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Both the S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) closed lower as the trading week began, following a meeting between President Trump and Ukrainian President Zelenskyy, who discussed progress in the Russia-Ukraine war. The S&P 500 is on track for its worst year since 2009, while international stocks have outperformed. Investors are reassessing geographical allocations, with Asian markets benefiting from the AI boom. The Fed's upcoming minutes may provide insights into future rate paths. SPY fell 0.35% and QQQ dropped 0.46%.

- The S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) both closed lower as 2025's final trading week began, while the S&P 500 is on track for its worst year since 2009.  
- President Trump and Ukrainian President Zelenskyy discussed progressing toward ending the Russia-Ukraine war, despite ongoing territorial disputes, and Trump also spoke to Putin about recent drone attacks.  
- As international stocks outperform the S&P 500, market analysts are closely watching economic indicators such as the U.S. dollar, oil prices, and Treasury yields, with the Fed's upcoming minutes expected to influence investor strategies.

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Invesco QQQ Trust

SPDR S&P 500

Stock Market News Review: SPY, QQQ Retreat after Trump-Zelenskyy Meeting with Fed Minutes on Deck

Oil prices are rising due to geopolitical tensions. Data centers are contributing to increased electricity costs, while the U.K. faces challenges with its aging power infrastructure amid a push for green energy. Japan is looking to expand its nuclear power capabilities post-Fukushima. The EU is scrutinizing Turkey's oil-storage facilities, and concerns grow over wastewater injection in the Permian Basin. BP is selling its Castrol lubricants unit for $8 billion, and offshore wind projects face potential delays under Trump's administration.

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BP PLC-Spons

Dow Jones Top Energy Headlines at 11 AM ET: Oil Prices Supported by Geopolitical Tensions | Be ...

Saudi Arabia is set to reduce the February price for its benchmark Arab Light crude for Asian customers for the third consecutive month, reflecting a trend of declining spot market prices due to abundant supplies. The official selling price is expected to fall by 10 to 30 cents per barrel, with the premium set at 30 to 50 cents above Oman/Dubai benchmark quotes. In contrast, prices for heavier grades may remain stable or see minor adjustments. The decline is attributed to increased global crude supply from OPEC+ and non-OPEC sources, leading to excess supply relative to demand.

Invezz

Saudi Arabia set to cut February crude prices for Asia amid supply glut

Oil prices fell over $1 per barrel due to concerns of a global supply glut and hopes for a Ukraine peace deal. Brent crude dropped 1.65% to $61.21, while WTI fell 1.8% to $57.30. Rising crude output and geopolitical factors are influencing prices. Investors are watching the Russia-Ukraine peace process, which could impact future oil prices. The global oil supply is expected to exceed demand by 3.84 million barrels per day next year.

Oil falls $1 on looming supply glut, hopes for Ukraine peace deal

Oil prices remained stable as investors considered potential supply risks due to geopolitical tensions. This follows U.S. airstrikes against Islamic State militants in Nigeria and increased economic pressure on Venezuelan oil. Brent crude futures slightly decreased by 16 cents to $62.08.

Oil price steady as market mulls potential supply risks

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XI Ernan CO rose by 3.3%, closing at HKD 8.585, becoming the top performer among the five largest ETFs. Other ETFs include: XL Ernan Samsung rose by 2.9%, closing at HKD 23.92; XI Ernan Fang Hengke rose by 2.9%, closing at HKD 1.286; XL Ernan Strategy rose by 2.8%, closing at HKD 45.88; FGX OIL rose by 2.3%, closing at HKD 4.612