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Gold rises over 1% on economy concerns
The price of gold surged more than 1% on Monday as the markets reacted to the news of Moody’s Investors downgrading the United States’ credit rating. Investors were seemingly concerned about the decision’s impact on the US economy, ostensibly heightening demand for safe-haven assets.At the same time, the move resulted in US Treasury bonds increasing […]
Dow dips 300 pts at open on US debt downgrade
Markets opened sharply lower on Monday following Moody’s decision to lower the United States’ credit rating, which was announced Friday after market close, reducing the nation’s status to Aa1 from Aaa, pointing to fiscal challenges related to the mounting federal budget shortfall and the impact of refinancing current US debt during a time of elevated […]
Asia-Pacific higher following rate cuts
Major stock markets in the Asia-Pacific region traded with gains on Tuesday after the People’s Bank of China (PBoC) decided to lower its key interest rates by 10 basis points, and Chinese President Xi Jinping called for more efforts to strengthen the country’s manufacturing sector. Additionally, Australia’s central bank cut its interest rate by 25 […]
Oil loses 1% amid tariffs, US inventories report
Oil prices fell on Wednesday as markets followed the developments in the recently reignited trade dispute between the United States and China. Beijing announced a 10% tariff on US oil, as well as a 15% levy on coal and liquified natural gas. However, bilateral discussions are ongoing and the eventual impact of the measure is […]
Wall Street opens mostly lower after lukewarm tech results
Major stock exchanges in the United States traded mostly lower at the open on Wednesday as earnings from tech companies seemingly failed to live up to expectations. While Alphabet’s Google cloud revenue came in at $11.9 billion in the fourth trimester of fiscal 2024, registering a slower growth compared to the previous quarter, AMD’s net […]
US closes higher, Dow jumps 317 pts
Major stock markets in the United States ended higher on Wednesday as investors brushed off earlier trade turmoil linked to the US administration’s tariff policies. Tech stocks led gains, after Super Micro Computer announced the full production availability of its AI data center featuring Nvidia’s Blackwell platform, making both company’s stocks climb. Market participants are […]
Oil soars almost 5% on Biden’s latest comments
The prices of oil futures kept surging on Thursday as investors remained laser-focused on tensions in the Middle East and United States President Joe Biden’s latest comments on the matter. When asked by reporters at the White House if he would support Israel striking Iran’s oil facilities, he responded: “We’re discussing that. “After Iran’s ballistic […]
Gold surges over 1% amid Middle East woes
The prices of precious metals rose on Tuesday with gold soaring more than 1% and mostly erasing yesterday’s losses, as the growing chaos in the Middle East seemingly pushed investors toward safe havens. A day earlier, Israel announced it would be conducting “limited” ground operations in Lebanon, after killing Hezbollah chief Hassan Nasrallah. Israel’s previous […]
US initial jobless claims up by 6,000 to 225,000
Initial jobless claims in the United States stood at 225,000 for the week ending September 28, which was higher by 6,000 compared to the previous week’s revised level, according to a report by the Department of Labor on Thursday. The 4-week moving average was 224,250, a decrease of 750 from the previous week’s revised average. […]
Nasdaq 100 closes almost 3% lower as tech sell-off continues
Major stock markets in the United States closed Wednesday’s session mostly lower as Nasdaq 100 and S&P 500 indexes closed in the red territory dragged by a sell-off of tech companies. Within both indexes, players like Micron Technology, Nvidia, Meta, Broadcom, Qualcomm, Advanced Micro Devices, and ASML were some of the firms on the list […]
