Investors switch focus from trade to fundamentals

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Equities in Asia received a boost as a result of higher commodity prices and strong U.S. earnings announcements. Energy and mining stocks are leading the gains this morning, as Brent and WTI traded at their highest levels since late 2014. Oil found support after data from the Energy Information Administration showed that crude inventories dropped 1.1 million barrels in the week to 13 April, while gasoline and distillate stockpiles fell by more than 3 million barrels. Now it is OPEC and Co.’s turn to capitalize on the bullish report as they meet in Jeddah on Friday.

While the… Read More

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