Oil Posts Worst Week in Three With Demand Recovery in Focus
Bloomberg 1 hr ago Andres Guerra Luz
(Bloomberg) Oil posted its worst week in three amid concerns that rising global coronavirus cases are slowing the economic recovery.
West Texas Intermediate futures ended the week down 3.5%, the biggest weekly loss since mid-March. With the Organization of Petroleum Exporting Countries and its allies planning to start raising output, markets are now focused on whether the demand recovery will be enough to absorb growing supplies.
While consumption is climbing in India and the U.S., rising virus cases and the possibility of stricter travel limits in Europe are muddying the forecast and putting pressure on crude. Oil plunged Monday after the U.K. said it may delay global travel beyond May 17.
Stocks Trade Near Records as Futures Edge Higher: Markets Wrap
Bloomberg 1 hr ago Emily Barrett
(Bloomberg) Global stocks traded around record levels Friday after a Wall Street rally on Federal Reserve Chairman Jerome Powell’s assurance that the central bank can reinvigorate the economy without stoking painful inflation.
A gauge of Asia-Pacific shares dipped, with Japan rising as Hong Kong and China edged lower. Data showing the fastest Chinese producer price inflation since 2018 raised concerns about a faster pullback in central bank support. U.S. futures climbed after the S&P 500 notched an all-time high amid low volumes on U.S. exchanges. The Nasdaq 100 outperformed on rallies in tech stocks.
by Tyler Durden
Friday, Apr 09, 2021 - 08:00 AM
US equity future struggled for direction after hitting an all time high of 4,102 as investors assessed economic growth prospects against renewed inflation concerns after Beijing reported that in March China experienced the fastest factory inflation since 2018, which weighed on Asian stocks, and dragged contracts on the duration-heavy Nasdaq 100 lower, despite Fed Chair Jerome Powell reiterating late on Thursday that inflation was not a worry. Emini futures were steady after the S&P 500 rose 0.42% to a record high on Thursday when the Nasdaq Composite added 1.03%. Treasury yields rose, as did the dollar, while oil was flat and the VIX dropped to its lowest level since Feb 2020 at 16.55.
Stocks Pause Near Record; U.S. Futures Edge Higher: Markets Wrap
Bloomberg 1 hr ago Emily Barrett
(Bloomberg) Global stocks traded around record levels Friday after a Wall Street rally on Federal Reserve Chairman Jerome Powell’s assurance that the central bank can reinvigorate the economy without stoking painful inflation.
Concerns about price pressures were apparent in China, where data showed the fastest factory inflation since 2018. Sliding Chinese stocks weighed on an Asia-Pacific share gauge. U.S. equity futures climbed, with Nasdaq 100 contracts outperforming, after the S&P 500 notched an all-time high amid low volumes on U.S. exchanges. European equity futures fluctuated.
Stocks Pause Near Record; U S Futures Edge Higher: Markets Wrap swissinfo.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swissinfo.ch Daily Mail and Mail on Sunday newspapers.