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...
Silver prices stabilized around $32.90 per ounce on Wednesday, following recent volatility as investors awaited clarity on US-China trade relations and key US economic data. While it remains uncertain whether formal negotiations are ongoing, both Washington and Beijing have signaled a willingness to ease tensions amid growing concerns over the trade war's economic fallout. Adding to the cautious sentiment, Chinese manufacturing activity contracted more than expected in April, suggesting slowing industrial demand. Meanwhile, markets are bracing for the release of the March PCE price...
Oil prices extended declines on Wednesday and were set for their largest monthly drop in almost three and a half years as the global trade war eroded the outlook for fuel demand, while concerns over mounting supply also weighed. Brent crude futures fell $1.13, or 1.8%, to $63.12 per barrel by 0813 GMT. U.S. West Texas Intermediate crude futures dropped $1.11, or 1.8%, to $59.31 a barrel. So far this month, Brent and WTI have lost 15.4% and 17%, respectively, the biggest percentage drops since November 2021. Both benchmarks slumped after U.S. President Donald Trump's April 2 announcement...
The U.S. dollar inched higher Wednesday, but was still set to register its weakest month in over two years, weighed by the uncertainty generated by the Trump administration's volatile trade policies. At 04:10 ET (08:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, climbed 0.1% to 99.080, but remained not far from the three year low it touched last week. The index is down 4.6% this month, its weakest performance since November 2022. Dollar pulled by tariffs, economic data The greenback edged higher Wednesday, with sentiment boosted by the...
Gold prices dropped on Wednesday, pressured by a firmer dollar and easing trade tensions, while investors awaited key U.S. data this week for insights into the Federal Reserve's rate outlook. Spot gold fell 0.3% to $3,306.18 an ounce as of 0624 GMT. The metal was on track to log its fourth consecutive monthly gain, rising nearly 6% so far in April. There's been a minor recovery in the broad dollar strength, which led to a little bit of retracement in gold, said Nicholas Frappell, global head of institutional markets at ABC Refinery. U.S. President Donald Trump signed a pair of orders to...
Oil prices extended declines on Wednesday and were set for their largest monthly drop in more than three years as the global trade war eroded the outlook for fuel demand, while fears of mounting supply also weighed. Brent crude futures fell by 75 cents, or 1.17%, to $63.50 per barrel by 0641 GMT. U.S. West Texas Intermediate crude futures dropped 79 cents, or 1.31%, to $59.63 a barrel. Brent and WTI have lost 15% and 17% respectively so far this month, the biggest percentage drop since November 2021. Both benchmarks slumped after U.S. President Donald Trump's April 2 announcement of...