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☆ The NHL has strict rules for how much teams can spend. Here's how it works
  + stars: | 2024-11-20 | by ( Jake Piazza | In | ) www.cnbc.com   time to read: +4 min
The pay limit has been in place since the end of a labor dispute that caused the cancellation of the entire 2004-05 NHL season. Sports business experts said the strict salary cap has helped the league's financial health since the full season stoppage. The hard salary cap is a stark difference from Major League Baseball and the National Basketball Association, which have no salary cap and a soft salary cap, respectively. But the hard cap means NHL teams have to be especially diligent. The NHL is planning to start negotiations with the NHLPA in early 2025, NHL Commissioner Gary Bettman said at this year's NHL Board of Governors meeting.
Persons: NHLPA, Rick Burton, Burton, Irwin Kishner, Herrick Feinstein, It's, Jalen Brunson, Gary Bettman Organizations: Florida Panthers, Stanley, Edmonton Oilers, Amerant Bank, National Hockey League, NHL, Toronto Maple Leafs, Columbus Blue Jackets, Official, National Hockey League Players Association, CBA, Syracuse University, Major League Baseball, National Basketball Association, National Football League, firm's Sports Law, Los Angeles Dodgers, Athletic, New York Knicks, ESPN, Governors Locations: Sunrise , Florida, American
☆ Dollar eyes weekly gain on slower Fed easing, inflation outlook
  + stars: | 2024-11-15 | by ( ) www.cnbc.com   time to read: +4 min
The euro was in turn on track for its worst weekly performance in seven months with a fall of 1.75%. Sterling traded 0.02% lower at $1.2666 and was similarly set to lose 2% for the week, its worst weekly fall since January 2023. Higher trade tariffs and tighter immigration under President-elect Trump's incoming administration are projected to fuel inflation, potentially slowing the Fed's easing cycle longer term. The yen was last 0.2% lower at 156.57 per dollar, on track for a weekly decline of 2.5%. Elsewhere, the Australian dollar eased 0.06% to $0.6450 and was set to lose just over 2% for the week, its worst weekly performance in four months.
Persons: Donald Trump's, Sterling, Jerome Powell, Carol Kong, CBA's, bitcoin, Joshua Chu Organizations: Traders, Commonwealth Bank of Australia, U.S ., Treasury, New Zealand, Hong Kong Web3 Association Locations: U.S, CBA's Kong
☆ CNBC Sport: Adam Silver speaks exclusively, and TKO makes a big bet
  + stars: | 2024-10-24 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com   time to read: +21 min
☆ WNBA Finals Game 5 draws highest viewership in 25 years
  + stars: | 2024-10-23 | by ( Jake Piazza | Jason Is A Digital Rotation Program Associate For Cnbc. | ) www.nbcnews.com   time to read: +2 min
The fifth game of this year’s WNBA Finals between the Minnesota Lynx and the New York Liberty was the most-viewed WNBA finals game in 25 years across all networks, according to ESPN, citing Nielsen data. The National Football League’s “Sunday Night Football” and Major League Baseball’s National League Championship Series aired at the same time. Viewership across the entire WNBA Finals series more than doubled compared to last year, a continuation of the growing popularity of the WNBA and women’s sports more broadly. Minnesota Lynx forward Bridget Carleton drives against New York Liberty forward Jonquel Jones in Game 5 of the WNBA Finals. The impressive viewership caps off a WNBA season that saw viewership, engagement and attendance up across the board.
Persons: Bridget Carleton, Jonquel Jones, Pamela Smith Organizations: Minnesota Lynx, New York Liberty, ESPN, Nielsen, League Baseball’s National, WNBA, Lynx, Liberty, National Basketball, CNBC, Golden State, Basketball Players, CBA, Associated Press
☆ Asia-Pacific markets climb with China's central bank in focus; S&P and Dow set fresh records
  + stars: | 2024-09-24 | by ( Lim Hui Jie | ) www.cnbc.com   time to read: +1 min
Asia-Pacific markets climbed on Tuesday, tracking gains on Wall Street after the S&P 500 and Dow Jones Industrial Average touched new closing highs in Monday's trading session. The broad market index added 0.28% to end at 5,718.57, while the Dow Jones Industrial Average gained 61.29 points, or 0.15%, to close at 42,124.65. The briefing is set to begin before Chinese markets open at 9:30 a.m. Currently, futures for the mainland Chinese CSI 300 are at 3,205.6, slightly lower than its last close of 3,212.76. As such, CBA expects a slightly less hawkish statement, but does not see a material shift in language or tone.
Persons: Pan Gongsheng Organizations: Dow Jones, Dow Jones Industrial, Traders, People's Bank of China, PBOC, CSI, Reuters, Commonwealth Bank of Australia, CBA Locations: Asia, Pacific, Australia's
☆ Yen nurses losses as BOJ meets, dollar dogged by rate outlook
  + stars: | 2024-09-20 | by ( ) www.cnbc.com   time to read: +3 min
Japanese 10,000 yen, left, and US 100 dollar banknotes arranged for a photograph in Tokyo, Japan, on Friday, May 10, 2024. It has been a tough week for the yen, with the euro gaining 2.2% to 159.46 as speculators booked profit on recent long yen positions. The dollar was up 1.4% for the week at 142.84 yen , though off an overnight high of 143.95. "As such, there is scope to further raise the policy rate while keeping financial conditions accommodative," she said. "The recent financial market ructions and the upcoming Liberal Democratic Party election may make the BOJ more cautious about raising."
Persons: Samara Hammoud, Kazuo Ueda, Sterling Organizations: Bank of, U.S ., CBA, 25bp, Liberal Democratic Party, U.S Locations: Tokyo, Japan, Bank of Japan, Samara, China, U.S . Federal, Bank of England
☆ Why Caitlin Clark and other WNBA stars make modest salaries even as the sport booms
  + stars: | 2024-09-19 | by ( Tala Hadavi | Https | Www.Linkedin.Com In Tala-Hadavi | ) www.cnbc.com   time to read: +4 min
The WNBA has enjoyed some of the fastest growth a sports league has ever seen, thanks in large part to superstar rookies Caitlin Clark and Angel Reese. But top WNBA players don't yet have the lofty salaries to match. Once the WNBA season is over, Jones plays a second season in Europe, mainly to complement her salary. The money is allocated from the $75 million the WNBA raised in 2022 from a group of investors. Though the WNBA's success has not yet led to the massive salaries seen in men's pro sports, many in the league believe it's only a matter of time.
Persons: Caitlin Clark, Angel Reese, they've, Sportico's, Cathy Engelbert, Brionna Jones, A'ja Wilson, Breanna Stewart, Jones, I'm, Engelbert, Stephanie White, It's, we've Organizations: WNBA, Las Vegas Aces, Seattle Storm, New York Liberty, Disney, Amazon Prime, NBA, Connecticut Sun, The Washington Post, CBA Locations: Europe, The Washington
☆ NWSL and players association agree to abolish draft, raise player pay in new CBA
  + stars: | 2024-08-22 | by ( Jill Martin | ) edition.cnn.com   time to read: +2 min
CNN —The National Women’s Soccer League (NWSL) and NWSL Players Association have a new collective bargaining agreement, one which includes higher pay, expanding benefits and – in a notable move – abolishing the draft. With the new CBA, which will be in place through 2030, the NWSL becomes the first major American professional sports league to abolish its player draft. “The draft is an antiquated model that empowers teams to decide for Players instead of Players deciding for themselves,” NWSLPA president Tori Huster said. This, the league said in its statement announcing the CBA, aligns NWSL standard player agreements with FIFA regulations on the status and transfer of players. “This CBA gives us agency over our business and gives the players agency over their careers.
Persons: ”, Tori Huster, “, Jessica Berman Organizations: CNN, Women’s Soccer League, NWSL, CBA, FIFA, Governors Locations: American
☆ Asset manager discusses CBA earnings, Australia's financial sector
  + stars: | 2024-08-14 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAsset manager discusses CBA earnings, Australia's financial sectorJason The, CIO of Vertium Asset Management, says the Australian economy is "certainly slowing."
Persons: Jason The Organizations: Vertium Asset Management
☆ Dollar droops after benign inflation data; kiwi firm before RBNZ decision
  + stars: | 2024-08-14 | by ( ) www.cnbc.com   time to read: +3 min
The dollar remained on the back foot on Wednesday after tumbling versus major peers overnight as a benign reading for U.S. producer prices reinforced bets on Federal Reserve interest rate cuts this year. Risk-sensitive currencies stayed strong after the unexpected softening in inflation buoyed equities, even with crucial U.S. consumer price index figures still looming later on Wednesday. New Zealand's dollar hovered near a four-week high ahead of a Reserve Bank of New Zealand policy decision, with markets split over the potential for a rate cut. The dollar was stable at 147.06 yen as it continued to consolidate around the 147 level this week. The kiwi edged up 0.07% to $0.6081, close to Tuesday's high of $0.60815, a level last seen on July 18.
Persons: CME's, Carol Kong, Sterling, Tony Sycamore Organizations: Australian, New, Reserve Bank of New, Traders, Federal, Commonwealth Bank of Australia, U.S, CPI, CBA, IG Locations: Reserve Bank of New Zealand
☆ OPEC+ must maintain supply discipline and keep voluntary cuts in place: Economist
  + stars: | 2024-08-12 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOPEC+ must maintain supply discipline and keep voluntary cuts in place: EconomistVivek Dhar, director and mining and energy economist at CBA, says should happen "at least till the end of this year."
Persons: Vivek Dhar Organizations: CBA
☆ Euro rises after France's first-round vote, yen struggles
  + stars: | 2024-07-01 | by ( ) www.cnbc.com   time to read: +3 min
The euro rose on Monday after the first round of France's snap election put the far-right in pole position, though by a smaller margin than projected, while a downgrade to Japan's first-quarter growth figures knocked the yen lower. "They (RN) have actually performed a little bit worse than what was expected," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. The yen struggled to gain ground against a broadly weaker dollar, and was last 0.05% lower at 160.93 per dollar. That could lead to a cut to the Bank of Japan's growth forecasts in fresh quarterly projections due later this month and affect the timing of its next interest rate hike, analysts said. Elsewhere in Asia, the Chinese yuan - also a victim of stark interest rate differentials with the U.S. - was last 0.02% higher at 7.2981 per dollar in the offshore market.
Persons: Emmanuel Macron, Carol Kong, Michael Brown, CBA's Organizations: Commonwealth Bank of Australia, Reserve, New Zealand, Bank of, U.S Locations: Japan, Asia
☆ The rule capping credit card late fees at $8 is on hold — here’s what it means for you
  + stars: | 2024-05-10 | by ( Hugh Son | ) www.cnbc.com   time to read: +2 min
The U.S. banking industry won a key victory in its effort to block the implementation of a Consumer Financial Protection Bureau rule that would've drastically limited the fees that credit card companies can charge for late payment. The CFPB estimates that the rule would've saved American families $10 billion a year in fees paid by those who fall behind on their bills. It would've capped late fees that are typically $32 per incident to $8 each and limited the industry's ability to hike the fees. "Consumers will shoulder $800 million in late fees every month that the rule is delayed — money that pads the profit margins of the largest credit card issuers," a CFPB spokesman told CNBC on Friday. The CBA said it will continue to press its case in the courts on why the CFPB rule should be "thrown out entirely."
Persons: Rohit Chopra, Mark Pittman, would've Organizations: Consumer Financial Protection Bureau, Banking, Housing, Urban Affairs Committee, Washington , D.C, Financial, Bureau, Northern, Northern District of Texas, U.S . Chamber of Commerce, U.S, CNBC, Consumer Bankers Association, District, CBA Locations: Washington ,, U.S, Northern District
☆ Yen clings to sharp gains after suspected intervention, Fed in focus
  + stars: | 2024-04-30 | by ( ) www.cnbc.com   time to read: +3 min
The yen held its line against the dollar on Tuesday after making sharp gains the previous day in moves that traders said were sparked by suspected intervention by Japanese authorities. "There is clearly a possibility that the sharp and sudden lifts in the JPY were sparked by intervention. Official figures that would reveal whether intervention did in fact occur won't be available until late May. The Japanese currency still sits lower than it was before the Bank of Japan's policy announcement last week. The Fed is expected to strike a hawkish message, meaning more yen selling is likely, CBA's Kong said.
Persons: haven't, Masato Kanda, Carol Kong, bode, CBA's Kong, pare, Sterling, bitcoin Organizations: Federal, Commonwealth Bank of Australia, Trading, Markets, Bank of, Fed, Traders, European Central Bank Locations: Buenos Aires, Argentina, Tokyo, Asia, Japan, U.S, Bank of England
☆ Aussie, New Zealand dollars tumble on risk-off moves; yen rises
  + stars: | 2024-04-19 | by ( ) www.cnbc.com   time to read: +4 min
The risk-sensitive Australian dollar tumbled 0.8% to $0.6370, and the New Zealand dollar fell 0.63% to $0.5864. ABC News reported late on Thursday that Israeli missiles have hit a site in Iran, citing a U.S. official. The shift in rate expectations has come on the back of a slew of resilient U.S. economic data that has repeatedly surpassed expectations, alongside still-sticky inflationary pressures. "Although policy easing may arrive a bit later than previously expected, we still believe the FOMC will start cutting rates before the year is out," said economists at Wells Fargo. Against a basket of currencies, the greenback rose 0.1% to 106.28, hovering near a more than five-month high of 106.51.
Persons: Carol Kong, I'm, Kazuo Ueda, it'll, CBA's, Jerome Powell Organizations: New, Hamas, U.S ., U.S, New Zealand, ABC News, Commonwealth Bank of Australia, Bank of Japan, European Central Bank, ECB Locations: New Zealand, Iran, United States, Japan, South Korea, U.S, CBA's Kong, Wells Fargo
☆ Dollar steadies, yen pinned near 152
  + stars: | 2024-04-03 | by ( ) www.cnbc.com   time to read: +4 min
The dollar was steady on Friday after data showed U.S. inflation remained sticky but easing gradually, keeping alive the chance of the Federal Reserve cutting rates in June, while the yen slid back to the key 150 per dollar level. The dollar was on the front foot on Wednesday, pinning the yen near its lowest in decades though the heightened threat of currency intervention by Tokyo capped further declines in the Japanese currency. The yen was last at 151.585 per dollar, languishing near last month's slump to 34-year lows of 151.975 in the wake of the Bank of Japan's historic policy shift. The dollar , which on Tuesday touched a nearly five-month high of 105.10 against a basket of currencies, was last steady at 104.76. "I think the dollar will hold up pretty well in the near term, and that will be a headwind for the other major currencies."
Persons: Morgan Stanley, Koichi Sugisaki, Sterling, Carol Kong, CBA's Organizations: Federal Reserve, Bank of, Ministry of Finance, U.S ., U.S, Commonwealth Bank of Australia, Traders, Fed, New Locations: Tokyo, Japan, U.S, CBA's Kong, New Zealand
☆ ECB unlikely to start cutting interest rates until June: Strategist
  + stars: | 2024-03-04 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB unlikely to start cutting interest rates until June: StrategistJoseph Capurso of CBA says there are more signs of inflation retreating in the U.S. than in Europe, with euro zone inflation remaining "sticky".
Persons: Joseph Capurso Organizations: ECB, CBA Locations: U.S, Europe
☆ Dollar firms ahead of busy data week with U.S. inflation in focus
  + stars: | 2024-02-26 | by ( ) www.cnbc.com   time to read: +4 min
The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a U.S. inflation reading taking center stage. The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a U.S. inflation reading taking center stage. The kiwi had risen 1.2% last week, helped by broad dollar weakness and the risk of a rate hike from the RBNZ on Wednesday. "If anything, the (data) may be stronger than markets currently expect, and that will likely give a modest boost to the dollar," said CBA's Kong. "But at the same time, any gains in the dollar will likely be pretty modest.
Persons: Carol Kong, Sterling, Jane Foley, CBA's Organizations: Reserve Bank of New, New Zealand, Commonwealth Bank of Australia, of Japan's, U.S, Rabobank, U.S . Commodity Futures, Fed Locations: Japan, Australia, Reserve Bank of New Zealand, China, Asia, U.S
☆ Credit card interest rates are at record highs. Cards have 'never been this expensive,’ CFPB says
  + stars: | 2024-02-23 | by ( Greg Iacurci | ) www.cnbc.com   time to read: +4 min
The share of consumers with "subprime" credit scores who hold a credit card has been "relatively stable," they said. Major credit card issuers got $25 billion in extra interest by raising their average APR margin over the last 10 years, the CFPB estimated. "Higher APR margins have allowed credit card companies to generate returns that are significantly higher than other bank activities." They're among the nation's biggest credit card issuers. How to manage credit card interest
Persons: Martinez, Seikel, Lindsey Johnson, Greg McBride, McBride, That's Organizations: Bank, Getty, Consumer Bankers Association, CBA, Federal Reserve Bank of New, Financial, Discover Financial Locations: Federal Reserve Bank of New York
☆ First PWHL Trade Stuns and Reminds Women's Hockey Players About Reality of Professional Ranks
  + stars: | 2024-02-16 | by ( Associated Press | Feb. | At P.M. | ) www.usnews.com   time to read: +5 min
“I didn’t even make it home, and you’re telling me that I got traded,” Tapani added, remembering what she told Minnesota GM Natalie Darwitz. The trade became the first to put CBA relocation clauses to the test, while creating some initial confusion among the players involved. Jaques and Cook left their cars behind, unsure of how to get them to their new cities. Cook said PWHL officials have been in contact to help with the challenges of relocation. “They’ve been asking and trying to learn about what we’re going through, so yeah, I think it’ll be different for the next lucky girl that gets traded,” Cook said.
Persons: Susanna Tapani, “, ” Tapani, Natalie Darwitz, Abby Cook, Sophie Jaques —, ” Jaques, PWHL, What’s, Jaques, Cook, they’re, Liz Schepers, Clair DeGeorge, Schepers, “ They’ve, ” Cook, ” Darwitz, Darwitz, Jacques, Lee Stecklein, Danielle Marmer, Marmer, ’ ”, GM Don Sweeney, Tapani, ”, it’s Organizations: hockey, Hockey, Minnesota, Tapani, NHL, Ohio, Boston, NHL's Bruins, GM, ” Locations: Twin Cities, Boston, Minnesota, Finland, Sweden, Russia
☆ Dollar scales fresh peaks as Fed cut bets recede
  + stars: | 2024-02-05 | by ( ) www.cnbc.com   time to read: +3 min
"A one-two punch from Jay Powell's FOMC presser and a very strong nonfarm payrolls report have essentially closed the door on a March rate cut," said Chris Weston, head of research at Pepperstone. The Japanese yen was last 0.15% lower at 148.58 per dollar, having hit a trough of 148.82 earlier in the session. Treasury yields also jumped on expectations of higher-for-longer U.S. rates, with the two-year yield, which typically reflects near-term interest rate expectations, last up nearly seven bps at 4.4386%. That did little to help the yuan, with the offshore yuan last marginally lower at 7.2182 per dollar, pressured by a stronger greenback. "So far we've just seen speculation and some media reports talking about further support for the equity market or the property market.
Persons: Jerome Powell's, Jay Powell's FOMC presser, Chris Weston, Powell, Carol Kong, CBA's Organizations: Federal Reserve, New, Traders, Fed, CBS, Sterling, Commonwealth Bank of Australia, Treasury Locations: Buenos Aires, Argentina, New Zealand
☆ Fears Grow That Dam Across Mekong River in Laos Could Harm World Heritage Site of Luang Prabang
  + stars: | 2024-01-31 | by ( Associated Press | Jan. | At P.M. | ) www.usnews.com   time to read: +9 min
LUANG PRABANG, Laos (AP) — Landlocked Laos doesn't have the famous beaches of its neighbors to attract tourists, but instead relies on the pristine beauty of its mountains and rivers and historical sites to bring in visitors. The crown jewel is Luang Prabang, a UNESCO World Heritage Site where legend has it that Buddha once rested during his travels. Nestled among the mountains of northern Laos, Luang Prabang was the capital from the 14th to the 16th century before it was moved to Vientiane. “This dam won't generate a lot of power for Laos, it's going to power new shopping malls in Bangkok,” Eyler said of the Luang Prabang project. “In isolation, the potential transboundary harmful effects due to the Luang Prabang hydropower project may not be substantial," the river commission said.
Persons: Buddha, it's, ”, Brian Eyler, Stimson, Eyler, ” Eyler, Philip Hirsch, “, you've, ” Hirsch, Vietnam —, Barbara Curti Organizations: UNESCO, Asia Program, Sustainability, ” UNESCO, Associated Press, Ministry of Information, Foreign Ministry, Heritage, Monitor, Sydney University, CBA, Commission Locations: LUANG PRABANG, Laos, Prabang, Southeast Asia, Washington, Luang Prabang, Luang, Paris, New Delhi, Vientiane, Vietnam, China, Kunming, Thailand, Stimson, Bangkok, British, Cambodia, Asia, asia
☆ Waiting for Shohei: MLB Free-Agent Market Slow as Ohtani Mulls Big Money
  + stars: | 2023-12-04 | by ( Associated Press | Dec. | At P.M. | ) www.usnews.com   time to read: +4 min
Big-name free agents appear in no hurry to strike deals at the winter meetings, biding time until Shohei Ohtani potentially breaks the record for richest contract set 4 1/2 years ago by Mike Trout. “It's probably a little slower from a conversation standpoint at a winter meetings than it normally would,” New York Mets president of baseball operations David Stearns said Monday. Behind Ohtani in the hitters free-agent pecking order are Cody Bellinger and Matt Chapman, both represented by the sport's biggest agent, Scott Boras. Among starting pitchers, the market includes Blake Snell and Jordan Montgomery, also represented by Boras. “He’s going to make other pitchers better.”___AP Sports Writer Teresa M. Walker contributed to this report.
Persons: ., Shohei, Mike Trout, Yoshinobu Yamamoto, “ It's, ”, David Stearns, hasn't, ” Ohtani, Nez, Cody Bellinger, Matt Chapman, Scott Boras, Blake Snell, Jordan Montgomery, Farhan Zaidi, “, Ross Atkins, Atkins, San Diego, Juan Soto, Jarred Kelenic, Marco Gonzales, Evan White, Cole Phillips, Jackson Kowar, Gonzales, White, Eugenio Suárez, Carlos Vargas, Seby Zavala, Scott Servais, “ That’s, Jackson Chourio, “ There’s, I’m, ” Chourio, Milwaukee, Wade Miley, Pat Murphy, “ He’s, Teresa M, Walker, ___ Organizations: ” New York Mets, Los Angeles Angels, Creative Artists Agency, Gaylord, Convention, Boras, San Francisco Giants, CBA, Blue Jays, San, Atlanta Braves, Seattle Mariners, Atlanta, Seattle, ” Mariners, Brewers Locations: Tenn, Nez Balelo, ” Toronto, Nashville, Seattle, Arizona, Milwaukee
☆ Asia stocks swing lower, gold climbs as oil slips
  + stars: | 2023-11-27 | by ( Wayne Cole | ) www.reuters.com   time to read: +4 min
One mover was gold, which climbed to $2,009.87 an ounce and briefly hit a six-month top of $2,017.82. S&P 500 futures eased 0.2% and Nasdaq futures lost 0.4%. "Indeed, this message of patience is likely to be notable in upcoming DM policy communications in response to recent financial market developments." Markets priced in 80 basis points of U.S. easing next year, and around 82 basis points for the ECB. Reports suggest African oil producers are seeking higher caps for 2024, while Saudi Arabia may extend its additional 1 million bpd voluntary production cut, which is due to expire at the end of December.
Persons: Issei Kato, Jerome Powell, Bruce Kasman, Christine Lagarde, Brent, Wayne Cole, Stephen Coates Organizations: REUTERS, Nikkei, SYDNEY, Japan's Nikkei, Nasdaq, Federal, JPMorgan, European Central Bank, EU, ECB, CBA, Thomson Locations: Tokyo, Japan, United States, Europe, Asia, Pacific, Saudi Arabia, OPEC
☆ Asia stocks turn lower, gold jumps as oil slips
  + stars: | 2023-11-27 | by ( Wayne Cole | ) www.reuters.com   time to read: +4 min
S&P 500 futures eased 0.2%, and Nasdaq futures lost 0.4%. That in turn has been a drag on the dollar which has lost 3% on a basket of major counterparts this month . Reports suggest African oil producers are seeking higher caps for 2024, while Saudi Arabia may extend its additional 1 million bpd voluntary production cut, which is due to expire at the end of December. "Saudi Arabia and OPEC+ faces a challenge in convincing markets that it can help keep oil markets tight in 2024," wrote commodity analysts at CBA in a note. "OPEC+ will have to show significant supply discipline, or at least jawbone such ability, to alleviate market worries of a deep surplus in oil markets next year."
Persons: Issei Kato, Jerome Powell, Bruce Kasman, Christine Lagarde, Brent, Wayne Cole, Stephen Coates Organizations: REUTERS, Nikkei, SYDNEY, Japan's Nikkei, Nasdaq, Federal, JPMorgan, European Central Bank, EU, ECB, Australian, CBA, Thomson Locations: Tokyo, Japan, United States, Europe, Asia, Pacific, Saudi Arabia, OPEC
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