Silver climbed above $48.3 per ounce on Monday, its highest level since April 2011, as the ongoing US government shutdown and expectations of further Federal Reserve rate cuts boosted demand for safe-haven assets. Lawmakers once again failed to secure a funding deal, halting key federal programs and delaying major data releases, including September's jobs report originally scheduled for Friday. Markets are now nearly fully pricing in a quarter-point Fed rate cut this month and another in December. Investors also await remarks from Fed Governor Stephen Miran on Wednesday and Chair Jerome...
Wall Street's main indexes opened lower on Monday as tariff tensions kept investors on edge, while Tesla shares slid after CEO Elon Musk announced his plans to launch a political party. The Dow Jones Industrial Average fell 25.2 points, or 0.06%, at the open to 44,803.36. The S&P 500 fell 20.3 points, or 0.32%, at the open to 6,259.04, while the Nasdaq Composite dropped 110.6 points, or 0.54%, to 20,490.55 at the opening bell. Source: Reuters
The Hang Seng fell 28 points or 0.12% to close at 23,888 on Monday, marking its third session of losses, weighed by falls in consumer and financial stocks. Cautious investors digested a fresh warning from U.S. President Trump that BRICS countries could face an additional 10% tariff. Traders also grew cautious ahead of China's June CPI and PPI data, due later this week, after four months of falling consumer prices in May and the steepest producer deflation in nearly two years. Losses were trimmed as China, one of the BRICS members, is unlikely to be hit by new levies due to a trade truce...
European stocks were little changed on Monday, with the STOXX 50 holding near 5,300 and the STOXX 600 flat at 541, as investors assessed new developments in US trade policy. President Trump is expected to send about a dozen formal tariff warning letters later today, although it was unclear whether EU countries would be included, while saying there would be an additional 10% levy on countries that side with the BRICS bloc. Meanwhile, Trade Secretary Howard Lutnick confirmed that a broader package of tariffs, originally set for a July 9 launch, will now be delayed until August 1. Oil-related...
Japanese stocks fell in tense trading after U.S. President Donald Trump said tariff letters would begin to be sent out at noon Monday. Trump also said he would impose an additional 10% tariff on any country that aligns with the "anti-American BRICS policies." The Topix index fell 0.6% to 2,811.72 at the close in Tokyo. The Nikkei fell 0.6% to 39,587.68. Mitsubishi UFJ Financial Group Inc. was the biggest contributor to the Topix decline, down 2.3%. Exporters including electrical equipment and transportation equipment fell, while financials also fell amid economic uncertainty. Japan's...
The Hang Seng Index opened lower by 87 points or 0.36%, settling at 23,828 points; the H-share index fell by 32 points or 0.37%, reaching 8,576 points; while the technology index dropped by 23 points or 0.45%, closing at 5,192 points. Tech stocks exhibited a general softening trend, with Tencent down by 0.3%, Alibaba by 1%, Meituan by 1.1%, Xiaomi Group by 1%, and Kuaishou up by 0.9%. In the financial sector, stocks trended downwards, with HSBC Holdings showing no change; AIA Group declining by 0.7%; Ping An Insurance falling by 0.4%; and Hong Kong Exchanges and Clearing dropping by...
European equities turned red as investors began taking on board the risk of U.S. tariffs being snapped back on again. The Stoxx Europe 600 index fell by 0.5%. Regionally, while the U.K.'s FTSE 100 was flat, France's CAC 40 and Germany's DAX ended 0.8% and 0.6% lower, respectively. The British pound also gave up some of the gains from earlier in the session as one Bank of England official called for a more aggressive schedule of interest rate cuts this year. The head of pan-Scandinavian airline SAS told CNBC that European airline consolidation "needed a second phase," after Air France-KLM...
The Hang Seng lost 154 points or 0.6% to close at 23,916 on Friday, marking the second straight session of losses amid broad-based sector declines. The benchmark dropped 1.5% for the week, reversing gains from the prior period as investors grew cautious ahead of U.S. President Trump's July 9 tariff deadline. Adding pressure, China's commerce ministry finalized its EU brandy investigation, imposing tariffs of up to 34.9% for five years starting July 5. Market participants also eyed key Chinese data due next week—including June CPI and PPI amid lingering deflation risks. U.S. markets were...
Europe's stock markets are in the red across the board at the open, with the regional Stoxx 600 index down 0.4%, the U.K.'s FTSE 100 down 0.32%, Germany's DAX down 0.29% and France's CAC 40 down 0.72%. French drinks sellers are taking an early hit, with Pernod Ricard down 3.3%, Remy Cointreau down 4.5% and luxury giant LVMH down 2.1%, as news breaks that China's commerce ministry has issued a final ruling on its probe into European Union brandy. The investigation ruled that the bloc has engaged in dumping of the spirit, according to a Google translation of a ministry relief. According to...
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....