On Thursday, gold continued its remarkable surge, supported by predictions for a pause in US rate hikes as US banking fears intensified a flight to the safe-haven metal. Wall Street dropped due to PacWest’s decision to look into strategic options. The news increased worries about the health of local banks and countered the optimism about Read More…
Oil prices fell 4% on Wednesday after the US Federal Reserve increased interest rates and as investors worried about the economy. Oil fell by 5% in the previous session, experiencing its largest daily percentage fall since early January. The Fed lifted interest rates by a quarter of a percentage point on Wednesday afternoon. This rate Read More…
US equities ended lower Tuesday due to concerns that the government would run out of money after June 1 without a debt ceiling increase. Bank stocks collapsed following the weekend failure of American regional bank First Republic Bank. Energy shares tumbled as oil prices fell by 5% to a five-week low amid Concerns about the Read More…
Wall Street equities ended slightly down, and Treasury yields rose as investors reviewed Monday’s data. They were awaiting Wednesday’s Fed’s interest rate decision and quarterly earnings reports. Data showed that the US manufacturing sector recovered from a three-year low in April as new orders and employment increased. However, the sector’s activity remained weak due to Read More…
Currency futures closed lower on Friday as the dollar rose. The US dollar increased due to statistics showing that US inflation increased in March. At its monetary policy meeting next week, the Fed is still on track to raise interest rates. The Bank of Japan announced it would retain its ultra-low interest rates as anticipated. Read More…
On Thursday, gold reversed course and fell as the dollar rose. Poor US economic data did not alter expectations of another interest rate hike. This is because inflation remained high. Data showed that the US gross domestic product expanded slightly slower than expected in the most recent quarter. The US government released a preliminary estimate Read More…
Oil fell by about 4% on Wednesday as concerns about the world’s largest economy’s impending recession deepened. Oil fell even after a survey revealed that US crude stocks decreased more than anticipated. Energy Information Administration data showed that US oil stockpiles declined by 5.1 million barrels last week to 460.9 million. It was above analyst Read More…
On Tuesday, US equities plunged, ending the day in the red, while Treasury yields fell. Investors fled for safe havens due to weak economic data and disappointing earnings. The session concluded with all three major indices down by 1% or more. The tech-heavy Nasdaq fell 2%, marking its largest one-day decline since March 9. Those Read More…
US equities shuffled to a mixed close on Monday, with interest rate-sensitive momentum shares weighing on the Nasdaq. Investors prepared for a week of significant quarterly results and eagerly awaited economic data. Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut, stated, “People are unsure about what this week holds, especially regarding earnings. Read More…
Currency futures diverged while the dollar rose on Friday after positive data confirmed rate hike expectations. S&P Global reported that the index of the US manufacturing and services sectors rose to 53.5 in April. It was the highest reading since last May, following a final reading of 52.3 in March. It conflicts with mounting evidence Read More…
