US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq closed near the flatline as AI giants remained under pressure. Senate Republicans rejected Democrats' offer to scale down shutdown demands, but lingering hopes of an incoming agreement improved risk sentiment before the closing bell. The suspension of operations and government data were evidenced by the deteriorating consumer confidence measured by...
Oil prices climbed on Tuesday as the Iran-Israel conflict raged with no end in sight, though major oil and gas infrastructure and flows have so far been spared from substantial impact. Brent crude futures gained $2.11, or 2.88%, to $75.35 a barrel by 10:44 a.m. CDT (1544 GMT). U.S. West Texas Intermediate crude was up $1.43, or 1.99%, at $73.20. Both contracts rose more than 3% early in the session but retreated in volatile trade before bouncing back. While there was no noticeable interruption to oil flows, Iran partially suspended gas production at the South Pars field it shares with...
Gold moves higher against the US Dollar (USD) on Tuesday as traders digest mixed US Retail Sales data and monitor escalating tensions in the Middle East. At the time of writing, XAU/USD is trading around $3,392, supported by rising safe-haven demand amid renewed geopolitical risks. The latest US Retail Sales report delivered mixed signals. Headline sales fell 0.9% in May, a steeper drop than the expected 0.7% decline and the sharpest contraction since early 2024. Sales excluding autos also declined 0.3%, indicating broad-based consumer weakness. However, the control group, which directly...
Gold moves higher against the US Dollar (USD) on Tuesday, trading around $3,395 at the time of writing, bolstered by an escalation in the Israel-Iran conflict and rising safe-haven demand. The US President Donald Trump stated in a post on Truth Social on Tuesday: "I have not reached out to Iran for ‘Peace Talks' in any way, shape, or form. This is just more HIGHLY FABRICATED, FAKE NEWS! If they want to talk, they know how to reach me." He added that Iran "should have taken the deal that was on the table — would have saved a lot of lives." Markets reacted after Trump had earlier called for...
Oil prices rose Tuesday as traders digested the latest monthly IEA report while ongoing tensions in the Middle East provided support. At 06:15 ET (10:15 GMT), Brent oil futures for August rose 1.7% to $74.48 a barrel, while West Texas Intermediate crude futures gained 1.7% to $71.44 a barrel. Both contracts have seen volatile trading Tuesday, rising more than 2% earlier in the trading session but also notching declines. Global oil demand will keep growing until around the end of this decade despite peaking in top importer China in 2027, as cheaper gasoline and slower electric vehicle...
Gold prices were steady on Tuesday as investors assessed the conflict between Israel and Iran and looked ahead to this week's U.S. Federal Reserve's policy meeting. Spot gold was steady at $3,383.01 an ounce, as of 0851 GMT. U.S. gold futures fell 0.5% to $3,401.30. Israel and Iran exchanged attacks for a fifth consecutive day on Tuesday. U.S. President Donald Trump urged an evacuation of Iran's capital Tehran and cut short his trip to the G7 summit in Canada. A separate report said he had asked for his administration's National Security Council to be prepared in the situation...