Gold continues to be supported by expectations of dovish monetary policy from the Federal Reserve, economic uncertainty, and geopolitical tensions, said ActivTrades analyst Ricardo Evangelista. Although non-farm payrolls increased by 64,000 jobs, the US unemployment rate rose to 4.6% in November, its highest level since September 2021. The market is awaiting key US inflation data this week, with the Consumer Price Index due on Thursday and Personal Consumption Expenditures on Friday. Last week, the Federal Reserve delivered its third and final quarter-point interest rate cut of the year,...
Stocks fell again on Thursday, bogged down by a further pullback in Oracle and Nvidia, as well as a jump in rates. The S&P 500 dropped 0.6%, while the Nasdaq Composite lost 0.9%. The Dow Jones Industrial Average shed 116 points, or 0.3%. Oracle and Nvidia saw more losses in the premarket, sliding nearly 4% and 1%, respectively. The two were on track to fall for a third straight day as questions over the state of the artificial intelligence trade lingered. The market action appears to be reflecting concerns about record-high valuations and potentially risky circular relationships in the...
The Hang Seng slipped 34 points, or 0.13%, to close at 26,485 on Thursday, swinging from a rally in the previous session and following a subdued morning trade. A retreat from record highs on Wall Street Wednesday rattled sentiment, ahead of the U.S. PCE Index, the Fed's preferred inflation gauge. Investors also turned cautious before China's National Day and mid-autumn holidays next week. Losses in property and financial shares weighed on the benchmark index, mirroring weakness in mainland stocks despite the central bank's action to conduct a CNY 600-billion one-year MLF operation to...
European stocks slipped into the red on Thursday, with both the STOXX 50 and STOXX 600 down 0.6%, following a subdued session the day before. Market sentiment turned cautious as traders weighed the monetary policy outlook—particularly from the Federal Reserve—amid a series of scheduled speeches from officials today. Economic data offered little support. Germany's GfK survey showed consumer confidence remains weak, while French figures also disappointed. In contrast, EU passenger car registrations rose in August. Sector performance was mixed. Healthcare led losses, with Siemens Healthineers...
The Nikkei 225 climbed 0.27% to 45,755 while the Topix added 0.47% to 3,185 on Thursday, marking a third straight day of gains as investors brushed off a tech-driven selloff on Wall Street. US equities fell for a second session overnight on concerns about record-high valuations, complex interdependencies in the AI sector and uncertainty over the Federal Reserve's policy path. Domestically, minutes from the Bank of Japan's July meeting indicated policymakers remain inclined to raise rates further if economic and price conditions evolve as expected. Investors now await Friday's Tokyo...
The Hang Seng Index started the day with a marginal increase of 17 points or 0.06%, reaching 26,536 points. Concurrently, the H-share index dropped by 5 points or 0.05%, standing at 9,437 points, while the technology index saw a decline of 8 points or 0.13%, closing at 6,314 points. In the tech sector, stock movements were varied: Tencent rose by 0.3%, Alibaba remained unchanged, Meituan dropped by 0.5%, Xiaomi Group remained stable, JD.com rose by 1.8%, and Kuaishou saw a decrease of 1%. Individual developments were observed in financial stocks, with HSBC Holdings rising by 0.3%, AIA...
The Nikkei 225 weakened 0.1% to 45,600, while the Topix gained 0.2% to 3,177 on Thursday, as Japanese equities lacked a clear direction due to pressure on technology stocks. This followed two consecutive days of declines in major US indexes, driven by concerns over record-high valuations and complex interdependencies in the AI sector. Domestically, minutes of the Bank of Japan's July meeting suggested that policymakers remain inclined to raise interest rates further if economic and price conditions develop as expected. Investors are now eyeing Friday's Tokyo inflation data, a key...
Asian stocks traded in a tight range at the open after losses on Wall Street as signs of fatigue crept into the AI-fueled equity rally. Shares in Japan and Australia edged up while those in South Korea retreated. The S&P 500, Nasdaq 100 and a gauge of global stocks each dropped 0.3% Wednesday, extending declines from the prior day. An index of US-listed Chinese companies rallied against the downcast mood on Wall Street to climb 2.8%. Equity-index futures for Hong Kong retreated as the city returns to normalcy after Super Typhoon Ragasa....
US stocks weakened for a second straight day on Wednesday as investors weighed pressure on AI leaders, mixed signals from the Federal Reserve, and profit-taking near record highs. The S&P 500 fell 0.3%, the Nasdaq 100 and the Dow Jones Industrial Average each fell 0.4%, extending Tuesday's decline that ended a three-day winning streak. Nvidia fell nearly 1% after announcing a $100 billion partnership with OpenAI, while Oracle fell 1.7% and Micron Technology slumped 2.9% despite posting higher-than-expected earnings. Conversely, Alibaba's pledge to increase AI spending beyond its initial...
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....