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 dollar held losses against the yen on Wednesday after U.S. President Donald Trump announced a trade deal with Japan ahead of an impending tariff deadline. Trump said the agreement will result in Japan investing $550 billion into the United States and a tariff rate of 15% was set on U.S. imports from Japan. With an August 1 deadline looming before the imposition of sweeping import duties on trade partners, U.S. Treasury Secretary Scott Bessent said on Monday the administration is more concerned with the quality of trade agreements than the timing. Asked whether the deadline could be...
GBP/USD strengthened for the second consecutive day on Tuesday (July 22nd), driven by a general weakening in the global US dollar market. The US dollar (USD) continued to suffer as investors grew concerned about US President Donald Trump's targeting of Federal Reserve Chairman Jerome Powell, and concerns about the Fed's weakening political autonomy have shaken the dollar's support. President Trump continues to campaign for the removal of Fed Chairman Powell. Lacking the legal authority to directly intervene with Fed staff, the Trump administration is actively seeking to build arguments for...
Oil prices plummeted on Tuesday (July 23) for the third straight session, as hopes for a trade deal between the U.S. and Europe faded, fueling concerns of an economic slowdown in the world's largest oil market. Brent crude futures fell 82 cents, or 1.2%, to $68.39 a barrel at 1:59 p.m. EDT. U.S. West Texas Intermediate crude for August delivery, which expires on Tuesday, fell $1.05, or 1.6%, to $66.15 a barrel. The more active September WTI contract fell 87 cents, or 1.3%, to $65.08 a barrel. The European Union is exploring a broader range of possible retaliatory measures against the U.S....
Gold rose to a five-week high on Tuesday (July 22), boosted by trade uncertainty and weakening U.S. bond yields as investors continued to monitor U.S. President Donald Trump's tariff deadline on August 1. Spot gold rose 1% to $3,428.84 an ounce at 2:10 p.m. ET (18:10 GMT), reaching its highest level since June 16. U.S. gold futures rose 1.1% to $3,443.70. The yield on the benchmark 10-year U.S. Treasury note fell to a near two-week low, making non-yielding bullion more attractive. Trade uncertainty boosted demand for safe-haven assets. "The US is working on several trade deals, and there...
Gold rose to a five-week high on Tuesday (July 22nd), driven by trade uncertainty and weakening US bond yields as investors continued to monitor US President Donald Trump's tariff deadline on August 1st. Spot gold prices rose 1% to $3,427.59 an ounce at 16:22 GMT, reaching their highest level since June 16th. US gold futures rose 1.2% to $3,442.50. The yield on the benchmark 10-year US Treasury note fell to a nearly two-week low, making non-yielding bullion more attractive. "Trade uncertainty is driving demand for safe-haven assets. The US is working on several trade deals, and there are...