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Oil edges up in volatile session but falls for 6th straight week

NEW YORK: Oil ended slightly firmer after volatile trading on Friday, supported by expectations that the Organization of the Petroleum Exporting Countries would agree to cut output next month, though prices fell for the sixth straight week amid global oversupply concerns.

Brent settled up 14 cents, or 0.2 percent, at $66.76 a barrel. The global benchmark fell 4.6 percent in the week, the sixth consecutive decline.  U.S. crude settled unchanged at $56.46 a barrel after trading between $55.89 and $57.96. The contract, which had its steepest one-day loss in more than three years on Tuesday, fell 5.6 percent in the week, also its sixth straight weekly decline.

S&P, Dow advance on trade optimism

NEW YORK: The S&P 500 and Dow Industrials rose on Friday after President Donald Trump said the United States may not have to impose further tariffs on Chinese goods, but falling shares of Nvidia Corp dragged down the Nasdaq

The Dow Jones Industrial Average rose 123.95 points, or 0.49 percent, to 25,413.22, the S&P 500 gained 6.07 points, or 0.22 percent, to 2,736.27 and the Nasdaq Composite dropped 11.16 points, or 0.15 percent, to 7,247.87

Short position

PLASTIC packaging manufacturer Scientex Bhd this week launched a mandatory takeover of Daibochi Bhd to expand its flexible packaging business.

Third quarter growth at 4.4%

Contrary to market prediction, Malaysia’s economy grew at a marginally slower pace in the third quarter, instead of picking up pace.

Nor Shamsiah: Growth was affected by lingering commodity-specific supply shocks. — Bernama

New appointments suggest hidden hands at work

The alternative view - By M. Shanmugam
THE television series Yes Minister in the 1980s and its sequel, Yes, Prime Minister, is a political satire on a minister in the British government whose moves to bring about changes is opposed by the civil service.

Should we be worried of the ‘R’ word?

Comment - By Pankaj C. Kumar
HAVING spoken about the local economy and sectors as well as on selected individual stocks over the past three months in this column, perhaps it’s an opportune time to revisit what is happening externally and its implications on not only Malaysia’s economy, but the market as a whole.

Recession poser: People passing by the New York Stock Exchange recently. In the past month, few comments were made on potential recession in the US either in 2019 or 2020. — AFP