What banks and Wall Street dealers pay for overnight cash in the repurchase agreement market surged on Monday to its most expensive levels since early 2019 as the cash for lending fell due to payments on corporate taxes and the supply of Treasuries. The overnight rate in the repurchase agreement market jumped to 4.10% from 2.29% late on Friday.
Oil prices jumped roughly 12% on Monday after an attack on Saudi Arabian crude oil facilities over the weekend sliced the kingdom's production in half and intensified concerns of retaliatory actions in the Middle East.
* Palladium slips after hitting record high. * Oil prices surge after attacks on Saudi oil facilities. * U.S. Fed, BoJ meetings in focus later in the week. By Asha Sistla. Gold gained 1% on Monday after attacks on oil facilities in Saudi Arabia fuelled concerns of a further escalation in Middle East tensions and pushed investors towards safe-haven assets.
- U.S. stocks fell on Monday on global growth worries after weekend attacks on Saudi Arabia's crude facilities hit 5% of the world's supply, but a sharp jump in crude prices lifted beaten-down energy stocks and kept losses in check.
Willie Elzy has been readying for a possible strike against General Motors Co (GM) for months and, pointing to a parking lot full of freshly built pickup trucks, he says it's clear the automaker has been preparing too.
* Energy sector jumps more than 2% * Airlines, cruise operators fall on cost concerns. * Defense cos rise amid geopolitical tensions. * United Auto Workers call for strike on GM; shares fall. * Indexes down: Dow 0.49%, S&P 0.35%, Nasdaq 0.30% By Medha Singh and Ambar Warrick.
* Washington accuses Iran of attack on global economy. * Iran denies blame, says it's ready for war if necessary. * Yemen's Houthis say they will attack again. * Months could be needed for output to recover - sources. * GRAPHIC-Attack leads to biggest oil loss. By Rania El Gamal and Aziz El Yaakoubi.
Gold prices look to have established a new floor at $1,500 per ounce, Kinross Gold Corp's (KGC) chief executive officer said on Monday, giving the Canadian miner confidence to push ahead with expansion plans at a key West African mine.
* Trading volumes jump 29% in three years. * Spot trading declines; FX swaps hit 49% of volumes. * London's share hits 43%, up from 37% in 2016. * Interactive graphic on FX trading https://tmsnrt.rs/305PApu. * Interactive graphic on FX market share https://tmsnrt.rs/300r7lM. By Tommy Wilkes and Saikat Chatterjee.
The dollar rose against a
basket of currencies on Monday as U.S. President Donald Trump's
authorization of the use of an emergency crude stockpile in
response to drone attacks on Saudi Arabian ...
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