The Dow Jones Industrial Average gave back gains and closed lower on Thursday as investors pocketed some of their profits in what's been a solid week thus far. The 30-stock Dow fell 224.48 points, or 0.51%, closing at 43,968.64.The S&P 500 lost 0.08% and ended at 6,340.00. The Nasdaq Composite advanced 0.35%, ending at 21,242.70. The major averages saw sharp swings during the session, with the Dow up more than 300 points at its high and off more than 390 points at its low. The blue-chip Dow was weighed down by a 2.5% decline in Caterpillar shares after the construction equipment maker...
The US dollar index slipped toward 97 on Thursday, nearing a three-week low, as progress in trade talks with major partners lifted rival currencies. Reports indicated that the US and EU are moving closer to a deal, with discussions centered around a 15% baseline tariff on EU goods and possible exemptions. Earlier this week, Japan agreed to a similar 15% tariff on its exports to the US, a reduction from the 25% previously threatened by President Donald Trump. Additionally, Treasury Secretary Scott Bessent signaled that the current tariff truce with China is likely to be extended beyond its...
The Australian dollar strengthened to around $0.661 on Thursday, extending its five-session rally to hit its highest level since November last year, fueled by optimism over latest global trade developments. The US and EU are reportedly close to a trade deal that would impose 15% tariffs on most imports while waiving duties on select items, according to European Commission officials. Treasury Secretary Scott Bessent also confirmed that US and Chinese officials will meet in Stockholm next week for further talks. These developments follow a recent US–Japan tariff agreement that helped ease...
Gold edges higher in the early Asian session on possible position adjustments after front-month gold futures snapped a three-day winning streak overnight. Speculative positioning in the precious metal appears to be elevated though not extreme, while retail demand seems to be slower, two members of Sucden Financial's research team say in a commentary. As such, gold could remain in a consolidation phase until a clearer dovish signal from the Fed emerges, the members add. Spot gold is little changed at $3,390.51/oz. Source: Dow Jones Newswires
Oil steadied after a string of losses, with investors looking to US trade talk progress and low inventory levels. Brent crude traded below $69 a barrel after four sessions of declines, with West Texas Intermediate above $65. US President Donald Trump said he would set tariffs of 15% to 50% ahead of an Aug. 1 deadline for trade talks. The 15% levy rate was set for Japan on Wednesday, while the European Union is progressing toward a similar agreement. "There may be mild buoyancy in crude from a less-dismal demand-side assumption as markets express relief on...
The EUR/USD pair strengthened during the North American session, rising 0.16%, as rumors grew that the United States and the European Union (EU) would soon sign a deal similar to the one signed between Washington and Tokyo on Tuesday. At the time of writing, the pair was trading above 1.1770, after hitting a daily low of 1.1710. Trade news in the US was the main headline, keeping investors on edge as market sentiment fluctuated between risk-on and risk-off. The trade deal between Japan and the US, under which Japan would pay a 15% tariff on US imports, triggered the initial decline in...