Gold prices were flat on Thursday, as investors awaited a key U.S. inflation reading that could provide further insights into the Federal Reserve’s policy path. FUNDAMENTALS * Spot gold was unchanged at $2,338.04 per ounce, as of 0125 GMT, after falling 1% in the previous session. * U.S. gold futures were down 0.2% at $2,358.30. … Read more
The dollar was stable on Wednesday on wagers the Federal Reserve is unlikely to cut rates until later this year ahead of crucial inflation readings this week, while the yen drifted to its weakest in four weeks. The dollar was also lifted by rising Treasury yields after a lacklustre debt auction for sales of two-year … Read more
U.S. Treasury yields pushed to a near four-week peak on Wednesday, lifting their Asia-Pacific counterparts and the dollar while pressuring equities, as data sowed new doubts about the timing and extent of Federal Reserve rate cuts. Crude oil rose for a fourth day to reach a four-week high amid speculation OPEC+ will maintain production cuts … Read more
Gold prices were listless on Thursday after a recent rally lost steam to dip more than 1% in the previous session, as traders started pulling back their expectations of rate cuts by the U.S. Federal Reserve this year. FUNDAMENTALS * Spot gold held its ground at $2,377.48 per ounce, as of 0113 GMT. Bullion hit … Read more
New York: Federal Reserve officials earlier this month coalesced around a desire to hold interest rates higher for longer and “many” questioned whether policy was restrictive enough to bring inflation down to their target. Minutes from the two-day Federal Open Market Committee gathering ending May 1 showed that, while participants assessed that policy was “well … Read more
The Nasdaq closed at a record high on Monday while the S&P 500 gained slightly as technology stocks advanced ahead of Nvidia’s highly anticipated earnings and investors gauged the timing of an interest rate cut by the Federal Reserve. The S&P 500 technology index led gains among the 11 major S&P sectors, rising 1.32%, helped … Read more
Big US bond investors have been aggressively shifting money into long-dated notes, betting that the unloved asset class will be one of the winners from eventual interest rate cuts. The largest 20 mutual fund managers in the US have increased duration over the past two months as yields climbed, according to research by JPMorgan Chase … Read more
A rebound that has taken the U.S. stock market to record highs this week may have further to run, if history is any guide. Fresh signs of a cooling economy calmed inflation worries in May, helping all three major U.S. stock indexes rise to records this week. The benchmark S&P 500, which fell over 4% … Read more
The Dow Jones industrial average closed above the 40,000 mark for the first time on Friday, with other major indexes also scoring weekly gains, as data supported expectations for interest rate cuts by the Federal Reserve this year. The benchmark S&P 500 edged higher after paring losses while the Nasdaq fell, but both chalked up … Read more
The Dow Jones Industrial Average ended higher on Wednesday, stretching its winning streak to six straight sessions and closing above 39,000 points for the first time in five weeks, as investors kept betting on supportive U.S. monetary policy. The other Wall Street benchmarks cooled a touch as momentum stalled and U.S. Treasury yields rose on … Read more
