Israel’s military offensive in Gaza that followed an Oct. 7 attack by the enclave’s ruling Islamist group Hamas has raised calls in the Middle East, particularly from OPEC member Iran, for using oil as a weapon to punish Israel.
Saudi Arabia, Russia and other members of OPEC are scheduled to meet in Vienna on Sunday and could make further changes to an agreement that already limits supply into 2024, according to analysts and OPEC+ sources, to support the market.
Top U.S. electronics retailer Best Buy on Tuesday forecast a bigger decline in annual comparable sales and pointed to “difficult to predict” consumer demand, days ahead of Black Friday that signals the start of the holiday shopping season.
Kohl’s posted a bigger than expected drop in quarterly sales on Tuesday as customers spent less dollars at its department stores amid persistently high inflation, sending its shares down 4% before the bell.
As U.S. regulators ready rules that would push more trading in Treasuries to a central clearing venue, the industry’s focus is turning on a key question: how much collateral should hedge funds and others put up to trade there.
Medtronic beat second-quarter profit and revenue estimates and raised its annual earnings forecast on Tuesday, banking on strong sales in its surgical and diabetes units, sending its shares up 2% in premarket trading.