European stocks opened lower on Wednesday (November 5th), reflecting a global downturn amid growing concerns over sky-high tech valuations. The pan-European Stoxx 600 Index was down 0.4% at 8:20 a.m. in London (3:20 a.m. ET), with most major bourses and sectors in the red. The UK's FTSE 500 Index opened 0.1% lower, Germany's DAX 0.7% lower, France's CAC 40 0.4% lower, and Italy's FTSE MIB 0.3% lower. European tech companies led the decline, with the Stoxx Europe 600 Technology Index down 1.2% following a sharp sell-off in U.S. tech stocks on Tuesday. The sluggish sentiment seen in...
Gold edges higher in the early Asian session, underpinned by ongoing global trade tensions. "Tariff concerns that risk higher inflation and slower economic growth are spurring demand for safe-haven assets like gold," ING's Ewa Manthey says in a research report. "We see uncertainty over trade and tariffs continuing to buoy gold prices - and if trade tensions intensify and we see more retaliatory measures, safe-haven demand for gold will continue," the commodities strategist adds. Spot gold is 0.2% higher at $2,989.79/oz. Source: Marketwatch
Oil rose for a second day after China, the world's biggest importer, said it would take steps to revive consumption by boosting incomes. Brent crude climbed above $71 a barrel after advancing 1% on Friday, with West Texas Intermediate near $68. Beijing will also give details on policies to stabilize stock and real estate markets, lift wages and boost the nation's birth rate, state-run news agency Xinhua reported. Crude has fallen more than 10% from this year's high in January, as US President Donald Trump's escalating trade war, an OPEC+ decision to increase supply...
The Pound Sterling (GBP) registers back-to-back bearish days, dropping some 0.14% on Friday against the Greenback after economic data from the United Kingdom (UK) revealed that the Gross Domestic Product (GDP) contracted. Despite this, GBP/USD is trading above the 1.2900 figure, poised to finish the day near this level.GBP/USD pressured after UK GDP miss while rising US inflation expectations complicate Fed's next moveRecently, data from the University of Michigan (UoM) showed that Consumer Sentiment in March deteriorated, from 64.7 to 57.9, below forecast of 63.1. Notably, inflation...
Oil prices rebounded by 1% on Friday to end the week nearly unchanged as investors weighed the diminishing prospects of a quick end to the Ukraine war that could bring back more Russian energy supplies to Western markets. Brent crude futures settled 70 cents, or 1%, higher at $70.58 a barrel, after falling 1.5% in the previous session. U.S. West Texas Intermediate crude (WTI) (CLc1) closed at $67.18 a barrel, up 63 cents, or 1%, after losing 1.7% on Thursday. Both benchmarks ended the week little changed from last Friday, when Brent settled at $70.36 and WTI at $67.04. "Brent oil has...
Gold broke through the key $3,000 barrier on Friday for the first time as investors piled on to a historic rally in the safe-haven asset to seek cover from economic uncertainty sparked by U.S. President Donald Trump's tariff war. Spot gold hit an all-time high of $3,004.86 earlier in the session, before easing 0.1% to $2,986.26 as of 02:01 p.m. ET (1801 GMT) on profit taking. U.S. gold futures settled 0.3% higher at $3,001.10. Gold's surge past the $3,000 milestone was driven by "beleaguered investors seeking the ultimate safe-haven asset given Trump's tumult on stock markets," said Tai...