Stocks in the US were mostly higher on Wednesday, with the S&P 500 up 0.1%, the Nasdaq adding 0.2% and the Dow Jones swinging around the flatline. Traders remain focused on corporate earnings and trade developments, particularly after President Trump announced increased tariffs targeting countries that purchase energy from Russia. He also signaled that new levies on semiconductor and pharmaceutical imports will be unveiled "within the next week or so". Apple was up 2.8% as President Donald Trump is set to announce the firm will commit to another $100 billion investment on domestic...
Gold fell as the dollar jumped after President-elect Donald Trump threatened 25% tariffs on imports from Canada and Mexico. Trump said the import duties were needed to curb migrants and illegal drugs flowing across the U.S. border, while also vowing to impose additional 10% tariffs on Chinese goods. A stronger dollar dented bullion's appeal by making it more expensive for many buyers. Bullion traded near $2,620 an ounce after dropping 3.4% in the previous session as easing tensions in the Middle East sapped demand for safe-haven assets. Israel's security cabinet is expected to vote on a...
Gold prices (XAU/USD) fell during the North American session on Monday (11/25) as news of a ceasefire between Lebanon and Israel spread, dampening appetite for riskier assets. This, along with the appointment of Scott Bessent as Treasury Secretary for the Trump administration, weighed on the yellow metal. XAU/USD is trading at $2,620, down more than 3%. The increased risk appetite is driving the movement in Gold prices. The non-yielding metal has fallen below its 50-day Simple Moving Average (SMA) of $2,664, opening the door for further downside. Market participants welcomed Bessent's...
WTI crude futures fell 3.2% on Monday, settling at $68.90 a barrel, following a report suggesting Israel and Hezbollah may be close to reaching a ceasefire deal within days. Traders cautiously viewed the news as a positive sign, but doubts persisted due to the failure of previous ceasefires. Attention also turned to escalating Ukraine-Russia tensions. In other developments, Iran announced plans to expand its nuclear fuel output following criticism from the UN atomic watchdog, preparing for potential sanctions under a possible second Trump administration. Meanwhile, Azerbaijani Energy...
Crude futures fall as expectations of an imminent ceasefire agreement between Israel and Hezbollah takes some Middle East risk premium out of the market. But "we have seen how ceasefires have failed to materialize in the past, so its best to take any ceasefire news cautiously," says Alex Hodes of StoneX in a note. Trade is apt to be volatile on lighter volume this week with the U.S. closed Thursday for Thanksgiving, he adds. WTI settles down 3.2%, at $68.94 a barrel, and Brent loses 2.9%, to $73.01 a barrel. Source: Marketwatch
Gold prices plunged over 3% on Monday, breaking a five-session rally to its highest in nearly three weeks, as reports of Israel nearing a ceasefire with Hezbollah, coupled with Trump's nomination of Scott Bessent as the U.S. Treasury Secretary soured the precious metal's safe-haven appeal. Spot gold fell 3.4% to $2,619.66 per ounce by 02:01 p.m. ET (1901 GMT), its biggest daily percentage decline since Jun.07. U.S. gold futures settled 3.5% lower to $2618.50. Traders are also gearing up for a pivotal week, with minutes from the Federal Reserve's November meeting, U.S. GDP revisions, and...