Show Financial News

Investing.com-- Oil prices fell slightly in Asian trade on Friday, extending losses from the prior session as the OPEC+ cut supply by a smaller-than-expected margin, while weak data from China added to concerns over worsening demand. 

By Laura Sanicola

Investing.com-- Most Asian stocks retreated on Friday, seeing a measure of profit taking after clocking strong gains through November, with focus now turning to an upcoming address from Fed Chair Jerome Powell for more cues on interest rates. 

" Overall we expect a positive trend to continue in the market. Auto stocks will be in focus as OEMs will announce their monthly sales data on Friday," said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a muted start GIFT Nifty on the NSE IX traded lower by 12.5 points, or 0.06 per cent, at 20,326, signaling that Dalal Street was headed for muted start on Friday.

exit polls for five state elections have come out as a mixed bag for political parties. The BJP has an edge in Madhya Pradesh as per the surveys of voters leaving polling stations, while the Congress has an advantage in Chhattisgarh and Telangana. The exit polls predict a cliffhanger contest in Rajasthan between the BJP and the Congress.

Economists had, in an ET poll, estimated a median 6.7% rise in gross domestic product (GDP) in the quarter. The second-quarter GDP growth is just shy of 7.8% clocked in the June quarter and significantly higher than the 6.2% recorded in the September quarter last year. Growth in the first half of FY24 was 7.7% compared with 9.5% a year earlier. «Manufacturing sustained expansion, endorsed by IIP (Index of Industrial Production) and core infra sector growth,» said chief economic advisor V Anantha Nageswaran. The higher-than-expected growth triggered a raft of upgrades in full FY24 growth estimates. «The latest numbers indicate that the economic recovery is on track despite the adverse geopolitical situation,» said Sunil Kumar Sinha, principal economist, India Ratings.

Nasdaq into negative territory. Still, the S&P 500 and the Nasdaq notched their largest monthly percentage gain since July 2022. November was the Dow's best month for percentage gains since October 2022. «We're putting the cherry on top of a banner month,» said Ryan Detrick, chief market strategist at Carson Group in Omaha.

Elon Musk had touted in 2019 and a cost analysts have said will draw select, affluent buyers. The truck, made of shiny stainless steel and shaped into flat planes, is partly inspired by a car-turned-submarine in the 1977 James Bond movie "The Spy Who Loved Me," Musk has said. Its new body material and unconventional, futuristic styling has added complexity and costs to production, and threatens to alienate traditional pickup truck buyers who focus on utility, experts say.

Bank of India (RBI). Economists now say that with the Q2 GDP growth rate coming in well beyond expectations, the RBI may opt for a hawkish stance in its coming monetary policy committee (MPC) announcement on December 8. The economic growth would give space to the central bank, which held its rates for the fourth consecutive time in October, to focus on food inflation, which it believes is ‘uncomfortably high’.

By Takaya Yamaguchi and Leika Kihara

(Please note strong language in paragraphs 2, 7)

Stocks ended mostly higher on Wall Street and closed out November with big gains

An official survey of Chinese manufacturers shows that factory activity contracted for a second straight month in November

Slightly more Americans filed for jobless claims last week, but the overall number of people in the U.S. collecting unemployment benefits rose to its highest level in two years

The Federal Reserve’s preferred inflation measure cooled last month, the latest sign that price pressures are waning in the face of high interest rates and moderating economic growth

A new study says that about half of Nicaragua's population of 6.2 million want to leave their homeland because of a mix of economic decline and repression from President Daniel Ortega's government

With manufacturing kinks still to be worked out, Tesla has delivered the first dozen or so of its futuristic Cybertruck pickups to customers

Three members of Congress are asking the U.S. Justice Department to investigate how hackers breached a water utility system near Pittsburgh

With 20 million weekly radio listeners, Dave Ramsey is perhaps the most influential media personality on money, which means some of his guidance can be particularly dangerous, financial advisors say.

BEIJING — China's consumer isn't going to be spending big anytime soon, which means companies need to be more strategic to tap what's still a massive market, according to McKinsey.

Canada’s economy contracted in the third quarter of the year, but Statistics Canada’s revised data shows the country is still managing to avoid a technical recession.