Stocks slipped on Thursday after a new inflation report showed that wholesale costs rose more than expected last month The Dow Jones Industrial Average lost 200 points, or about 0.5%. The S&P 500 shed 0.4%, while the Nasdaq Composite slid 0.3%. Investors came into the session riding high, with the S&P 500 and Nasdaq posting fresh record highs in the previous session. The benchmarks got a jolt earlier this week after the release of a cooler-than-expected consumer price inflation report for July. That report stoked hopes among investors for a rate cut from the Federal Reserve at the...
The dollar index fell to 101.5 on Tuesday after weaker-than-expected inflation data suggested only a modest impact from President Donald Trump's recently imposed tariffs. According to the Bureau of Labor Statistics, consumer price inflation eased to 2.3% in April—its lowest level since February 2021 and slightly below market expectations of 2.4%. On a monthly basis, CPI rose 0.2%, rebounding from a 0.1% decline in March but still missing the forecasted 0.3% increase. Core inflation held steady at 2.8% year-over-year, marking a four-year low. Markets also continued to weigh the implications...
Silver prices surged nearly 2% to above $33 per ounce on Tuesday, rebounding from losses in the previous session as initial enthusiasm over the US-China trade agreement began to wane, giving way to broader market caution. The rally followed weekend negotiations in Switzerland, where Washington and Beijing agreed to reduce their respective tariffs to 10% and 30% for a 90-day period—marking a significant, though temporary, de-escalation in trade tensions. While officials from both countries are expected to reconvene in the coming weeks to pursue a broader trade accord, uncertainty remains...
Oil prices held steady on Tuesday, weighed down by rising supplies and caution over whether the pause in the U.S.-China trade war will lead to a longer-term deal. Brent crude futures gained 9 cents, or 0.14%, to $65.05 a barrel by 0803 GMT. U.S. West Texas Intermediate (WTI) crude was up 11 cents, or about 0.2%, at $62.06. The two benchmarks rose by about 4% or more in the previous session after the U.S. and China agreed on sharp reductions to tariffs for at least 90 days, which also boosted Wall Street stocks and the dollar. The market is now evaluating the impact of the trade truce,...
The dollar retreated slightly on Tuesday but held on to most of the previous session's gains on lingering optimism over a tariff deal between the United States and China, which tapped the brakes on a trade war between the world's two largest economies. Washington and Beijing on Monday announced an agreement to slash the massive tariffs they had imposed on each other for 90 days, sparking a relief rally across markets that swept up global stocks and sent the dollar surging. The situation is still very dollar-centric according to Kit Juckes, chief FX strategist at Societe Generale, who said...
Gold recovered on Tuesday as bargain-hunters stepped in after prices hit a more than one-week low in the previous session, pressured by a U.S.-China tariff truce that lifted appetite for riskier assets and dented bullion's safe-haven appeal. Spot gold was up 0.6% at $3,254.39 an ounce, as of 0639 GMT. Bullion recorded a 2.7% decline in the previous session. U.S. gold futures were up 1% at $3,258.70. After two days of negotiations in Geneva, U.S. and China announced tariff reductions for the next three months, with U.S. tariffs on Chinese imports dropping from 145% to 30% and Chinese...