Oil prices rise, but still set for weekly loss amid Gaza ceasefire chatter
Oil prices rose on Friday and recovered a measure of sharp losses from the prior session, but were headed for a weekly decline as a series of unsubstantiated reports suggested that a Israel-Hamas ceasefire was in the works. Prices were also encouraged by a softer dollar, which fell in anticipation of key nonfarm…
Calix Q1 guidance falls short as telco network customers to rethink spending plans
Calix reported first-quarter guidance that was well short of Wall Street estimates as some of its customers pause network equipment spending plans as they prepare to apply for U.S. government broadband funding stimulus aimed at bridging the digital divide by expanding high-speed internet access across the country. Calix Inc (NYSE:CALX) fell 22% in…
Global watchdog proposes new ethics code to combat greenwashing
Firms that check environmental, social and governance claims made by companies will be asked to follow a proposed new ethics code to help combat greenwashing, the chief of a global standards body told Reuters. Trillions of dollars have flowed into investment funds touting green credentials, but these can be misleading, a practice known…
Inflation in Japan’s capital slows, missing central bank’s 2% target
Core inflation in Japan’s capital slowed below the central bank’s 2% target to hit the lowest level in nearly two years, data showed on Friday, underscoring policymakers’ view that cost-push pressures will continue to ease in coming months. The focus shifts to whether wages will rise enough to underpin consumption and help Japan…
Dollar steady near 6-weeek highs ahead of US GDP; eyes on ECB meeting
The dollar was broadly steady near a six-week high on Thursday, as investors await GDP and other data this week to gauge where U.S. rates are headed, while the euro was soft ahead of the European Central Bank’s policy meeting later in the day. Data overnight showed U.S. business activity picked up in…
Oil prices steady as $80 brent remains elusive; US inventories in focus
Oil prices kept to a tight range in Asian trade on Wednesday as mixed signals on global supply and demand saw Brent struggle to break above key levels, while U.S. inventory data also provided differing cues. Some U.S. oil production capacity came back online after disruptions from cold weather, while production at Libya’s…
Stock market today: Dow closes above 38,000 for first time as record run continues
The S&P 500 and Dow closed at record highs Monday, with the latter ending above 38,000 for the first time as the tech melt-up continued ahead of busy week of corporate earnings and key economic data. By 16:00 ET (21:00 GMT), the Dow Jones Industrial Average, up 138 points, or 0.36% closed at…
China keeps loan prime rate at record lows as economic recovery falters
The People’s Bank of China kept its benchmark loan prime rate at record lows on Monday as widely expected, indicating that the central bank has limited headroom to further loosen monetary conditions and buoy an economic recovery. The PBOC left its one-year LPR at 3.45%, while the five-year LPR, which is used to…
Asian stocks surge as TSMC fuels tech gains; weekly losses still on tap
Most Asian stocks rose on Friday as a positive, AI-fuelled outlook from TSMC spurred a rebound in the technology sector, although weakness in China and uncertainty over interest rates put most bourses on course for a weekly loss. Regional markets also took some positive cues from Wall Street, which rebounded on Thursday after…
Oil prices edge higher amid mixed US cues, Red Sea strikes continue
Oil prices rose slightly in Asian trade on Thursday as severe cold weather appeared to have spurred some disruptions in U.S. production, while military action in the Middle East raged on. But gains in crude were limited by industry data showing an unexpected build in U.S. inventories. While the cold weather caused some…
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