Gold steadied and was set for a moderate weekly loss as investors assessed the outlook for Federal Reserve rate cuts after resilient US jobs and retail data eased concerns about the economy. Bullion traded below $3,340 an ounce, heading for a 0.5% drop on the week. That came after data that showed applications for unemployment benefits fell for a fifth straight week to the lowest level since mid-April, and advancing retail sales in June. San Francisco Fed President Mary Daly said it's reasonable for policymakers to plan on two interest-rate cuts this year, emphasizing that the central bank...
Asia-Pacific markets opened mixed Wednesday after Federal Reserve Chair Jerome Powell signaled there was no urgency to cut rates. Powell on Tuesday re-emphasized the central bank's focus on curbing inflation and signaled that policymakers were not in a rush to push interest rates lower. Australia's S&P/ASX 200 traded around the flatline. Japan's Nikkei 225 rose 0.71% after resuming trading following a holiday, while the Topix added 0.22% at the open. South Korea's Kospi slid 0.21% while the small-cap Kosdaq lost 0.36%.Hong Kong's Hang Seng index futures were at 21,551, also stronger...
The S&P 500 posted a slight gain on Tuesday as investors digested cautious comments from Federal Reserve Chairman Jerome Powell on interest rates. Concerns persisted over the direction of the economy amid U.S. tariffs and a possible escalation of the global trade war. The S&P 500 rose 0.03% to close at 6,068.50, while the Nasdaq Composite fell 0.36% to close at 19,643.86. The Dow Jones Industrial Average rose 123.24 points, or 0.28%, to 44,593.65. Apple rose 2.2% after The Information reported that the company is partnering with Alibaba to develop AI features for iPhone users in...
Stock futures in the US were mostly lower on Tuesday, with contracts on the S&P 500 losing 0.3%, the Dow Jones declining 90 points, and the Nasdaq 100 falling 0.5%, as traders digested the latest tariff news and awaited Fed Chair Powell's testimony to Congress for further insights into the Fed's plans for the year, as well as comments on inflation and trade policy from the new administration. President Trump has signed an executive order imposing a 25% tariff on steel and aluminum imports with no exceptions or exemptions. Shares of steel and aluminum producers rose in premarket trading,...
European markets opened in positive territory on Tuesday as investors digested the latest raft of tariffs introduced by U.S. President Donald Trump. While the pan-European Stoxx 600 index and Germany's Dax were mostly flat, the U.K.'s FTSE 100 was up by 0.22%. France's CAC also opened higher by 0.35%. Global markets started the week on a positive note, appearing to shrug off Trump's announcement over the weekend that he would impose a blanket 25% tariff on all steel and aluminum imports on Monday. Since the announcement was made yesterday evening, however, markets have taken a downturn,...
The Hang Seng dipped 227 points or around 1% to end at 21,295 on Tuesday, slipping for the first session in four amid a decline in US futures ahead of key US inflation data later this week. Sentiment was further dampened after President Trump signed an order Monday imposing a 25% tariff on steel imports and raising duties on aluminum from 10% to 25%, both effective from March 4. Most sectors fell, with tech sinking 2.7% and slipping for the third day, as optimism for AI and chip stocks waned. Capping further falls was Trump's statement that he had spoken to Chinese President Xi Jinping...
Asia-Pacific markets traded mixed Tuesday as investors assessed U.S. President Donald Trump's tariff campaign.Trump on Monday signed an order imposing 25% tariffs on imports of steel and aluminum into the U.S.Australia's S&P/ASX 200 traded around the flatline.South Korea'sKospi rose 0.72%, while the small-cap Kosdaq climbed 0.35%.Hong Kong's Hang Seng Index slipped 0.56%, while the mainlan China's CSI 300 dipped 0.36%.Japan markets were closed for a holiday.Singapore's benchmark Straits Times Index slipped 0.44% after it hit an all-time intraday high of 3,910.12 on Monday.India's...
The Hong Kong stock market fell by 92 points or 0.4% to 21,434 during Tuesday morning trading, marking its first drop in four sessions amid cautious sentiment following President Trump's announcement of a global 25% tariff on US imports of steel and aluminum, set to take effect on March 4. Markets retreated from their highest since early October, as traders adopted a vigilant stance ahead of this week's key US inflation data and Fed Chair Powell's testimony before Congress. Most sectors dropped, with tech, property, and consumers slipping the most. Further losses were capped by optimism...
Asia-Pacific markets opened higher Tuesday, tracking gains on Wall Street that appeared to look past U.S. President Donald Trump's tariff campaign.Trump on Monday signed an order imposing 25% tariffs on imports of steel and aluminum into the U.S.Australia's S&P/ASX 200 traded 0.24% higher. South Korea's Kospi rose 0.36%, while the small-cap Kosdaq traded around the flatline.Hong Kong's Hang Seng index futures were at 21,576, slightly stronger than the HSI's last close of 21,521.98.Japan markets were closed for a holiday.Investors will also be keeping an eye on Singapore markets after the...
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....