The price action in risk assets in the last hour is sobering. The S&P 500 has turned a 110-point gain into a 60-point gain. That’s still up 1.5% but there’s still 90 minutes of trading left to go. If the index is already down for six straight weeks and it can’t muster a decent relief
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The current financial market environment is one where market players are shunning riskier assets and moving to the safety of cash. Increasing nervousness about economic growth, inflation concerns, geopolitical issues, and the rising interest rates has caused the switch. The US dollar has emerged as the clear winner in this flight to safety, with the
Extreme volatility was seen in the markets last week, in particular in the across the broad rout in cryptocurrencies. Stocks the tumbled sharp but stage a late come back. Gold and silver resumed recent decline. Yen ended as the best performer, helped by both risk aversion and pull back in benchmark treasury yields. However, overall
In this article NVAX Rafael Henrique | LightRocket | Getty Images Novavax on Monday reported its first profitable quarter as its Covid vaccine rolls out across several countries around the world, though the company still missed earnings and revenue expectations. Novavax stock was down more than 8% in after hours trading. Novavax reported net income
Gold’s recovery capped by the $1,820 area, stays under pressure. Improvement in risk sentiment offers limited help to the yellow metal. On a weekly basis, XAU/USD is down almost 4%. Gold bottomed at $1,799 on Friday, the lowest level since February. A recovery followed later that found resistance quickly at $1,820. The yellow metal remains
Silver falls to lowest level since July 2020 The price of silver has been on a sharp move to the downside. Since it’s last peak at $26.21, the price has been down 16 of the last 18 trading days. Today, the price made a new cycle low but has seen a rebound and trades higher
It was Friday the 13th but the day was not a scary one for the markets. After sharp declines in the US stocks, bond yields and crypto coming into the day, today saw stocks rebound, yields moved back higher and bitcoin even rallied. Fundamentally, however, there was a scare as the UMichigan preliminary consumer sentiment
May 11: Gold prices eased on Wednesday to a three-month low as an elevated dollar continued to pressure bullion while investors await monthly U.S. inflation data, which could have some impact on the Federal Reserve‘s monetary policy stance. FUNDAMENTALS * Spot gold was down 0.3% at $1,832.06 per ounce, as of 0046 GMT. U.S. gold
Overall market sentiment stabilize in Asia today, with Nikkei leading other major indexes higher. Bitcoin is trading back above 20k, arguing that the climax of the crypto rout is over. In the currency markets, both Dollar and Yen are paring some recent gains while commodity currencies recover. But for the week, Yen is still the
The Federal Reserve on Wednesday raised its benchmark interest rate by half a percentage point as the most aggressive step yet in its battle against generational highs in inflation. Along with the move higher in rates, the central bank indicated it will begin reducing asset holdings on its $9 trillion balance sheet. The Fed had
In this article PTON A Peloton stationary bike for sale at the company’s showroom in Dedham, Massachusetts, U.S., on Wednesday, Feb. 3, 2021. Adam Glanzman | Bloomberg | Getty Images Peloton is set to report its fiscal third-quarter results Tuesday before the market open, a first for the company’s recently appointed Chief Executive Officer Barry
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In a Friday announcement, Pham said Keaghan Ames will be her counselor and senior policy adviser at the CFTC starting May 23. Ames worked at Credit Suisse for more than two years as vice president and head of U.S. regulatory policy, which included advising executives on digital assets regulation. He will be joining the CFTC
Data released on Friday showed University of Michigan’s Consumer Sentiment Index fell to 59.1 in May from 65.2 in April, the lowest reading since 2011. According to analysts at Wells Fargo, there is no shortage of factors to blame for the decline in consumer sentiment, from inflation to rising interest rates and financial market instability.
GBPUSD failed on a break to new lows today The GBPUSD fell to a new day and week low of 1.21543. The move lower took out the low from yesterday at 1.2165. Going back further, the break also took the price below the swing low going back to May 22, 2020 at 1.21591. However, momentum
The S&P 500 has extended its gain to 2.2%. Even with that, this should be the sixth consecutive week of decline. That only underscores how far this bounce could go. What could limit it though is the bond market. US 10-year yields hit 3.20% after the CPI report before falling all the way to 2.80%
NEW DELHI: India MCX June futures fell marginally on Friday tracking weakness in gold spot prices which remained under pressure amid a strong dollar. The dollar steadied near a fresh 20-year high scaled on Thursday on concerns of aggressive US Federal Reserve’s actions to tame inflationary pressures, said a Reuters report. The bullion has lost