The Nasdaq Composite rose 0.7% and the S&P 500 gained 0.3% on Friday, led by a 10.8% surge in Amazon shares after the company said cloud revenue climbed 20% in the third quarter and beat estimates, lifting tech names broadly. The Dow traded up 60 points. Palantir and Oracle added 3% and 2.8%, repsectively, on AI optimism and Nvidia also traded higher. Elsewhere, Netflix rallied 2.9% on an announced 10 for 1 stock split and Tesla jumped 3.1%. Energy names diverged as Chevron rose 1.9% on stronger earnings and Exxon Mobil slipped 1.5% after a profit decline. On the other hand, Meta fell...
A gauge of the dollar held steady as investors await clarity around possible reciprocal tariffs. The euro climbed on hopes of a solution to the war in Ukraine. Bloomberg Dollar Spot Index was little changed since closing up 0.1% after data showing US inflation accelerated more than expected, prompting traders to shift bets for the next Fed rate cut to December from September. EUR/USD rose 0.2% to 1.0400 with spot holding a sentiment bid from news that President Donald Trump agreed in a phone call with Russian President Vladimir Putin to...
Oil fell the most in more than two months on speculation that risks to Russian supplies could ease after President Donald Trump said he and Vladimir Putin had agreed to hold talks to end the Ukraine war. West Texas Intermediate crude futures were trading near $71 a barrel after dropping 2.7% in the previous session, the biggest drop since late November. Brent settled near $75 on Wednesday. Trump said their teams would begin negotiations soon, and that he might meet Putin in Saudi Arabia. U.S. sanctions on Moscow's oil sector have disrupted Russian crude flows, which helped support a surge...
Gold edges lower in the early Asian session, weighed by higher U.S. Treasury yields that undermine the appeal of the non-interest-bearing precious metal. The U.S. inflation report released overnight was hotter than expected, spurring a surge in the 10-year Treasury yield, says IG's Axel Rudolph in an email. Also, Fed rate-cut expectations are being pared back to July, the senior technical analyst adds. Spot gold is 0.1% lower at $2,901.61/oz. Source : Dow Jones Newswires
Gold price recovered some ground late during Wednesday's North American session. Federal Reserve (Fed) Chair Jerome Powell said that policy needs to remain restrictive as inflationary pressures mount and United States (US) President Donald Trump's tariff threats intensify. XAU/USD trades at $2,897, virtually unchanged. The non-yielding metal halted its downtrend after the US Bureau of Labor Statistics (BLS) revealed that inflation jumped above 3% in the United States, suggesting that the Fed's pause on its easing cycle could be longer thanLast week, the December fed funds rate futures...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $71.10 during the early Asian session on Thursday. The WTI price falls as US President Donald Trump called Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy to discuss ending the war in Ukraine. Trump discussed the war in Ukraine in phone calls with Putin and Zelenskiy. Trump claimed he and Putin had agreed to have their respective teams start negotiations immediately, and they will begin by calling Zelenskiy to inform him of the conversation. "Trump doing peace talks, I think that has...