Wall Street's main indexes opened higher on Monday after a sharp pullback in the previous session, as markets priced in prospects of deeper rate cuts by the Federal Reserve following a surprisingly soft jobs report. The Dow Jones Industrial Average (.DJI), opens new tab rose 135.4 points, or 0.31%, at the open to 43724.02. The S&P 500 (.SPX), opens new tab rose 33.7 points, or 0.54%, to 6271.71, while the Nasdaq Composite (.IXIC), opens new tab rose 203.8 points, or 0.99%, to 20853.907. Source: Reuters
The dollar gained some ground on Tuesday after weakening the previous day as President Donald Trump hinted the U.S. could impose tariffs on Canada and Mexico as early as Feb. 1, challenging suggestions his trade policy might be more gradual. Trump told reporters his team was considering tariffs of around 25%, but gave no further details. He also floated the idea of universal tariffs, but said the U.S. was not ready for them. The dollar fell sharply on Monday after Trump's first day in office did not include specific plans for tariffs and officials suggested new taxes would be imposed in...
West Texas Intermediate (WTI) oil prices ended a three-day losing streak, holding steady near $76.20 during European trading hours on Tuesday (1/21). The crude oil market experienced significant volatility as traders assessed a series of executive orders issued by U.S. President Donald Trump shortly after his inauguration. One of the major moves included a plan to impose a 25% tariff on imports from Canada and Mexico starting Feb. 1, disappointing investors who had expected a delay in its implementation. Crude oil prices gained momentum as the proposed tariffs on Canadian crude imports were...
Gold prices rose in Asian trade on Tuesday (1/21) as the dollar weakened sharply overnight, while traders tried to gauge US President Donald Trump's policies after his inauguration. Spot gold prices rose 0.3% to $2,727.39 an ounce, while February gold futures rose 0.4% to $2,743.57 an ounce by 1:28 p.m. ET (06:28 GMT). Gold traders are bracing for increased volatility as Trump begins his second term, with his anticipated policy announcements expected to influence market dynamics. The precious metal, traditionally seen as a safe-haven asset, has held above a one-month peak. Current market...
Here's What You Need to Know on Tuesday, January 21: After falling sharply on the first trading day of the week, the US Dollar Index (USD) benefited from deteriorating risk sentiment and gathered bullish momentum on Tuesday (1/21). The European economic docket will feature the ZEW Survey data – Economic Sentiment for Germany and the Eurozone. Later in the day, December Consumer Price Index (CPI) data from Canada will be closely watched by investors. During the early trading hours of the American session on Monday, reports of US President Donald Trump refraining from announcing first-day...
Gold prices rose above $2,720 an ounce on Tuesday (1/21), extending gains from the previous session as investors remained focused on the potential impact of U.S. President Donald Trump's policies during his second term. Trump said he may impose 25% tariffs on Mexico and Canada starting early next month, although he did not provide a timetable for China tariffs. Those tariffs, if enacted, could trigger a trade war, boosting demand for safe haven assets like bullion. At the same time, investors are weighing inflation risks, as Trump's agenda of tax cuts and increased government spending could...