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 plunged on Wednesday after the U.S. government released disappointing data on crude and fuel inventories ahead of the start of the summer driving season in the United States, a time of higher demand. Prices had earlier risen about 1% after a report that Israel may be preparing to strike Iran's nuclear facilities raised concerns about supply disruptions in the Middle East. Brent crude futures were down 8 cents at $65.30 a barrel by 10:52 a.m. EDT (1452 GMT). U.S. West Texas Intermediate crude was down 3 cents at $62.00. U.S. crude, gasoline and distillate inventories all posted...
Oil prices jumped Wednesday after a media report indicated that Israel is preparing for a potential military strike on Iranian nuclear facilities, spurring supply disruption concerns. At 07:35 ET (11:35 GMT), Brent Oil Futures jumped 0.7% to $65.82 per barrel, while West Texas Intermediate (WTI) crude futures also climbed 0.8% to $62.52 per barrel. Potential Israeli strike on Iran - CNN Israel is preparing for a potential military strike on Iranian nuclear facilities, as the U.S. continues to pursue a diplomatic agreement with Tehran, CNN reported on Tuesday, citing multiple U.S....
Silver prices rose past $33.1 per ounce on Wednesday, testing the highest level in three weeks amid a pullback for the dollar and evidence of ample industrial buying. The greenback came under pressure despite the fresh increase for long-dated Treasury yields, reflecting lingering doubts on the exceptionalism of US assets and aligning with the recent influx into precious metals for safety. Demand for safety was also underpinned by reports that Israel is considering striking Iran, extending geopolitical tensions in the region. In the meantime, higher investments in solar panels, the main...
Gold (XAU/USD) edges higher on Wednesday towards $3,311 at the time of writing, with concerns that tensions in the Middle East might spiral out of control again and Trump's fiscal bill not passing Congress. In late trading on Tuesday, CNN reported that Israel is considering targeting nuclear sites in Iran. While former United States (US) President Joe Biden was able to change Israel's Prime Minister Benjamin Netanyahu's mind, US President Donald Trump has seen his diplomatic efforts fall apart, with markets mulling whether Trump is still able to control Netanyahu. In the US, President...
The dollar fell for a third day against a range of currencies on Wednesday, after U.S. President Donald Trump failed to convince Republican holdouts to back his sweeping tax bill. Traders were also wary of U.S. officials potentially angling for a weaker dollar at Group of Seven finance minister meetings under way in Canada. Developments in Trump's global tariff war, which have swung currencies wildly in recent months, have slowed considerably this week, even as the clock ticks to the end of a 90-day tariff respite for U.S. trade partners in the absence of new deals. While markets remain...