Crude Oil Futures Settle Sharply Higher, Gain Over 8% In Week

European Economics Preview: Germany Industrial Output Data Due

Industrial production from Germany and unemployment from the euro area are the top economic news due on Monday.

At 1.45 am ET, the State Secretariat for Economic Affairs is scheduled to issue Swiss unemployment data for December. The jobless rate is forecast to rise to 2.1 percent from 2.0 percent in November.

At 2.00 am ET, Destatis is set to publish Germany industrial production for November. Economists forecast industrial output to grow marginally by 0.1 percent from October, when output was down 0.1 percent.

At 2.45 am ET, foreign trade and current account figures are due. The trade deficit is seen narrowing to EUR 11.3 billion in November from EUR 12.2 billion in October.

At 4.00 am ET, Italy’s Istat publishes unemployment data for November. Economists expect the jobless rate to remain unchanged at 7.8 percent.

Half an hour later, Eurozone Sentix investor confidence survey results are due. The investor sentiment index is forecast to rise to -18.0 in January from -21.0 in December.

At 5.00 am ET, Eurostat is scheduled to issue euro area unemployment for November. The jobless rate is seen unchanged at 6.5 percent.

National Instruments Climbs 17% After Announcing Strategic Options, Rights Plan

National Instruments Corp. (NATI) Shares are gaining more than 17 percent on Friday morning trade after announcing the initiation of a review and evaluation of strategic options.

The company plans to solicit interest from potential acquirers and other transaction partners as part of the strategic options.

The Board has approved the adoption of a short-term rights plan and authorized a dividend distribution of one right for each outstanding share of common stock.

Currently, shares are at $47.19, up 17.48 percent from the previous close of 40.17, up 1,981,766.

‘Aftersun’ Breakout Frankie Corio Signs With WME

EXCLUSIVE: Rising-star Frankie Corio has signed with WME for representation. Corio is coming off her star-making performance in A24’s Aftersun opposite Paul Mescal. The role has earned critical acclaim as well as several accolades including a Critics Choice Award for Best Young Actress as well as an honor from the London Film Critics Circle for Best Young Performer.

The film has also received eight BAFTA nominations as well as British Independent Film Award for Best British Independent Film.

Next up, she has the Lionsgate pic Bagman, which bows this summer and also starred Sam Claflin. She is also repped by the Artists Partnership.

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Crude Oil Futures Settle Sharply Higher, Gain Over 8% In Week

Crude oil prices rose sharply on Friday amid optimism energy demand from China will see a significant increase in the near to medium term.

Hopes of less aggressive rate hikes in the United States after data showed consumer price inflation slowed in the month of December also contributed to the advance.

West Texas Intermediate crude oil futures for February ended higher by $1.47 or about 1.9% at $79.86 a barrel.

WTI crude futures gained more than 8% in the week.

Brent crude futures were up $1.30 or 1.54% at $85.33 a barrel a little while ago.

China today reported better-than-expected trade figures, and the U.K. economy unexpectedly grew in November. The German economy avoided contracting in the final quarter of the year, boosting the global demand outlook.

China today said the country’s total trade of goods rose to an all-time high in 2022, reaching 42.07 trillion yuan, up 77% from 2021.

Data from the Labor Department on Thursday showed U.S. consumer inflation edged down by 0.1% in December after inching up by 0.1% in November.

The annual rate of consumer price growth slowed to 6.5% from 7.1% in November, marking the smallest increase since October 2021.

A report from the University of Michigan this morning showed a continued decrease in one-year inflation expectations, which tumbled to 4% in January from 4.4% in December, falling for the fourth straight month.