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...
Oil prices settled lower on Wednesday after U.S. crude and gasoline stocks rose by more than expected last week, but losses were capped by worries about the intensifying war between major oil producer Russia and Ukraine. Brent crude futures for January settled down 50 cents, or 0.68%, at $72.81. U.S. West Texas Intermediate crude futures for December expired on Wednesday, and settled down 52 cents, or 0.75%, at $68.87, while the more active WTI contract for January settled down 49 cents, or 0.71% at $68.75. U.S. crude and gasoline stocks rose by more than expected last week, according to...
Gold moved higher mid-afternoon on Wednesday, climbing for a third day as increasing international tensions prompt safe-haven buying after the Biden Administration permitted Ukraine to fire U.S.-made missiles into Russia and Moscow responded by lowering its policy threshold for the use of nuclear weapons. Gold for December delivery was last seen up US$20.90 to US$2,651.90 per ounce. The dollar rose even as the dollar and treasury yields climbed. The ICE dollar index was last seen up 0.55 points to 106.75. A stronger dollar is bearish for commodities priced in the currency. Treasury yields...
Gold prices climbed for a third consecutive session to mark a one-week high on Wednesday, as investors sought refuge in the safe-haven metal amid mounting geopolitical unease fueled by escalating Russia-Ukraine tensions. Spot gold was up 0.6% at $2,646.79 per ounce, after hitting its highest level since Nov. 11 earlier in the session. U.S. gold futures gained 0.8% at $2,650.60. Geopolitical tensions intensified as Russian President Vladimir Putin broadened the scope for nuclear strikes. "Clearly that's sparked safe-haven interest," said Peter Grant, vice president and senior metals...
Silver prices eased to around $31 per ounce on Wednesday as concerns over the escalating Russia-Ukraine conflict began to subside. On Tuesday, silver briefly rose above $31.50 after Russia lowered its threshold for a potential nuclear strike. However, market fears eased after Russian Foreign Minister Sergei Lavrov stated that the country would "do everything possible" to avoid nuclear war, and the US indicated it saw no reason to adjust its nuclear policy. Investors are now focused on upcoming remarks from US Federal Reserve officials, which could influence the dollar and, in turn,...
The U.S. dollar slipped to a one-week low versus major peers on Wednesday, looking to extend a three-day decline from a one-week peak as the market catches its breath following the frantic rally in the wake of Donald Trump's election. The previous day's boost to the dollar and other traditional safe-haven currencies like the yen proved short-lived, after Russia's foreign minister said the country will "do everything possible" to avoid the onset of nuclear war, hours after Moscow announced it would lower its threshold for a nuclear strike. Bitcoin crept up towards the fresh all-time peak...