On Wednesday, oil prices rose by about 1% as Saudi Arabia’s significant output cuts countered concerns about rising US fuel stocks and weak Chinese export data. Dennis Kissler, the senior vice president of trading at BOK Financial, described the oil futures market as a battleground between slowing manufacturing demand, lower diesel consumption, and anticipated production Read More…
On Tuesday, US equities closed higher as economically sensitive sectors made gains. Investors were anticipating inflation data and the upcoming policy meeting of the Fed next week. The inflation data is expected to indicate a slight cooling of consumer prices in May compared to the previous month, but core prices are likely to remain high. Read More…
On Monday, US equities closed lower as investors deliberated the possibility of the US Federal Reserve pausing its interest rate hikes during the upcoming policy meeting. Meanwhile, Apple experienced a brief surge to a record high before eventually losing ground. Apple Inc. ended the day with a 0.8% decline after introducing an augmented-reality headset called Read More…
Currency futures slid on Friday as the US dollar gained value due to a surge in employment numbers reported in May. In May, public and private sector payroll rose by 339,000, exceeding the average forecast of 190,000 by economists. This increase followed a rise of 253,000 in April. However, despite the strong hiring, the unemployment Read More…
On Thursday, gold surged by nearly 1% to reach a one-week peak due to a decline in the dollar’s value amid reduced rate hike expectations. The rise in gold also occurred after the US House of Representatives approved a bill to lift the federal debt limit. Despite opposition from hardline members of both political parties, Read More…
Oil prices fell on Wednesday due to a stronger US dollar and disappointing data from China, raising concerns about demand. Chinese manufacturing activity declined more than anticipated in May. The manufacturing purchasing managers’ index dropped to 48.8 from April’s 49.2, falling short of the expected 49.4 and resulting in a sharp decline in oil prices. Read More…
Worries over opposition to a debt ceiling increase pressured equities on Equities, resulting in a mixed closing on Tuesday. However, the market received support from a surge in Nvidia shares, briefly propelling the chipmaker’s value to $1 trillion, a rare achievement. The S&P 500 index closed with minimal change but remained close to its highest Read More…
European equities experienced slight declines on Monday, while Eurozone bond yields decreased. However, the news of a debt ceiling deal in the US over the weekend maintained positive sentiment for Wall Street futures. US President Joe Biden and top congressional Republican Kevin McCarthy agreed on Saturday to raise the federal government’s $31.4 trillion debt ceiling Read More…
Currency futures fell as the dollar gained for the third consecutive week on Friday due to increased expectations of higher interest rates and ongoing discussions about the US debt ceiling. Talks between President Joe Biden and top congressional Republican Kevin McCarthy showed some progress and calmed investors. However, doubts remained about the timing of an Read More…
Optimism surrounding the US debt ceiling talks and strong economic data exerted downward pressure on gold, pushing it to a two-month low on Thursday. Safe-haven demand for bullion diminished as US President Joe Biden and top congressional Republican Kevin McCarthy neared a potential agreement to cut spending and raise the debt ceiling. The progress in Read More…
