Wall Street's main indexes bounced back on Monday after a sharp pullback in the previous session, buoyed by growing expectations of deeper Federal Reserve interest rate cuts following an unexpectedly weak jobs report. At 11:39 a.m. ET, the Dow Jones Industrial Average rose 463.55 points, or 1.06%, to 44,052.13, the S&P 500 gained 74.56 points, or 1.20%, to 6,312.57 and the Nasdaq Composite gained 325.95 points, or 1.58%, to 20,976.08. Both the S&P 500 and the Nasdaq were on track for their biggest single-day jump in more than two months. This is in contrast to Friday, when a...
The dollar index was steady around 108.2 on Thursday after facing pressure earlier in the week, as investors awaited more clarity on President Donald Trump's policy plans. The index is down about 1% so far this week, following Trump's decision not to implement tariffs that have raised concerns about potential inflationary pressures. However, he has issued tariff threats against China, Mexico, Canada and the European Union in recent remarks. Investors are also focused on next week's Federal Reserve monetary policy meeting. The central bank is widely expected to keep interest rates unchanged...
The Australian dollar (AUD) held steady against the US dollar (USD) on Thursday (23/1), as market concerns eased after news that China-specific tariffs proposed under US President Donald Trump's revised plan were much smaller than previously expected. The development helped calm investor concerns, especially given the strong trade ties between China and Australia, which make the Australian market sensitive to changes in China's economic landscape. President Trump announced plans to impose 10% tariffs on Chinese imports from February 1, citing concerns over fentanyl shipments from China to...
Brent crude fell below $79 a barrel on Thursday, falling for a fifth straight session after an industry report revealed a fresh build in U.S. crude inventories. API data showed a 1 million-barrel increase in crude inventories last week, the first increase in five weeks of declines. Traders also continued to assess the potential impact on energy markets from President Trump's proposed tariffs on China, the European Union, Canada and Mexico, along with warnings of penalties for Russia if President Putin fails to end the Ukraine war. In other news, Saudi Arabia's crude exports hit an...
US benchmark West Texas Intermediate (WTI) crude oil prices traded around $75.00 on Thursday (1/23). WTI prices continued to fall to a one-week low as traders assessed how US President Donald Trump's proposed tariffs could impact energy demand and the global economy. On Monday, Trump said he was considering imposing 25% tariffs on Canada and Mexico while discussing imposing 10% tariffs on Chinese imports on February 1. The tariffs could potentially slow economic growth and drag the black gold lower. "The potential sanctions under the new Trump administration remain unclear, with potential...
Gold hits new 2025 highs amid rising investor anxiety from Trump's trade rhetoric.Despite a rise in the US Dollar Index, Gold's ascent signals strong safe-haven demand.Geopolitical tensions in the Middle East escalate, alongside potential US economic measures against Russia. Gold price advances over 0.39% late in the North American session, with the precious metal climbing decisively above the psychological $2,650 figure with buyers setting their sights at the record high of $2,790. At the time of writing, the XAU/SD trades at $2,755 after bouncing off daily lows of $2,741. The...