Investing.com - With 52% of the votes, Recep Tayyip Erdogan has been confirmed as Turkey's president until 2028, beating opposition leader Kemal Kilicdaroglu, who garnered just under 48% of the votes, in the second round.
Markets started the week in the green, with the Ibex 35, CAC 40 and DAX buoyed by U.S. President Joe Biden's confirmation on Sunday that he has reached a tentative agreement to raise the debt ceiling with House Republican leader Kevin McCarthy, and that the text is ready to be voted on in Congress. This eliminates it as a potential issue in the 2024 presidential election. Analysts at Link Securities said that welcome the agreement as it will prevent the country from defaulting on its payment commitments, which investors had been fearing.
Investing.com-- Singaporean state-backed investor Temasek Holdings said on Monday that it had reduced the compensation for the investment team and senior management responsible for recommending the now-bankrupt FTX cryptocurrency exchange.
Investing.com -- Most Asian currencies kept to a tight range on Monday, while the dollar steadied at a two-month high as signs of sticky inflation and rising U.S. interest rates largely offset optimism over a U.S. debt ceiling deal.
Investing.com -- Most Asian stocks rose on Monday as markets cheered a tentative deal between U.S. lawmakers to hike the debt ceiling and avert a default, with Japan’s Nikkei racing back to near 33-year highs on improved risk appetite.
Investing.com -- Oil prices rose in Asian trade on Monday as U.S. lawmakers said they had reached a provisional agreement to raise the debt ceiling, with focus now turning to key Chinese data this week for cues on the world’s largest oil importer.
Investing.com - U.S. stock futures were trading higher during Sunday's evening deals ahead of the Memorial Day public holiday, after major benchmark averages capped a positive week amidst ongoing debt ceiling negotiations, while closely watched PCE data came in higher than expected.
Investing.com -- Gold prices fell on Monday, extending three weeks of losses as strong inflation readings boosted the dollar and ramped up expectations of more interest rate hikes by the Fed, while fears of a U.S. debt default eased.
Investing.com -- With a tentative agreement in place to raise the U.S. debt ceiling investors will be turning their attention to the Federal Reserve's plan for interest rates. Friday's U.S. jobs report will be closely watched - a strong number would fuel expectations for another rate hike in June. Elsewhere, PMI data out of China is expected to add to the view that the recovery in the world's second-largest economy is faltering, while Eurozone inflation data is likely to add to pressure on the E
The much-awaited deal to raise the U.S. debt ceiling is in, President Joe Biden said on Saturday, potentially setting equity and commodity markets on a new wave of risk-taking - after weeks of fear about a government default on payments. “Earlier this evening, Speaker McCarthy and I reached a budget agreement in principle,” Biden said in an announcement on Twitter, barely 24 hours after Treasury Secretary Janet Yellen said the administration had until June 5 to avoid default. Republican congressional leader Kevin McCarthy and Democrats led by Biden and Senate Majority Leader Charles Schumer have been in a stand-off for more than a month in raising the $31.4 trillion debt ceiling.
Investing.com -- The latest economic data released Friday showing the U.S. consumer isn’t ready to tap out yet, and inflation is back on the up and up has dramatically tipped the scales in the favor of June Federal Reserve rate hike, leaving some on Wall Street nervously clutching onto their calls for a pause in June.
Investing.com -- U.S. Treasury Secretary Janet Yellen warned Friday that the U.S. will run out of cash by June 5, should the government fail to raise the debt limit.
Investing.com -- The Dow ended the week lower despite rallying on Friday as optimism grows that negotiators in Washington are closing in on a debt-ceiling agreement that is needed to prevent the U.S. from defaulting on its debt payments.
Investing.com -- The S&P 500 jumped Friday as negotiators in Washington inched closer to a debt-ceiling agreement that is needed to prevent the U.S. from defaulting on its debt payments.
On the other, it’s whether a stay or another cut is coming. New York-traded West Texas Intermediate, or WTI, crude settled Friday’s trade up 84 cents, or 1.2%, at $72.67 per barrel. London-traded Brent crude, the global benchmark for oil, settled up 69 cents, or 0.9%, at $76.95.
Investing.com -- Gold bulls are still counting on another record high if the Chicken Little metaphor of saving the world — or more precisely, the U.S. economy, from a government debt default or recession — doesn’t come true. Yet, the path of least resistance for the yellow metal over the past three weeks has been lower.
Investing.com -- Memorial Day weekend is kicking off as a busy one for travel, as AAA projects that 42.3 million Americans will journey at least 50 miles from home - a 7% increase over last year's figures.
Investing.com -- Tesla Inc (NASDAQ:TSLA) shares rose by 6% on news of an agreement with Ford Motor Company (NYSE:NYSE:F). The deal allows Ford electric vehicle (EV) owners to access Tesla's extensive Supercharger network starting next year.
Investing.com -- Stocks are surging on Friday as investor optimism rose about lawmakers reaching an agreement on the debt ceiling in the next few days. Here are the market movers for May 26.
U.S. stocks are rising as investors await the outcome of debt ceiling negotiations. At 10:50 ET (14:50 GMT), the Dow Jones Industrial Average was up 332 points or 1%, while the S&P 500 was up 1.1% and the NASDAQ Composite was up 1.6%. Lawmakers appear close to announcing a framework for an agreement, though the debt ceiling deadline of early June is still looming as Congress takes a break for the Memorial Day weekend.
Investing.com -- Jefferies has upgraded its rating of United Wholesale Mortgage Holdings Corp (NYSE:UWMC) to buy from hold and raised its price target to $7, citing market share momentum.
Investing.com - Citi analysts increased their price target from $210 to $229 on Salesforce Inc (NYSE:CRM) and maintained a neutral rating despite mixed performance during the quarter.
Oil prices rose Friday, heading towards their second consecutive week of gains on signs of tightening U.S. supply and improving fuel demand in the world’s largest oil consumer. Both benchmarks are on course for gains of close to 2% this week on expectations of tighter U.S. supplies as the travel-heavy summer season approaches, boosted by an unexpected, hefty fall in U.S. crude oil inventories last week. U.S. commercial crude oil inventories fell by 12.5 million barrels a day, the largest weekly decline since November, while ING noted that “the 4-week average for implied gasoline demand remains just above 9MMbbls/d, which is the highest post-COVID level seen for this time of year.”