US Stocks plunged on Friday, as investors reacted to a weak July jobs report and a fresh round of tariffs announced by President Trump. The S&P 500 and Nasdaq fell 1.6% and 2.2%, their steepest drops since April, while the Dow lost 542 points. Payrolls rose by just 73,000 in July, far below expectations, with sharp downward revisions to prior months signaling deeper labor market weakness. Treasury yields fell and the odds of a September Fed rate cut rose above 80%. Sentiment worsened after new tariffs of 10% to 41% were imposed on imports from key partners including Canada, India, and...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, faced losses of around 1.3% in just three trading days on Wednesday (5/21), trading near 99.58. Throughout the week, the USD has paid the price for the erratic policy changes of the Trump administration, which has faced difficulties on several fronts. US President Trump no longer seems to have a firm grip on Israeli Prime Minister Benjamin Netanyahu. During his tour of the Middle East, Trump declared it was time for a new nuclear deal with Iran and a second chance. However, in the...
Oil prices plunged on Wednesday after the U.S. government released disappointing data on crude and fuel inventories ahead of the start of the summer driving season in the United States, a time of higher demand. Prices had earlier risen about 1% after a report that Israel may be preparing to strike Iran's nuclear facilities raised concerns about supply disruptions in the Middle East. Brent crude futures were down 8 cents at $65.30 a barrel by 10:52 a.m. EDT (1452 GMT). U.S. West Texas Intermediate crude was down 3 cents at $62.00. U.S. crude, gasoline and distillate inventories all posted...
Oil prices jumped Wednesday after a media report indicated that Israel is preparing for a potential military strike on Iranian nuclear facilities, spurring supply disruption concerns. At 07:35 ET (11:35 GMT), Brent Oil Futures jumped 0.7% to $65.82 per barrel, while West Texas Intermediate (WTI) crude futures also climbed 0.8% to $62.52 per barrel. Potential Israeli strike on Iran - CNN Israel is preparing for a potential military strike on Iranian nuclear facilities, as the U.S. continues to pursue a diplomatic agreement with Tehran, CNN reported on Tuesday, citing multiple U.S....
Silver prices rose past $33.1 per ounce on Wednesday, testing the highest level in three weeks amid a pullback for the dollar and evidence of ample industrial buying. The greenback came under pressure despite the fresh increase for long-dated Treasury yields, reflecting lingering doubts on the exceptionalism of US assets and aligning with the recent influx into precious metals for safety. Demand for safety was also underpinned by reports that Israel is considering striking Iran, extending geopolitical tensions in the region. In the meantime, higher investments in solar panels, the main...
Gold (XAU/USD) edges higher on Wednesday towards $3,311 at the time of writing, with concerns that tensions in the Middle East might spiral out of control again and Trump's fiscal bill not passing Congress. In late trading on Tuesday, CNN reported that Israel is considering targeting nuclear sites in Iran. While former United States (US) President Joe Biden was able to change Israel's Prime Minister Benjamin Netanyahu's mind, US President Donald Trump has seen his diplomatic efforts fall apart, with markets mulling whether Trump is still able to control Netanyahu. In the US, President...