US stocks rose on Friday (October 17th) as investors reacted positively to President Trump's remarks alleviating concerns about further trade escalation with China, while regional bank stocks rebounded after Thursday's sharp declines. The S&P 500 and Nasdaq each rose 0.5%, while the Dow Jones Industrial Average rose 239 points. Trump said his proposed 100% tariffs on Chinese goods would be unsustainable, although he blamed Beijing for recent trade tensions, and confirmed that his meeting with Chinese President Xi Jinping was still possible at the end of the month. Consumer staples,...
Gold edges higher in early Asian trade amid lingering safe-haven demand. Geopolitical tensions have continued to support this demand, DHF Capital's Bas Kooijman says in an email. NATO recently described Russia's airspace violation over Estonia as part of a broader pattern of aggression, warning it would deploy "all necessary measures" to defend members, the CEO and asset manager says. Risks of a possible U.S. government shutdown next week may also be buoying the precious metal. Spot gold is 0.1% higher at $3,740.58/oz. Source: Dowjonesnewswires.com
The USD/JPY pair strengthened near 148.80 during the early Asian session on Thursday (September 25th). The US dollar (USD) strengthened near a three-week high against the Japanese yen (JPY) due to a renewed wave of risk aversion in financial markets and a cautious tone from the US central bank. Federal Reserve (Fed) Chairman Jerome Powell struck a cautious tone regarding further easing on Tuesday, supporting the greenback. Powell said the Fed needs to continue balancing the competing risks of high inflation and a weakening labor market in its upcoming interest rate decisions. He added that...
Oil prices rose about 3% to a seven-week high on Wednesday as a surprise drop in weekly US crude inventories heightened market concerns about tighter supplies amid export problems in Iraq, Venezuela, and Russia. Brent crude futures rose $1.68, or 2.5%, to $69.31 a barrel, while US West Texas Intermediate (WTI) crude futures rose $1.58, or 2.5%, to $64.99. These were the highest closes for Brent since August 1 and WTI since September 2. US crude inventories fell a surprise 607,000 barrels last week, according to the Energy Information Administration (EIA). The figure compared with analysts'...
Gold prices weakened on Wednesday as the U.S. dollar strengthened, retreating from a record high reached in the previous session, while investors awaited economic data due later this week for further clues on the Federal Reserve's policy direction. Spot gold fell 0.8% to $3,734.58 an ounce, as of 1:56 PM ET (5:56 PM GMT), after hitting a record high of $3,790.82 on Tuesday. U.S. gold futures for December delivery closed down 1.2% at $3,768.1. The U.S. dollar index rose about 0.6%, making dollar-priced bullion more expensive for holders of other currencies. The benchmark 10-year Treasury...
Oil prices rose to a three-week high after futures reached a key technical level, accelerating a rally fueled by U.S. President Donald Trump's hawkish rhetoric toward Russia as traders eyed supply disruptions from the OPEC+ member. West Texas Intermediate crude rose as much as 2.3% to $64 a barrel after Trump said he believed NATO countries should shoot down Russian drones violating their airspace and struck a more sympathetic tone about Ukraine's chances of winning the war. He also reiterated the need for Europe to reduce its energy purchases from Moscow. The price rise deepened after...