Oil Ends Lower as Traders Grow Wary Ahead of Doha Producer Meeting

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Oil futures finished with a loss for a second day in a row on Thursday, as the market weighed the likelihood that key producers meeting this weekend will reach a pact to cap output.

Heavyweight suppliers, including Saudi Arabia and Russia, are gathering in Doha, Qatar, on Sunday to discuss curbing their output to support prices. However, doubts are growing that even if they manage to clinch an agreement, it may not be strong enough to alleviate the continuing global glut of crude.

May West Texas Intermediate crude fell 26 cents, or 0.6%, to settle at $41.50 a barrel on the New York Mercantile Exchange, but traded between a low of $40.84 and a high of $42.16 during the session. For the week, prices were looking at more than 4% climb.

June Brent crude on London’s ICE Futures exchange lost 34 cents, or 0.8%, to $43.84 a barrel.

The talk about the freeze meeting has kept investors on edge in recent weeks. Prices have gained roughly 8% month to date but the rally has been marked by high volatility amid the lack of clarity about what may happen in Doha. Iran has already balked at participating in any deal as the country seeks to increase its production to pre-sanctions levels.

Source: MarketWatch

Gold futures slide for second session on firm U.S. dollar

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Gold futures fell for a second session on Thursday as the dollar maintained its strength and demand for riskier assets remained relatively robust. The U.S. Dollar Index rose for a third day and U.S. stocks were marginally higher.

June gold slid $21.80, or 1.8%, to settle at $1,226.50 an ounce. "Nothing new so far just the momentum is picking up towards the downside but we do not expect any major sell off or new trend developing," said Naeem Aslam, chief market analyst at AvaTrade.

Source: marketwatch

Data Perdagangan China Angkat Saham HK Ke Level 3-Bulan Tertingginya (Review)

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Hong Kong shares climbed to three-month closing highs on Thursday, tracking global markets, as China's upbeat March trade data lifted hopes for the country's first-quarter GDP figures to be released on Friday.

The Hang Seng index added 0.9 percent, to 21,337.81 points, while the Hong Kong China Enterprises Index gained 0.5 percent, to 9,237.90.

Most sectors rose on Thursday, but resources and energy shares fell as investors took profit following Wednesday's jump.

U.S. Stocks Little Changed on Earnings as Oil Retreats With Gold

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U.S. stocks were little changed near a four-month high amid mixed corporate earnings, while global equities capped a fifth straight advance on gains in Europe and Asia. Commodities retreated after oil slipped and the dollar’s strength sent metals lower.

The Standard & Poor’s 500 Index swung between gains and losses before ending higher by less than one point. Financial shares advanced a second day amid a spate of earnings, while declines among consumer staples producers capped index gains. The Stoxx Europe 600 Index had its longest rally in six weeks. Crude slipped before Doha talks on a possible output freeze. The dollar edged higher even as data showed American inflation cooled. Defaults for U.S. high-yield bonds have topped $14 billion for the largest monthly volume in two years.

The rally in global equities that finally erased the worst start to a year continued Thursday on renewed speculation improvement in China’s economy is sustainable even as profits at American companies is forecast to contract. The dollar’s more than 6 percent drop since late January is starting to meet some resistance, as Federal Reserve officials, already challenged by sluggish global demand prospects, may not be able to make a case for more immediate interest-rate increases as price growth remains subdued.

The S&P 500 rose less than a point to 2,082.70 at 4 p.m. in New York, technically extending a winning streak to three days. The index has surged almost 14 percent from a February low and is now 2.2 percent below its all-time high. Skepticism still prevails, with valuations far above their five-year average and the seven-year bull market weeks away from becoming the second-longest in history.

Source: Bloomberg

U.S. Stocks Extend Gains With Banks, Airlines Leading Advance

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U.S. stocks advanced, with the Standard & Poor’s 500 Index extending a four-month high, as investors assessed earnings releases and data showing the labor market is improving with little pickup in inflation.

Banks wiped out earlier losses and rallied, with Bank of America Corp. climbing after saying it sees more room for cost cuts. Airline operators jumped along with Delta Air Lines Inc., which posted quarterly earnings that beat projections. Seagate Technology Plc tumbled 19 percent after reporting preliminary revenue that trailed estimates.

The S&P 500 added 0.2 percent to 2,085.74 at 12:16 p.m. in New York, after reaching the highest level since Dec. 4. Financial shares and commodity producers have led the benchmark gauge to a 1.9 percent advance so far this week, after the measure faltered last week amid skepticism central banks’ efforts to shore up growth will fail to be effective. The Dow Jones Industrial Average increased by 37 points to 17,945.3 on Thursday.

While the rally that lifted the S&P 500 since February is regaining momentum, skepticism still prevails, with valuations far above their five-year average and the seven-year bull market weeks away from becoming the second-longest in history. Some investors also attribute the rebound to short squeezes, with a Goldman Sachs Group Inc. gauge of the 50 most-shorted stocks posting its biggest two-day jump in almost two months.

Source: Bloomberg