Friday, 29 May 2020 14:35 WIB
European markets retreated on Friday morning as escalating tensions between the U.S. and China push back on the week™s positive sentiment amid the reopening of economies across the continent.
The pan-European Stoxx 600 fell 1% at the start of trading, auto stocks dropping 3.2% to lead losses as all sectors except health care slid into negative territory.
U.S. President Donald Trump is...
Thursday, 28 May 2020 19:53 WIB
The U.S. economy contracted at an annual 5% pace in the first quarter instead of 4.8%, revised government data show. A downward revision to inventory investment mostly accounted for the downward revision, the Commerce Department said.
Looking ahead, economists surveyed by MarketWatch predict GDP will plunge at a 27.7% annual rate as people stayed home to try to stem the spread of the...
Friday, 29 May 2020 14:19 WIB
Oil prices edged lower on Friday, set to post their first weekly fall in five weeks, after U.S. inventory data showed lacklustre fuel demand in the world™s largest oil consumer while worsening U.S.-China tensions weighed on global financial markets.
Brent crude slipped 43 cents, or 1.2%, to $34.86 a barrel by 0643 GMT and U.S. West Texas Intermediate (WTI) crude was at $33.14 a barrel, down...