Fri, Apr 26, 2024 7:15 PM
Exxon Mobil's Stock Slides Following Q1 Earnings - Here's Why
A Flip by Avya Verma
Oil prices ticked up early on Tuesday after Israel struck Rafah in Gaza while negotiations for a ceasefire with Hamas continued without resolution. Brent crude futures were up 46 cents, or 0.55%, at $83.79 per barrel at 0010 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 46 cents, or 0.59%, to $78.94 a barrel. Prices had edged upward on Monday.
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Asian shares made 15-month highs on Tuesday on renewed confidence of U.S. interest rate cuts, while traders waited on a policy meeting in Australia later in the day and had a close eye on a falling yen. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3% in early trade. Hong Kong shares traded marginally lower.
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Gold prices edged up for a second session on Tuesday, after recent economic data boosted bets that the Federal Reserve would cut interest rates later this year. Spot gold rose 0.2% at $2,327.11 per ounce, as of 0034 GMT. U.S. gold futures firmed 0.2% to $2,336.20. Traders are pricing in a 64% chance of a Fed rate cut in September, as per CME's FedWatch Tool.
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