55 minutes ago
Oil creeps up after Saudi Aramco scraps plans to increase maximum production capacity
Refining giant Saudi Aramco saw oil prices rise slightly on Tuesday. I received an order The company received a request from Saudi Arabia’s Ministry of Energy to maintain maximum sustainable production capacity of 12 million barrels per day.
March 2020the energy giant announced it would increase its maximum sustainable production capacity from 12 million barrels to 13 million barrels, and in October 2021 it was reported that Aramco aims to achieve this goal by 2027.
Brent crude oil prices rose 0.57% to $77.23, while West Texas Intermediate crude oil prices rose 0.49% to trade at $82.80.
1 hour ago
Consumer cyclicals and real estate stocks lead losses in Hong Kong
2 hours ago
Vietnam’s economy is in “quite good shape” this year, says Vina Capital
Andy Ho, chief investment officer at Vina Capital, said Vietnam’s economy is in a “pretty good place” this year and expects growth to be between 6 and 7 percent this year.
Ho told CNBC’s “Squawk Box Asia” that besides low interest rates and strong exports to the United States and Europe, the country’s “liquidity situation is very strong.”
“Many people have money and are ready to invest domestically, whether in capital assets, real estate or the stock market,” he said. “Therefore, I think 2024 will be a relatively good year for Vietnam.”
However, Ho warned of challenges in Vietnam’s real estate sector despite optimism that the sector will recover this year.
“There is a demand for real estate products, whether it’s moderate-income housing or low-income housing. [and] We need to develop these assets,” Ho stressed. [the] If the government starts approving these projects sooner, the banking system will provide funding for these developers to move forward with their projects. ”
— Charmaine Jacob
7 hours ago
Japan’s unemployment rate in December fell to the lowest level since January 2023
University students arrive to participate in the Mynavi Career Mega Expo held at Tokyo Big Sight on March 8, 2015.
Chris McGrath Getty Images
Japan’s unemployment rate fell slightly in December, according to official data.
The unemployment rate in the final month of 2023 fell to 2.4% compared to the previous month. In October, it was 2.5%.
The unemployment rate in December was also slightly lower than the 2.5% forecast in a Reuters poll, the lowest level since January 2023.
According to another survey, the job openings-to-applicants ratio in December was 1.27, the highest level since June 2022.
This was also slightly below the Reuters poll’s forecast of 1.28.
— Shreyashi Sanyal
7 hours ago
CNBC Pro: Want to invest in China’s booming EV market? These ETFs are
As China’s electric vehicle market continues to grow stronger, investors around the world are increasingly interested in getting involved.
“We’re particularly bullish on the growing competitiveness of Chinese EV manufacturers,” Kingsley Jones of boutique advisory firm Jevons Global told CNBC’s ProTalk on Thursday. There are many.
However, major hurdles remain before individual investors can participate in China’s EV growth story. For example, many securities companies charge a premium for trading in Hong Kong-listed stocks, and Chinese regulations prevent overseas retail investors from directly purchasing mainland-listed “A shares.”
Instead, the veteran investor noted that ETFs with concentrated positions remain a strong choice for those seeking exposure to China’s EV growth potential.
CNBC Pro subscribers can read more here.
— Ganesh Rao
7 hours ago
CNBC Pro: Analysts are extremely bullish on this global semiconductor stock and continue to list it as a top stock.
10 hours ago
Dow expected to underperform in January due to Boeing impact
Selling in Boeing and several other stocks has limited the Dow Jones Industrial Average’s gains this month.
The blue-chip average is on track to end the January trading month up about 1.7%, ending at Wednesday’s close. By comparison, the broad-based S&P 500 and the technology-heavy Nasdaq Composite are on pace to gain 3.3% and 4.1%, respectively.
See chart…
January Dow
Part of the Dow’s gains are being limited by Boeing, which is down 21% this month. Stocks plummeted after a door plug on a 737 Max 9 jet exploded mid-flight.
Walgreens and Intel also dragged down the 30-stock index, each falling about 13%. Dozens of Dow members are on pace to end the month lower.
These dives somewhat mitigated the gains seen elsewhere. Notably, IBM led the index’s rise with an increase of more than 14%. The next biggest gainers were Verizon and Merck, each up about 11%.
— Alex Harring
14 hours ago
Oil falls as China’s real estate crisis overshadows geopolitical risks
Oil prices fell on Monday as concerns grew about the impact of China’s real estate crisis on the economy.
West Texas Intermediate’s March contract fell $1.01, or 1.29%, to $77 per barrel. Brent March contracts fell 94 cents, or 1.13%, to trade at $82.61.
Oil prices fell after a Hong Kong court ordered the liquidation of Evergrande, once China’s largest real estate developer. Traders are concerned that China’s real estate crisis is weighing on the economy and that an economic slowdown could slow oil demand this year.
Oil prices rose more than 1% in early trading after three US soldiers were killed in a drone attack on a base in Jordan. The United States blamed the attack on Iranian-allied militants.
“This is a significant turning point for the Biden administration, because the Biden administration is taking a serious escalatory response to this attack,” Helima Croft of RBC Capital Markets said Monday on CNBC’s “Worldwide Exchange.” We need to actually determine whether that is the case.”
— Spencer Kimball
16 hours ago
Energy stocks drag down S&P 500 index
Energy-related stocks had a negative impact on the S&P 500 in Monday trading.
The composite index rose about 0.1% in morning trading. However, the sector fell 0.7%, weighed down by declines in energy stocks.
All stocks in the energy sector fell this session. APA was the biggest loser, down 1.7%.
Meanwhile, the consumer sector was the best performer, rising 0.3%. Tesla led the sector’s gains with a gain of more than 2%, rebounding somewhat last week after falling more than 13% on gains.
— Alex Harring
11 hours ago
Ministry of Finance lowers first quarter borrowing forecast
According to one report, the U.S. Treasury expects to borrow $760 billion in the first quarter. press release Published Monday afternoon. This amount is lower than previously expected $815 billion and is “primarily due to higher net financial flows and an expected increase in cash balances at the beginning of the quarter,” the release said.
The lower expectations appear to have triggered a rally in bonds and stocks. The yield on the 10-year U.S. Treasury note has fallen to its lowest level of the day, about 4.07%, while the S&P 500 Index is currently up about 0.7%.
The Treasury is expected to release details of the quarterly repayment plan on Wednesday.
— Jesse Pound