SPX daily Closing changes on the day: S&P 500 down 0.6% DJIA +0.1% Russell 2000 -0.8% Nasdaq Comp +1.3% Toronto TSX Comp -0.3% Closing changes for the week: S&P 500 up 0.4% DJIA +0.8% Nasdaq Comp -0.2% You hate to see Lockheed Martin up 1.6% and closing near the best levels of the week ahead
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Gold prices have seen a notable weekly gain of more than 3%, marking their first increase in four weeks. This surge is primarily attributed to ongoing geopolitical tensions, notably the recent conflict between Israel and Hamas. The surprise attack by Hamas on Israel has escalated the situation, leading Israel to declare war. The United States
The abrupt escalation in conflicts in the Middle East significantly influenced the global financial markets last week, causing capital influx into safe-haven assets. Amidst the military confrontations, Gold and other precious metals experienced a sharp surge in value. Oil prices also saw a rebound, reflecting the geopolitical tensions. While Treasury bonds reaped some advantages, equity
Markets: Gold up $60 to $1928 Oil up $4.74 to $87.65 US 10-year yields down 7.9 bps to 4.62% S&P 500 down 0.6% CHF leads, NZD lags This isn’t the kind of price action anyone wants to see while bombs are flying in the Middle East. The strength of the rallies in gold and oil
Gold prices jumped nearly 3% on Friday and were set for their best week in seven months, as conflict in the Middle East lifted safe-haven demand for the metal, combined with expectations that the U.S. interest rates may have peaked. Spot gold was up 2.8% at $1,921.39 per ounce by 1134 a.m. ET (1534 GMT).
Dollar staged a notable comeback overnight, accompanied by a sharp ascent in treasury yields and a downtick in stocks. This resurgence was catalyzed by the release of US CPI data that stoked concerns of another Fed rate hike this year. However, this speculation has yet to be significantly mirrored in futures pricing, which currently pegs
There are three elements to this week’s gold rally: 1) A bounce from technical support in the low $1800s. In March, gold also bounced here, as the chart illustrates. gold chart 2) US dollar weakness and worries about US debt This week’s terrible slate of Treasury auctions were a small slice of evidence that deficits
Gold extended gains on Friday and traded at two-week high levels. The gains were due to weakness in the dollar index (DXY). The MCX December gold futures were trading at Rs 58,050 per 10 grams, up Rs 132 or 0.23%. Meanwhile, the December Silver futures were trading at Rs 69,499 per kg, gaining Rs 425
As Middle East tensions escalate again ahead of the weekend, global financial markets are exhibiting a pronounced shift towards risk aversion. The news of Israel urging all civilians in Gaza City to evacuate, in anticipation of a ground invasion following a severe attack by Hamas, has sent shockwaves through the markets. Both Oil and Gold
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The International Energy Agency (IEA) on Thursday lowered its forecast for growth in oil demand in 2024, suggesting harsher global economic conditions and progress on energy efficiency will weigh on consumption. In its monthly report, the IEA forecast demand for oil will rise by 880,000 barrels per day (bpd) in 2024, down from its previous
Dollar continues its slide, maintaining its position as the week’s worst performer and further descending following the release of FOMC minutes. The document indicated a majority of the Committee members anticipate an additional rate hike this year, aligning with recent dot plot projections. However, the market seems to have shrugged off this hawkish message. Attention
The US dollar is stronger following today’s CPI inflation report. Prices rose 3.7% y/y compared to 3.6% expected as shelter and energy inflation drove the bulk of gains. Core inflation was in-line but overall the report was worrisome enough for the market to push up Treasury yields and the US dollar. USD/JPY rose to 149.44,
Gold prices climbed by Rs 350 to Rs 59,050 per 10 grams in the national capital on Thursday amid positive global cues, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 58,700 per 10 grams. “Gold prices advanced further on Thursday, following positive trade in the overseas markets,” Saumil
Dollar is showing signs of revival in early session, in the wake of the release of CPI data, which indicated a marginally stronger headline inflation than anticipated. This uptick is further supplemented by a parallel recovery in treasury yields, lending some support to the greenback. However, any substantial upside for Dollar remains in check, as
BofA Securities head of US equity and quantitative strategy in a Bloomberg TV interview overnight: probably a lot of this good news has been priced … maybe even overpriced into the Mega-cap tech cohort. Everybody owns these companies, so there’s not a lot of buying pressure. But there is a broader array of companies that
The profitability of most domestic steel makers is set to improve by ₹500-₹2,000/tonne quarter-on-quarter in the three months to September, largely aided by lower cost of a key raw material, according to analysts, even as steel prices fell in the seasonally weak period. The cost of coking coal, which is used in the production of
Sterling has emerged as the predominant force in today’s currency market, a surge attributed to the dramatic escalation in UK gas prices, which have ascended to their peak since June. Concerns about potential sabotage exacerbating supply constraints are rife, especially after a leak was detected in the Balticconnector pipeline—a crucial conduit for gas transmission between