Spotlight: Crude oil fell for the first time in more than two weeks after Goldman Sachs said Japan is at risk of recession. Cotton dropped the most since August on slowing U.S. exports. Cocoa closed at the highest price since February 2003. Gold rose to a new record high, silver advances to the highest in 27 years. Copper fell.
Energy: Crude oil fell below $94 fort the first time in more than two weeks after Goldman Sachs Group said Japan is at risk of recession, cutting energy consumption. JPMorgan raised its 2008 oil prices forecast by 12 percent to $76.50 a barrel on expectations investments in commodities will increase.
Agriculture: Wheat fell on speculation that a government report will show U.S. farmers planted more than forecast to benefit from a three-year rally that drove pries to a record. Besides, corn fell the most this month as U.S. farmers increased sales of last year’s record harvest to profit from the highest prices for Chicago futures in 11 years. Notably. Soybeans also fell on signs that a price rally to a 34-year high is reducing overseas demand for U.S. supplies.
Precious Metals: Gold rose to a record high of $893.60 an ounce in New York, and silver reached the highest in 27 years to $16.275 an ounce as the slumping dollar boosted the appeal of precious metals as alternative investments. Besides, demand for Platinum surged after Federal Reserve Chairman Ben S. Bernanke suggested more interest-rate cuts may be made. However, Palladium falls.
Industrial Metals: Copper fell for a second straight day on speculation that declining consumption will lead to a surplus of the metal used.
(Source: Bloomberg)
Showing posts with label Market Highlights. Show all posts
Showing posts with label Market Highlights. Show all posts
Friday, January 11, 2008
Market Highlights 11th Jan 2008
US: U.S. stocks posted their first back-to-back gains of the year after Federal Reserve Chairman Ben S. Bernanke signaled he may cut interest rates further and investors speculated Countrywide Financial Corp. will be bought.
Europe: European stocks declined for the sixth time in seven days, led by chemical makers, metal producers and engineering companies, on speculation inflation may keep central banks from cutting interest rates.
Asia: Asian stocks fell for the first time in three days, led by developers and banks, on concern U.S. credit-market losses will spread.
Commodities: Crude oil fell below $94 for the first time in more than two weeks after Goldman Sachs Group Inc. said Japan is at risk of recession, cutting energy consumption. Gold rose to a record, and silver reached the highest in 27 years as the slumping dollar boosted the appeal of precious metals as alternative investments.
Currencies: The dollar fell the most against the euro in almost two months after Federal Reserve Chairman Ben S. Bernanke signaled the central bank may cut borrowing costs this month to offset ``downside risks'' to U.S. economic expansion.
Source: Bloomberg
Europe: European stocks declined for the sixth time in seven days, led by chemical makers, metal producers and engineering companies, on speculation inflation may keep central banks from cutting interest rates.
Asia: Asian stocks fell for the first time in three days, led by developers and banks, on concern U.S. credit-market losses will spread.
Commodities: Crude oil fell below $94 for the first time in more than two weeks after Goldman Sachs Group Inc. said Japan is at risk of recession, cutting energy consumption. Gold rose to a record, and silver reached the highest in 27 years as the slumping dollar boosted the appeal of precious metals as alternative investments.
Currencies: The dollar fell the most against the euro in almost two months after Federal Reserve Chairman Ben S. Bernanke signaled the central bank may cut borrowing costs this month to offset ``downside risks'' to U.S. economic expansion.
Source: Bloomberg
Thursday, January 10, 2008
Market Highlights 10th Jan 2008
Spotlight: Wheat fell on speculation of increased plantings. Copper fell on concern of an economic slump. Oil fell after the weekly energy report showed that distillate and gasoline stockpiles increased last week. Gold rose on speculation of a weakening dollar.
Energy: Crude oil fell after an Energy Department report showed that U.S. fuel stockpiles surged last week as refineries bolstered operating rates. Gasoline inventories rose 5.22 million barrels to 213.1 million barrels, the Energy Department said yesterday, the biggest gain since December 2006 and three-times the increase forecast by analysts in a Bloomberg News survey. Crude oil supplies in the world's largest energy consumer fell 6.74 million barrels to 282.8 million on Jan. 4, having shed 31.8 million barrels in the past eight weeks, the report showed. Supplies fell as refiners increased operating rates to 91.3 percent of their plant capacity, the highest since August. Distillate fuel stockpiles, including heating oil and diesel, rose 1.52 million barrels to 128.7 million.
Agriculture: Wheat fell, erasing earlier gains, as hedge-fund and index-fund managers bet corn and soybeans will outperform the grain this year after farmers sowed more wheat to capitalize on higher prices. About 48.5 million acres of winter wheat were planted from September through November, as prices rose toward a record in December, according to a Bloomberg survey of analysts and traders. That's almost an 8 percent increase from the previous year and the most in 12 years.
Coffee output in Brazil, the world's biggest producer and exporter of the commodity, will fall short of demand this year, driving up prices, a research agency said. Domestic and overseas demand for Brazilian coffee will likely reach 46 million bags in 2008, exceeding estimated output of 41.2 million to 44.1 million bags, the University of Sao Paulo's agricultural commodities research agency, known as Cepea,
Precious Metals: Gold rose on speculation the Federal Reserve will continue to cut interest rates, weakening the dollar and boosting the investment appeal of the precious metal. Interest-rate futures show a 78 percent chance the Fed will lower the overnight lending rate 0.5 percentage point to 3.75 percent by Jan. 30, compared with a 24 percent chance a week ago.
Industrial Metals: Copper declined from a two-month high on renewed concern the U.S. economy will slump, slowing global growth and curbing metals demand. The U.S. is probably slipping into a recession, Goldman Sachs Group Inc. said. Global economic growth will slow for a second straight year in 2008, the World Bank said.
(Source: Bloomberg)
(Source: Bloomberg)
Energy: Crude oil fell after an Energy Department report showed that U.S. fuel stockpiles surged last week as refineries bolstered operating rates. Gasoline inventories rose 5.22 million barrels to 213.1 million barrels, the Energy Department said yesterday, the biggest gain since December 2006 and three-times the increase forecast by analysts in a Bloomberg News survey. Crude oil supplies in the world's largest energy consumer fell 6.74 million barrels to 282.8 million on Jan. 4, having shed 31.8 million barrels in the past eight weeks, the report showed. Supplies fell as refiners increased operating rates to 91.3 percent of their plant capacity, the highest since August. Distillate fuel stockpiles, including heating oil and diesel, rose 1.52 million barrels to 128.7 million.
Agriculture: Wheat fell, erasing earlier gains, as hedge-fund and index-fund managers bet corn and soybeans will outperform the grain this year after farmers sowed more wheat to capitalize on higher prices. About 48.5 million acres of winter wheat were planted from September through November, as prices rose toward a record in December, according to a Bloomberg survey of analysts and traders. That's almost an 8 percent increase from the previous year and the most in 12 years.
Coffee output in Brazil, the world's biggest producer and exporter of the commodity, will fall short of demand this year, driving up prices, a research agency said. Domestic and overseas demand for Brazilian coffee will likely reach 46 million bags in 2008, exceeding estimated output of 41.2 million to 44.1 million bags, the University of Sao Paulo's agricultural commodities research agency, known as Cepea,
Precious Metals: Gold rose on speculation the Federal Reserve will continue to cut interest rates, weakening the dollar and boosting the investment appeal of the precious metal. Interest-rate futures show a 78 percent chance the Fed will lower the overnight lending rate 0.5 percentage point to 3.75 percent by Jan. 30, compared with a 24 percent chance a week ago.
Industrial Metals: Copper declined from a two-month high on renewed concern the U.S. economy will slump, slowing global growth and curbing metals demand. The U.S. is probably slipping into a recession, Goldman Sachs Group Inc. said. Global economic growth will slow for a second straight year in 2008, the World Bank said.
(Source: Bloomberg)
(Source: Bloomberg)
Monday, January 7, 2008
Market Highlights
US: U.S. stocks had the steepest weekly loss since July after unemployment increased to a two-year high and manufacturing declined, bolstering speculation that a recession will stymie profit growth.
Europe: European stocks had their worst week in five months after reports showed U.S. hiring and manufacturing slowed the most since 2003, deepening concern the region's largest trading partner may slide into recession.
Asia: Asian stocks fell this week, led by exporters such as Toyota Motor Corp. and Samsung Electronics Co., after reports showed that some Asian countries' growth and the U.S. economy are slowing.
Commodities: Crude oil fell more than $1 a barrel in New York after a government report showed U.S. unemployment jumped to a two-year high, raising concern of a recession that would curb energy demand. Gold futures fell in New York on speculation a rally to the highest price since 1980 was overdone.
Currencies: The dollar posted its biggest decline against the yen in almost two months as a slowdown in hiring raised concern that U.S. economic weakness will spread globally.
Source: Bloomberg
Europe: European stocks had their worst week in five months after reports showed U.S. hiring and manufacturing slowed the most since 2003, deepening concern the region's largest trading partner may slide into recession.
Asia: Asian stocks fell this week, led by exporters such as Toyota Motor Corp. and Samsung Electronics Co., after reports showed that some Asian countries' growth and the U.S. economy are slowing.
Commodities: Crude oil fell more than $1 a barrel in New York after a government report showed U.S. unemployment jumped to a two-year high, raising concern of a recession that would curb energy demand. Gold futures fell in New York on speculation a rally to the highest price since 1980 was overdone.
Currencies: The dollar posted its biggest decline against the yen in almost two months as a slowdown in hiring raised concern that U.S. economic weakness will spread globally.
Source: Bloomberg
Subscribe to:
Posts (Atom)
