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Financial Markets

Saudi Aramco Begins Exploring $1 Billion IPO

Saudi Aramco Base Oil Co., the refining unit of the state-owned Saudi oil company, has begun planning for its initial public offering (IPO) on the Saudi stock exchange. The company has announced that it has hired banks including Citigroup and HSBC Holdings Plc to...

Oil Plummets as OPEC Reportedly Considering an Output Increase

Oil continued to decline on Monday amid reports that Saudi Arabia and other OPEC members are considering an increase in output as China's tightening anti-Covid restrictions threaten supply. Global benchmark Brent declined by approximately 6% to $83; its lowest price since January. As the European...

U.S. Natural Gas Futures Fall Following Demand Forecast

U.S. natural gas futures fell by 4% on Wednesday, thereby hitting a two-week low. Front-month gas futures fell 4.1% to $5.785 per million British thermal units—the lowest figure since November 1. This comes after forecasts for less cold weather and lower-than-expected heating demand next week...

Walmart Shares Rise Following Better-Than-Expected Earnings Report

Walmart shares gained 5% in premarket trading on Tuesday after the retail giant forecast a smaller fall in profit than analysts expected. Despite recent price hikes amid the United States inflation struggles, Walmarts' discounts on clothing and electronics have assisted to attract U.S. shoppers...

Futures Decline Ahead of Retail Earnings Announcements

U.S. stock futures started the week lower as investors await the release of earnings from the retail sector. Futures on the S&P 500 fell by 0.3% while futures on the Dow Jones Industrial Average and Nasdaq Composite declined by 0.2% and 0.4% respectively. Such losses...

Investors Doubtful of Inflation Rebound Amid U.S. Stock Rally

Investors have expressed doubts about whether inflation can continue to cool down as high stock valuations persist. U.S. stock indexes have been on the rise since the day of the Midterm elections. The Nasdaq Composite Index gained 8.1% over the past week, with tech stocks...