Gold price advances during the North American session on Friday as the US Dollar weakens, with traders booking profits ahead of the weekend. Additionally, a Fed Governor's comments turned more dovish than expected, supporting a rate cut in July. At the time of writing, the XAU/USD trades at $3,353, up 0.43%. The market mood is upbeat after the University of Michigan (UoM) revealed that Americans have become optimistic about the economy and expect inflation to edge lower. Recently, Fed Governor Christopher Waller suggested that the central bank should cut interest rates at the upcoming...
The Hang Seng fell 49 points, or 0.24%, to close at 20,041 on Monday, following a lackluster performance in the previous session. Losses were led by the technology, property and consumer discretionary sectors as traders remained cautious ahead of China's official December PMI data, due for release on Tuesday. China's economic recovery remained uneven in November, with factory activity expanding for a second month while the services sector stagnated. Meanwhile, US futures plunged as Wall Street prepared for the final trading week of 2024, amid rising US Treasury yields and concerns over the...
The Nikkei stock index on Monday expanded 19 percent from a year earlier, ending at its highest level on record on the back of solid company earnings and a weaker yen boosting export-oriented issues. Stocks fell on the final trading day of the year, however, with the 225-issue Nikkei Stock Average ending down 386.62 points, or 0.96 percent, from Friday at 39,894.54. The broader Topix index finished 16.76 points, or 0.60 percent, lower at 2,784.92. Japanese financial markets will be closed from Tuesday through Sunday for the New Year holidays. Source : mainichi.jp
The Hang Seng Index opened 0.1% lower, dropping 21.74 to 20,068.72, as stocks lose for the second straight day in Hong Kong. Meituan contributed the most to the index decline, decreasing 0.7%. Lenovo Group Ltd. had the largest drop, falling 3.0%. In early trading, 43 of 83 shares fell, while 35 rose; 2 of 4 sectors were lower, led by commerce and industry stocks. Source : Bloomberg
Japanese stocks fluctuate between gains and losses on the last trading session of the year in Tokyo as higher US yields supported banks, while a slump on Wall Street weighed on exporters. Topix rose 0.1% to 2,803.91 as of 9:30 a.m. Tokyo time Nikkei 225 declined 0.3% to 40,141.08 Mitsubishi UFJ Financial Group contributed the most to the Topix's gain, increasing 1.4%. Out of 2,124 stocks in the benchmark index, 1,231 rose and 730 fell, while 163 were unchanged. "US stocks are falling, led by technology stocks, due to profit-taking after the large annual gains and the...
Dow drops 500 points, Big Tech stocks drag Nasdaq down 2%Stocks declined on Friday, led by technology names, with the Dow Jones Industrial Average erasing earlier gains in the holiday-shortened week. The blue-chip Dow shed more than 500 points, falling for the first time in six sessions. The S&P 500 fell 1.6% with all 11 sectors in the red. The Nasdaq Composite slid 2.2% as Tesla dropped 5%, and Nvidia declined more than 3%. Amazon, Microsoft and Alphabet each fell at least 2%. With Friday's sell-off, the Dow turned negative on the week, while the tech-heavy Nasdaq sat near flat. The...
US stocks pulled back on Friday as markets assessed how the corporate sector will fare against a longer period of high interest rates and potential tariffs against the EU and China. The S&P 500 and the Dow were each 0.7% lower and the Nasdaq 100 lost nearly 1%, tracking another session of sharp selling for US Treasuries. The Magnificent 7 continued to trade in volatile fashion as Meta, Amazon, and Tesla lost between 2% and 0.7%. The view of a resilient US economy added to the fallout of hawkish projections by the FOMC as rate futures showed that a large portion of the market only sees...
The Hang Seng Index closed almost flat at 20,096 on Friday (12/27) after rising in the previous two sessions, with gains in the technology, property and consumer discretionary sectors offsetting losses in the financial sector. Traders digested a report that the World Bank raised its forecast for China's economic growth to 4.9% in 2024 and 4.5% in 2025 but warned of challenges such as weak demand, weak consumer sentiment and high local government debt. Meanwhile, the latest data showed that China's industrial profits fell 4.7% year-on-year in the first 11 months of this year, sharply higher...
European stocks traded lower on Friday as markets resumed trading after the Christmas holiday. The Stoxx 50 and Stoxx 600 each fell 0.1%, with most sectors and major bourses in negative territory. This followed a shortened session at the start of the week due to Christmas Eve, with many traders still away for the holiday season. As 2024 winds down, attention turns to the final trading days, New Year's Day on Tuesday, and the outlook for monetary policy from the European Central Bank and the Federal Reserve. Market watchers are also watching for potential tariff changes under U.S....
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....