Stocks rose Wednesday, adding to their recent momentum as expectations for lower U.S. Federal Reserve rates continue driving the major indexes to all-time highs. The S&P 500 and Nasdaq Composite advanced 0.4% and 0.5%, respectively, reaching fresh record highs. The Dow Jones Industrial Average gained 1250 points, or 0.6%. AMD popped more than 5% to lead gains in tech. Apple also advanced about 1%, along with Oracle. Those moves followed a record-setting session Tuesday sparked by a tamer-than-expected inflation report that gave investors hope of a Fed rate cut in September. Traders...
Silver remained around $31.20 per ounce on Friday and was on track to lose nearly 4% for the week, pressured by demand uncertainties, strong supply, and some profit-taking. A stronger dollar also weighed on silver prices after US President Donald Trump confirmed on Thursday that his proposed 25% tariffs on Mexico and Canada would take effect on March 4, alongside an additional 10% duty on Chinese imports. Hecla Mining Company, the largest silver producer in the US, reported a 13% increase in silver output for 2024, mining 16.2 million ounces (moz), marking the second-highest production level...
Gold price (XAU/USD) maintains its offered tone through the early European session on Friday and is currently trading around the $2,864-2,863 region, just above a two-week low. The US Dollar (USD) is prolonging this week's recovery move from over a two-month low amid bets that the Federal Reserve (Fed) would stick to its hawkish stance amid still-elevated inflation. This, in turn, is seen as a key factor exerting pressure on the commodity for the second successive day. The down leg could further be attributed to repositioning trade ahead of the US Personal Consumption Expenditure (PCE)...
GBP/USD pair extends its downside to near 1.2580 during the early European session on Friday. Tariff uncertainty from US President Donald Trump undermines the Pound Sterling (GBP) against the US Dollar (USD). The US Personal Consumption Expenditures (PCE) Price Index for January will be the highlight later on Friday. Trump met with UK Prime Minister Keir Starmer late Thursday, and President Trump was quick to announce that there might be trade tariffs imposed on the UK as well unless ambiguous terms of a trade deal with the US are agreed upon within an undetermined deadline. Investors will...
Gold price (XAU/USD) attracts some follow-through selling for the second successive day and drops to over a two-week trough, around the $2,860 region during the Asian session on Friday. Bets that the Federal Reserve (Fed) would stick to its hawkish stance on the back of still-elevated inflation assist the US Dollar (USD) to prolong this week's recovery move from the lowest level since December 10. This turns out to be a key factor driving flows away from the non-yielding yellow metal. Apart from this, the intraday slide could further be attributed to some repositioning trade ahead of the...
Oil prices eased on Friday, heading for their first monthly drop since November, as uncertainty over global economic growth and fuel demand from Washington's tariff threats and further signs of a U.S. economic slowdown outweighed supply concerns. The more active May Brent crude futures slipped 31 cents, or 0.4%, to $73.26 a barrel by 0348 GMT, while U.S. West Texas Intermediate crude futures were at $70.04 a barrel, down 31 cents, or 0.4%. Front-month Brent that expires later on Friday traded at $73.69, down 35 cents, or 0.5%. Both benchmarks are on track to post their first monthly...