Silver climbed above $61 per ounce, extending a record rally as markets digested the Fed's 25 basis point cut and parsed Chair Powell's remarks which markets read as relatively dovish even as committee guidance remained cautious. The cut itself was largely priced in, but Powell's comments and a softer dollar lowered the opportunity cost of holding metal. At the same time the physical market has tightened materially which amplifies the policy impulse. ETF inflows and spot buying have surged this year and funds added large tonnes last week, while official and retail demand in Asia and India...
The S&P 500 plunged and interest rates jumped on Wednesday after consumer prices rose more than expected in January, raising concerns that inflation could return. The broad market index slipped 0.27% to end at 6,051.97, and the Dow Jones Industrial Average dropped 225.09 points, or 0.5%, to 44,368.56. The Nasdaq Composite gained a modest 0.03% to close at 19,649.95. "The higher-than-expected CPI confirms investor concerns about inflation being too high that will keep the Fed on the sidelines," said Sameer Samana, head of global equities and real assets at Wells Fargo Investment...
Stocks in the US were sharply lower on Wednesday, with the three major averages tumbling nearly 1% after the US CPI report showed rising inflationary pressures and stalled progress in curbing inflation. All measures came above forecasts with the headline inflation unexpectedly rising to 3% and the core one increasing to 3.3%. At the monthly level, the CPI also rose 0.5%, the most since August 2023. Figures reinforced the Fed's cautious approach on further rate cuts. Traders are now only pricing in a 25 bps reduction in the fed funds rate for December. All sectors traded in the red, with...
The Hang Seng climbed 563 points or 2.7% to close at 21,858 on Wednesday, rebounding from the prior session's losses and reaching its highest level since early October amid sustained AI-driven enthusiasm. A solid rise in mainland markets also lifted sentiment, with their tech sector outperforming the Nasdaq 100 and entering a bull market over the past month. A slight pullback in US futures tempered further gains, ahead of US key inflation data later today and as Fed Chair Powell will testify before the House Committee on Financial Service. All sectors posted strong gains, as property,...
European markets opened higher Wednesday as global markets await the latest inflation reading out of the U.S. The pan-European Stoxx 600 was up 0.14% in opening trade, with all major bourses and almost all sectors in the green. Food and beverage stocks led gains, up 1.06%, while oil and gas stocks fell 0.62%. Global market focus is on the latest U.S. consumer price index report for January that will be published on Wednesday. Headline inflation is expected to have grown 0.3% from the prior month and 2.9% from 12 months earlier, according to Dow Jones. Some economists on Wall Street have...
Japan stocks were higher after the close on Wednesday, as gains in the Shipbuilding, Paper & Pulp and Non-Metal Minerals sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 0.47%. The best performers of the session on the Nikkei 225 were M3 Inc (TYO:2413), which rose 19.27% or 268.00 points to trade at 1,659.00 at the close. Meanwhile, Fujikura Ltd. (TYO:5803) added 10.35% or 691.00 points to end at 7,366.00 and Taiheiyo Cement Corp. (TYO:5233) was up 9.89% or 381.00 points to 4,235.00 in late trade. The worst performers of the session were Kuraray Co., Ltd....
European markets are heading for a positive open Wednesday as global markets await the latest inflation reading out of the U.S. The U.K.'s FTSE 100 index is expected to open 4 points higher at 8,785, Germany's DAX up 75 points at 22,104, France's CAC up 12 points at 8,042 and Italy's FTSE MIB 102 points higher at 37,798, according to data from IG. Global market focus is on the latest U.S. consumer price index report for January that will be published on Wednesday. Headline inflation is expected to have grown 0.3% from the prior month and 2.9% from 12 months earlier, according to Dow...
Asia-Pacific markets mostly rose Wednesday as investors digested U.S. President Donald Trump's tariff impact on regional economies. U.S. Federal Reserve Chair Jerome Powell, meanwhile, re-emphasized on Tuesday the central bank's focus on curbing inflation and signaled that policymakers were not in a rush to push interest rates lower. Australia's S&P/ASX 200 traded up 0.31%. Japan's Nikkei 225 rose 0.21% after resuming trading following a holiday, while the Topix slid 0.22%. South Korea's Kospi added 0.29% and the small-cap Kosdaq lost 0.36%.Hong Kong's Hang Seng Index rose 2.05% while...
Shares in Hong Kong soared 394 points or 1.8% to 21,685 in early trade on Wednesday, swinging from a 1.0% fall in the previous session amid solid gains across sectors. The Hang Seng touched its highest level in four months following a pledge from China's cabinet to spur spending and lure foreign investment ahead of an annual legislative gathering in March. In the US, Fed Chair Powell told Congress on Tuesday that the central bank is in no rush to cut borrowing costs and that it would be unwise to speculate on tariff policy at this time. Capping further gains was news that US President Trump...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
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....