US stocks closed higher on Friday, with the S&P 500 up 0.8%, and the Nasdaq climbing nearly 1%, while the Dow gaining 206 points. Technology shares, led by Apple which surged 4.2% following its announcement of a $600 billion US investment plan helped lift the tech-heavy Nasdaq to new intraday highs. Investor optimism was also fueled by expectations of Federal Reserve rate cuts, with President Trump nominating Stephen Miran to the Fed Board, signaling possible shifts in monetary policy, despite concerns over new tariffs imposed by the Trump administration on imports from multiple...
Gold prices hovered on Wednesday near their lowest point in more than one week, under pressure from a stronger U.S. dollar and rising Treasury yields, as fresh tariff threats from U.S. President Donald Trump unsettled markets. Spot gold held its ground at $3,301.50 per ounce as of 0234 GMT. U.S. gold futures fell 0.2% to $3,310.10. Trump said he would impose a 50% tariff on imported copper and introduce long-threatened levies on semiconductors and pharmaceuticals. Trump reiterated his threat of 10% tariffs on BRICS nations on Tuesday, a day after notifying 14 countries, including Japan...
Oil prices edged lower from a two-week high in Asian trading on Wednesday after industry data showed a sharp increase in U.S. crude inventories, while investors remained cautious awaiting more trade tariff announcements by President Donald Trump. As of 21:44 ET (01:44 GMT), Brent Oil Futures expiring in September fell 0.3% to $69.91 per barrel, while West Texas Intermediate (WTI) crude futures slipped 0.4% to $68.10 per barrel. Both contracts climbed to a two-week high on Tuesday, driven by supply disruption concerns from fresh Houthi attacks on Red Sea shipping lanes. A Reuters report on...
The Japanese yen slipped past 147 per dollar on Wednesday, marking its third consecutive session of losses as trade negotiations between the US and Japan showed signs of strain, particularly over Japan's rice market protections. The decline followed US President Donald Trump's announcement of a 25% tariff on Japanese goods, set to take effect on August 1. Trump emphasized that there would be no revisions or delays to the newly imposed tariffs, which target 14 countries in total. Japanese Prime Minister Shigeru Ishiba called the latest measures "truly regrettable," but affirmed Japan's...
The Australian Dollar (AUD) remains steady against the US Dollar (USD) on Wednesday after registering more than 0.50% gains in the previous session. The AUD/USD pair moves little following the release of the Consumer Price Index (CPI) data from China, Australia's close trading partner. China's Consumer Price Index climbed 0.1% year-over-year in June after declining 0.1% in May. The market consensus was 0% in the reported period. Meanwhile, the monthly CPI decreased by 0.1% against the expected 0% reading. Moreover, Producer Price Index (PPI) fell 3.6% YoY in June, following a 3.3% decline...
The dollar rose for a third day against the yen on Wednesday as U.S. President Donald Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and other trade partners. The greenback advanced against major peers on Tuesday after Trump began telling trade counterparts that sharply higher U.S. tariffs will start on August 1, but he later said he was open to extensions if countries made proposals. Trump said on social media that there would be announcements on Wednesday regarding "a minimum of 7 countries having to do with trade," without specifying whether he...