OPEC and its Russia-led allies moved closer on Friday to clinching a deal that would cut oil production by more than the market had expected despite pressure from U.S. President Donald Trump to reduce the price of crude.
As lawmakers gather in Britain’s parliament on Tuesday to vote on the future of the country’s relationship with Europe, traders in London’s financial hub will be bracing for a potential burst of market turmoil that could affect the Brexit process itself.
U.S. job growth slowed in November and monthly wages increased less than expected, suggesting some moderation in economic activity that could support expectations of fewer interest rate increases from the Federal Reserve in 2019.
U.S. stock futures recovered from slight losses to trade flat on Friday after data showed a slowdown in U.S. jobs growth in November, pointing to fewer future rises in interest rates.
Oil prices jumped more than 5 percent on Friday as big Middle East producers in OPEC agreed to reduce output to drain global fuel inventories and support the market.
U.S. job growth slowed in November and monthly wages increased less than expected, suggesting some moderation in economic activity that could support expectations of fewer interest rate increases from the Federal Reserve in 2019.
Oil prices jumped more than 2 percent on Friday as Russia and the major Middle East producers in OPEC edged closer to an agreement to reduce output to try to drain inventories and support the market.
U.S. stock index futures pared nearly all losses on Friday after data showed a slowdown in November U.S. jobs growth, which could support expectations of fewer interest rate increases from the Federal Reserve in 2019.
Iran gave OPEC the green light on Friday to reduce oil output by around 0.8 million barrels per day from 2019 after finding a compromise with rival Saudi Arabia over a possible exemption from the cuts, an OPEC source said.
U.S. job growth slowed in November and monthly wages increased less than expected, suggesting some moderation in economic activity that could support expectations of fewer interest rate increases from the Federal Reserve in 2019.
U.S. President Donald Trump on Friday sounded an optimistic note about negotiations with China on trade issues, but did not offer any details in an early morning tweet, as major companies worried about how the arrest of a top Huawei executive would affect relations between Washington and Beijing.
Iran gave OPEC the green light on Friday to cut oil output by around 0.8 million barrels per day from 2019, an OPEC source said.
Monday is the end of former Nissan chairman Carlos Ghosn’s 22-day detention, having been held without charge since his arrest on suspicion of under-reporting compensation for five years following a whistleblower tip-off.
U.S. stock futures fell about 0.5 percent on Friday, sitting out a modest recovery in global markets, as investors awaited U.S. payrolls data amid fears that the economy is heading into a rough patch after years of solid growth.
The European Union should be worried about Huawei [HWT.UL] and other Chinese technology companies because of the risk they pose to the bloc’s industry and security, the EU’s technology commissioner said on Friday.
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