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...
Oil prices were little changed on Wednesday (July 23rd) as investors assessed trade developments between the European Union and the US after President Donald Trump reached a tariff deal, opening a new chapter with Japan. Brent crude futures closed 8 cents, or 0.12%, lower at $68.51 a barrel, while U.S. West Texas Intermediate crude fell 6 cents, or 0.09%, to $65.25 a barrel. On Wednesday, European Union officials said they were moving toward a trade deal with Washington that would result in a broad 15% tariff on EU goods imported into the US, avoiding the higher 30% tariffs scheduled to...
Gold prices continued to weaken on Wednesday (July 23rd) following reports that the US and the European Union were close to reaching a deal on 15% tariffs, which reduced demand for safe-haven assets. Meanwhile, silver had earlier surged to its highest level since September 2011. Spot gold fell 1.1% to $3,394.64 an ounce at 2:33 PM ET (18:33 GMT), after hitting its highest level since June 16th earlier. US gold futures closed down 1.3% to $3,397.60. "So, we're seeing a trade deal with Japan and also with the European Union. Ultimately, this means there are no major retaliatory tariffs from...
Gold fell after a three-day rally as US President Donald Trump's deal with Japan and reports of progress in negotiations with the European Union eased trade war fears that had fueled demand for safe-haven assets. Bullion fell as much as 1.4% after Trump said he would impose 15% tariffs on Japanese goods, while the Financial Times reported that the US and EU were close to reaching a similar agreement. The terms with Japan were better than most investors had expected, following tough negotiations. Commerce Secretary Howard Lutnick previously said that Japan's pledge to invest hundreds of...
The US dollar (USD) stabilized on Wednesday (July 23rd) after a sharp three-day decline. Traders appeared to be taking a breather as global trade tensions eased slightly after the US and Japan reached a trade deal ahead of the August 1st tariff deadline. At the same time, mounting political pressure on the Federal Reserve (Fed), with renewed criticism of Chairman Jerome Powell, has reignited concerns over the central bank's independence, keeping market sentiment fragile and the greenback weakening. The US Dollar Index (DXY), which measures the greenback's strength against six major...
Oil prices fell for the fourth consecutive session on Wednesday, as investors assessed trade developments including a U.S. tariff deal with Japan ahead of a U.S. stocks data announcement. Brent crude futures were down 35 cents, or 0.5%, at $68.24 a barrel as of 1246 GMT. U.S. West Texas Intermediate crude futures were down 33 cents, or 0.5%, at $64.98 per barrel. Both benchmarks lost about 1% in the previous session after the EU said it was considering countermeasures against U.S. tariffs. U.S. President Donald Trump said on Tuesday that the U.S. and Japan had struck a trade deal that...