Oil Holds Below $60 a Barrel as Pace of U.S. Drilling Cuts Slows

Oil held below $60 a barrel as U.S. companies reduced the number of active rigs at the slowest pace since a prolonged retreat in drilling began in December. Futures were little changed in New York after falling 0.3 percent on Friday, capping a three-day drop. The rig count slipped by eight to 660, the smallest cut in 23 weeks of declines, according to Baker Hughes Inc. Demand...

Dollar Drops to Four-Month Low as Downbeat Outlook Halts Climb

The mighty dollar isn’t getting any help from U.S. consumers. The currency erased gains after consumer confidence unexpectedly fell by the most in more than two years, reflecting Americans’ dim economic outlook. The greenback extended a weekly decline after a duo of manufacturing indicators missed expectations, scuppering an earlier rally. The Bloomberg Dollar Spot Index, which tracks the greenback versus 10 major trading partners, ...

China’s Stock-Index Futures Decline as Share Sales Lock Up Funds

China’s stock-index futures fell amid concern new share sales will lure funds from existing equities. Futures on the CSI 300 Index expiring in June, the most active contract, lost 1.5 percent to 4,550.80 as of 9:26 a.m. local time. Twenty companies are scheduled to sell initial public offering shares from Tuesday to Thursday, which may freeze 2.8 trillion yuan ($451.1 billion) based on the median estimate of a Bloomberg survey. The ...

Asian Stocks Track U.S. Share Gains as Weak Data Spur Fed Bets

Asian stocks rose for a second day, following gains in U.S. shares as weaker-than-expected economic data spurred bets the Federal Reserve won’t rush to raise interest rates. The MSCI Asia Pacific Index added 0.1 percent to 153.37 as of 9:06 a.m. in Tokyo after rising 1.4 percent last week. The Standard & Poor’s 500 Index extended a record Friday after data showed an unexpected drop in consumer confidence. Equities rose last week...

Japanese Stocks Advance as Investors Weigh Yen, Fed Rate Outlook

Japanese stocks rose as investors weighed a strengthening yen against a potential delay in any U.S. interest-rate increase. The Topix index climbed 0.3 percent to 1,612.07 as of 9:01 a.m. in Tokyo, after gaining 1.2 percent last week. The Nikkei 225 Stock Average advanced 0.1 percent to 19,748.08. The yen traded at 119.35 per dollar after last week strengthening by the most in a...