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...
Gold fell for a second straight session on Tuesday, as risk sentiment improved following U.S. President Donald Trump's decision to delay tariffs on the European Union. Spot gold fell 1.2% to $3,302.10 an ounce by 2:03 p.m. ET (1802 GMT) after rising nearly 5% last week. U.S. gold futures settled 1.9% lower at $3,300.40. "There's a lot of volatility in gold prices because we keep getting changes on tariffs. Right now, the market is probably under the impression that there's a deal to be reached and that's weighing on gold," said Bart Melek, head of commodity strategies at TD Securities. A...
Oil prices fell 1.5% on Tuesday, boosted by concerns about a supply glut after Iranian and U.S. delegates made some progress in their talks and expectations that OPEC+ will decide to raise output at a meeting later this week. Brent crude futures were down 99 cents, or 1.5%, at $63.73 a barrel by 1457 GMT. U.S. West Texas Intermediate crude was down $1.02, or about 1.7%, at $60.48 a barrel. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are not expected to change policy at a meeting on Wednesday. However, another meeting on Saturday is likely to agree...
Gold fell as the dollar strengthened and demand for safe-haven assets waned, with investors also weighing the prospect of improving trade relations between the U.S. and the European Union. Bullion fell 1.5% as signs that Japan may be ready to adjust its debt issuance boosted global bonds and the U.S. currency. A stronger dollar makes gold more expensive for buyers in other currencies, while lower yields on non-interest-bearing debt reduce the appeal of the precious metal. Investors are also less fearful of risk as the EU and U.S. signaled a willingness to end a standoff and work toward a...
Oil prices were little changed on Tuesday as easing trade war concerns offset expectations OPEC+ will decide to increase output at a meeting later this week. Brent crude futures were down 28 cents, or 0.4%, at $64.46 a barrel by 1154 GMT, while U.S. West Texas Intermediate (WTI) crude fell 33 cents, or 0.5%, to $61.20 a barrel. Easing trade war concerns are lifting prices, but the upside remains limited until it is clear what the OPEC+ will decide on Saturday, said UBS analyst Giovanni Staunovo. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, will...
Gold prices declined more than 1% on Tuesday as the dollar's reversal to trade higher added to the pressure on the safe-haven asset following U.S. President Donald Trump's less aggressive trade stance towards the European Union. Spot gold was down 1.6% at $3,289.93 an ounce as of 1155 GMT. U.S. gold futures fell 2.3% to $3,287.80. Prices had softened on Monday as well after Trump, on Sunday, retreated from his threat to impose new tariffs on the European Union next month, instead reinstating a July 9 deadline for trade negotiations. "Gold trades lower for a second day with technical...