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China’s factory activity swings to surprise growth in May, Caixin PMI shows China’s factory activity unexpectedly swung to growth in May from decline, a private sector survey showed on Thursday, driven by improved production and demand, helping struggling firms that have been hit by slumping profits. The Caixin/S&P Global manufacturing purchasing managers’ index, or PMI, …

Continue reading “China’s manufacturing sector hits 11-month high in May… What China Slow Down…… Japan’s manufacturing sector back to growth in May”

LONDON, May 31 (Reuters) – Oil prices fell by over 2% on Wednesday on a stronger U.S. dollar and as weak data from top oil importer China raised demand fears. Brent crude futures for August delivery were down $1.75, or 2.37%, to $71.96 a barrel at 1151 GMT. U.S. West Texas Intermediate crude (WTI) fell …

Continue reading “Oil Snaps Three-Day Rally After Russia Says OPEC+ Will Stay Put”

Oil Holds Deep Slump on Weak Demand Signals Ahead of OPEC+ Meet Persistent concerns around Chinese demand hang over market WTI trades near $69 a barrel after closing 4.4% lower Tuesday Oil held its biggest decline in four weeks on signs of weaker demand and sufficient supply ahead of an upcoming OPEC+ meeting. West Texas …

Continue reading “Oil Holds Deep Slump…… Oil continues falling, down over 1%”

Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman warned speculators again this week. Oil’s short positions are considerable, at 184 million barrels as of May 16. This is an increase of 140% from the number of short positions in play just a month earlier. The market is starting to price in the possibility of another …

Continue reading “Will OPEC+ Surprise The Market With Another Output Cut?”

U.S. gasoline demand over the Memorial Day weekend is estimated to be 1.1% lower than demand for the same weekend last year, despite the surging gas prices at the start of the driving season in 2022, data from fuel-saving app GasBuddy showed early on Tuesday. “According to GasBuddy data, US gasoline demand over the Memorial …

Continue reading “Gasoline Demand Over Memorial Day Weekend Lower Than In 2022….”

Major stock indexes in the United States opened mostly higher on Tuesday, with Nasdaq 100 leading the gains as the total value of Nvidia’s outstanding shares hit the $1 trillion market cap. The tech giant’s stock has been rallying ever since the last week’s earnings release, which brought better-than-anticipated results and an upbeat forecast. Year-to-date, …

Continue reading “Nasdaq jumps at open as Nvidia reaches $1T market cap”

U.S. stock futures rose on Tuesday amid relief a debt-ceiling deal was secured that now needs Congressional approval. U.S. stocks were looking to start the holiday-shortened week at fresh 10-month highs as traders welcomed a deal to extend the government debt-ceiling and as optimism over AI-derived earnings continued to underpin sentiment. “Volumes should return to …

Continue reading “S&P 500 eyes fresh 10-month high after debt-ceiling deal”

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Good news of a tentative deal for the U.S. debt ceiling impasse may quickly turn out to be bad news for financial markets. U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Saturday reached a tentative deal to raise the federal government’s $31.4 trillion debt ceiling, two sources familiar with the negotiations said, …

Continue reading “Debt deal may provide only short-term market relief”

WASHINGTON, May 28 (Reuters) – After tough negotiations to reach a tentative deal with the White House on the U.S. borrowing limit, the next challenge for House Speaker Kevin McCarthy is pushing it through the House, where hardline Republicans are already threatening to sink it. As Democratic and Republican negotiators iron out the final details …

Continue reading “Republicans criticize McCarthy, Biden debt ceiling deal…….. GOP lawmakers reportedly worried about debt ceiling hike”