US stocks closed higher on Friday, with the S&P 500 up 0.8%, and the Nasdaq climbing nearly 1%, while the Dow gaining 206 points. Technology shares, led by Apple which surged 4.2% following its announcement of a $600 billion US investment plan helped lift the tech-heavy Nasdaq to new intraday highs. Investor optimism was also fueled by expectations of Federal Reserve rate cuts, with President Trump nominating Stephen Miran to the Fed Board, signaling possible shifts in monetary policy, despite concerns over new tariffs imposed by the Trump administration on imports from multiple...
Gold edges lower in early Asian trade as traders weigh continued signs of strength in the U.S. economy against policy uncertainties that have fueled a surge in demand for the haven metal. "Trump's policies have proven to create an environment of strength," says Raddington Group CEO Yassin K. Fawaz. With inflation still above the Fed's target and the economy on solid footing, many now think interest rates will stay high for a while, dampening the appeal of non-interest-bearing assets like gold, he says. That said, Trump's approach to international relations and tough stance on trade is also...
The euro is set to end Tuesday's session (2/18) with a loss of more than 0.30% against the greenback as the S&P 500 hit a record high during the North American session. At the time of writing, EUR/USD is trading at 1.0445 below its opening price. Risk appetite has improved, but US President Donald Trump reiterated that he will impose a 25% tariff on imported cars. He added that he will announce major companies that will return to the United States, related to chips and cars. EUR/USD has recovered over the past few weeks amid progress in peace talks related to the Ukraine-Russia...
Oil prices rose on Tuesday as traders assessed the impact of a drone attack on Kazakhstan's main oil export route, while talks to end the war in Ukraine kept traders cautious as they could boost Russian supplies. Brent crude futures rose 61 cents to $75.83 a barrel by 1:38 p.m. EST, while U.S. West Texas Intermediate crude rose $1.10, or 1.6%, to $71.84 a barrel, tracking gains Brent posted on Monday, when the U.S. contract traded without settlement due to a holiday. Brent rose 48 cents in the previous session after Ukrainian drones attacked a pumping station in Russia on the Caspian...
Gold rose above $2,930 an ounce on Tuesday, marking a second session of gains and approaching a record high of $2,940 hit last week as uncertainty over U.S. tariffs continued to fuel demand for the safe-haven asset. Since taking office, Trump has imposed 10% tariffs on Chinese imports, announced but then delayed 25% tariffs on Mexican goods and non-energy imports from Canada, scheduled 25% tariffs on imported steel and aluminum, and is preparing reciprocal tariffs on any country that taxes U.S. imports. However, hawkish remarks from Federal Reserve officials capped further gains. Fed...
The U.S. dollar strengthened on Monday, as investors assessed key negotiations between U.S. and Russia on a deal to end the war in Ukraine and lingering tariff concerns, as well as an interest rate reduction by Australia's central bank. By 07:41 EST (12:41 GMT), the U.S. dollar index, which measures the greenback against a basket of major currencies, rose 0.4% to 106.99. The index declined more than 1% last week. The euro was 0.3% lower at $1.05, while sterling also eased 0.3% to $1.26. Officials from the U.S. and Russia are holding crucial talks in Saudi Arabia on a potential agreement...