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...
GBP/USD is tumbling over 0.40% on Friday as geopolitical tensions triggered a flow towards the US Dollar (USD) haven status after Israel launched an attack on Iran, which escalated the Middle East conflict. The pair traded near 1.3550s after hitting a three-year peak of 1.3632.Israel's attacks targeted Iran's nuclear facilities, missile factories and military commanders, according to Israeli officials. Iran media revealed that explosions were heard in Tehran and Natanz, the latter being crucial for the Iranian nuclear program. Consequently, Iran retaliated against Israel and sent over 100...
Oil prices jumped over 7% on Friday to multi-month highs after Israel launched air strikes against Iran, sparking Iranian retaliation and raising worries about a disruption in Middle East oil supplies. Brent crude futures were up $4.94, or 7.12%, to $74.30 a barrel at 1442 GMT, after hitting an intraday high of $78.50, the strongest level since January 27. U.S. West Texas Intermediate crude was up $4.72, or 6.94%, at $72.75, touching its highest since January 21 at $77.62 earlier in the session. Friday's gains were the largest intraday moves for both contracts since 2022, after Russia's...
The U.S. dollar gained against major currencies, including the euro and yen, on Friday as markets sought safe-haven assets amid rising geopolitical tensions following an Israeli attack on Iran. Israel launched a barrage of strikes across Iran on Friday, attacking nuclear facilities and missile factories and killing a swath of military commanders. Israel said about 100 drones had been launched towards Israeli territory in retaliation, although an Iranian source denied this. U.S. President Donald Trump, Israel's main ally, urged Iran to reach a deal on its nuclear program, suggesting that...
Gold (XAU/USD) is extending its gains as Israel's attacks on Iran continue, supporting demand for the safe-haven precious metal. At the time of writing, Gold is trading near $3,430, with a surge in bullish momentum potentially opening the door for a retest of the $3,500 record high in the near term. The attacks by Israel on Iran's nuclear facilities have resulted in a broad ‘risk-off' tone throughout markets, supporting Gold's rise. Recent news indicates that the United States and Israel have warned that attacks are likely to persist, leading to a surge in gold prices, which are currently...
Oil prices jumped more than 7% on Friday, trading near multi-month highs after Israel launched a major strike on Iran, prompting Iranian retaliation and raising concerns about disruptions to oil supplies. Brent crude futures jumped $5.1, or about 7.4%, to $74.46 a barrel by 0843 GMT after hitting an intraday high of $78.50, the highest since Jan. 27. U.S. West Texas Intermediate crude rose $5.1, or 7.5%, to $73.15 a barrel after hitting a high of $77.62, the highest since Jan. 21. Friday's gains were the biggest intraday moves for both contracts since 2022, after Russia's invasion of...