US stocks closed higher on Friday, with the S&P 500 up 0.8%, and the Nasdaq climbing nearly 1%, while the Dow gaining 206 points. Technology shares, led by Apple which surged 4.2% following its announcement of a $600 billion US investment plan helped lift the tech-heavy Nasdaq to new intraday highs. Investor optimism was also fueled by expectations of Federal Reserve rate cuts, with President Trump nominating Stephen Miran to the Fed Board, signaling possible shifts in monetary policy, despite concerns over new tariffs imposed by the Trump administration on imports from multiple...
Oil prices edged lower on Wednesday after government data showed U.S. crude oil stockpiles rose unexpectedly last week, prompting investor concerns of excess supplies. Brent crude futures fell 40 cents, or around 0.6%, to $66.23 a barrel by 12:04 p.m. EDT (1604 GMT). U.S. West Texas Intermediate crude slipped 33 cents, or 0.52%, to $63.34. Both benchmarks, which traded close to their highest in two-weeks in the previous session, fell after data from the Energy Information Administration showed crude stockpiles rose by 3.5 million barrels to 441.8 million barrels last week. Analysts in a...
Gold fell below $3200/oz as a pause in Chinese ETF flows and geopolitical optimism triggered a pullback but underlying support from central banks and institutional inertia keeps downside risk asymmetric, TDS' Senior Commodity Strategist Daniel Ghali notes. Positive Russia-Ukraine headlines expose Gold to sharp pullback"Gold prices are breaking through the $3200/oz range. because Chinese ETF flows ground to a halt overnight after gaining steam over the last sessions, leaving the door for positive Russia-Ukraine headlines to catalyze a break." the US-China ceasefire on trade was the...
Oil prices fell on Wednesday as traders eyed a potential jump in U.S. crude inventories, while OPEC lowered its oil supply growth forecast for producers outside OPEC+. Brent crude futures fell 75 cents, or around 1.1%, to $65.88 a barrel by 1206 GMT. U.S. West Texas Intermediate (WTI) crude slipped 75 cents, or 1.2%, to $62.92. OPEC on Wednesday trimmed its forecast for growth in oil supply from the United States and other producers outside the wider OPEC+ group this year. Supply from countries outside OPEC+ will rise by about 800,000 barrels per day in 2025, down from last month's...
Gold prices fell on Wednesday as easing U.S.-China trade tensions soothed fears of a potential global recession, boosting investor risk appetite and weighing on bullion's safe-haven appeal. Spot gold fell 0.4% to $3,233.69 an ounce, as of 0828 GMT. Prices scaled a record high of $3,500.05 last month amid elevated trade war fears. "After the tariff truce announced over the weekend, we've seen stock markets surge higher, and at least in the short term, this has removed some of the safe haven focus that has helped propel gold to record highs in recent months," said Ole Hansen, head of...
Silver prices declined to below $33 per ounce on Wednesday, reversing gains from the previous session as easing global trade tensions reduced demand for safe-haven assets. The pullback followed productive US-China trade talks over the weekend in Switzerland, where both sides agreed to temporarily lower tariffs to 30% and 10%, respectively, for a 90-day period—a notable step toward de-escalation. While this has eased market fears of a prolonged trade war, uncertainty remains over what will happen once the agreement expires, with further negotiations expected in the coming weeks. Reduced...