Gold prices rose on Friday (July 18th), but were on track for a weekly decline as concerns about the US Federal Reserve's independence eased and strong US data emerged, while platinum rose to a nearly 11-year high. Spot gold rose 0.3% to $3,349.49 an ounce, as of 08:34 GMT, after falling 1.1% in the previous session. Bullion has fallen 0.2% so far this week. US gold futures fell 0.3% to $3,354.70. The US dollar, open a new tab, fell 0.4% for the day, but was headed for a second straight weekly gain. A stronger dollar tends to make gold more expensive for buyers holding other...
he Nasdaq and the S&P 500 rose to record closing highs on Friday following upbeat forecasts from Lululemon Athletica and other companies and as U.S. jobs data fueled expectations the Federal Reserve would cut interest rates this month. The Dow finished lower, as a drop in UnitedHealth Group (UNH.N), shares weighed on the index. The S&P 500 consumer discretionary index (.SPLRCD), led gains among sectors, boosted by Lululemon. Shares of Lululemon Athletica (LULU.O), jumped after the sportswear maker increased full-year forecasts. Also in the consumer discretionary space, shares of...
Wall Street's main indexes opened higher on Friday as traders increased bets on a Federal Reserve rate cut this month after the November payrolls report. The Dow Jones Industrial Average (.DJI), opens new tab rose 58.6 points, or 0.13%, at the open to 44,824.29. The S&P 500 (.SPX), opens new tab rose 6.3 points, or 0.10%, at the open to 6,081.38, while the Nasdaq Composite (.IXIC), opens new tab rose 43.2 points, or 0.22%, to 19,743.959 at the opening bell. Source: Reuters
The Hang Seng Index jumped 305 points, or 1.6%, to close at 19,866 on Friday (6/12) after a weak session the previous day, supported by strong gains across all sectors. The index rose 2.3% weekly, rising for a second straight period, amid hopes of fresh stimulus from a key policy meeting in China next week that could set economic targets for 2025. Traders eagerly added new positions after Beijing published draft rules on Thursday offering incentives for government agencies to buy Chinese-made products. Meanwhile, Goldman Sachs and Morgan Stanley said the PBoC will cut its main policy rate...
The Nikkei 225 index fell 0.77% to close at 39,091 while the broader Topix index dropped 0.55% to 2,727 on Friday, paring gains from earlier in the week and tracking losses on Wall Street overnight as a major rally in U.S. stocks lost momentum. Investors are also gearing up for the crucial U.S. monthly jobs report. In Japan, data showed that inflation-adjusted real wages were unchanged in October from a year earlier, up from a 0.4% decline in September and 0.8% in August. That supported expectations for a potential interest rate hike by the Bank of Japan this month, although uncertainty...
European equity markets are set for a lower open on Friday, as political turmoil in France dampened market sentiment. French President Emmanuel Macron delivered a speech criticizing politicians for failing to take voters' concerns into account, after a motion backed by both left- and right-leaning lawmakers led to the collapse of Prime Minister Michel Barnier's minority government. Investors also await the third reading of Eurozone GDP for the third quarter, alongside French trade figures and Italian retail sales data for October. Meanwhile, traders are bracing for a crucial U.S. jobs...
Hong Kong stocks jumped 233 points, or 1.2%, to 19,789 in early trade on Friday, bouncing back from a weak session the previous day amid optimism that China's central bank will ease monetary policy further next year to support growth and fight deflation. Goldman Sachs and Morgan Stanley expect the PBOC to cut its key policy rate by 40bps in 2025, the biggest rate cut in a decade. The Hang Seng is on track for a second straight weekly gain, up nearly 2% so far, buoyed by hopes of a positive outcome from the upcoming central economic work forum and Politburo meeting in China. However,...
The Nikkei 225 index fell 0.6% to below 39,200 while the broader Topix index fell 0.4% to 2,730 on Friday, paring gains from earlier in the week and tracking losses on Wall Street overnight as a major rally in U.S. stocks lost momentum. Investors are also gearing up for the crucial U.S. monthly jobs report. In Japan, data showed that inflation-adjusted real wages were unchanged in October from a year earlier, an improvement from a 0.4% decline in September and 0.8% in August. That supported expectations for a potential interest rate hike by the Bank of Japan this month, although...
Asia-Pacific markets open mostly lower Friday after Wall Street saw the Dow Jones Industrial Average drop more than 200 points and S&P 500 retreat from a record high. Traders in Asia assessed household spending data out of Japan. Spending grew 2.9% in October compared to the previous month, beating expectations of a 0.4% growth by economists polled by Reuters. Year-over-year, household spending fell 1.3% in October, less than an expected 2.6%. India's central bank will announce its interest rate decision Friday. The Reserve Bank of India is expected to hold its key policy rate at 6.50%...
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....