US equities experienced a significant decline on Tuesday, and short-term Treasury yields surged as investor concerns heightened due to the lack of progress in US debt limit negotiations. Representatives from President Joe Biden’s administration and congressional Republicans concluded another round of talks on the debt ceiling on Tuesday. The deadline to raise the government’s borrowing Read More…
US Equities had a mixed finish on Monday as the Nasdaq benefited from gains in Alphabet and Meta Platforms, while the S&P 500 remained nearly unchanged. Investors chose not to make significant bets as they awaited fresh talks about raising the US debt ceiling. US President Joe Biden and top congressional Republican Kevin McCarthy scheduled Read More…
Most currency futures rose on Friday as the dollar dropped due to Federal Reserve Chair Jerome Powell’s unexpected dovish stance. Contrary to market expectations, Powell stated that the US central bank might not need to raise interest rates as much, considering the tightening of credit conditions. Additionally, the dollar faced pressure from a pause in Read More…
On Thursday, gold prices collapsed as robust US economic data diminished expectations of the Federal Reserve easing. Additionally, gold fell as the greenback received a boost from the anticipation of a US debt ceiling agreement, averting a potential default. A stronger dollar makes for more expensive gold for foreign buyers. Negotiations between the White House Read More…
Oil prices rose by approximately $2 on Wednesday due to positive expectations regarding oil demand and ongoing negotiations regarding the US debt ceiling. Despite concerns about an oversupply, the optimism surrounding a potential debt ceiling agreement lifted various asset classes, including oil. Jim Ritterbusch, the president of Ritterbusch and Associates, stated that the anticipation of Read More…
US equities ended lower on Tuesday due to Home Depot’s disappointing forecast and weaker consumer spending indicated by April’s US retail sales data. There were also uncertainties surrounding interest rates and debt limit negotiations. Home Depot’s annual sales forecast reduction and larger-than-anticipated profit decline caused its shares to drop by 2.15%. This drop significantly affected Read More…
