U.S. stock index futures traded largely steady on Thursday as investors awaited a fresh wave of corporate earnings amidst ongoing uncertainty over trade policies and Federal Reserve actions. At 05:45 ET (09:45 GMT), Dow Jones Futures dropped by 30 points, or 0.1%, S&P 500 Futures gained 6 points, or 0.1%, …
Read More »Bitcoin Holds Steady as U.S. House Advances Crypto Legislation Amid Volatility
Bitcoin remained largely steady on Thursday as the U.S. House of Representatives cleared a crucial procedural hurdle to open debate on a suite of crypto bills after a nine-hour deadlock. The world’s largest cryptocurrency traded 0.2% higher, reaching $118,747.50 as of 02:25 ET (06:25 GMT). Bitcoin had surged to record …
Read More »European Stocks Rise Amid Earnings Reports and Trade Uncertainty
European stocks experienced a positive rally on Thursday, with investors focused on a steady stream of new corporate earnings amidst ongoing uncertainty surrounding trade negotiations. At 03:15 ET (07:15 GMT), the DAX in Germany gained 0.7%, the CAC 40 in France rose by 1.2%, and the FTSE 100 in the …
Read More »Oil Prices Rebound on Strong Economic Data and Easing Trade Tensions
Oil prices saw a modest increase on Thursday, recovering from declines in the previous three sessions, driven by stronger-than-expected economic data from major oil consumers and signs of easing trade tensions between the U.S. and key global players. Brent crude futures rose by 24 cents, or 0.35%, to $68.76 per …
Read More »U.K. Labor Market Weakens as Unemployment Rises, Pay Growth Slows, Increasing Likelihood of Further Rate Cuts
The U.K. labor market showed signs of weakening in May, with the unemployment rate climbing to 4.7%, surpassing expectations and marking its highest level since June 2021. This increase was higher than the anticipated 4.6% for the period, signaling a slight deterioration in the labor market dynamics. Additionally, pay growth, …
Read More »Gold Prices Dip Amid Improved Risk Appetite and Stronger Dollar, While Uncertainty Over Tariffs Remains
Gold prices saw a slight decline during Asian trading on Thursday due to an improvement in risk appetite, following comments from U.S. President Donald Trump, who downplayed concerns that he would prematurely remove Federal Reserve Chair Jerome Powell. Despite this, the overall demand for gold remained relatively high, driven by …
Read More »US Producer Price Index (PPI) Data for June
Annual PPI for Final Demand: The PPI for final demand rose 2.3% year-on-year in June, marking a slight slowdown from the 2.6% increase recorded in May. This reading came in below the market expectation of 2.5%. Core PPI (excluding food and energy): The annual core PPI increased by 2.6% in …
Read More »Goldman Sachs Q2 Profit Jumps 22% Amid Strong Trading and Investment Banking Gains
Goldman Sachs reported a 22% increase in profit for Q2, driven by record equities trading revenue and a resurgence in investment banking activity. The strong results reflect how market volatility, partly fueled by trade policy uncertainties, has benefited Wall Street’s trading desks. Key Results: Profit: $3.7 billion, or $10.91 per …
Read More »European Shares Mixed Amid Trade Uncertainty and Earnings Reports
European stock markets showed mixed results on Wednesday, as investors reacted to weak earnings updates, trade negotiations, and corporate performance expectations. Key Market Movements: STOXX 600 Index: Fell 0.2% to 544.14 points. Germany’s DAX: Up 0.1%. Spain’s IBEX: Rose 0.7%. UK’s FTSE 100: Gained 0.2%. France’s CAC 40: Flat. ASML’s …
Read More »Gold Prices Edge Up as U.S. Inflation Data Fuels Dollar, Safe Haven Demand Remains Strong
Gold prices rose slightly on Wednesday, recovering some overnight losses after stronger-than-expected U.S. consumer inflation data boosted the dollar and dampened expectations of near-term interest rate cuts. However, ongoing uncertainties surrounding U.S. trade tariffs, the Federal Reserve’s independence, and geopolitical tensions continued to support demand for safe-haven assets like gold. …
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