On Wednesday, oil prices dropped over $5 due to a decline in fuel demand and a gloomier economic outlook. Both benchmark prices hit session lows, plummeting more than $5, while heating oil and gasoline futures also saw a more than 5% decrease. Since last week’s settlement, crude oil prices have fallen by approximately $10. The Read More…
US equities fell on Tuesday, reflecting concerns that the Federal Reserve may need to maintain high interest rates due to economic data. The S&P 500 index dipped to the lowest level since June 1. Meanwhile, the Dow went into negative territory for the year, ending at its lowest point since May 31. The Nasdaq also Read More…
US equities ended mixed on Monday, with the S&P 500 nearly flat and Nasdaq higher. Investors assessed the possibility of the Fed keeping interest rates high for an extended period. The Nasdaq increased as Nvidia’s shares rose by 2.9% after Goldman Sachs included the chipmaker in its list of preferred stock picks. Meanwhile, Fed Governor Read More…
On Friday, currency futures edged higher against a weakening dollar. Still, the dollar was poised to achieve its largest quarterly gain in a year, marking the 11th consecutive week of gains. Investors factored in the probability of a strong economy and sustained higher interest rates. Despite earlier setbacks, the greenback rebounded following data revealing an Read More…
Gold prices tumbled on Thursday as investors evaluated recent US economic data and awaited a crucial inflation report. They also closely watched Washington to see if US lawmakers could prevent a government shutdown. Gold also struggled due to soaring Treasury yields, which hovered near their highest levels in 16 years. This rise followed the Federal Read More…
Oil prices jumped 3% on Wednesday to the highest closing price in 2023 after a steep drop in US crude inventories increased fears of tight global supplies. According to government data, US crude inventories dropped by 2.2 million barrels to 416.3 million last week. The figure beat the 320,000-barrel drop forecast by analysts in a Read More…
