Gold (XAU/USD) holds firm on Wednesday, with price action contained inside the recent consolidation zone as markets brace for the Federal Reserve's (Fed) interest rate decision. At the time of writing, XAU/USD is hovering near $4,204, down from the intraday high of $4,218. The Fed will announce its policy decision at 19:00 GMT, with markets leaning toward another 25 basis point cut that would lower the Federal Funds Rate to the 3.50%-3.75% range. Expectations for reduced borrowing costs keep Bullion broadly supported, as lower interest rates reduce the opportunity cost of holding...
The S&P 500 and the Dow hovered at levels seen more than a week ago on Friday, as investors took comfort from data pointing to robust economic activity in the world's biggest economy. The domestically focused small-cap Russell 2000 index,outperformed large-cap indexes with a 1.3% rise. The index hit a more than one-week high and was set for weekly advances of nearly 4%. A measure of business activity raced to a 31-month high in November, boosted by hopes for lower interest rates and more business-friendly policies from President-elect Donald Trump's administration next year. At 11:29...
The pan-European Stoxx 600 was trading 0.6% higher at 8:45 a.m. in London, with nearly all sectors and major bourses in positive territory. Technology stocks led the gains, up 1.3%, while the European banking index fell 0.2%. The regional index snapped a four-session losing streak on Thursday and closed about 0.5% higher. Data released Friday showed Germany's economy grew a modest 0.1% in the third quarter from the previous three months — lower than a preliminary reading of 0.2% for the period. In the U.K., the pound fell to a six-month low against the U.S. dollar following data on U.K....
The Hang Seng fell 371 points, or 1.9%, to close at a nearly two-month low of 19,230 on Friday (11/22), marking a second session of losses amid weak corporate earnings and heightened concerns about China's recovery from potential U.S. tariffs with the return of Donald Trump to the presidency. For the week, the index disappointed by about 1%, its second straight decline, with all sectors suffering sharp losses, as markets in the mainland and tumbled about 3%. Technology stocks fell 2.6%, edging closer to a bear market, after e-commerce giant PDD Hlds. missed Q3 estimates. Meanwhile, search...
The Nikkei 225 index rose 0.7% to around 38,300, while the broader Topix index gained 0.6% to 2,699 on Friday, recovering some losses from the previous session as investors digested the latest Japanese consumer inflation data. The data revealed that Japan's headline inflation rate slowed to a nine-month low of 2.3% in October, while core inflation also fell to a six-month low of 2.3%, slightly above the 2.2% forecast. In addition, a separate report showed that manufacturing activity in Japan contracted more than expected in November, although service activity increased. Nearly all sectors...
Hong Kong stocks are headed for a weekly gain as investors await more clarity on stimulus measures from Beijing. The Hang Seng Index rose 0.2 per cent to 19,642.83 as of 10.02am local time, taking the gain to 1.1 per cent for the week. The Hang Seng Tech Index gained 0.7 per cent. Mainland's benchmarks declined. The CSI 300 Index and the Shanghai Composite Index both retreated 0.3 per cent. Source: SCMP
The Topix Index is rising 0.8% at 2,704.34 in Tokyo. In midday trading, electric appliances stocks led the market higher, as 30 of 33 sectors gained; 1,537 of 2,128 shares rose, while 453 fell. Recruit Holdings Co. contributed the most to the index gain, increasing 2.7%. Integrated Design & Engineering Holdings Co. had the largest increase, rising 20.5%. Source: Bloomberg
Asian equities rose Friday following gains on Wall Street as investors shook off initial concerns over Nvidia Corp.'s revenue outlook. Bitcoin edged closer to $100,000 while the dollar gained. Shares in Australia and Japan advanced. An index of US-listed Chinese stocks fell 1% Thursday, running against the grain of trading in New York but partly reflecting selling in Hong Kong stocks in their most recent session. The S&P 500 and Nasdaq 100 both rose Thursday. Nvidia ended higher and even touched a fresh intraday record in a sign investors...
The S&P 500 rose Thursday in choppy trading as investors poured into stocks poised to benefit from a booming economy, and shook off a decline in technology stocks led by Nvidia. The Dow Jones Industrial Average added 370 points, or 0.8%. The S&P 500 added 0.2%, and the Nasdaq pulled back 0.4%. The market gains were led by companies that would benefit from a accelerating economy, despite the overarching focus on market bellwether Nvidia's earnings report after the bell Wednesday. Some of Thursday's winners included bank stocks like JPMorgan and Goldman Sachs and retailer Home...
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....