Wall Street’s main indexes achieved record-high closes, propelled by gains in Tesla and Micron Technology. U.S. inflation and jobless data have strengthened expectations for a Federal Reserve interest rate cut this month. The S&P 500, Nasdaq, and Dow all reached new peaks, with materials and healthcare sectors leading the gains.Read More
Gold prices increased on Friday, marking a potential fourth straight week of gains. This rise is due to concerns about the U.S. labour market, overshadowing inflation worries. The Federal Reserve is expected to cut interest rates next week. Weakening Treasury yields and a declining dollar also support gold.Read More
Oil prices dipped on Friday, extending losses from the previous session due to concerns about weakening U.S. demand and ample global supply. This overshadowed worries about potential supply disruptions from Middle East tensions and the Ukraine war. Increased OPEC+ output quotas, led by Saudi Arabia’s push for market share, further contributed to the price decline.Read More
The dollar faced pressure due to rising U.S. jobless claims, fueling expectations of Federal Reserve rate cuts. The dollar index declined, while Treasury yields edged up. Market anticipates a 25 bps rate cut. The Euro remained stable as traders adjusted bets on further ECB easing. The Australian dollar saw slight gains, while the yen remained steady after a U.S.Read More
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