Browsing: Stocks

SINGAPORE: Oil prices rebounded on Thursday as US crude and gasoline stock drawdowns lent support despite signs that the US Federal Reserve may keep interest rates higher for longer, according to Reuters.

Wall Street’s main stock indices pulled back Friday after a slew of data this week dampened hopes for earlier rate cuts from the Federal Reserve, while European equities held near recent highs.

NEW YORK – The dollar rose to a more than one-week high on Friday after a mixed batch of data showed the U.S. economy remained stable with small pockets of weakness, suggesting the Federal Reserve could keep interest rates higher for longer or reduce the planned number of rate cuts this year.

Stock markets in United Arab Emirates declined on Friday, in line with global equities after a bigger-than-expected hike in U.S. inflation dashed hopes of early rate cut. MSCI’S global equity index was down 0.2%, while Hong Kong’s Hang Seng Index slid 1.4%. The mood turned cautious after a bigger-than-expected rise in producer prices in U.S. data on Thursday added to a hot consumer inflation reading earlier in the week.

MSCI’S global equity index was down 0.2% on Friday and flat for the week, following a strong rally for most of the first quarter of the year

A total of 134 countries representing 98 percent of the global economy are now exploring digital versions of their currencies, with over half in advanced development, pilot or launch stages, a closely-followed study on Thursday showed.

Trading volumes of Saudi equities have unexpectedly surged this year in a big boost to the stock exchange operator Saudi Tadawul Group Holding Co.

Bitcoin raced to an all-time peak above $72,000 Monday as the world’s most popular cryptocurrency won further support on greater trading accessibility and dollar weakness.

LONDON – The dollar index was set for its sharpest weekly drop since mid-December on Friday ahead of U.S. payrolls data, as Federal Reserve Chair Jerome Powell sounded more confident about cutting interest rates in coming months.

The European common currency is gaining popularity among central bank reserve managers around the world