On Wednesday, oil prices declined slightly as investors took profits, following earlier gains driven by tighter US crude supplies and China’s commitment to boosting economic growth. Oil had risen by more than $1 a barrel but lost later in the session. Phil Flynn, an analyst at Price Futures Group, stated that market participants capitalized on Read More…
US equities made gains on Tuesday, partly fueled by strong bank earnings. The Dow was on track for its longest streak of daily gains in over two years. Morgan Stanley shares surged by 6.45%, marking their largest one-day percentage increase since November 9, 2020. The bank exceeded expectations, with growth in its wealth management business Read More…
On Monday, financial and technology shares boosted US equities, resulting in a higher closing for the day. Investors were eager for the upcoming quarterly results, marking the acceleration of the earnings season. This week, Tesla and Netflix are scheduled to report their earnings. Additionally, Bank of America, Morgan Stanley, and Goldman Sachs will post their Read More…
The US dollar rebounded on Friday after experiencing significant declines in the previous sessions. Investors were consolidating their losses before the weekend. However, the overall trend of the dollar remained negative. The Fed contributed to this downward trajectory as it is near the end of its rate hike cycle due to weakening inflation. Bloomberg dollar Read More…
Gold prices neared one-month highs on Thursday as the US dollar and Treasury yields declined. The declines reflected expectations that the US Federal Reserve would soon conclude its rate-hike cycle. The dollar index reached its lowest point in over a year, making gold more affordable for international buyers. Additionally, US Treasury yields fell, reducing the Read More…
On Wednesday, oil prices rose, and benchmark Brent futures surpassed $80 per barrel, reaching a level not seen since May. This increase was due to US inflation data, which raised hopes that the Federal Reserve might reduce the number of interest rate hikes planned for the world’s largest economy. Oil gains after US inflation (Source: Read More…
