Crude Oil closed at its highest yet this year as OPEC and its partners committed to continuing production cuts until at least June, when they will meet to discuss an extension.
markets
China Trade Deal ‘Fails’ if Washington Doesn’t Win Enforcement Measures
That comes as Chinese negotiators ready for the next round of trade talks, set to begin Tuesday in Washington.
Wall Street’s view on Trump’s talk of firing Fed Chair Jerome Powell: ‘Utter madness’
President D. Trump’s growing dissatisfaction with Federal Reserve Chairman Jerome Powell could be veering into dangerous territory. With the Fed embarked on a campaign to tighten monetary policy, the president has repeatedly attacked Powell, reportedly fearful that a volatile market – and the attendant possibility of an economic downturn – could endanger his reelection prospects.
Buy Gold for 1 Rupee: Sellers Try New Ways to Boost Demand
Gold Silver Reports (GSR) – “A lot of people have been buying at one rupee,” according to Gaurav Mathur, managing director of digital platform SafeGold, which has partnered with payments apps such as Flipkart Online Services Pvt.’s PhonePe to sell gold starting at that price. “It’s a low-risk way to try the product.”
Fed is Expected to Raise Interest Rates Wednesday
The Fed is expected to raise interest rates Wednesday by a quarter point, and the pressure is on for Fed Chairman Jerome Powell to sound dovish — but not too dovish. Fed officials are also expected to revisit their fed funds rate forecasts and roll back some of the rate hikes expected in the next several years.
Crude Oil Prices Surge more than 4% as OPEC nears Deal to Cut Output
Brent crude, the international benchmark for oil prices, rose $2.78, or 2.6 percent, to $62.84 a barrel by 8:47 a.m. ET (1347 GMT). U.S. West Texas Intermediate crude futures were up $2.17, or 4.2 percent, at $53.66 per barrel.
India’s Sensex Declines Ahead of Central Bank’s Rate Review
The S&P BSE Sensex declined 0.6 percent, the most in two weeks, to 35,907.31 as of 9:53 a.m. in Mumbai, while the NSE Nifty 50 Index slipped 0.7 percent. Markets across Asia tumbled following the biggest slide on Wall Street since mid-October.