US equities ended lower on Tuesday as investors grappled with downbeat economic data, rising trade tensions, and mixed corporate earnings. The S&P 500 dropped 0.5%, the Nasdaq slid 0.7%, and the Dow slipped by 62 points, following Monday's sharp rebound from Friday's losses tied to a disappointing jobs report. Concerns about stagflation resurfaced after the ISM Services index showed activity had stalled in July. Meanwhile, President Trump's threats of steep tariffs up to 250% on pharmaceutical imports alongside potential levies on semiconductors, added to market unease amid ongoing...
Gold futures rose on safe-haven demand. Gold futures were up 0.7% at $2,670.80 an ounce. Rising geopolitical tensions between Russia and Ukraine, exacerbated by Russia's latest nuclear threats, have prompted investors to seek stable assets like gold, said Antonio Di Giacomo of XS.com. However, gold's rally has not been as sharp as some traders had hoped, capped by the strength of the dollar, he said in a note. Since both are considered safe-haven assets, the strength of the dollar reduces the relative demand for gold. Expectations of new monetary policy decisions by major banks—including...
The U.S. dollar stood broadly firm on Thursday as traders awaited more clarity on U.S. President-elect Donald Trump's proposed policies and sought to second-guess the prospects of less aggressive interest rate cuts from the Federal Reserve. After stalling for three sessions, the greenback was back on the march higher, with investors lifting the dollar index measure against its key rivals closer to a one-year high of 107.07 hit last week. The dollar has rallied more than 2% since the Nov. 5 U.S. presidential election on bets Trump's policies could reignite inflation and temper the Fed's...
Gold prices rose for the fourth straight session on Thursday, driven by safe-haven demand amid escalating tensions in the Russia-Ukraine conflict, while investors awaited remarks from Federal Reserve policymakers on the interest rate outlook. Spot gold was up 0.3% at $2,657.41 per ounce, as of 0238 GMT, hitting its highest since Nov. 11. U.S. gold futures rose 0.3% to $2,660.00. Ukraine fired a series of British Storm Shadow cruise missiles into Russia on Wednesday, marking the latest use of Western weapons on Russian targets, just a day after firing U.S. missiles. Meanwhile, the United...
Oil steadied as US crude stockpiles expanded for a third week, with traders monitoring an escalation of the war in Ukraine. West Texas Intermediate traded near $69 a barrel after closing 0.7% lower on Wednesday, while Brent settled below $73. US crude inventories rose by 545,000 barrels last week, according to government data. The volume was significantly smaller than figures flagged by an industry report. Oil has swung between gains and losses since mid-October, buffeted by a range of factors including signs of ample supply and a stronger dollar. Russia's war in...
Gold edges higher in early Asian trade. The precious metal is still supported by geopolitical uncertainties, particularly the ongoing conflict between Russia and Ukraine, Sucden Financial analysts say in a note. Geopolitical tensions can often spur demand for gold, which is considered a safe-haven asset. Spot gold is up 0.2% at $2,654.46/oz. Source: Marketwatch