Gold closed higher Thursday as US Treasury yields retreated while investors absorbed mixed US economic data. US Economic Surprise Index (Source: Bloomberg) The US economy expanded at a faster-than-expected rate in the third quarter due to strong consumer spending and a strong labor market. Gross domestic product went up by 4.9% annually in the last Read More…
On Wednesday, oil prices increased by approximately 2% due to concerns about conflict in the Middle East. However, higher US crude inventories and gloomy economic prospects in Europe capped the gains. Price Futures analyst Phil Flynn mentioned that prices initially dropped during the session but rebounded due to increased geopolitical risks. WTI Futures (Source: Nymex) Read More…
Last week’s crude oil technical analysis indicated that the price was on the verge of breaking its upward trendline. The 38% Fib line from last July’s high was a key reference point. Bears targeted the point of control line at $80, while bulls aimed to maintain control above $82 and eyed a move to $95.03 Read More…
On Tuesday, equities rose thanks to strong corporate earnings and optimistic forecasts, boosting investor risk appetite and sparking a broad market rally. All three major US stock indexes moved higher, largely driven by large-cap companies sensitive to interest rates. Meanwhile, benchmark Treasury yields remained stable, comfortably below their recent peak at 5%. The third quarter Read More…
Introduction YM is flat year-to-date but is only 10% away from all-time highs. With most equity indices, YM’s low was back in October of 2022, which is exactly one year ago. The price rallied 25% from there before retracing 7% to current price levels. Weekly Chart YM has been between $28,679 and $36844 since the Read More…
US equities fluctuated and closed with mixed results on Monday as benchmark US Treasury yields dropped from 5%. Investors turned their attention to high-profile earnings and closely watched economic data for the week ahead. The S&P 500 index finished modestly lower, while momentum stocks sensitive to interest rates lifted the tech-heavy Nasdaq Composite Index higher. Read More…
