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  • Dec 17, 2024

Oil prices ease 1% to one-week low on weak Chinese, German economic data

NEW YORK (Reuters) -Oil prices eased about 1% to a one-week low on Tuesday on demand worries following the release of negative economic news from Germany and China, while investors remained cautious ahead of a U.S. Federal Reserve decision on interest rates. Brent futures fell 72 cents, or 1.0%, to settle at $73.19 a barrel, while U.S. West Texas Intermediate crude slipped 63 cents, or 0.9%, to settle at $70.08. In China, the world's second-biggest economy, industrial output growth quickened slightly in November, while retail sales disappointed, keeping alive calls for Beijing to ramp up consumer-focused stimulus as policymakers brace for more U.S. trade tariffs once President-elect Donald Trump takes office for a second time.

  • Dec 17, 2024

Oil Dips as Equity Market Weakness, Chinese Data Weigh on Prices

(Bloomberg) -- Oil fell for a second day after Chinese economic data stoked concerns about demand and equity markets slipped. Most Read from BloombergHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearWest Texas Intermediate dropped almost 1% to settle near $70 a barrel, while Brent slid to around $73. Equities retreated in most regions, adding to the pressure on crude from weak Chinese refining and retail sales numbers on Monday. Traders are also await

  • Dec 17, 2024

Fed Meetings Made Stock Traders Richer In 2024: Could Wednesday Bring Last Big Rally?

The U.S. stock market has generally delivered solid gains around Federal Reserve meetings in 2024, signaling investor optimism as the central bank prepares for its final policy decision of the year on Wednesday. An investor adopting a short-term long strategy — buying the S&P 500 index at market close the day before a Fed meeting and selling at the close the day after — would have realized a median return of 1.1% over the last seven meetings. According to data compiled by Seasonax, this strategy

  • Dec 17, 2024

Australia Is New Bond Market Favorite for JPMorgan Asset Management

(Bloomberg) -- The great run in European government bonds is coming to an end, according to a portfolio manager at J.P. Morgan Asset Management, who is now betting Australia will be the next market to outperform.Most Read from BloombergHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearKim Crawford said there is little room for further gains in Europe compared to peers given swap markets are fairly pricing the amount of interest-rate cuts the European C

  • Dec 17, 2024

Trump Serious About Bitcoin Reserve, Says MicroStrategy's Michael Saylor: 'Buy It Now And Own The Future'

MicroStrategy co-founder and executive chairman Michael Saylor said Monday that the incoming Donald Trump administration was serious about setting up a U.S. strategic Bitcoin (CRYPTO: BTC) reserve. What happened: During a CNBC interview, Saylor stressed the importance of "buying the future" if one knows where the money is going. "All the capital outside the U.S. and all the 20th-century antiquated capital is going to flow into digital assets and the Bitcoin network," the Bitcoin bull said. "The

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