Oil Slides as U.S. Crude Inventories Head for Record Growth

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Oil fell as U.S. crude stockpiles expanded last week, adding to the country’s biggest-ever annual growth.

Inventories rose 2.63 million barrels, capping an expansion of more than 100 million barrels this year, the most in EIA data going back to 1920. A 2.5 million-barrel drop was projected in a Bloomberg survey. Supplies in Cushing, Oklahoma, the delivery point for West Texas Intermediate crude, climbed to a record.

Crude output rose by 23,000 barrels a day to 9.2 million. That’s down from a four-decade high of 9.61 million reached in June, weekly data show. The gain occurred a week after U.S. producers put 17 more rigs back to work drilling for oil. The current count stands at 538, close to the least in five years, according to data compiled by Baker Hughes Inc.

WTI for February delivery dropped $1.27, or 3.4 percent, to settle at $36.60 a barrel on the New York Mercantile Exchange. The volume of all futures traded was 49 percent below the 100-day average at 2:40 p.m. The contract is down 31 percent this year.

Brent for February settlement fell $1.33, or 3.5 percent, to $36.46 a barrel on the London-based ICE Futures Europe exchange. Prices are down 36 percent this year. The European benchmark closed at a 14-cent discount to WTI.

Source: Bloomberg           

Gold Fund Sales Resume as Prices Fall for Third Straight Day

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Investors resumed sales from gold-backed funds as traders increased expectations that the Federal Reserve will raise interest rates again in March. Bullion futures posted a third straight decline.

Holdings in gold exchange-traded products fell 0.9 metric ton on Tuesday to erase gains made the previous day, data compiled by Bloomberg show. Assets have declined 10 times in the last 12 sessions to 1,466.3 tons, near the lowest in more than six years.

Gold futures for delivery in February lost 0.8 percent to settle at $1,059.80 an ounce at 2:16 p.m. on the Comex in New York. Prices slipped 0.7 percent in the two previous sessions. The metal is down 11 percent this year, set for a third straight annual decline in the longest slump since 1998. Aggregate trading was 28 percent below the 100-day average for this time, data compiled by Bloomberg show.

Silver futures for March delivery retreated 0.6 percent to $13.842 an ounce on the Comex. On the New York Mercantile Exchange, platinum fell the most in almost two weeks, and palladium slid.

Source: Bloomberg

U.S. Stocks Fell From Three-Week High, Paring S&P 500 2015 Gain

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U.S. stocks fell, with the Standard & Poor’s 500 Index struggling to hold its gain for the year in 2015’s penultimate session, as energy companies followed oil lower and a slide in Apple Inc. weighed on technology shares.

The S&P 500 slipped 0.7 percent to 2,063.30 at 4 p.m. in New York, after rallying 1.1 percent Tuesday to the highest since Dec. 4. A late selloff today halted at the gauge’s average price during the past 200 days.

If the S&P 500 closes 2015 higher, it will be its fourth consecutive annual gain, while a loss would make it the worst year since 2008. The index has risen as much as 3.5 percent in the year and was down 9.3 percent at its low in August. It’s 3.2 percent away from an all-time high set in May.

U.S. stocks are defying the historical trend of rallies in the final month of the year. The S&P 500 is on track for its second December drop since the financial crisis, down 0.8 percent, after a series of sharp increases and selloffs. The benchmark is up just 0.2 percent for the year, fluctuating throughout December on the back of the Federal Reserve’s first interest-rate rise in almost a decade.

Source : Bloomberg

U.S. Stocks Slip From Three-Week High, Paring S&P 500 2015 Gain

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U.S. stocks fell, with the Standard & Poor’s 500 Index struggling to hold its gain for the year in 2015’s penultimate session, as energy shares followed oil lower and a slide in Apple Inc. weighed on technology shares.

Chevron Corp. and Anadarko Petroleum Corp. sank at least 1.2 percent, amid reports showing crude stockpiles increased. Apple lost 1.1 percent after a person familiar with the matter said it paid $348 million to settle an Italian tax claim. Pep Boys declined 2.9 percent after Bridgestone Corp. declined to match Carl Icahn’s takeover offer of more than $1 billion for auto-parts retail chain.

The S&P 500 slipped 0.3 percent to 2,071.32 at 12 p.m. in New York, after rallying 1.1 percent Tuesday to the highest since Dec. 4. The Dow Jones Industrial Average lost 48.86 points, or 0.3 percent, to 17,672.12. The Nasdaq Composite Index retreated 0.4 percent. Trading in S&P 500 shares was 46 percent below the 30-day average for this time of day.

Source: Bloomberg

Europe Stocks Decline From 3-Week High Amid Thin Trading Volume

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European stocks fell on the last full trading day of the year as a slide in oil prices weighed on investor sentiment.

The Stoxx Europe 600 Index lost 0.5 percent at the close of trading, after yesterday’s 1.4 percent gain. The volume of shares changing hands was 40 percent lower than the 30-day average. Markets will shut on Friday for New Year. Some including Germany, Switzerland and Italy, will also close tomorrow for New Year’s Eve, while others will have shorter trading hours.

European equities are heading for their worst December since 2002, down 4.6 percent. While they recouped some losses in the past two weeks, that hasn’t been enough to overcome a slide earlier this month amid disappointing European Central Bank stimulus measures and as a rout in commodity and crude prices intensified. Still, the Stoxx 600 is heading for its fourth straight annual advance.

All 19 Stoxx 600 groups fell, with energy producers the worst performers. Seadrill Ltd. and Tullow Oil Plc fell at least 5.5 percent, leading losses among energy companies.

Among stocks active on corporate news, Julius Baer Group Ltd. climbed 4 percent after the Swiss wealth manager said it expects to pay about $547 million to settle a U.S. tax investigation.

Source: Bloomberg     

Oil Advances as U.S. Crude Stockpiles Seen Falling, Easing Glut

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Crude climbed as traders counted on another week of declines in U.S. crude inventories to help ease the glut that’s pushed prices below $40 a barrel.

Futures rose 2.9 percent in New York, paring Monday’s 3.4 percent slide. U.S. crude stockpiles probably fell a second week, according to a Bloomberg survey before government data Wednesday. Prices rebounded despite Saudi Arabia’s planned cuts to 2016 spending that are based on a Brent price next year of $37 a barrel, according to John Sfakianakis, a Riyadh-based economist at Ashmore Group Plc and a former government adviser.

Crude is heading for its second annual decline amid a global supply glut that may deepen as OPEC effectively abandons output limits and Iran plans to raise production once sanctions are lifted. Brent, the benchmark for more than half the world’s oil, is poised to end 2015 with the lowest annual average price in 11 years, hurting energy-exporting countries and companies.

West Texas Intermediate oil for February delivery climbed $1.06 to settle at $37.87 a barrel on the New York Mercantile Exchange. Trading volume was 58 percent below the 100-day average at 2:52 p.m.

Brent for February settlement rose $1.17, or 3.2 percent, to $37.79 a barrel on the London-based ICE Futures Europe exchange. The European benchmark oil closed at an 8-cent discount to WTI. Brent traded lower than WTI last week for the first time in 11 months after the U.S. decided to lift its restrictions on crude exports.

Source: Bloomberg

Gold Ends Little Changed as Stocks and Oil Surge

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Gold futures ended little changed Tuesday, kept in check by a rally in a global stocks and a strengthening dollar.

February gold ended 30 cents, or less than 0.1%, lower at $1,068 an ounce. The metal is on track for a 0.3% gain for December but remains down 9.8% since the end of 2014. Gold was marginally higher earlier in the session but succumbed to pressure from surging stocks which were underpinned by a rebound in crude-oil prices.

Advances by the greenback also helped limit the metal’s gains. A stronger buck can make dollar-denominated assets like gold more expensive to buyers using other monetary units.

Bearish sentiment has continued to dominate the view on gold since the Federal Reserve raised interest rates mid-December, making precious metals less attractive to those investors seeking yield-bearing assets.

Other metals on Comex advanced a day after slumping. March silver finished 4.4 cents, or 0.3%, higher at $13.93 an ounce. High-grade copper for March delivery rose 5.8 cents, or 2.8%, to close at $2.1365 a pound, January platinum advanced $10.40 an ounce, or 1.2%, to finish at $891.20 an ounce, and March palladium gained $4.40, or 0.8%, to settle at $556.35 an ounce.

Source: MarketWatch

Japanese Shares Rise With Topix Headed for Fourth Year of Gains

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Japanese shares rose, with the Topix index poised to end the year with its fourth straight gain, as equities tracked a rally in the U.S. and Europe.

The Topix rose 0.5 percent to 1,551.59 as of 9:01 a.m. in Tokyo on the final trading day of the year, with all but one of the 33 industry groups advancing. The measure is heading toward a 10 percent gain for 2015, adding to a 93 percent increase over the past three years. For the quarter, the gauge is up 9.9 percent. The Nikkei 225 Stock Average added 0.4 percent to 19,065.50. The yen traded at 120.51 per dollar, slipping for a third day.

The Standard & Poor’s 500 Index jumped 1.1 percent on Tuesday to restore its gain for the year and nearly erase a monthly decline as retailers and technology shares led a rally in light trading. The Stoxx Europe 600 Index climbed 1.4 percent.

Oil climbed above $37 a barrel Tuesday amid forecasts for falling U.S. stockpiles, with West Texas Intermediate crude advancing 2.9 percent while Brent traded 3.2 percent higher. WTI slid 1.7 percent to $37.24 in trading Wednesday.

Japanese shares are among the best performing major stock indexes this year in dollar terms. The measure is still 8.3 percent below its peak in August after China’s shock currency devaluation and the specter of Federal Reserve interest rate hikes sparked a global equity selloff.

Source : Bloomberg

S&P 500 Restores 2015 Gain as U.S. Stocks Gain Toward Year End

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U.S. stocks rose, restoring the Standard & Poor’s 500 Index’s gain for the year and nearly erasing a monthly decline as retailers and technology shares led a rally in light trading.

The S&P 500 advanced 1.1 percent to 2,078.27 at 4 p.m. in New York, rising to a three-week high.

Tuesday’s activity was a reflection of the year, with investors piling into the three top-performing S&P 500 industry groups in 2015 -- consumer discretionary, health-care and technology. Two of the year’s worst three, energy and utilities, were among the biggest laggards today.

With today’s rally, the benchmark has nearly wiped out a monthly decline after falling as much as 3.6 percent amid a series of sharp selloffs and rallies in December. If the measure closes the year higher, it will be its fourth consecutive annual gain. The index has risen as much as 3.5 percent in 2015 and dropped 9.3 percent at its low in August.

Source : Bloomberg

U.S. Stocks Rose as S&P 500 Restores 2015 Gain Near Year End

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U.S. stocks rose, restoring the Standard & Poor’s 500 Index’s gain for the year and paring a monthly decline as retailers and technology shares rallied in light trading.

Amazon.com Inc. paced gains among retailers for a second day, rising 2.6 percent to a record in post-holiday trading that was 38 percent below the 30-day average for this time of day. Kohl’s Corp. and Target Corp. increased more than 2.5 percent. Pep Boys added 7.8 percent after Carl Icahn raised his takeover offer for the auto-parts chain to more than $1 billion. Google parent Alphabet Inc. rose 1.8 percent to bolster gains in technology shares.

The S&P 500 advanced 0.8 percent to 2,073.64 at 12:03 p.m. in New York, after slipping 0.2 percent Monday in the lightest volume for a full session on U.S. exchanges this year. The gauge is above its average price during the past 50 days. The Dow Jones Industrial Average climbed 160.90 points, or 0.9 percent, to 17,689.90. The Nasdaq Composite Index gained 1 percent.

The benchmark gauge is now up 0.7 percent for the year, having fluctuated between gains and losses throughout December on the back of the Fed’s first interest-rate increase in almost a decade. That compares with a 3.6 percent drop this year on the MSCI All Country World Index. Still, stocks are defying the historical trend of gains in the final month of the year, with the S&P 500 down 0.3 percent, trimming a drop of as much as 3.6 percent.

Source : Bloomberg

Gold Falls as Investors Zero In on Outlook for Inflation

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Gold dropped for the third time in four sessions as the outlook for low U.S. inflation cut demand for the metal as a store of value.

Gains for consumer prices remain tepid, a government report showed last week. While inflation hasn’t reached the Federal Reserve’s 2 percent goal since April 2012, policy makers in December raised interest rates for the first time in almost a decade as the labor market improved. Higher rates coupled with stable inflation erode investor demand for gold, which doesn’t pay interest or offer dividends. The metal has dropped almost 10 percent this year.

Gold futures for February delivery slid 0.7 percent to settle at $1,068.30 an ounce at 1:45 p.m. on the Comex in New York. Trading was about 50 percent below the 100-day average for this time, according to data compiled by Bloomberg.

Holdings in global exchange-traded funds backed by bullion touched a six-year low of 1,458.19 metric tons on Dec. 17. Assets were at 1,470.29 tons on Dec. 23, the latest data compiled by Bloomberg show.

Silver futures for March delivery dropped 3.4 percent to $13.884 an ounce on the Comex, the biggest loss since Dec. 17. On the New York Mercantile Exchange, platinum futures for April delivery fell 0.2 percent to $882.60 an ounce, while palladium futures for March delivery slumped 1.3 percent to $551.95 an ounce.

Source: Bloomberg

Oil Falls From 3-Week High as Iran Says Exports Priority

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Oil dropped from a three-week high as Iran repeated its goal of boosting crude exports after sanctions on the nation are lifted.

Futures slipped 3.4 percent in New York. Iran’s priority is to boost shipments to pre-sanction levels, Oil Minister Bijan Namdar Zanganeh said, according to the state-backed IRNA news agency. Commodities tumbled amid fresh concerns about Chinese economic growth as the Shanghai Composite Index fell the most in a month.

WTI for February delivery slipped $1.29 to settle at $36.81 a barrel on the New York Mercantile Exchange. Prices rose 1.6 percent to $38.10 on Thursday, the highest since Dec. 4. Trading was closed Friday for the Christmas holiday. The volume of all New York oil futures traded was 58 percent below the 100-day average at 2:50 p.m.

Brent for February settlement fell $1.27, or 3.4 percent, to end the session at $36.62 a barrel on the London-based ICE Futures Europe exchange. Prices touched $35.98 on Dec. 22, the lowest since 2004. The European benchmark crude closed at a 19-cent discount to WTI.

Source: Bloomberg

Japan Stocks Decline After Monday Gain as Commodity Shares Slip

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Japanese shares fell, with the Topix index dropping from its biggest gain in two weeks, as commodities shares led losses following a decline in U.S. stocks.

The Topix index slipped 0.3 percent to 1,524.84 as of 9:09 a.m. in Tokyo, with 26 of the 33 industry groups falling. The measure posted its biggest gain since Dec. 17 on Monday on the lowest turnover in a year. The Nikkei 225 Stock Average lost 0.3 percent to 18,824.74. The yen traded little changed at 120.35 per dollar after falling for the first time in five days yesterday.

E-mini futures on the Standard & Poor’s 500 Index were unchanged. The underlying measure dropped 0.2 percent on Monday after resuming trading following a Christmas holiday. Energy companies resumed their familiar role as the market’s worst performers, while gains in Amazon.com Inc. and Walt Disney Co. helped mute declines.

Oil led a retreat among commodities Monday, sliding 3.4 percent from a three-week high as Iran repeated its goal of boosting exports after sanctions on the country are lifted. A drop in Chinese industrial profits also weighed on sentiment toward raw materials.

Source : Bloomberg

U.S. Stocks Slip With Crude Weighing on Energy as Year-End Looms

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Gains in Amazon.com Inc. and Walt Disney Co. helped U.S. stocks mute declines led by energy shares, as the Standard & Poor’s 500 Index struggled to advance for the year entering the final trading days of 2015.

The S&P 500 slipped 0.2 percent to 2,056.55 at 4 p.m. in New York, as the gauge in afternoon trading whittled down an earlier 0.8 percent decline. This week is shortened, with markets closed for the New Year’s Day holiday on Friday.

While policy makers expect the pace of future rate boosts will be gradual, they have emphasized that the path depends on progress in economic data. Reports this week include readings on home prices, consumer confidence and pending home sales.

Stocks are still defying the historical trend of gains in the final month of the year. Amid a series of sharp rallies and selloffs revolving around investor focus on the first U.S. rate increase in almost a decade, the S&P 500 is heading for its worst December since 2002, down 1.2 percent. The main U.S. equity benchmark today lost its slim advance for the year, now down 0.1 percent after weaving between gains and losses throughout December.

Source : Bloomberg

U.S Stocks Fall With Crude Weighing on Energy as Year-End Looms

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U.S. stocks declined to begin their final trading days of 2015, with the Standard & Poor’s 500 Index struggling to advance for the year, as commodity shares tracked a retreat in oil following crude’s strongest weekly gain in four months.

Energy companies resumed their role as the market’s worst performers after a one-week reprieve, with Chevron Corp. and Marathon Oil Corp. dropping at least 1.8 percent. Copper producer Freeport-McMoRan Inc. sank 7.4 percent after climbing 24 percent in the prior five sessions. Walt Disney Co. rose as “Star Wars: The Force Awakens” surged past $1 billion in worldwide sales.

The S&P 500 slipped 0.6 percent to 2,049.06 at 12:46 p.m. in New York, giving up its gain for the year after its best week since Nov. 20. The Dow Jones Industrial Average lost 86.77 points, or 0.5 percent, to 17,465.40. The Nasdaq Composite Index fell 0.7 percent. Trading in S&P 500 shares was 44 percent below the 30-day average for this time of day. This week is shortened, with markets closed for the New Year’s Day holiday on Friday.

Source: Bloomberg

Dollar Poised for First Monthly Decline Since August Versus Euro

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The dollar is on pace for the first monthly decline since August as investors bet the Federal Reserve will wait until at least April to raise interest rates again after last week’s liftoff from near zero.

Hedge funds reduced futures bets for a second week that the dollar will advance against the 19-nation currency, in the last positioning data available before the U.S. central bank raised its target for the first time in almost a decade on Dec. 16.

The dollar is up against almost all major currencies this year as investors prepared for Fed liftoff while other central banks added stimulus. Yet U.S. policy makers have emphasized that they’ll stick to a gradual pace of increases to assess the economy’s response to higher borrowing costs and as commodity prices tumble.

The U.S. currency fell 0.4 percent to $1.0915 per euro at 5 p.m. New York time, extending this month’s losses to 3.3 percent. The dollar’s depreciated 1.6 percent in December to 121.19 yen.

Source: Bloomberg

Brent Oil Slides to 11-Year Low as Producers Seen Worsening Glut

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Brent crude slumped to the lowest since mid-2004 amid speculation suppliers from the Middle East to the U.S. will exacerbate a glut as they fight for market share.

Futures fell 1.4 percent in London after a 2.8 percent drop last week. Producers are focusing on reducing costs amid the price decline, Qatar Energy Minister Mohammed Al Sada said Sunday at a gathering of Arab oil-exporting nations in Cairo. Drillers in the U.S. put the most rigs back to work since July, adding 17.

Oil has collapsed below levels last seen during the 2008 global financial crisis on signs the market’s oversupply will worsen. The Organization of Petroleum Exporting Countries effectively abandoned output limits at a Dec. 4 meeting, while the U.S. on Friday passed legislation that lifted a 40-year ban on crude exports.

Brent for February settlement dropped 53 cents to $36.35 a barrel on the ICE Futures Europe exchange. It’s the lowest close since July 5, 2004. Prices are down 37 percent this year, set for a third annual loss.

West Texas Intermediate for January delivery, which expired Monday, rose 1 cent to settle at $34.74 a barrel on the New York Mercantile Exchange. It touched $33.98, the lowest level since Feb. 13, 2009. The more active February contract fell 25 cents to $35.81.

Source: Bloomberg

U.S. Stocks Rise From Lowest Since October Following 2-Day Rout

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U.S. stocks surged in the final minutes of trading, rebounding after the biggest two-day rout in three months as financial and technology companies paced a climb from equities’ lowest levels since October.

The Standard & Poor’s 500 Index gained 0.8 percent to 2,021.21 at 4 p.m. in New York, during a session that saw the gauge erase an early 0.9 percent climb.

Investors have wavered between optimism on the U.S. economy and concern that a slowdown on China will spread. Worries about weakness in the world’s second-largest economy were stoked in August by a surprise currency devaluation, triggering the S&P 500’s first correction in four years. The gauge rebounded as much as 13 percent from a summer low through early November, before giving up 4.9 percent through last week.

The equity benchmark has fallen 2.9 percent in December, bucking the historical seasonal trend of gains, and is on track for its biggest annual drop since the 2008 financial crisis. That puts even more pressure on the so-called Santa Claus rally to save the year. Historically, the final two-weeks of December deliver a gain of 1.7 percent.

Source: Bloomberg

U.S. Stocks Fluctuate as Energy Shares Slip, Bank Rally Fades

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U.S. stocks fluctuated after erasing a rebound from two-month lows, as weakness in crude oil weighed on energy shares and a rally among banks faded.

The KBW Bank Index wiped out a gain of as much as 1.3 percent, on the heels of the measure’s worst two-day drop since August. Energy companies slumped as Brent crude oil fell to an 11-year low. Walt Disney Co. slipped 1 percent, falling for a third day despite a record weekend at the box office for the company’s “Star Wars: The Force Awakens.” film.

The Standard & Poor’s 500 Index rose 0.3 percent to 2,010.51 at 12:11 p.m. in New York, after erasing a 0.9 percent climb. The Dow Jones Industrial Average added 20.81 points, or 0.1 percent, to 17,149.36. The Nasdaq Composite Index gained 0.4 percent.

Source: Bloomberg

European Stocks Reverse Gains, Falling With Spain IBEX 35

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Declines in energy shares dragged lower European equities that have managed to stay afloat most of the day despite plunges in Spanish equities.

The Stoxx Europe 600 Index dropped 0.3 percent at 4 p.m. in London, erasing an advance of as much as 0.8 percent. Spain’s IBEX 35 Index dropped 2.7 percent, set for its biggest plunge in three months, after the nation’s prime minister lost his majority in an inconclusive weekend election.

The Stoxx 600 is sliding after posting its best week in a month, thanks to a jump in exporters and financial companies following the first Federal Reserve interest-rate increase in almost a decade. The gauge traded at 15.7 times estimated earnings on Friday, less than at its April peak and lower than the valuation for the Standard & Poor’s 500 Index.

While the Stoxx 600 advanced 5.5 percent this year through Friday, it gave up most of its initial rally amid global-growth concerns. It closed 13 percent below the record reached in April.

Source: Bloomberg

Dollar Rises Against Yen as Fed Rate Increase Outlook Holds

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The dollar gained against the yen, bolstered by the outlook for more U.S. interest-rate increases as markets began winding down before the year-end holidays.

A gauge of the dollar climbed 0.7 percent last week, the biggest gain since the start of November, after the Federal Reserve raised interest rates for the first time since 2006. Futures show the odds of an April rate hike increased to 50 percent. The euro was little changed as results from Spain’s election on Sunday left the country with no clear governing majority after Prime Minister Mariano Rajoy’s People’s Party lost more than a third of its support.

The greenback advanced 0.1 percent to 121.25 yen as of 8:39 a.m. in Tokyo after falling 1.1 percent on Friday. The U.S. currency was unchanged at $1.0868 per euro from Dec. 18 when it fell 0.4 percent.

The Bloomberg Dollar Spot Index, which tracks the currency against 10 major peers, was little changed at 1,234.77. The gauge reached the highest in data going back more than 10 years on Dec. 17 after members of the Federal Open Market Committee unanimously voted to raise the benchmark from a record low.

Source: Bloomberg

Saham Jepang Terkoreksi Ditengah Penguatan Yen Redupkan Eksportir

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Saham Jepang mengikuti penurunan ekuitas AS setelah yen naik terhadap dolar, meredupkan prospek pendapatan sektor eksportir, dan minyak mentah melanjutkan kemerosotannya.

Indeks Topix turun dengan 0,5% menjadi 1,529.02 pada 09:01 pagi di Tokyo, setelah mencatat penurunan mingguan keempat beruntun pada hari Jumat. Indeks Nikkei 225 Stock Average turun 0,6% menjadi 18,873.93. Yen diperdagangkan pada 121,30 per dolar setelah penguatan 1,1% pada hari Jumat karena Bank tweak Jepang untuk program stimulus yang mengecewakan investor. Saham AS jatuh ke level terendah dalam dua bulan karena pasar menyesuaikan dengan suku bunga AS mendekati nol, sementara saham energi memimpin kerugian karena minyak terus diperdagangkan mendekati level terendah enam tahun.

Indeks berjangka Standard & Poor 500 naik 0,3% setelah Indeks utama anjlok 1,8% pada hari Jumat. Walt Disney Co turun 3,8%, sementara Apple Inc kehilangan 2,7%. Volume melonjak karena acara kuartalan yang dikenal sebagai quadruple witching, ketika kontrak berjangka dan opsi pada indeks dan saham individu berakhir.

BOJ meluncurkan perubahan stimulusnya pada Jumat, termasuk memperluas jatuh tempo pembelian obligasi pemerintah dan meluncurkan sebuah program baru untuk membeli exchange-traded funds perusahaan membuat investasi modal. Topix ditutup 1,8% lebih rendah setelah melonjak sebanyak 2%.(yds)

Sumber: Bloomberg

Asian Stocks Set to Follow U.S. Rout as Haven Yen Holds Advance

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Asian stocks looked set to track Friday’s retreat in U.S. equities, with the safe-haven yen holding most of its biggest gain in more than a week amid a rout in the price of oil.

Shares in New Zealand declined 0.2 percent, while futures on indexes from Tokyo to Sydney signaled losses after U.S. stocks tumbled on Friday to their lowest closing level in two months. The euro was little changed while Spanish government bonds may weaken on Monday after Spain was left with no clear governing majority following the nation’s election. Crude slid to the lowest level in more than six years last week, bucking gains seen in commodities including copper, sugar and gold.

The S&P/NZX 50 Index declined 0.2 percent as of 7:21 a.m. in Tokyo on Monday. Futures on Australia’s benchmark were down 0.8 percent in most recent trading, while those on the Kospi index in Seoul weakened 0.3 percent.

Nikkei 225 Stock Average futures slid 0.6 percent to 18,830 in Osaka, with contracts denominated in yen traded in Chicago falling 2.3 percent last session. The Bank of Japan on Friday modified its stimulus program to lengthen the average maturities of government bonds it buys and unveiled new measures to purchase exchange-traded funds. Governor Haruhiko Kuroda said the changes were designed to make it easier for the BOJ to maintain its current policy and didn’t constitute additional easing.

In Hong Kong, futures on the Hang Seng and Hang Seng China Enterprises gauges lost at least 0.5 percent, while those on the FTSE China A50 Index were down 0.2 percent in recent trade.

Source: Bloomberg

Gold Slumps Most Since March as U.S. Rate Increase Boosts Dollar

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Gold posted its biggest loss since March after the Federal Reserve’s first interest-rate increase in almost a decade strengthened the dollar, curbing the appeal of owning precious metals.

The U.S. central bank on Wednesday unanimously voted to raise borrowing costs by a quarter of a percentage point. Higher rates reduce the attractiveness of holding bullion, which doesn’t pay interest or give returns like assets such as bonds or equities.

Gold slumped to a five-year low earlier this month as traders bet that policy makers would raise rates at the latest meeting. The decision was the culmination of a yearlong effort to prepare investors and consumers for the end of an unprecedented era of easy money. Fed Chair Janet Yellen said further tightening would be slow.

Gold futures for February delivery dropped 2.5 percent to settle at $1,049.60 an ounce at 1:42 p.m. on the Comex in New York, the biggest decline since March 6. The metal is headed for a third straight annual decline.

Bullion typically moves inversely to the dollar, which rose 0.8 percent against a basket of 10 major currencies. Fed policy makers forecast that the short-term rate will rise to 1.375 percent at the end of 2016, implying four quarter-point increases in the target range next year, based on the median number from 17 officials.

Source : Bloomberg

Oil Nears Lowest Since 2009 After U.S. Supply Glut Expands

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Oil neared the lowest level since February 2009 as U.S. crude inventories surged and the Federal Reserve raised interest rates for the first time in almost a decade.

Futures fell as much as 2.5 percent in New York after Wednesday’s 4.9 percent decline. U.S. stockpiles climbed to 490.7 million barrels last week, the highest level for this time of year since 1930, the Energy Information Administration reported yesterday. Goldman Sachs Group Inc. warned of “high risks” that oil may fall even lower as supplies swell. The Fed’s decision bolstered the dollar, diminishing the appeal of commodities denominated in the U.S. currency.

Oil is trading near levels last seen during the global financial crisis on signs a record surplus will worsen. The Organization of Petroleum Exporting Countries earlier this month effectively abandoned production limits to defend market share, while the White House on Wednesday announced its support for a deal reached by congressional leaders that would end the nation’s 40-year restrictions on crude exports.

" West Texas Intermediate for January delivery slipped 50 cents, or 1.4 percent, to $35.02 a barrel at 2:27 p.m. on the New York Mercantile Exchange. Prices have dropped 35 percent this year and are heading for a second annual decline.

Brent for February delivery sank 25 cents, or 0.7 percent, to $37.14 a barrel on the London-based ICE Futures Europe exchange. The January contract expired Wednesday after decreasing to $37.19, the lowest close since December 2008.

Source : Bloomberg

U.S. Stocks Erase Post-Fed Rally, Commodity Shares Lead Retreat

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U.S. stocks dropped, ending the Standard & Poor’s 500 Index’s three-day rally, as investors moved past the Federal Reserve’s interest-rate increase and returned their focus to weakness in commodities and prospects for global growth.

A stronger dollar in the wake of the Fed’s move weighed on energy and raw-material shares, as crude tumbled below $35 a barrel. General Mills Inc. sank 3.3 percent after its quarterly results missed estimates, and Oracle Corp. slumped after its revenue fell short of forecasts. FedEx Corp. gained 2 percent after beating profit targets.

The S&P 500 fell 1.5 percent to 2,041.95 at 4 p.m. in New York, erasing Wednesday’s post-Fed gains, and paring an advance this week that previously had the gauge up 3 percent. The index slipped below its average prices during the past 50 and 200 days.

Earnings had some influence on Thursday’s trading, with Oracle sinking the most in six months after revenue missed analysts’ estimates for the 10th time in 12 quarters. The company has been pressured as customers transition from the traditional model of buying software installed on corporate computer systems to products delivered over the Internet.

General Mills had its biggest slide since September after the maker of Cheerios and Lucky Charms posted results that missed estimates, hurt by sluggish demand for breakfast cereals in the U.S. FedEx gained 2.2 percent after its earnings beat estimates and the package delivery giant said growth in e-commerce is resulting in record holiday shipments so far this season.

Source : Bloomberg

U.S. Stocks Decline After Rally as Commodity Shares Lead Retreat

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U.S. stocks declined following the Standard & Poor’s 500 Index’s longest winning streak since October, as investors moved past the Federal Reserve’s interest-rate increase and returned their focus to weakness in commodities and prospects for global growth.

A stronger dollar in the wake of the Fed’s move weighed on energy and raw-material shares, while crude oil fell for a second day. Cereal maker General Mills Inc. sank 3.3 percent after its quarterly results missed estimates, and Oracle Corp. slumped after its revenue missed analysts’ estimates. FedEx Corp. gained 2.9 percent after its earnings beat analysts’ targets.

The S&P 500 fell 1.2 percent to 2,049.23 at 12:52 p.m. in New York, paring an advance this week that previously had the gauge up 3 percent. The index extended declines after falling below its average prices during the past 50 and 200 days. The Dow Jones Industrial Average lost 170.74 points, or 1 percent, to 17,578.35. The Nasdaq Composite Index declined 0.9 percent.

Source: Bloomberg

Exporters Lead European Stock Rally as Fed Delivers on Rate Rise

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Exporters and financial companies led a rally in European stocks after the Federal Reserve fulfilled investor expectations by raising rates for the first time in almost a decade.

Investec Plc and Man Group Plc rose at least 3.6 percent, while carmakers Volkswagen AG and Daimler AG advanced 3.3 percent or more. Germany’s DAX Index was among the best performers in western Europe, up 2.6 percent.

The Stoxx Europe 600 Index climbed 1.2 percent to 364.9 at the close of trading, paring earlier gains of as much as 2.3 percent. It rose for a third day, after Fed Chair Janet Yellen signaled the U.S. economy is performing well and any further tightening will be slow. Yesterday’s quarter-point rate increase marked the culmination of the Fed’s yearlong effort to prepare investors for the end of an unprecedented era of stimulus.

Among other stocks active, Standard Chartered Plc, which gets most of its revenue from Asia, climbed 7.3 percent after Hong Kong raised its base rate for the first time in nine years. Hellenic Exchanges SA gained 7.3 percent after a filing showed Goldman Sachs Group Inc. raised its stake in the bourse operator in December.

Casino Guichard-Perrachon SA tumbled 12 percent for the biggest decline on the Stoxx 600 after short seller Carson Block said he’s betting against the French supermarket operator. Rallye SA, its biggest shareholder, plunged 19 percent after Block said the stock is worth close to zero.

Elementis Plc declined 6.6 percent after the specialty-chemicals maker forecast full-year earnings at the lower end of analysts’ estimates, citing challenging markets.

Source: Bloomberg

Crude Tumbles as U.S. Supply Surges Amid Output, Import Gains

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Oil tumbled after U.S. crude inventories climbed to the highest level for this time of year since 1930.

Crude supplies rose to 490.7 million barrels, leaving stockpiles more than 120 million barrels above the five-year seasonal average, government data showed. The discount of crude in New York to global marker Brent earlier dropped to an 11-month low amid expectations that a 40-year-old ban on most American crude exports will be lifted. Futures maintained losses after the Federal Reserve raised interest rates for the first time in almost a decade in a widely telegraphed move.

West Texas Intermediate oil for January delivery dropped $1.30, or 3.5 percent, to $36.05 a barrel at 2:02 p.m. on the New York Mercantile Exchange. The U.S. benchmark slid below $35 a barrel Monday for the first time since February 2009. The volume of all futures traded was 29 percent above the 100-day average.

Brent for January delivery, which expires today, fell $1.14, or 3 percent, to $37.31 a barrel on the London-based ICE Futures Europe exchange. The more-active February contract settlement slid 2.8 percent to $37.56.

WTI futures for January were $1.26 a barrel below Brent after earlier shrinking to as little as 20 cents, the smallest discount in a year. The WTI February contract earlier traded at a premium to the international benchmark for the first time in five years.

Source : Bloomberg

Gold, Metals Gain After Policy Makers Raise U.S. Interest Rates

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Gold maintained gains after the Federal Reserve boosted U.S. interest rates for the first time since 2006 while signaling that the pace of subsequent increases will be “gradual.” Silver and copper also held on to earlier increases.

The Federal Open Market Committee unanimously voted to set the new target range for the federal funds rate at 0.25 percent to 0.5 percent, up from zero to 0.25 percent.

Most metals are headed for an annual loss as signs of a strengthening U.S. labor market boosted speculation that the Fed would tighten monetary policy. Higher rates cut the appeal of metals, which don’t pay interest like competing assets. With gold trading near the cheapest since 2010 and copper close to a six-year low, some traders say prices may be near a bottom as the focus shifts to the timing of the next rate increase.

Gold for immediate delivery climbed 0.8 percent to $1,069.30 an ounce at 2:06 p.m. in New York.

Copper futures for March delivery advanced 0.6 percent to $2.0695 a pound on the Comex in New York in electronic trading.

Gold dropped seven of the past eight weeks and copper last month slid to the lowest in six years as improving economic data boosted the U.S. dollar, curbing the appeal of metals as alternative assets.

The Philadelphia Stock Exchange Gold and Silver Index of 30 producers climbed 2.7 percent. A gauge of 18 base-metals companies tracked by Bloomberg Intelligence rose 1.8 percent.

Source: Bloomberg

U.S. Stocks Rally Amid First Fed Interest-Rate Boost Since 2006

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U.S. stocks rallied as the Federal Reserve ended seven years of near-zero interest rates, and assured investors that the world’s largest economy is resilient enough to withstand future increases in borrowing costs at a gradual pace.

Equities extended gains following the central bank’s move, pushing the Standard & Poor’s 500 Index’s biggest three-day rally since Oct. 5 as the benchmark rebounded from its worst weekly drop since August. Gains were widespread with nine of the gauge’s 10 main industries rising more than 1 percent as Fed Chair Janet Yellen expressed confidence in the economic outlook.

The S&P 500 jumped 1.5 percent to 2,072.98 at 4 p.m. in New York, rising for three consecutive days for the first time since October while erasing losses for the year. The benchmark surged above its average prices during the past 50 and 200 days.

While policy makers have decided the economy is ready for higher borrowing costs, they continue to stress that progress in economic data will dictate the ultimate course. A report today showed new-home construction rebounded in November, led by gains in single-family dwellings. Work began on the most stand-alone houses since January 2008, and permits for similar projects reached an eight-year high.

A separate gauge showed manufacturing stagnated last month, held back by less production of durable goods such as automobiles and metals that reflects weak global demand.

Source: Bloomberg

European Stocks Rise, Paring Gains in Countdown to Fed Decision

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Investors pushed European stocks higher for a second day before the Federal Reserve’s much-awaited interest-rate decision, though equities pared gains in the last hour of trading.

The Stoxx Europe 600 Index climbed 0.2 percent at the close of trading in London, trimming an advance of as much as 1 percent. Anglo American Plc led an advance in miners, up for the first time in 12 days. Energy producers, leading the rally earlier, ended little changed as oil slipped.

Among stocks moving on corporate news, Casino Guichard-Perrachon SA rallied 6.5 percent after saying it will sell assets to cut debt by more than 2 billion euros ($2.2 billion) next year. Rolls-Royce Holdings Plc advanced 4.9 percent after announcing a management shakeup. Vestas Wind Systems A/S climbed 4.3 percent as U.S. Congress is set to vote on a bill that would extend renewable-energy credits. Altice NV surged a record 13 percent, after reaching its lowest price since April 2014 on Monday, as Deutsche Bank AG recommended buying the shares.

Dialog Semiconductor Plc lost 4.8 percent after cutting its fourth-quarter revenue forecast, and peer ASM International NV dropped 4.6 percent. Zodiac Aerospace fell 3.7 percent after reporting a decline in quarterly sales.

Source: Bloomberg

U.S. Stocks Edge Higher for Third Day Before Fed Rate Decision

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U.S. stocks climbed for a third day as investors await what is widely expected to be the first Federal Reserve interest-rate increase in almost a decade.

Leadership shifted Wednesday as crude oil retreated and energy slumped after two sessions out in front. Industrials paced early gains, with Honeywell International Inc. up 4.5 percent after its 2016 earnings forecast beat some analysts’ estimates. Homebuilders rose after housing starts were stronger than forecasts. Equities earlier trimmed their climb as crude extended a drop after weekly inventory data showed stockpiles remain ample.

The Standard & Poor’s 500 Index gained 0.2 percent to 2,047.55 at 11:48 a.m. in New York, after rising as much as 0.8 percent. The gauge’s advance faltered near its average price during the past 50 days. The Dow Jones Industrial Average climbed 16.46 points, or 0.1 percent, to 17,541.37. The Nasdaq Composite Index rose 0.2 percent. West Texas Intermediate crude futures lost 4.4 percent after rising almost 5 percent during the two prior sessions.

The Federal Open Market Committee is poised to boost rates today for the first time since 2006, ending a campaign of stimulus that helped stoke what could become the second-longest American rally on record next year. Fed officials will announce their rate decision at 2 p.m. in Washington, and traders are pricing in a 76 percent chance of liftoff.

Barring a shock decision, investors are about to find out how much stocks are worth in the absence of Fed support that has helped restore $15 trillion to share values since 2009. History suggests two immediate consequences from tightening: higher volatility and lower valuations, meaning earnings and ultimately the economy are left to drive prices.

The S&P 500 fell in seven of eight sessions, losing 5.7 percent after the Fed balked at raising rates in September, citing a threat to global growth amid a slowdown in China and turmoil in financial markets. By mid October, traders priced in less than 30 percent chance of a rate increase this year while equities headed for their strongest monthly gain since 2011. Odds jumped to nearly 70 percent after a stronger-than-forecast October jobs report on Nov. 6.

A report today showed new-home construction rebounded in November, led by gains in single-family dwellings that signal the residential real estate industry will continue to support growth. Work began on the most stand-alone houses since January 2008, and permits for similar projects reached an eight-year high. A separate gauge showed manufacturing stagnated in last month, held back by less production of durable goods such as automobiles and metals that reflects weak global demand.

The S&P 500 capped its first back-to-back gains in more than a month yesterday. Prospects for the first U.S. rate increase and a deepening oil rout had sparked a selloff in riskier assets, putting the benchmark on track for its worst December in 13 years. The equity gauge has slipped 3.9 percent since a May record, and is poised for its biggest annual drop since 2008.

The Chicago Board Options Exchange Volatility Index, fell 4 percent Wednesday to 20.12, extending its decline this week to almost 18 percent. The measure of market turbulence known as the VIX surged 65 percent last week, the most since a record monthly jump in August.

Seven of the S&P 500’s 10 main industries rose, with utilities up 1.7 percent and phone companies rising 1.3 percent. Energy, materials and technology shares lagged.

Source : Bloomnberg

European Shares Rally Most in 10 Weeks Before Fed Rate Decision

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European stocks rallied the most since Oct. 5 as investors bet that the U.S. economy is strong enough to cope with the Federal Reserve’s expected first interest rate increase in almost a decade.

Tullow Oil Plc helped push energy companies to the best performance of the 19 industry groups on the Stoxx Europe 600 Index after the successful exploration of a well increased the potential size of oil resources in Kenya. Total SA and Royal Dutch Shell Plc added at least 3.2 percent as oil prices jumped. Automakers climbed after data from the European Automobile Manufacturers’ Association showed car sales in the region increased 14 percent in November. Glencore Plc rose 3 percent after JPMorgan Chase & Co. recommended buying the shares, citing its “credible” strategy update.

The Stoxx Europe 600 Index advanced 2.9 percent to 359.58 at the close of trading, snapping a five-day losing streak. Germany’s DAX Index and France’s CAC 40 were among the biggest gainers, rising at least 3.1 percent. The Stoxx 600 is still down 6.7 percent this month, on course for its worst December since 2002 amid a rout in commodities, concern about U.S. monetary policy tightening and disappointment over the extent of European stimulus.

Traders are now pricing in a 78 percent chance that U.S. policy makers will increase borrowing costs tomorrow.

Declines in miners and energy companies dragged European stocks lower yesterday as investors turned away from riskier assets amid lingering fears about global growth. A high-yield fund liquidating its portfolio also contributed to bearish sentiment across markets.

Among stocks moving on corporate news today, Syngenta AG advanced 2.2 percent as China National Chemical Corp. was said to be weighing a new bid after its chairman met with officials from the world’s largest chemical maker last week.

Volkswagen AG added 1.7 percent after it posted a 4.2 percent increase in November sales, even as it suffered its biggest decline in monthly European market share since September’s emissions scandal.

Sanofi rose 5.3 percent after saying it is in exclusive talks to swap assets with Germany’s Boehringer Ingelheim GmbH in a 22.8 billion-euro ($25 billion) transaction. Metro AG gained 4.4 percent after reporting fourth-quarter profit that beat analysts’ estimates and forecasting further improvements.

Abengoa SA jumped in the final minutes of trading to close 11 percent higher after Reuters reported that the company’s creditors may provide an additional 100 million euros in January.

Aveva Group Plc tumbled 28 percent after saying it has ended talks for a merger with Schneider Electric SE.

Source : Bloomberg

Oil Extend Gain From Six-Year Low as U.S. May Lift Export Ban

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Crude climbed a second day after tumbling to a six-year low amid signs the U.S. may allow unfettered exports for the first time in 40 years.

West Texas Intermediate rose as much as 4.3 percent, adding to Monday’s 1.9 percent gain amid a broader rally of U.S. and European stocks. House Democrats are open to lifting the ban on American crude exports if they get adequate concessions in exchange, a Democratic leadership aide said Monday. U.S. crude supplies probably fell last week, according to a Bloomberg survey before government data on Wednesday.

Oil is trading close to levels last seen during the global financial crisis this week after the Organization of Petroleum Exporting Countries effectively abandoned output limits in an effort to defend market share. Repealing the restrictions on shipping U.S. crude overseas could open new markets, buoying the price of domestic crude grades.

WTI for January delivery rose $1.19, or 3.3 percent, to $37.50 a barrel at 1:25 p.m. on the New York Mercantile Exchange. The U.S. benchmark slid below $35 a barrel Monday for the first time since February 2009. The volume of all futures traded was 46 percent above the 100-day average. The gap between WTI and Brent -- the North Sea grade used globally -- shrank to as little as $1.28 a barrel, the narrowest gap since January.

Brent for January settlement, which expires Wednesday, rose $1.03, or 2.7 percent, to $38.95 a barrel on the London-based ICE Futures Europe exchange. The more-active February contract increased $1.09 to $39.25.

Source: Bloomberg

Dollar Climbs Before Feds Interest-Rate Decision as Bonds Fall

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The dollar climbed versus the euro and yen as bond yields rose before the Federal Reserve’s interest-rate decision Wednesday.

The greenback gained as U.S. two-year yields reached the highest level since May 2010 after a report showed core inflation rose in November for a third month. A measure of price swings in the foreign-exchange market accelerated to close to the most this month.

With futures contracts showing a 78 percent likelihood that the U.S. will raise its benchmark from near zero on Wednesday, traders are looking past the first increase and contemplating a landscape of relatively low borrowing costs for years to come. A gauge of the dollar has surged 8 percent in the past year in anticipation of the Fed raising rates in contrast with counterparts in Europe and Japan who are carrying out unprecedented stimulus.

The dollar added 0.7 percent to $1.0913 per euro as of 2:02 p.m. New York time, after dropping as much as 0.6 percent. The currency gained 0.6 percent to 121.77 yen.

Source : Bloomberg

U.S. Stocks Rally With Crude Oil for Second Day as Fed Gathers

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The Standard & Poor’s 500 Index capped its first back-to-back gains in more than a month as energy companies led a rally with crude oil, while Federal Reserve officials started a two-day meeting at which they are widely expected raise interest rates for the first time since 2006.

Chevron Corp. and Exxon Mobil Corp. gained more than 3.8 percent, taking their two-day advances to more than 6.8 percent. Financial shares increased as concern over turmoil in high-yield bonds abated, and banks rallied the most in seven weeks on the eve of what most believe will be the end of the Fed’s zero interest rate policy.

The S&P 500 climbed 1.1 percent to 2,043.41 at 4 p.m. in New York, marking its first consecutive advances since Nov. 3.

Prospects for the first U.S. rate increase since 2006 and a deepening oil rout had sparked a selloff in riskier assets in December. The S&P 500’s 1.8 percent decline is bucking the historical trend of gains in the final month, with the equity gauge is on track for its worst December in 13 years and the biggest annual drop since 2008. It has slipped 4.1 percent since a May record.

Source: Bloomberg