Global News

[ad_1] U.S. shares struck new highs for the year on Friday, setting world stocks up for gains for the week, as rising bets that the Federal Reserve will skip a rate hike next week overshadowed worries about U.S. markets being drained of cash. Helped by a surge in Tesla Inc, which jumped as much as 5.7%, the S&P 500 rose to levels last seen in August before receding by mid-day to be little changed. The Nasdaq Composite and the Dow Jones Industrial Average also pared earlier gains to stand flat. Over in Europe, the STOXX 600 index lost 0.13%, but MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.74% overnight. Combined with gains on Wall Street, the MSCI’s broadest index of world stocks added 0.14% to hover under a 13-month high. For the week, the index for world stocks might notch a 0.4% rise. “As of today, the S&P 500 is back in a bull market," said Arthur Hogan, chief market strategist at Briley Wealth, noting that the index finished Thursday with a...

[ad_1] Tehran: Iranian Oil Minister Javad Owji has said the country`s crude exports have reached the highest level since the reimposition of US sanctions in 2018, state media reported. Owji on Sunday added that Iran`s crude exports have increased by 83 million barrel from the beginning of the current Iranian calendar year, which started on March 21, 2022, to February 19, 2023, compared to the same period in 2021-2022, reported the official news agency IRNA. It also showed a 190-million-barrel increase from the same time span in 2020-2021, he said, without revealing the exact number of Iran`s total crude exports, Xinhua news agency reported. The Iranian oil Minister claimed that the country`s gas exports have witnessed a year-on-year rise of 15 per cent in the current Iranian calendar year, noting that Iran has raked in $6.5 billion from its liquefied petroleum gas exports since March 2022. In May 2018, the US intensified its sanctions on Iran, mai...

[ad_1] MSCI’s global equities index lost ground on Wednesday after weaker-than-expected overseas data and as investors monitored a heating up of American-Chinese trade tensions while they awaited upcoming U.S. economic data and second-quarter earnings. Investors shrugged off U.S. Federal Reserve meeting minutes released on Wednesday that showed a Fed united in its June meeting decision to hold interest rates steady to buy time to assess whether further hikes would be needed. Minutes also showed most members expecting more policy tightening eventually. “If we continue to see a cooling of inflation, there may not be any further rate hikes, but nothing to that end was disclosed in the Fed minutes," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. “We’ll have a much better sense after we get another major data point on Friday with the jobs report and the inflation data next week." Putting a damper on equities overseas was the rele...