Oil prices pared losses after earlier hitting multi-year lows on Monday as hopes that a bigger than expected production cut from OPEC and stimulus from central banks could offset economic gloom from the coronavirus outbreak.
Oil prices pared losses after earlier hitting multi-year lows on Monday as hopes that a bigger than expected production cut from OPEC and stimulus from central banks could offset economic gloom from the coronavirus outbreak. Brent crude was at $50.32 a barrel, up 65 cents, or 1.3%, by 0105 GMT, after earlier dropping to $48.40, the lowest since July 2017. “On the one hand, it’s pretty negative on worldwide crude oil and product demand,” said Lachlan Shaw, head of commodity research at the National Australia Bank. …read more […]
Mar.01 — Former Japanese Ambassador to the U.S. Ichiro Fujisaki discusses Prime Minister Shinzo Abe’s handling of the coronavirus outbreak in Japan and his outlook for the Olympic games. He speaks on “Bloomberg Markets: Asia.” . …read more […]
(Bloomberg) — Russia is ready to cooperate with its OPEC+ partners to support the world oil market, even though it’s comfortable with current crude prices, President Vladimir Putin said.The OPEC+ mechanism “has already established itself as an effective tool in ensuring long-term stability in global energy markets,” Putin told a meeting with ministers in Moscow on Sunday. The fact that Russia has large financial reserves to cushion the impact of turbulence in the market “doesn’t eliminate the need for action, including in cooperation with our foreign partners,” he said.Putin commented ahead of the March 5-6 OPEC+ meeting in Vienna where …read more […]
The rout in world stocks deepened on Monday, with investors rattled by weekend data from China that showed its fastest ever contraction in factory activity, raising fears of a global recession from the coronavirus.
U.S. stock index futures tumbled as trading reopened on Sunday night with investors still unnerved by the coronavirus and taking little solace from weekend comments by U.S. officials that aimed to soothe panic about a pandemic.
U.S. stock futures sank Sunday evening and indicated another brutal trading week on Wall Street, as mounting coronavirus fears rippled through global markets. …read more […]
Mar.01 — Washington state has declared a state of emergency after reporting the first coronavirus death in the country. Officials there are now investigating a possible outbreak at a health facility. Bloomberg’s Drew Armstrong reports on “Bloomberg Markets: Asia.” …read more […]
Mar.01 — China’s PMI data fell to the lowest level on record in February as coronavirus cases continue to spike all around the world. Bloomberg’s Tom Mackenzie reports on “Bloomberg Markets: Asia.” …read more […]
The implied yield on U.S. 10-Year Treasury futures traded below 1% for the first time, as investors grew increasingly unnerved by the spread of coronavirus.
Goldman Sachs economists on Sunday predicted the U.S. Federal Reserve will cut interest rates aggressively perhaps before its next scheduled meeting in two weeks time, saying the head of the U.S. central bank sent a clear signal with his unscheduled statement on Friday.
Stock futures plummeted on Monday as investors were rattled by weekend data from China that showed its fastest ever contraction in factory activity, raising fears of a global recession from the coronavirus.
Mar.01 — Stanford University Asia health policy program director, Karen Eggleston, says we certainly need to prepare for a coronavirus pandemic, but panicking can make things worse. She speaks with Paul Allen on “Bloomberg Markets.” …read more […]
Stock futures plummeted on Monday as investors were rattled by weekend data from China that showed its fastest ever contraction in factory activity, raising fears of a global recession from the coronavirus. The sheer scale of losses has prompted financial markets to price in policy responses from the U.S. Federal Reserve to the Bank of Japan and the Reserve Bank of Australia (RBA). Futures now imply a full 50 basis point cut by the Fed in March while Australian markets are pricing in a quarter-point cut at the RBA’s Tuesday meeting. …read more […]
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