On Wednesday, oil prices dropped by approximately 1% due to two factors. Firstly, data revealed that US crude inventories fell less than anticipated. Secondly, the Federal Reserve raised interest rates by 0.25 percentage points. Earlier in the session, oil experienced a decrease of more than $1, despite reaching three-month highs on Tuesday. WTI futures (Source: Read More…
US equities ended Tuesday higher as The Nasdaq, a technology-heavy index, drove gains. Investors were excited about artificial intelligence, anticipating earnings reports from tech giants Alphabet and Microsoft. Both Alphabet and Microsoft have introduced various AI products since the release of ChatGPT by OpenAI, which is backed by Microsoft. These new products offset the slowdown Read More…
On Monday, the Dow Jones Industrial Average led the upward trend on Wall Street, achieving its longest winning streak in six years. Investors showed confidence in various sectors, not just technology, amidst a week filled with earnings reports and a Federal Reserve meeting. They are eagerly anticipating the earnings of Microsoft, Google-owner Alphabet, and Meta Read More…
Currency futures fell on Friday as the dollar rose amid expectations of a Fed rate hike. The dollar recovered from its July lows in the last week. Dollar spot index (Source: Bloomberg) This week, central bank meetings will occur in the United States and Europe, with the Fed and the European Central Bank expected to Read More…
On Thursday, gold prices retreated from a two-month high due to a rise in the dollar and bond yields. However, the decline was limited as hopes persisted for a potential pause in US Federal Reserve rate hikes after the July meeting. According to David Meger, director of metals trading at High Ridge Futures, the rebound Read More…
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…
