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...
U.S. stocks edged higher on Wednesday as the market digested weak economic data while keeping an eye on trade developments. The S&P 500 rose 0.1%, the Nasdaq gained 0.4%, and the Dow gained about 50 points, extending gains for a third straight session. Tech stocks continued to provide support, although enthusiasm was tempered by disappointing labor market data. Nvidia rose 3%, surpassing Microsoft and becoming the world's most valuable public company once again. Private sector hiring rose just 37,000 in May, the weakest in more than two years, and the ISM services index fell to 49.9,...
The European stock markets closed higher in Wednesday trading as the Stoxx Europe 600 gained 0.49%, Germany's DAX was up 0.8%, the FTSE 100 increased 0.14%, France's CAC 40 advanced 0.53%, and the Swiss Market Index rose 0.47%. The European Commission adopted a new water resilience strategy aiming to secure clean, affordable water, restore the water cycle and foster a sustainable water economy. The commission said that the strategy consists of over 30 actions to tackle climate impacts and boost competitiveness. Euro area bank interest rates generally declined in April, with composite costs...
U.S. stocks inched up in choppy trading on Wednesday after weaker-than-expected private payrolls data deepened concerns about the Trump administration's erratic trade policies pressuring the labor market. The Dow Jones Industrial Average (.DJI), opens new tab rose 54.5 points, or 0.13%, at the open to 42,574.13. The S&P 500 (.SPX), opens new tab rose 8.6 points, or 0.14%, at the open to 5,978.94, while the Nasdaq Composite (.IXIC), opens new tab rose 36.0 points, or 0.19%, to 19,434.94 at the opening bell. Source: Reuters
The Hang Seng rose 141 points or 0.6% to close at 23,654 on Wednesday, marking a second straight day of gains amid optimism that an upcoming call between U.S. President Trump and China's Xi Jinping could ease trade tensions. The deadline also loomed for U.S. trading partners to submit proposals to avoid steep tariffs set to take effect in five weeks. Hong Kong's healthcare index led sector gains, up around 3% as investors bet on earnings growth from innovative drug makers. Innovent Biologics surged 13.8%, followed by CSPC Pharma (2.8%), Hansoh Pharma (2.6%), and Wuxi Biologics (1.6%)....
European shares inched up on Wednesday on gains in Airbus shares, while sentiment remained cautious ahead of a deadline for U.S. trading partners to make their "best offers" and as the U.S. levies on steel and aluminium imports kick in. Airbus SE (OTC:EADSY) shares rose 3.4% after Bloomberg News reported Chinese airlines are considering ordering hundreds of aircraft as soon as next month. The pan-European STOXX 600 rose 0.3% by 0707 GMT, having rallied about 15% from its early April lows as U.S. President Donald Trump paused sweeping tariffs and struck a trade agreement with the...
Japan stocks were higher after the close on Wednesday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 0.78%. The best performers of the session on the Nikkei 225 were Furukawa Electric Co., Ltd. (TYO:5801), which rose 6.31% or 428.00 points to trade at 7,206.00 at the close. Meanwhile, Tokuyama Corp. (TYO:4043) added 6.01% or 170.00 points to end at 2,998.00 and Shiseido Co., Ltd. (TYO:4911) was up 5.94% or 137.00 points to 2,441.50 in late trade. The worst performers of the session were Yamato Holdings Co., Ltd....
(Hong Kong) The Hang Seng Index initially opened lower by 12 points at 23,499 before showing a repeated positive trend, currently up by 168 points or 0.71% at 23,680. Meanwhile, the H-share index has risen by 68 points or 0.8% to 8,588, and the technology index has climbed by 40 points or 0.77% to reach 5,229. Market turnover stands at 38.2 billion Hong Kong dollars.As of 9.56am, the Hang Seng index was trading at 23,637.78, up by 125.29 points or 0.53% today on June 4th. In the tech sector, Tencent saw a 1.4% increase, Alibaba rose by 0.5%, Meituan surged by 1.7%, Xiaomi Group gained 2%,...
The Nikkei 225 Index jumped 1% to around 37,800 while the broader Topix Index gained 0.5% to 2,785 on Wednesday, snapping a three-day losing streak as gains on Wall Street fueled investor optimism. The upbeat sentiment followed a tech-driven rally in the US, where Nvidia surged nearly 3% to reclaim its title as the world's most valuable publicly traded company, overtaking Microsoft. Back in Japan, Bank of Japan Governor Kazuo Ueda reiterated the central bank's readiness to raise interest rates if economic and inflation projections are met, reinforcing expectations of a cautious shift toward...
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....