While you were sleeping: Oil surges on OPEC deal
By Margreet Dietz Dec. 1 (BusinessDesk) - Oil rallied, as did energy stocks, after OPEC agreed on details to cut output for the first time in eight years as it aims to stem a global glut. West Texas Intermediate crude futures jumped 8.8 percent to US$49.19 a barrel in early...
While you were sleeping: Oil slides on stalemate
By Margreet Dietz Nov. 30 (BusinessDesk) - Energy stocks fell with oil prices amid a stalemate about an agreement to cut production by the world’s biggest producers. Meanwhile, Wall Street advanced, pushing the Nasdaq to a record high, amid optimism about the US economy. A...
While you were sleeping: Wall St slips from record
By Margreet Dietz Nov. 29 (BusinessDesk) - Wall Street fell from record highs, while Treasuries rose, as investors locked in some profits from the post-US-election rally. In 1.11pm trading in New York, the Dow Jones Industrial Average fell 0.2 percent, while the Nasdaq Comp...
While you were sleeping: ECB warns of reversal
By Margreet Dietz Nov. 25 (BusinessDesk) - The European Central Bank warned that “the potential for an abrupt reversal remains significant” on financial markets in its twice-yearly Financial Stability Review. The warning came on a quiet day with US markets closed for the Th...
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