Gold prices hit another record high on Tuesday (December 7th), driven by strong investment demand amid widespread geopolitical and economic uncertainty, with additional support from expectations of further US interest rate cuts. Spot gold held at $3,959.82 per ounce at 11:11 GMT, after hitting an all-time high of $3,977.19 earlier in the session. US gold futures for December delivery rose 0.2% to $3,983.10. "Strong ETF demand remains key, driven by 'FOMO' and eroding confidence in traditional safe-haven assets," said Ole Hansen, head of commodity strategy at Saxo Bank, adding that...
Stocks in the US were higher on Friday, with the S&P 500 rising 0.4%, the Nasdaq adding 0.6% and the Dow Jones gaining about 110 points, as traders weighed signs of a potential de-escalation in global trade tensions. President Trump said an 80% tariff on China "seems right" ahead of trade talks led by Treasury Secretary Scott Bessent and Chinese counterparts in Switzerland this weekend. Earlier reports had suggested the tariff rate could be reduced to below 60%. Energy and consumer discretionary were the top performing sectors while consumer staples underperformed. Corporate earnings...
Both the STOXX 50 and the STOXX 600 rose 0.3% on Friday, extending gains from the previous session, as traders remained cautiously optimistic about the US-UK trade deal and looked ahead to US-China trade negotiations over the weekend. Oil and gas, autos, and healthcare were the best-performing sectors, while insurance lagged behind. Meanwhile, investors also monitored corporate earnings. Shares of Commerzbank edged up just 0.3%, despite the lender reporting a better-than-expected net profit in Q1. Mediobanca shares gained 1.5% following an earnings beat. For the week, both benchmark...
Japan stocks were higher after the close on Friday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 1.51% to hit a new 1-month high. The best performers of the session on the Nikkei 225 were NTT Data Corp. (TYO:9613), which rose 14.26% or 498.00 points to trade at 3,990.00 at the close. Meanwhile, Ajinomoto Co., Inc. (TYO:2802) added 7.40% or 223.00 points to end at 3,238.00 and Kao Corp. (TYO:4452) was up 6.40% or 387.00 points to 6,431.00 in late trade. The worst performers of the session were Mitsubishi Heavy...
Hong Kong shares rose 60 points, or 0.2%, to 22,841 on Friday morning, extending gains for a seventh straight session and holding around a one-month high. Positive sentiment from Wall Street overnight supported sentiment after US President Trump suggested tariffs on Chinese goods could be eased if upcoming trade talks in Switzerland go smoothly—the first formal negotiations between the US and China. Investors also cheered a major trade deal between the US and the UK. Financial and consumer stocks led gains, while property and technology stocks lagged. However, further gains were capped by...
The Nikkei 225 Index jumped 1.2% to above 37,300 while the broader Topix Index gained 0.9% to 2,720 on Friday, with Japanese shares hitting six-week highs, tracking a rally on Wall Street overnight as President Donald Trump unveiled a trade deal with the UK, the first since the US imposed sweeping tariffs last month. On the domestic front, investor sentiment was buoyed by data showing a stronger-than-expected rise in personal spending in March, signaling resilience in consumer demand. However, a continued decline in real wages—down for the third consecutive month—tempered optimism about the...
Stocks rose Thursday after President Donald Trump announced a trade deal framework between the U.S. and United Kingdom, the first major agreement hatched since the U.S. launched pre-emptive tariffs on most of the globe earlier this year. The Dow Jones Industrial Averag gained 254.48 points, or 0.62%, to settle at 41,368.45. The S&P 500 rose 0.58% and closed at 5,663.94. The Nasdaq Composite advanced 1.07% to end at 17,928.14. Trump announced the deal outline from the Oval Office with U.K. Prime Minister Keir Starmer on speakerphone. A 10% baseline tariff will remain on the U.K.,...
The Dow Jones Industrial Average (DJIA) gained ground on Thursday, climbing over 650 points or 1.6% after the Trump administration announced an incoming (but still not signed) trade deal with the United Kingdom (UK). Under the trade deal, most imports from the UK will still see a 10% tariff across the board, but markets are taking the news as a sign that the Trump administration will continue to at least partially walk back its own tariffs over time. Investors are still hoping for a quick resolution to the escalating US-China trade war that has steep 145% import taxes on most goods from...
US stocks rose on Thursday, with the S&P 500 rising 0.6%, the Nasdaq adding 0.9% and the Dow Jones jumping 230 points, as investors welcomed President Trump's announcement of a US-UK trade deal. Sentiment was further boosted by reports that the administration is preparing to roll back some Biden-era restrictions on chipmakers. Consumer discretionary, energy and communication services were by far the top performers while health and utilities underperformed. Megacaps Apple (0.6%), Microsoft (1.6%), Nvidia (0.5%), Amazon (1.2%), Meta (2.2%), Alphabet (1.2%) and Tesla (3.2%) were all...
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....