Stocks recovered from lows reached earlier on Thursday, with investors buying the dip once again in spite of a dour wholesale inflation report. The late-day gains mean the S&P 500 notched its third straight record close, by the slimmest of margins, settling up 0.03% at 6,468.54. The Nasdaq Composite and Dow Jones Industrial Average were marginally lower, with the tech heavy index ending the day down 0.01% at 21,710.67, and the 30-stock Dow losing 11.01 points, or 0.02%, to close at 44,911.26. The S&P and Nasdaq were both down 0.4% at their lows before bouncing back. The Dow shed...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades broadly flat on Wednesday at around 99.40 after printing a fresh five-day low on Tuesday and looks to be on pause for now. Traders are meanwhile assessing news about progress between China and the US regarding trade talks and brace for the Federal Reserve (Fed) interest-rate decision later this Wednesday. Not much is expected from this rate decision as markets almost fully price in that the Fed will keep rates stable despite pressure from US President Donald Trump to cut...
Gold prices fell more than 1% on Wednesday as hopes around trade talks between the United States and China weighed on the safe-haven metal ahead of a Federal Reserve rates decision later in the day. Spot gold was down 1.2% at $3,388.49 an ounce as of 1141 GMT, after a sharp rise in the previous session. "Late yesterday, reports emerged of a potential meeting between U.S. and Chinese officials this week, which could bolster sentiment if confirmed by Chinese and U.S. authorities," said Zain Vawda, analyst at MarketPulse by OANDA. U.S. Treasury Secretary Scott Bessent and chief trade...
Oil prices pared gains on Wednesday but rose for a second session, finding support from positive investor sentiment over U.S.-China trade talks to be held this weekend and signs of lower U.S. shale output. Brent crude futures climbed 34 cents a barrel, or around 0.6%, to $62.49 a barrel by 1220 GMT, while U.S. West Texas Intermediate crude was up 44 cents, or 0.7%, at $59.53 a barrel. The U.S. and China are due to meet in Switzerland, which could be the first step toward resolving a trade war disrupting the global economy. "It is clear that hopes are high with respect to trade talks,"...
Gold prices dropped on Wednesday as optimism surrounding U.S.-China trade talks weakened demand for safe-haven assets, ahead of the Federal Reserve's policy decision later in the day. Spot gold fell 1.2% to $3,389.37 an ounce as of 0628 GMT. The metal had climbed nearly 3% on Tuesday. "Gold seems to be pulling back amid a broad-based 'risk on' move across markets... this is a pro-cyclical configuration that might echo optimism amid clues that the U.S. and China have started real trade negotiations," said Ilya Spivak, head of global macro at Tastylive. GLOB/MKTS U.S. Treasury Secretary...
The U.S. dollar rose against the safe-haven yen and Swiss franc while steadying versus the euro as investors looked towards the impending outcome of the Federal Reserve policy meeting later in the session and tariff negotiations. U.S. Treasury prices rose on Tuesday, as a well-received auction of the benchmark 10-year note suggested demand for Treasuries remained intact after a trade war shook investor confidence in U.S. assets. The greenback dropped sharply on the U.S. tariff announcement early last month before jumping on April 22 as U.S. Treasury Secretary Scott Bessent suggested there...