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Asian markets opened with modest gains as investors followed a rally around the world. Oil prices remained near their lowest levels for weeks, as the U.S. - Iran conflict remained stalemated. MSCI's broadest index of Asia-Pacific stocks outside Japan was up 0.1%. South Korean shares rallied as much as 2.1 percent. Japan's Nikkei fell 0.3% while S&P500 e-minis futures grew 0.1%. The Dow Jones Industrial Average closed at a record high overnight after data showed that U.S. Manufacturing Activity increased to its highest level in over four years in July. Chris Weston is the head of research for Pepperstone Group,...

The yen gained strength after the U.S. confirmed a joint intervention by Japan and the U.S. to support the currency. Investors watched for further signs of intervention. U.S. President?Donald Trump held off on a new attack against Iran over the weekend. Trump announced on Monday that talks were underway with Iran, warning that this was the "last chance" to get Tehran to agree to a deal that would end the five-month war. Iran, however, denied that negotiations were taking place or were planned. Brent futures for the front-month fell by $6.35 or 7.0% to settle at $83 a barrel. U.S....

Diamondback Energy beat analysts' expectations on Monday for its second-quarter profits and raised its annual production forecast. The high global oil prices are due to supply disruptions caused by the Middle East conflict. The war in Iran that began in late February nearly stopped the flow of Middle East goods through the Strait of Hormuz. Brent crude went from an average of $69.82 per barrel in January, to $126.41 by April, and WTI from $65.17, to $109.64. Diamondback expects to produce over 1 million barrels of oil-equivalent per day by 2026, up from its previous projection of 972,000 BOEPD. The...

On Monday, oil prices?dropped? and major stock indices gained?on signs that U.S. -Iran tensions are easing?again. Meanwhile, the yen?strengthened?against?the euro and dollar?after the?U.S. Japan and the United States confirmed their joint support. Oil prices fell sharply after U.S. president Donald Trump delayed a new attack on Iran, hoping to seal a deal quickly that would boost oil supply from the Gulf. U.S. crude oil was down by 6.07% to $79.53 per barrel at the end of yesterday, and Brent fell to $83.64 a barrel at the close. This is a 4.88% drop on a daily basis. Iran, however, said that...

What is important in the U.S. and international markets today by Mike Dolan Editor-at-Large of Finance and Markets The yen strengthened further on Monday, as the U.S. government and Japanese government confirmed their first joint interventions since 2011 to "prop up" the ailing currency. The timing and the impact of this move will be closely examined. Below, I'll go into more detail about that. Listen to the latest episode of the Morning Bid podcast. We discuss the 'historic' intervention, U.S. earnings growth, and the latest news on Iran. Subscribe to the Morning Bid daily podcast and hear journalists discussing the...

The oil prices fell and the?U.S. Stock futures in Europe and the U.S. rose Monday amid growing hopes for a Middle East peace agreement, while the yen strengthened to a high of three months after the U.S. Japan and the United States confirmed a joint intervention in order to support the fragile?currency. Brent crude futures fell more than 4%, to $83.88 per barrel, after U.S. president Donald Trump announced that talks with Iran would take place on Monday. He had previously called off an imminent strike on Iran in order to reach a agreement to reopen Strait of Hormuz, and...

On Monday, oil prices fell and stocks wobbled as hopes for peace in the Middle East increased. Meanwhile, the yen suddenly jumped after the U.S. confirmed a joint intervention by Japan and the U.S. to support the fragile currency. Brent crude futures fell more than 6%, to $82.41, after U.S. president Donald Trump announced that talks with Iran would take place on Monday. He had previously called off an imminent strike on Iran in order to reach a agreement to reopen Strait of Hormuz and resolve the impasse regarding Tehran's nuke capabilities. S&P futures increased by 0.4%, while Nasdaq's futures...

The decision of the core members to?increase crude oil production quotas in September is easy to dismiss as a meaningless act, given the disruptions caused by the Iran conflict. As long as the Strait of Hormuz is largely closed, and as long as there are no solutions to the threats to the Bab el-Mandeb 'waterway, it will be difficult for the 'oil-exporting groups to deliver what they have committed to. Saudi Arabia, Russia and Kuwait are among the OPEC+ members who have agreed to voluntary cuts in output. Algeria, Kazakhstan, Kazakhstan, Algeria, Kuwait, Algeria and Oman also agreed. The United...

The U.S. Energy Information Administration published data on Friday showing that U.S. crude output dropped about 2% from its record-breaking April level, but exports reached a new record for the second consecutive month. The data revealed that crude oil production averaged 13,71?million barrels a day in May, while exports increased to 5,73 million bpd compared to the previous record of 5.59 million. U.S. Oil companies have increased exports dramatically?since beginning of Iran war. They are taking advantage of global supply shortages caused by disruptions in vessel movements through the Strait of Hormuz. The higher price of oil has affected consumption....

The stock market was mixed on Friday as it gave back much of its earlier gains. Meanwhile, longer-dated Treasury Yields reached new multi-year heights after Federal Reserve officials claimed that more interest rate increases are necessary to combat inflation. A?market source? said that currency markets were also on high alert for any further intervention a day after Japanese authorities intervened to support the yen. Three Fed policymakers, who dissented for a rate increase at the meeting this week, made their case public on Friday in support of higher rates. The Fed left rates unchanged, a result that was widely expected...

Imperial Oil, a Canadian oil company, more than doubled its second-quarter profits and beat Wall Street's estimates on Friday. A surge in crude oil prices helped offset lower oil sands production and the impact of planned refinery maintenance. Cenovus also reported a dramatic jump in its quarterly profit earlier this week and increased its production outlook. Higher crude prices boosted Canada's oil-sands industry despite output restrictions due to maintenance. Geopolitical tensions and uncertainty in the Middle East boosted oil prices, while global fuel supply disruptions improved refinery margins. The higher benchmark crude prices helped Imperial's realized prices. Synthetic crude realizations...

U.S. stock prices rose on Thursday, as Microsoft's results surpassed expectations, and eased investor concerns about AI spending. Meanwhile, 30-year Treasury yields reached a record high after the Federal Reserve kept interest rates at the same level on Wednesday, fueling fears about inflation in longer-term. Microsoft rose by 14% as the company beat Wall Street expectations for current-quarter cloud sales growth and issued a capital expenditure outlook that was below Wall Street expectations. It also said it expected to continue generating cash until fiscal 2027, which just began. Investors are concerned about the rising costs of AI at large technology...

The price of gold climbed a little on Tuesday, as investors weighed the mixed signals from potential 'U.S.Iran' talks and awaited this week's U.S. Labor Market Reports for clues about Federal Reserve interest rate trajectory. Spot gold increased 0.2% at $4,059.81 an ounce as of 0257 GMT. Investors are awaiting reports on the U.S. labor market. These include job opening data in the afternoon, the ADP Employment Report on Wednesday, and the nonfarm payrolls numbers on Friday. "Gold is in a consolidation phase." Ajay Kedia of Mumbai-based Kedia Commodities said that if we see a weakening in the U.S. Dollar,...

Gold prices fell on Monday, as concerns about inflation and the war in the Middle East remained. The markets will also be watching the U.S. Federal Reserve policy direction this week. Spot gold dropped 0.3% per ounce to $4,030.34 by 2:00 pm EDT (1800 GMT), and U.S. gold futures for delivery in August settled at $4,090.50, a 0.4% decline. Gold has been in a trading band for over a month, roughly between $4,000 and $4200. The fact that the market may be anticipating a rise in inflation is a positive factor, particularly in July when fresh data are expected to...

Gold prices fell a little on Monday, as concerns about inflation and the war in the Middle East remained. The markets are also watching the latest job reports to determine the Federal Reserve's next policy move. Spot gold dropped by 0.1% at $4,037.01 an ounce as of 12:37 pm EDT (1637 GMT) while U.S. gold futures for delivery in August fell by 0.3% to $4,000.05. "Gold is stuck in a range of trading for over a month, roughly between $4000 and $4200. The fact that the market may be anticipating a rise in inflation is a positive factor, particularly in...

Gold prices fell on Monday as concerns about inflation and the conflict in the Middle East remained. The markets will also be watching the U.S. Federal Reserve policy direction this week, which is based on a number of employment reports. Spot gold dropped by 0.3% per ounce to $4,029.84 at 10:12 am EDT (1412 GMT) while U.S. gold futures for delivery in August fell 0.5%?to $4.029.00. Gold has been stuck between a range of $4000-$4200 for over a month. Marex analyst Edward Meir stated that the market may be anticipating a rise in inflation in July, when new data is...

U.S. Construction Spending unexpectedly dropped in June, as higher mortgage rates continued to stifle?homebuilding. Census Bureau of the Commerce Department reported on Monday that construction spending had decreased by 0.1%. The?Construction Spending in?May has been?revised. It was not reported that it had increased by 0.1% but was actually unchanged. Economists surveyed by predicted construction spending to rise 0.2%. In June, construction spending fell 3.2% compared to the same month last year. Spending on private construction projects fell 0.2% last month, but only by 0.1% this month. ?Investment in residential construction dropped 0.3%. The spending on single-family housing fell by 0.6%....

Gold prices rose on Monday as oil prices dropped after U.S. President Donald Trump held back on announcing new attacks against Iran, hoping for a quick deal. This helped ease concerns about inflation and rising interest rates. As of 0210 GMT, spot gold was up 0.4% to $4,055.76 an ounce. U.S. Gold Futures increased 0.9% to $4054.00. After authorities intervened on the foreign exchange markets to support the yen and make dollar-priced gold more affordable for overseas purchasers, the U.S. Dollar was under pressure. Tim Waterer is the chief market analyst for KCM Trade. He said that gold has had...

Holcim Group, a Swiss building materials company, announced on Sunday that it intends to sell its Philippines operations to Huaxin Building Materials of China in a deal worth at least $807,000,000. Holcim is selling an initial 68% stake at $527 million. The remainder will be sold in the following three to five year period for a price minimum of $280million. Holcim stated that this would result in an overall valuation $807 million. However, the figure may rise "based upon incremental value creation over?this time period". This sale is Holcim's largest divestment, since the $1 billion deal it made with Huaxin...

Holcim Group, a Swiss building materials company, announced on Sunday that it intends to sell its Philippines business to China’s Huaxin Building Materials. The deal could generate at least $807 million. Holcim is selling a 68% initial stake at $527 million. The remainder will be sold in the next 3 to 5 years for $290 million. Holcim stated that the total valuation would be $807 million. However, this figure could increase "based on incremental values created during?this time period". The money raised will be used for?large acquisitions as well as further investments in Holcim’s existing business. After spinning off their...

Gold fell 2% on the Friday, as the U.S. Dollar rebounded after a session in which it had fallen to a low of more than ONE MONTH. However, the metal is still on course for its first gain monthly in five months as the inflation data was weaker and expectations of future rate hikes by the U.S. were reduced. At 12:18 pm EDT (1618 GMT), spot gold fell 1.4% to $4,044.87 an ounce after dropping 2% earlier. U.S. Gold futures for August delivery fell 1.5% to $4043.80. Gold is up 1% this month, the biggest gain since February. Oil prices...

Gold fell more than 1% on Friday as the U.S. dollar gained ground. The dollar recovered its footing but was still on course to post its best monthly gain since February, as investors reduced their rate hike bets following the Federal Reserve meeting last week. Spot gold fell 1.1%, to $4.055.41 an ounce at 1050 GMT. However, it was on track for a 0.5% weekly increase. Prices have also risen by about 1.7% this month. U.S. Gold Futures for August Delivery dropped by 1.2% to $4053.60. Independent analyst Ross Norman stated that "gold struggles to gain meaningful momentum and is...

According to data released by the Labour Office on Friday, the number of unemployed people in Germany rose slightly higher than expected in July. They are now close to 3 million in adjusted seasonal terms. Labour Office data showed that the number of unemployed people increased by 6,000 in seasonally adjusted terms to 2,99 million. Analysts polled had predicted a rise of 5,000. The seasonally-adjusted unemployment rate was 6.4% in November, up from the 6.3% recorded the month before. Daniel Terzenbach is a member of Regional Management Board at the Federal Employment Agency. He said that the weak trend in...

Investors weighed Middle East developments and their impact on U.S. interest rate outlook as they weighed the gold price on Friday. As of 0703 GMT spot gold dropped 0.7%, to $4,075.35 an ounce. However, it was on track for a 0.5% weekly increase. Prices rose by about 1.7% in the last month. U.S. Gold Futures for August delivery fell 0.6% to $4 074. "Gold has a slight negative bias today due to profit-taking, and a moderate bounce in the U.S. Dollar, after the metal's gains and the corresponding drop in the greenback yesterday," said Tim Waterer, chief analyst at KCM...