U.S. stocks finish higher but post weekly losses. The S&P 500 index SPX, +0.08% rose 2.06 points to 2,718.37. The Nasdaq Composite Index COMP, +0.09% climbed 6.62 points to 7,510.30. The Dow Jones Industrial Average DJIA, +0.23% added 55.36 points, or 0.2%, to 24,271.41. The blue-chip index was up more than 200 points during the session but surrendered most of its gains.

Oil Gains on Anticipation of Sanctions on Iran. Oil prices rose on Friday, rallying on concerns that U.S. sanctions against Iran would remove a substantial volume of crude oil from world markets at a time of rising global demand. U.S. crude was up more than 8 percent on the week, while Brent crude gained more than 5 percent.

Saudi king said will boost oil output if needed. The leader of Saudi Arabia promised President Donald Trump that he can raise oil production if needed and the country has 2 million barrels per day of spare capacity, the White House said on Saturday, rowing back on an earlier Trump tweet that appeared to suggest the Saudis had agreed to boost output by that amount.

Trump's trade war arrives in the data as China awaits tariffs. Purchasing manager index readings for June released on Saturday showed a gauge of export orders tumbling into contraction, the clearest sign yet that the oncoming trade war is having a real, negative impact on growth.

China Aviation Oil buys UK-based jet fuel outfit for US$8m. CAO said on Friday that it has completed the acquisition of Navires Aviation for a consideration of about US$8 million from Castleton Commodities Merchant Trading LP.

CapitaLand Commercial Trust sells Twenty Anson for S$516m. The sale price, arrived at through a bidding process, works out to S$2,503 per square foot of the building’s net lettable area of approximately 206,000 sq ft. The sale consideration translates to a net property yield of 2.7 per cent based on Twenty Anson’s net property income of S$13.8million for the 12 months preceding March 31, 2018.

SMRT Trains posts loss of $86m in FY2018. Reliability on two of SMRT's rail lines is improving, but higher maintenance costs and falling ridership are hitting the company's train business.

Source: CNBC, Bloomberg, Reuters, Business Times, Phillip Securities Research