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 price climbed over 1% on Friday as the US Dollar (USD) retreated after posting two days of gains, weighed by lower US yields. A deterioration in risk appetite boosted Bullion prices, which are being underpinned by geopolitical concerns. At the time of writing, XAU/USD trades at $3,338. Wall Street registers losses as traders brace for the meeting between the China and US delegations in Switzerland on Saturday. Although expectations are high that the trade war sustained by both countries could de-escalate, investors remained cautious ahead of the talks. US President Donald Trump said...
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, reverses sharply on Friday after hitting a near one-month high of 100.86 earlier in the day. Disappointment surrounding the so-called US-UK trade deal weighed heavily on the Greenback, with investors focusing on this weekend's critical trade negotiations between the United States and China in Switzerland. US Dollar softens ahead of key talksThe US-UK trade deal is being written off by markets as non-substantive, with US tariffs on UK goods remaining at 10%.Market focus shifts to US-China...
Oil prices rose around 1% on Friday and were set for their first weekly gains since mid-April as a U.S. trade deal with United Kingdom turned investors optimistic ahead of talks between top officials from Washington and Beijing. Brent crude rose by 61 cents, or 1%, to $63.45 a barrel by 12:29 p.m. ET (1629 GMT). U.S. West Texas Intermediate crude was up 57 cents, or about 1%, at $60.48. Week-over-week, both benchmarks were on track to rise about 4%. U.S. President Donald Trump said on Friday that China should open up its market to the United States and that 80% tariffs on Chinese goods...
Gold rose over 1% on Friday as the dollar ticked lower, while the market digested recent tariff remarks from U.S. President Donald Trump ahead of a weekend meeting between the U.S. and China. Spot gold was up 0.8% to $3,332.88 an ounce at 0919 ET(13:18 GMT) and gained nearly 3% so far this week. Bullion, known as a hedge against geopolitical and economic uncertainties has risen more than 27% since the start of the year. U.S. gold futures were up 1% to $3,338.10. The U.S. dollar edged 0.3% lower, making bullion less expensive for other currency holders. U.S. President Donald Trump said...
Oil prices rose more than 1% on Friday, poised for a weekly gain as trade tensions between top oil consumers China and the United States showed signs of easing and Britain announced its own U.S. trade deal. Brent crude firmed by $1.19, or about 1.9%, to $64.03 a barrel by 1021 GMT. U.S. West Texas Intermediate crude was up $1.21, or about 2%, at $61.12. On the week, both contracts were on track to rise more than 4%. Oil prices rose more than 1% on Friday, poised for a weekly gain as trade tensions between top oil consumers China and the United States showed signs of easing and...