because oil producing countries agreed to continue cutting production basically to push up prices which seems to be working so far. saudi arabia said it would make cuts of1 million barrels a day injuly and 0pec+ said targets would drop by 1.4 million barrels per day from 202a. 0pec+ accounts for a1% of crude oil and let s get more for our middle east correspondent. it was widely expected before the meeting started on the weekend that 0pec+ would reduce oil production because it is hovering around $75 a barrel. there are concerns it could fall further with global economy struggling and demand wiggling. saudi arabia and some countries were really keen that the oil group goes ahead and makes another cut as a group but most countries were against that idea because any would cut the oil revenue crucial for their economies. saudi arabia was the only one who could make the cut and be able to manage its budget. why is saudi arabia keen to make these cuts? if you look at oil prices as
Gaming consoles, has been transformed by demand from data centres, which are at the heart of the generative ai boom and have sent its share price on a tear. The stock . Well, its up 97 this year alone. We had more insight into nvidias results with marc einstein, chief analyst, telecommunications Digital Services at itr corp. I asked him if he thinks the chip giants current momentum is sustainable. I cant really remember the last time we were talking about triple digit growth in the tech industry. So this is very exciting but, as youve said, this is being driven by the Big Data Centre players, and they do have a buying cycle and so i think we need to be a little bit cautious when we think about, you know, how long we can expect this kind of Phenomenal Growth to continue. Well, nvidia also announced that they will be having a 10 for 1 stock split. What does that mean for investors . I 10for1 stock split. What does that mean for investors . I mean what it really that mean for investors .
Bank will likely push the timing of Interest Rate cuts further down the line. Meanwhile, on tuesday, australias government will unveil its annual budget, and were expecting measures to ease cost of living pressures in the country. And on friday, well get more data from china which should give us clues on whether consumers are spending with the release of Monthly Retail sales numbers. Tim waterer, chief market analyst, kcm trade, gave us his analysis. The latest batch is front and centre for financial markets. We are hoping to see maybe it will take down, two, three, 5 . If we see it heading in the right direction, then it could give the markets and momentum, as well as other assets, such as well as other assets, such as gold, and it could take some steam out of those us treasury yields, which remain elevated. But on the flip side, we know Inflation Data can be uncooperative and if it starts to edge higher, we have seen cases of that in the past, it could upset some of the confidence in
Prices rise too quickly, Americas Central Bank will likely push the timing of Interest Rate cuts further down the line. Were also watching this week, on tuesday, australias government will unveil its annual budget, and were expecting measures to ease cost of living pressures in the country. And on friday, well get more data from china which should give us clues on if consumers are spending with the release of Monthly Retail sales numbers. Tim waterer, chief market analyst, kcm trade, gave us his analysis. The latest batch of us Inflation Data will be front and centerforfinancial and center for Financial Markets this and centerforFinancial Markets this week. The hope is it would take down to 3. 5 , if so, if we see the head in the right direction then that could give some Equity Markets a momentum, other assets such as gold could take some sting out of the us treasury yields which remain elevated. In the flip side, we note inflation can be uncooperative and if it edges higher, weve seen
Must resist calls for premature Interest Rate cuts. Her comments come a day after us data showed a Surprise Increase in consumer inflation. But she also warned that waiting too long could chill economic activity, saying debt is up and the Global Economy faced a decade of weak growth, which she labelled the tepid 20s. We are, indeed, heading for the tepid 20s. A sluggish and disappointing decade. Mr georgievas comments come as the International Monetary fund and its fellow lending agency, the world bank, prepares to host their Spring Meeting next week in washington, where finance ministers, central bankers and policymakers from Around The World will discuss the Global Economys most pressing issues. The annual gathering takes place as several conflicts threaten Global Financial stability, including russias invasion of ukraine and the war between hamas and israel in gaza. Staying with the us, where large banks will kick off theirfirst quarter earnings season later today. Wall street Gian