Yen Bulls Burned After BOJ's Surprise Spurs Biggest Rout in Year

The currency held losses against all major peers and bond yields dropped to fresh records on Monday after Kuroda unexpectedly announced a negative interest-rate strategy on Friday, setting off the yen’s biggest drop against the dollar since October 2014. The move hammered hedge funds and other large speculators that had built up the most bullish yen position in almost four years as a rout in global stocks spurred demand for havens. The...

Oil Records Second Weekly Gain Amid Output Cut Speculation

Oil recorded a second weekly gain amid speculation that OPEC and Russia will meet to discuss trimming crude production to bolster prices. Russian Energy Minister Alexander Novak said that while OPEC member Venezuela proposed a meeting next month, nothing is scheduled. Russia, after months of insisting it was happy to keep pumping at full throttle, suggested in recent comments it is open to compromise with the Organization of...

Asian Stocks Advance for Fourth Day Amid Central Bank Optimism

Asian stocks rose, with the regional benchmark index heading for its fourth day of advances, as shares in Tokyo extended Friday’s rally after the Bank of Japan stepped up its monetary stimulus. The MSCI Asia Pacific Index gained 0.4 percent to 121.82 as of 9:05 a.m. in Tokyo, extending its longest winning streak of the year as optimism grew that central banks around the world will support financial markets. Policy makers took the sting...

Japan Stocks Rise as Topix Pares Worst Annual Start Since 2009

Japanese stocks rose for a second day after the Bank of Japan’s unexpected boost to stimulus, paring the Topix index’s worst start to a year since 2009. Lenders fell again following the central bank’s decision to start charging for some of their deposits held at the institution. The Topix index added 1 percent to 1,446.97 as of 9 a.m. in Tokyo, after closing higher on Friday amid wild swings as investors assessed the BOJ’s plan to introduce...

U.S. Stocks Trim January Rout Amid BOJ Action

The U.S. stocks ended the worst January since 2009 with the best one-day gains in more than four months, after earnings from Microsoft Corp. exceeded expectations and the Bank of Japan stepped up monetary stimulus. Equity gains accelerated in the final hour, with the strong finish a fitting end to a weak month that featured sharp reversals on an almost daily basis. Microsoft led the surge Friday with its biggest gain in three months....

Dolar Australia Dekati Level US71c

Dolar Australia menguat seiring rebound komoditas dan pelemahan greenback. Pada pukul 07:00 (AEDT), unit lokal diperdagangkan pada level US70.78c, naik dari level US70.40c Kamis. Semalam, mata uang mencapai posisi tertinggi tiga minggu di level US 71,29 c. Penasihat Keuangan klien Senior OM Stuart Ive mengatakan rally tiga hari mata uang berlanjut seiring harga komoditas yang lebih tinggi menepikan risk-on appetite di pasar. Harga...

Pound Climbs as Accelerating Growth Counters ''Brexit'' Concern

The pound rose the most in seven weeks after a report showed the U.K.’s economic expansion accelerated in the fourth quarter. Sterling’s gain versus the dollar reversed a decline Wednesday which was the biggest in almost two weeks. Britain’s economy grew 0.5 percent in the final three months of 2015, compared with 0.4 percent in the third quarter, and matching the median forecast of analysts surveyed by Bloomberg. The pound still headed...

Europe Stocks Snap 2-Day Gain as Roche, H&M Earnings Disappoint

Worse-than-estimated earnings from companies including Roche Holding AG and Hennes & Mauritz AB dragged European stocks lower. Roche slid 3.8 percent, leading drugmakers lower. H&M dropped 4.8 percent after also warning a stronger dollar will continue to weigh on first-quarter profit. Stocks have moved more in step with with crude prices lately, and Europe’s benchmark deepened losses after energy shares pared some gains. The ...

U.S. Stocks Rebound as Oil Surges, Facebook Leads Rally in Tech

U.S. stocks rebounded from a selloff Wednesday as better-than-estimated results from Facebook Inc. boosted technology shares and crude oil rallied for a third day to lift energy producers. The Standard & Poor’s 500 Index gained 0.9 percent to 1,899.64 at 9:32 a.m. in New York, after sliding 1.1 percent yesterday, as the gauge alternated between daily gains and losses for a fifth session. Oil rose to a three-week high in...

Europe Stocks Halt 2-Day Gain; Deutsche Bank Falls After Results

European stocks were little changed, after rising four times in the past five sessions, as investors weighed earnings reports and gains in energy producers. Deutsche Bank AG slid 2.3 percent after posting its first annual loss since 2008. Hennes & Mauritz AB dropped 3.5 percent after its fourth-quarter earnings missed analysts’ estimates. Seadrill Ltd. and Subsea 7 SA climbed at least 4.7 percent, leading an advance in oil-and-gas...

Gold Slips as Fed Policy Statement Looms

Gold futures inched lower Wednesday ahead of an eagerly awaited policy statement from the Federal Reserve due after prices for the metal settle for the session. February gold was $2.80, or 0.2%, lower at $1,117.80 an ounce, after the precious metal closed Tuesday at its highest level since Nov. 2. April gold which is also among the most active contracts, traded at $1,117.80, down $2.80, or 0.3%. Although the Fed isn’t expected to raise...

Oil Ends at 2-Week High as Talk of Oil-Producer Cuts Grow

Oil futures settled at a more than two-week high on Wednesday, buoyed by growing expectations that major oil producers may come to an agreement on output cuts, as U.S. government data showed a dip in domestic crude production. March West Texas Intermediate crude rose 85 cents, or 2.7%, to $32.33 a barrel on the New York Mercantile Exchange. That was the highest settlement for a most-active contract since Jan. 8. Prices were trading around...

U.S. Stocks Fall After Fed Stands Pat as Apple, Boeing Lead Drop

U.S. stocks sank following no discernible shift in stance from the Federal Reserve amid recent market turmoil, as Apple Inc. and Boeing Co. led a slide after their outlooks disappointed investors. The Standard & Poor’s 500 Index fell 1.1 percent to 1,883.06 at 4 p.m. in New York, after swinging between gains of as much as 0.7 percent and a 1.6 percent loss. Fed policy makers left interest rates unchanged and said they still expect...

U.S. Stocks Climb as Oil Rally Overcomes Apple; Treasuries Slip

Crude continued to set the tone on global financial markets, with U.S. stocks rallying virtually in lockstep with oil after data showed a drawdown at a key American supply hub. Treasuries fell and the dollar fluctuated before the Federal Reserve’s policy decision. The Standard & Poor’s 500 Index advanced after falling as much as 0.9 percent, with energy shares leading gains as crude surged above $32 a barrel. Equities slid...

Europe Shares Rise in Late Trade as Oil Boosts Energy Companies

European stocks erased declines to advance in the final minutes of trading as oil rebounded and investors assessed value after some disappointing earnings reports. A measure of energy companies recovered in afternoon trade as oil rose after data showed stockpiles at the biggest U.S. storage hub dropped. Royal Dutch Shell Plc added 2.9 percent after winning shareholder approval to buy BG Group Plc, which gained 3.5 percent. BASF SE lost...

Oil Rises Amid Talk That OPEC, Russia to Reconsider Production

Oil climbed after Iraq’s oil minister said at a conference in Kuwait that Saudi Arabia and Russia are now more flexible about cooperating to cut output. Futures rose 3.7 percent in New York. Saudi Arabia and Russia, the world’s biggest oil producers, have become more flexible about collaborating to trim output as crude prices have fallen to unforeseen levels, Iraqi Oil Minister Adel Abdul Mahdi said Tuesday. Russia could work with OPEC...

Gold Futures Log Best Closing Price in Nearly 3 Months

Gold futures on Tuesday posted their best settlement since early November as jitters surrounding the oil market and China helped make the metal more attractive to investors. February gold rose $14.90, or 1.4%, to settle at $1,120.20 an ounce–its highest settlement price since Nov. 2, according to FactSet data. The climb came amid a volatile day on the financial markets, with oil sliding below $30 a barrel before staging a rally....

U.S. Stocks Rise Amid Earnings as Energy Shares Rebound With Oil

U.S. stocks rallied, with the Dow Jones Industrial Average posting its strongest gain in more than seven weeks, amid better-than-forecast earnings from companies ranging from 3M Co. to Coach Inc. while energy shares rebounded with oil after a selloff Monday. The Standard & Poor’s 500 Index added 1.4 percent to 1,903.62 at 4 p.m. in New York, recovering from a 1.6 percent drop yesterday. Tuesday’s rally provided a reprieve for the...

Miners Lead Europe Stock Gains While Siemens Surges on Earnings

A rebound in commodity and energy producers led the advance in European equities, while earnings at Siemens AG and Royal Philips NV further boosted sentiment. The Stoxx Europe 600 Index climbed 0.9 percent at the close of trading in London. It erased a decline of as much as 2 percent as crude rose above $30 a barrel after Iraq’s oil minister said Saudi Arabia and Russia are now more flexible about cooperating to cut output. Siemens ...

U.S. Stocks Rally Amid Earnings as Crude Shrugs Off China Slump

U.S. stocks advanced with commodities from crude to copper as investors looked past another rout in Chinese stocks to focus on corporate earnings and the start of the Federal Reserve’s first policy meeting since turmoil gripped financial markets. The Standard & Poor’s 500 Index extended gains after data showed an increase in consumer confidence. The Dow Jones Industrial Average jumped more than 200 points as 3M Co. and Procter &...

Aust dollar slumps below US70c

The Australian dollar is weaker against the US dollar, as the resumed fall in oil and base metal prices weighs. At 7.25am (AEDT), the local unit was trading at US69.65c, down from US70.17c on Friday. Oil prices fell more than 5 per cent on concerns of oversupply after news that Iraq’s output reached a record in December. Source: businessspectato...

Oil Drops as Saudis to Maintain Spending, China Diesel Use Falls

Oil dropped after Saudi Arabia, the world’s biggest crude exporter, said low prices won’t reduce its spending on energy projects and China’s diesel demand fell for a fourth consecutive month. Futures tumbled 5.8 percent in New York. Saudi Arabian Oil Co., also known as Saudi Aramco, is maintaining its investment plans despite the rout in the crude market, Chairman Khalid Al-Falih said Monday. Diesel use in China dropped 5.6 percent...

U.S. Stocks Fall With Energy Shares Leading as Oil Resumes Slide

U.S. stocks fell, with declines accelerating in the final hour after crude oil extended its selloff, as equities lost momentum following their first weekly advance this year. The Standard & Poor’s 500 Index declined 1.6 percent to 1,877.34 at 4 p.m. in New York, erasing three-quarters of a rally Friday that saw the gauge cap the best back-to-back gains in three months. Energy shares in the benchmark fell the most since August. Equities...

U.S. Stocks Decline as Crude Slump Worsens; Bonds, Gold Advance

U.S. stocks halted a two-day rally as renewed declines in the price of crude set the tone on global financial markets, dragging down currencies of resource exporters and stoking demand for havens from gold to Treasuries. The Standard & Poor’s 500 Index followed European shares lower after American crude’s slide approached 5 percent, undoing part of a 21 percent surge in oil to end last week. Emerging-market shares headed for the...

European Stocks Halt Rebound as Banks, Commodity Producers Slide

Declines in commodity shares and lenders put an end to a rally in European stocks. The Stoxx Europe 600 Index fell 0.6 percent at the close of trading in London. Seadrill Ltd. led the slide, tumbling 8.9 percent as oil fell after the world’s biggest crude exporter said it’s keeping up investments in energy projects. A gauge of miners also dropped, while lenders slid the most among industry groups. The rout in commodity prices is once...

Yen Gains as Bullish Bets Reach Four-Year High Before BOJ Meets

The yen rose the most among its developed-market peers after Bank of Japan Governor Haruhiko Kuroda showed little appetite for an immediate expansion of stimulus before the central bank sets policy on Friday. Japan’s currency halted a two-day slide after Kuroda said in an interview on Jan. 22 in Davos, Switzerland that “at this stage, we don’t think the current market situation has been affecting corporate behavior unduly.” The yen...

WTI Oil Books Best One-Day Gain Since August

Oil futures rocketed higher on Friday, stretching their rally to a second straight session and marking the best one-day jump since August, according to FactSet data. March West Texas Intermediate crude finished at $32.19 a barrel on the New York Mercantile Exchange. It rose $2.66, or 9%, for the session. For the week, it gained 9.4% based on Friday's closing level for the February contract, which expired Wednesday. Source: MarketW...

Asia Stocks Extend Global Rebound as Japan, Material Shares Rise

Asian stocks extended the rally that sent global equities to their biggest gain in 3 1/2 years as Japanese shares and materials companies climbed. The MSCI Asia Pacific Index added 0.5 percent to 119.07 as of 9:02 a.m. in Tokyo, with materials and health-care shares leading the advance. Japan’s Topix index climbed 1.1 percent as markets across the region extended gains that began after European Central Bank President Mario Draghi signaled...

Japanese Stocks Advance for Second Day Amid Stimulus Speculation

Japanese stocks jumped, heading for their biggest two-day gain since November 2014, as speculation central banks will step in to bolster markets continued fueling a recovery in shares. The Topix index added 1.1 percent to 1,388.99 as of 9:02 a.m. in Tokyo, extending Friday’s 5.6 percent advance and headed for the first back-to-back gain of the year. The Nikkei 225 Stock Average climbed 0.8 percent to 17,087.47. The yen traded...

U.S. Stocks Rally Amid Stimulus Optimism Led by Energy Shares

The Standard & Poor’s 500 Index capped its strongest two-day rally in three months, amid speculation central banks around the world will act to support the global economy even as the Federal Reserve tightens policy. The S&P 500 gained 2 percent to 1,906.88 at 4 p.m. in New York, the best back-to-back increase since October after turning positive for the week. Equities continued a snap-back from the worst start to a year since...

Euro Fluctuates as Traders Weigh Draghi's Expanded Easing Hint

The shared currency erased losses versus the dollar just hours after European Central Bank President Mario Draghi said the central bank may reconsider its policy stance in March amid a deteriorating economic outlook and turmoil in global markets. The euro remained lower versus the currencies of commodity exporters, including Canada, South Africa and Australia, as risk assets rallied. Policy makers are struggling to lift inflation,...

Oil Surges Above $30 on ‘Oversold’ Conditions, Libya Attacks

Oil futures jumped on Thursday, rebounding on the back of what analysts referred to as “oversold” conditions, as reports of attacks on Libyan oil terminals reminded the market of the risks to supplies in the Middle East. Advances for oil came despite a hefty increase in weekly U.S. crude inventories. The natural-gas market, meanwhile, mulled their own supply data, which revealed a smaller-than-expected weekly decline. March West Texas...

Asian Futures Point to Rebound Amid Oil Jump, Stimulus Prospects

Asia is set to get another shot at a market rebound, with equity-index futures signaling gains from Japan to Hong Kong amid signs Europe and Asia will act to thwart further volatility by increasing stimulus and after crude oil rallied. Nikkei 225 Stock Average futures jumped in Osaka as gains in U.S. and European stocks burnished sentiment, diminishing the appeal of haven assets like the yen. New Zealand and Australia benchmarks opened...

U.S. Stocks Rebound as Oil Surges; Treasuries Slip With Gold

U.S. stocks overcame an afternoon slump to rebound from the lowest level in 21 months, as crude surged toward $30 amid signals from China and Europe that officials will add to stimulus if needed. Treasuries fell with gold as haven demand waned. The Dow Jones Industrial Average rose 115 points in a seesaw session that had the gauge erase almost all of a 270-point rally before ending higher. Investors piled into risk assets, boosting...

U.S. Stocks Rally, Led by Energy Shares Amid Stimulus Prospects

U.S. stocks rose, with the Standard & Poor’s 500 Index recovering from a 21-month low, as investors weighed the potential for additional stimulus measures amid uncertain prospects for global growth. Chevron Corp. climbed 2.6 percent and Home Depot Inc. surged 4.2 percent as energy and consumer discretionary companies paced the rebound from yesterday’s selloff. Banks also bounced, with Wells Fargo & Co. up 2 percent. Verizon...

Gold Climbs as Deepening Equity Losses Spur Safe-Haven Demand

Gold climbed to the highest in more than a week and investors boosted holdings in bullion-backed funds as global market turmoil spurred demand for a haven. The metal rose as much as 1.9 percent in New York as commodities dropped and a gauge of world equities teetered on the brink of a bear market. Citigroup Inc. raised its forecast for gold prices this year, while cutting the outlook for crude oil and base metals. The cost of living...

Oil Tumbling Most in Four Months Deepens Gloom for Producers

Crude sank the most in more than four months, dragging down shares of oil and gas producers to the lowest in almost seven years. Futures fell as much as 8 percent to the lowest since May 2003. Royal Dutch Shell Plc, the first global major oil company to report fourth-quarter earnings, said Wednesday it expects profit to drop at least 42 percent. Markets could “drown in oversupply,” sending prices even lower as oil demand growth slows...

U.S. Stocks Sink With Markets Around the World as Rout Deepens

U.S. stocks fell, with the Standard & Poor’s 500 Index reaching at 21-month low, following a renewed selloff across stocks worldwide as skepticism about the strength of the global economy intensified. Equities staged a late-day rally paced by health-care and small-cap shares that briefly erased a drop of 3.7 percent in the Nasdaq Composite Index. The Dow Jones Industrial Average and S&P 500 cut their worst losses by more than...

U.S. Stocks Sink With Markets Around the World

U.S. stocks tumbled, with the Dow Jones Industrial Average dropping more than 500 points, following a renewed selloff across stocks worldwide as skepticism about the strength of the global economy intensified. Commodity shares remained at the forefront of the selloff, with energy companies sinking further into five-year lows and on pace for their worst monthly slump since 2008. Chevron Corp. slid 7.2 percent. International Business ...

Europe Stocks Fall to 15-Month Low as Oil, Results Stoke Concern

European stocks slid to a 15-month low as falling oil prices and results from companies including Zurich Insurance Group AG and Royal Dutch Shell Plc exacerbated investor concern about global growth. Zurich Insurance slid 11 percent after predicting a second straight quarterly loss for its biggest unit. Shell lost 7.3 percent after saying quarterly profit plunged as the slide in oil prices deepened. Seadrill Ltd. plummeted 29 percent...

Oil Falls to 12-Year Low as IEA Says Supply Could `Drown' Market

Crude dropped to the lowest in more than 12-years in New York after the International Energy Agency said the global market could “drown in oversupply.” West Texas Intermediate futures fell 3.3 percent. The IEA cut 2016 estimates for global oil demand as China’s economic growth weakens, and raised forecasts for output outside the Organization of Petroleum Exporting Countries. The removal of restrictions on Iranian crude sales...