Stocks in the US closed higher on Wednesday, extending their recent momentum as growing expectations for a Federal Reserve rate cut in September continued to lift sentiment. The S&P 500 gained 0.3% and the Nasdaq added 0.1%, with both indexes briefly hitting record highs, while the Dow Jones advanced 463 points. The rally built on Tuesday's surge, sparked by a softer-than-expected inflation reading that reinforced bets on monetary easing, with traders fully pricing in a September cut and some anticipating a 50 basis-point move. Sector gains were led by materials, healthcare, and...
Gold edges higher in the early Asian session, underpinned by Fed rate-cut hopes. "The metal could find support amid subdued yields and dovish expectations," Kudotrade's Konstantinos Chrysikos says in an email. "Markets expect three rate cuts in the U.S. during the second half of the year, which could support non-yielding assets like gold," the head of Customer Relationship Management says. Worries over the Fed's independence might also drive investors toward the precious metal, Chrysikos adds. Spot gold is 0.2% higher at $3,310.66/oz. Source : Dow Jones
Oil held a decline to trade near the lowest level since early June with the focus on how much OPEC+ will increase production at a meeting on Sunday. West Texas Intermediate was near $65 a barrel after shedding 0.6% on Monday, while Brent for September closed under $67. The Organization of the Petroleum Exporting Countries and its allies are expected to agree to a fourth monthly major supply increase as leader Saudi Arabia continues its bid to reclaim market share, according to a Bloomberg survey. Oil lost 9% last quarter in a volatile three months that saw prices drop...
EUR/USD rose to a fresh yearly high of 1.1780 on Monday (01/07) as the Greenback continued to be hit by the prospect of a fiscal budget agreement in the United States (US) and expectations that the Trump administration continues to make progress on a trade deal with major trading partners. At the time of writing, the currency pair was trading at 1.1776, up 0.51%. The sentiment remains positive as depicted by US equity indices posting a solid second quarter in 2025, trading at an all-time high. Therefore, the US Dollar (USD) is nearing a multi-year low amid expectations that the fiscal...
Oil prices edged lower on Monday as investors weighed easing Middle East risks and the possibility of an OPEC+ output increase in August. Both Brent and U.S. crude benchmarks posted their biggest weekly declines since March 2023 last week but rose for a second straight month, rising about 6% and 7%, respectively. Brent futures settled down 16 cents, or 0.2%, at $67.61 a barrel and expired on Monday. The more active September contract expired at $66.74. U.S. West Texas Intermediate crude settled down 41 cents, or 0.6%, at $65.11 a barrel. The 12-day war that began with Israel targeting...
Gold edged higher on Monday, supported by a weaker U.S. dollar, as investors awaited U.S. economic data due later in the week for clues on the Federal Reserve's policy path. Spot gold rose 0.6% to $3,293.55 an ounce by 2 p.m. EDT (1800 GMT) after hitting its lowest since May 29 earlier in the session. The metal rose for a second straight quarter, gaining 5.5%. U.S. gold futures settled 0.6% higher at $3,307.70. "The weaker dollar today is providing a little bit of support. However, we are still in a well-established range that has dominated since mid-May," said Peter Grant, vice president...