Oil mixed as demand worries offset gains

Vinson

Oil prices were mixed as the historic production-cut deal inked by major global oil producers was not enough to assuage existing worries about the demand destruction brought on by the coronavirus pandemic. Brent futures rose 26 US cents, or 0.8 per cent, to settle at $US31.74 a barrel, while US […]

Wall St gains on signs of virus slowdown

Vinson

Wall Street has risen as early signs of a slowdown in coronavirus cases in US hot spots raised hopes that sweeping lockdown measures to contain the outbreak were working. The S&P 500 was set for its biggest two-day gain in nearly two weeks on Tuesday, building on a 7.0 per […]

Crude prices post biggest one-day gains

Vinson

Crude prices posted their biggest-one day gains on record after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil. Trump said he […]

Wall Street gains on oil price recovery

Vinson

Wall Street has bounced as a recovery in oil prices outweighed the shock of weekly jobless claims soaring past six million. Initial claims for unemployment benefits last week exceeded the top end of analysts’ estimates at 5.25 million, and US President Donald Trump has warned of more economic pain as […]

Asian share markets make cautious gains

Vinson

Asian share markets have managed a tentative rally after European and US equities stabilised, though buying for month and quarter-end book balancing likely flattered the gains. There were also hopes a survey of Chinese manufacturing due later would show a sizable improvement for March as factories began to reopen. Forecasts […]

Wall St gains as investors mull stimulus

Vinson

Wall Street has risen as US President Donald Trump followed last week’s massive fiscal stimulus package by extending his stay-at-home guidelines, leaving investors hopeful that the economic impact of the coronavirus could still be contained. A record $US2.2 trillion ($A3.6 trillion) in aid and unprecedented policy easing from the Federal […]

Gold eases, despite big weekly gains

Vinson

Gold fell on Friday on caution ahead of the weekend, but prices were set to post their biggest weekly gain since 2008 as economic damage expected from the coronavirus boosted bullion’s safe-haven appeal. Platinum and palladium were on track for their biggest weekly gains on record on supply concerns arising […]