Asian Markets Track Global Markets Lower

Asian stock markets are trading mostly lower on Thursday, following the broadly negative cues from global markets overnight, as lingering concerns about US lawmakers’ ability to reach an agreement on increasing the U.S. debt ceiling continued. Traders remain worried about reports suggesting a lack of progress towards a deal. Asian Markets closed mostly lower on Wednesday. Traders were also digesting […]

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Oil Futures Settle Sharply Lower On Demand Worries

Crude oil prices fell sharply on Wednesday as worries about fuel demand resurfaced after data showed a contraction in manufacturing activity in China. A stronger dollar weighed as well on oil prices. The dollar index climbed to 104.70 earlier this afternoon, gaining about 0.5%. However, the index pared most of its gains subsequently and was at 104.30 a little while […]

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Abercrombie & Fitch, Kohl's Q1 Results Top Estimates, While Children's Place Missed

U.S. retailers Abercrombie & Fitch Co. (ANF) and Kohl’s Corp. (KSS) reported on Wednesday results for the first quarter that topped analysts’ estimates, with Abercrombie & Fitch raising its outlook for the full-year 2023 and Kohl’s affirming its guidance for fiscal 2023. Meanwhile, The Children’s Place, Inc. (PLCE) reported results that missed estimates and slashed its guidance for the full-year […]

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Eurozone Economic Confidence Hits 6-Month Low

Adding to concerns over growth prospects, euro area economic sentiment deteriorated to the lowest in six months in May reflecting lower confidence in industry, services and retail trade. The economic sentiment index fell to 96.5 from 99.0 in April, survey results from the European Commission showed Tuesday. This was the lowest reading since November and also below economists’ forecast of […]

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