations regarding interactions between Microsoft co-founder Bill Gates, a philanthropist and former sex offender Jeffrey Epstein. Buffett said he will donate about $6 billion worth of?Berkshire Hathaway shares, which is 12 million Class B Shares, as part of his mid-year annual donation to four foundations run by his sons Howard, Peter, and daughter Susie. The 95-year old Berkshire Chairman did not mention Gates Foundation which has received over $47 billion in stock from the conglomerate since Buffett made an irrevocable promise to donate shares...

Gold rose more than 2% Tuesday, after inflation data that was softer than expected boosted expectations of the U.S. Federal Reserve taking a less hawkish position. Gold spot rose 2.1%, to $4.083.99 an ounce at 8:49 am EDT (1249 GMT), having fallen to its lowest price since July 1, earlier in the day. U.S. Gold Futures rose 2.2% to $4091,80. Other currency holders can now afford greenback-priced gold because the U.S. Dollar has fallen by 0.6%. "Gold gallops higher on a subdued CPI that saw headlines dive lower, but more importantly core unchanged?versus 0.2%. "This should reduce expectations for rate...

Gold gained a little?on?Tuesday, reversing its course after?hitting a?two-week low earlier... in?the session. The focus was on the U.S. Consumer Price Index and Federal Reserve chair Kevin Warsh's testimonies for clues about monetary policy outlook. Spot gold increased 0.5% at $4,021.38 an ounce to 1100 GMT after dropping to its lowest level in the session since July 1. U.S. Gold Futures for August Delivery gained 0.6% to $ 4,029.20. Ricardo Evangelista, ActivTrades analyst, said that gold prices were edging up a bit today. This was due to a pause on the recent rally of the U.S. Dollar. Dollar-priced gold is...