Gold headed for a weekly loss, after solid US data in recent days reinforced the case for the Federal Reserve to keep rates elevated, denting the precious metal’s allure. A higher-for-longer rate environment is now looking increasingly likely after applications for US unemployment benefits fell to the lowest level...
U.S. stocks finished mostly lower on Thursday with the Nasdaq Composite leading the way down as investor sentiment cratered in the face of concerns that the Federal Reserve may keep interest rates higher for longer. The technology-heavy Nasdaq fell 123 points, or 0.9%, to end at...
Japan’s economy expanded at a slower pace than initially estimated as businesses cut back investment in plants and equipment and consumers spent less, an outcome that points to the fragility of the growth achieved last quarter. Gross domestic product grew at an annualized 4.8% from the previous three...
Oil headed for a weekly gain after OPEC+ leaders Saudi Arabia and Russia extended supply cuts through year-end and US inventories declined. West Texas Intermediate was steady near $87 a barrel, after retreating by 0.8% on Thursday as futures strayed into overbought territory. For the week, the US...
Oil edged lower after capping the longest winning run in more than four years as OPEC+ leaders extended supply cuts to the end of 2023. West Texas Intermediate fell toward $87 a barrel after posting nine straight daily gains, the longest stretch of advances since January 2019. That...
A buoyant dollar pushed the yen to a 10-month trough on Thursday and kept the euro and sterling pinned near three-month lows, as investors placed their faith in a still-resilient U.S. economy even amid a dour global growth outlook. The greenback scaled a fresh top of...
Nikkei Tokyo stocks ended higher on Wednesday, shrugging off falls on Wall Street as a cheaper yen supported the market. The benchmark Nikkei 225 index climbed 0.62 percent, or 204.26 points, to close at 33,241.02, while the broader Topix index was also up 0.62 percent, or 14.68...
Oil held gains after capping the longest winning run in more than four years as OPEC+ leaders extended supply cuts to the end of 2023 and industry estimates pointed to another draw in US crude inventories. West Texas Intermediate edged higher toward $88 a barrel after posting nine...
Gold steadied after dropping Wednesday as stronger-than-expected US economic data triggered bets that the Federal Reserve could hike interest rates again this year. The market-implied odds of a quarter-point Fed rate increase in November climbed to more than 50% after US service-sector activity rose sharply. At the start of...
Japanese stocks drop, as the Topix snapped an eight-day winning streak, after US peers fell on stronger-than-expected economic data that might suggest a further US interest rate hike by the Federal Reserve. Topix fell 0.2% to 2,387.38 as of 9:02 a.m. Tokyo time Nikkei declined 0.2% to...