Oil Trades Near 5-Year Low as Russia Mirrors OPEC Output Policy

Oil traded near a five-year low as Russia reiterated that it will keep crude output steady next year, mirroring OPECs strategy to refrain from curbing supply to tackle a global glut. Futures fell as much as 1.4 percent in New York after sliding below $55 a barrel yesterday for the first time since May 2009. Production from Russia, the worlds largest crude producer, will be similar to this years 10.6 million barrels a day, Energy Minister...

Yen Retreats From Four-Week High Before Fed; N.Z. Dollar Slides

The yen retreated from the strongest in four weeks against the dollar before the Federal Reserve concludes a two-day policy meeting today.The yen has been the biggest gainer among the 10-currency Bloomberg Correlation-Weighted Indexes in the past week as tumbling oil added to concern the global economy will falter, boosting demand for havens. The ruble collapsed to a record yesterday even after Russia increased borrowing costs to the...

Asia Stocks Rise Before Fed as Energy, Utility Shares Lead Gains

Asian stocks rose before a Federal Reserve policy decision as gains in energy and utility shares outweighed a decline in Japanese equities spurred by a stronger yen. The MSCI Asia Pacific Index added 0.1 percent to 134.49 as of 9:09 a.m. in Tokyo after dropping 2 percent the previous two days. Japans Topix index sank 0.5 percent after the yen surged 1.2 percent versus the dollar...

Japanese Stocks Fall as Yen Near Four-Week High on Haven Demand

Japanese stocks fell for a third day after the yen reached a four-week high as investors bought haven assets amid plunges in oil and the Russian ruble that are deepening concerns that the global economy is faltering. The Topix slipped 0.5 percent to 1,346.98 at 9:01 a.m. in Tokyo, after closing yesterday at a six-week low. All but seven of the 33 Topix industry groups retreated. The Nikkei 225 Stock Average lost 0.5 percent to 16,675.87....

U.S. Stocks Decline as Technology Losses Offset Energy Rally

U.S. stocks fell as declines in technology and consumer-discretionary companies offset a rebound in energy shares before tomorrows monetary decision by Federal Reserve policy makers. For a second day, investors were whipsawed by the biggest stock swings in two months. The S&P 500 fell 0.7 percent in the first 10 minutes of trading then rebounded, surging as much as 1.4 percent as crude erased losses. The index reversed gains in...