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Oil soars almost 5% on Biden’s latest comments
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 […]
Asia lower after Japan’s trade report
Major stock indexes in the Asia-Pacific region traded lower on Thursday after a report showed that Japan’s trade deficit landed at ¥224.04 billion in June. Additionally, Australia’s unemployment rate stood at 4.1% in June. Australia’s S&P/ASX 200 lost 0.19% at 4:05 am CET. South Korea’s Kospi Composite was down by 1.16% a minute later. Hong […]
Silver slumps 2.6% amid Fed policy woes
The price of the white metal declined on Wednesday as concerns about the future of the Federal Reserve’s monetary policy appeared to weaken investors’ appetite for safe-haven assets. Meanwhile, Federal Reserve Chair Jerome Powell said on Monday that recent data “adds somewhat to confidence” that inflation is returning to target and that the central bank […]
US oil inventories reportedly down by 9.1M barrels
Crude oil inventories in the United States dropped by 9.1 million barrels in the week that ended June 28, private data from the American Petroleum Institute (API) allegedly showed on Tuesday. Meanwhile, reserves in Cushing, Oklahoma, allegedly grew by 404,000 barrels. Gasoline stockpiles added 2.46 million barrels, while distillate inventories slid by 740,000 barrels, according […]
Europe opens higher ahead of PMI reports
Major European markets traded higher in Wednesday’s opening as investors awaited a fresh batch of economic data. Eurozone producer price data will be released today, as well as composite services PMIs from the United Kingdom and Germany and the euro area. Tomorrow, UK voters will cast ballots in a general election where the Labour Party […]
Palladium soars by 4% on semiconductor news
The price of palladium surged by more than 4% on Tuesday after China hinted at the standardization of artificial intelligence (AI) by 2026 establishing about 50 sets of rules. Meanwhile, the Taiwanese CTEE reported that Apple is raising the orders of chips necessary for its iPhone 15. Additionally, technology startups Aethero and Cosmic Shielding Corporation […]
Precious metals down, silver sinks by 2.5%
The prices of precious metals went down on Tuesday, with silver extending its downturn trend observed in the past few days amid the ongoing geopolitical tensions that seemingly made trade wary of new investments. Silver plunged by 2.51% at 4:31 am ET to sell for $29,96 per ounce. Simultaneously, gold dropped by 0.64% to go […]
