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...
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...
Oil prices rose on Wednesday, holding just above a four-year low, as investors focused on US-China trade talks and signs of declining US output. Brent crude futures were up 44 cents a barrel, or 0.7%, at $62.59 a barrel by 0400 GMT, while US West Texas Intermediate crude futures were up 50 cents, or 0.9%, at $59.59 a barrel. Both benchmarks have slumped to four-year lows recently after OPEC+ decided to accelerate output increases, stoking concerns about oversupply at a time when US tariffs have raised concerns about demand. "News that the US and China will start trade talks later this...
Gold prices fell on Wednesday as optimism over potential US-China trade talks dampened demand for safe-haven assets, while investors braced for the Federal Reserve's policy decision due later in the day. Spot gold fell 1.3% to $3,383.88 an ounce, as of 0432 GMT. The metal rose nearly 3% in the previous session. US gold futures fell about 1% to $3,391.80. "Gold appears to be weakening amid the broad risk-on movement across the market… this is a pro-cyclical configuration that may echo optimism amid hints that the US and China have begun real trade negotiations," said Ilya Spivak, global...