Oil Declines as Iraq Signals Output Gain to Offset Price Plunge

Oil fell as Iraq said it needs to boost crude output and exports to compensate for collapsing prices, exacerbating a global supply glut.Futures declined as much as 1 percent in New York. Iraq has lost about 50 percent of its revenues because of the price decrease, Rowsch Nuri Shaways, the deputy prime minister of OPEC™s second-biggest producer, said in Davos, Switzerland. U.S. crude supplies probably expanded a second week through Jan....

Gold loses steam above $1,300 as ECB stimulus measures loom

Gold lost some of its earlier momentum to snap a seven-day winning streak Wednesday, unable to defend its first foray above $1,300 an ounce since August. Gold for February delivery relinquished its earlier high to dip 50 cents to settle at $1,293.70 an ounce after settling at its highest price in five months. Despite Wednesday™s retreat, the precious metal is still up about 9% year to date. March silver futures meanwhile, advanced 24...

Japan Stocks Swing as Insurers Drop, Communications Shares Rise

Japanese stocks swung between gains and losses as insurers fell and communication stocks rose amid speculation the European Central Bank will stimulate growth through asset purchases.The Topix slipped 0.1 percent to 1,388.76 as of 9:07 a.m. after rising less than 0.1 percent. The Nikkei 225 Stock Average added 0.2 percent to 17,312.The ECB announces it policy decision later today. An Executive Board proposal foresees asset purchases of...

Asian Stocks Fall Before European Central Bank Stimulus Decision

Asian stocks fell even amid speculation the European Central Bank will boost stimulus through a sovereign-bond purchase program under the quantitative-easing strategy. The MSCI Asia Pacific Index lost 0.1 percent to 134.46 as of 9:05 a.m. in Tokyo before markets open in China and Hong Kong. An ECB Executive Board proposal calls for as much as $1.3 trillion in asset purchases through the end of 2016, according to two euro-area central-bank...

U.S. Stocks Advance for Third Day Amid Earnings, ECB Speculation

U.S. stocks rose for a third day as energy shares rallied and speculation grew that the European Central Bank will provide more stimulus. Netflix Inc. jumped 17 percent as it posted subscriber growth that beat projections and said it will complete its global expansion within two years. Energy companies climbed 1.8 percent for a third day of gains. International Business Machines Corp. slipped 3.1 percent after its earnings forecast...