Oil falls after breaking through $120 as inflation and GDP concerns in the United States bite
Oil falls after breaking through $120 as inflation and GDP concerns in the United States bite In Monday’s session, oil rose to near three-month highs above $120 a barrel before falling on profit-taking and concerns about the impact on the US economy of record fuel prices in a country already grappling with 40-year high inflation. […]
US jobs report indicates more rate hikes are on the way, gold prices are rising
US jobs report indicates more rate hikes are on the way, gold prices are rising Even as the US jobs report suggested additional interest rate hikes this year, gold was up in Asia on Monday morning, putting pressure on non-yielding bullion. By 10:26 p.m. ET, gold futures were up 0.32 percent to $1856.20. (2:26 AM […]
The recovery of the US stock market will be put to the test by inflation
The recovery of the US stock market will be put to the test by inflation The rise that brought US stocks back from the brink of a bear market will be put to the test next week, when consumer price data will reveal how much more the Federal Reserve will need to do to combat […]
OPEC prepares to establish new output targets, oil prices are rising
OPEC prepares to establish new output targets, oil prices are rising Oil prices have climbed ahead of the OPEC cartel of oil-producing nations’ meeting on Thursday, as ministers prepare to establish output targets for July in their first meeting since the European Union slapped sanctions on Russian petroleum. Some members of OPEC are pressuring the […]
To begin June trading, stocks are down
To begin June trading, stocks are down After a volatile trading month, US stock indices fell on the first day of June. The three major US indexes all gave up their morning advances. To close at 4101.23, the S&P 500 dropped 30.92 points, or 0.7 percent. The Dow Jones Industrial Average dropped 176.89 points, or […]
Ahead of the Manufacturing PMI, XAU/USD is expected to fall
Ahead of the Manufacturing PMI, XAU/USD is expected to fall In the New York session, the gold price (XAU/USD) broke down from its prior consolidation in a $1,846.20-1,864.16 range. The precious metal has been very volatile as investors prepare for the Federal Reserve (Fed) to increase the scope of its aggressive stance in June. Inflationary […]
Crude Oil Climbed Whether Russia’s Oil Imports Will Be Banned by the EU
Crude Oil Climbed Whether Russia’s Oil Imports Will Be Banned by the EU Crude oil closed yesterday at 9080, up 2.06%, as traders awaited news on whether the European Union would agree to an embargo on Russian oil imports. On Monday and Tuesday, the EU will gather to consider the sixth package of sanctions against […]
In May, Global stock markets swing positive due to Fed bets
In May, Global stock markets swing positive due to Fed bets On forecasts of a likely pause in US monetary tightening and after an easing of COVID restrictions in China, world stock markets climbed on Monday and the dollar was held near five-week lows. Following signals of peaking American inflation on Friday, confidence in a […]
Dollar falls, Gold prices rise in range-bound trade
Dollar falls, Gold prices rise in range-bound trade Gold prices rose in turbulent trading on Monday, bolstered by a weaker dollar, which boosted greenback-priced metal, though gains were limited as some investors shifted to riskier Asian assets. As of 0152 GMT, spot gold was up 0.2 percent at $1,856.86 per ounce. Gold futures in the […]
US stock market halted its losing trend & inflation to moderate
US stock market halted its losing trend & inflation to moderate The NASDAQ, which gained 3.3 percent, led all three US benchmarks to a positive finish on Friday, bringing the stock market’s seven-week losing streak to an end. The S&P 500 gained 2.5 percent, while the Dow Jones gained 1.8 percent, with 29 of the […]
US stock market closes higher as US Fed minutes were positive
US stock market closes higher as US Fed minutes were positive Wall Street ended the day higher on Wednesday, boosted by minutes from the Federal Reserve’s most recent monetary policy meeting, which revealed that officials agreed that the US economy was quite robust as they struggled to control inflation without sparking a recession. The minutes […]
On the back of the Fed Minutes, sellers of XAU/USD are targeting $1,848
On the back of the Fed Minutes, sellers of XAU/USD are targeting $1,848 During Wednesday’s Asian session, the gold price (XAU/USD) posts its first daily loss in five days, dropping to an intraday low of roughly $1,860. The recent weakness of the metal could be linked to the US dollar’s recovery from a monthly low […]
Fears of slower growth in U.S.A have caused stock markets to tumble
Fears of slower growth in U.S.A have caused stock markets to tumble After statements from social media company Snap and poor economic data raised concern that the US economy was about to decline dramatically, investors sold stocks on Tuesday and bet on a less aggressive Federal Reserve policy. On Tuesday, the NASDAQ Composite, which is […]
Gold prices fall as the dollar tries to recover
Gold prices fall as the dollar tries to recover Gold prices fell marginally on Tuesday as the dollar recovered slightly after a recent dip, impacting on demand for greenback-priced gold. After reaching to its highest level since May 9 of $1,865.29 on Monday, spot gold dipped 0.2 percent to $1,850.40 per ounce at 0240 GMT. […]
Big tech and banks are driving Wall Street higher; the Dow is up 2%
Big tech and banks are driving Wall Street higher; the Dow is up 2% On Monday, US equities finished higher as bank gains and a resurgence in market-leading tech companies fueled a broad-based rally following Wall Street’s largest weekly fall since the dotcom bust more than two decades ago. All three major US market indexes […]
Oil rises as traders consider a tight fuel market and poor global growth
Oil rises as traders consider a tight fuel market and poor global growth Investors evaluated tight product markets against concerns about slowing global growth as oil prices increased at the start of the week. Following four weeks of advances, West Texas Intermediate rose beyond $111 a barrel, the longest such run since February. Prices of […]
Stocks in the United States finish with a mixed performance
Stocks in the United States finish with a mixed performance On Friday, May 20, 2022, the US stock market ended the day on a mixed note, with a lack of important US economic data putting some investors on the sidelines and concerns about the potential economic consequences from the Federal Reserve’s efforts to suppress […]
Stocks end the day higher as indexes recover from their recent sell-off
Stocks end the day higher as indexes recover from their recent sell-off Stocks in the United States rose on Tuesday, helped by a rise in technology companies, as all three indexes recovered after heavy selling last week sparked by concerns about persistently rising prices and the possibility of an economic downturn. Investors mostly ignored Federal […]