Global investment bank Goldman Sachs has sharply raised its year-end gold price forecast to $3,700 per troy ounce, up from its earlier estimate of $3,300, according to a report from Reuters, which cited the Wall Street giant’s latest commodity outlook. The bank attributes the bullish revision to stronger-than-expected central bank demand and mounting recession risks, … Read more
In just about three months since President Donald Trump returned to the White House, Wall Street has hemorrhaged a staggering $8 trillion in market value, a collapse that underscores the scale of economic turmoil unleashed by his aggressive trade policies. Even more alarming is that $5 trillion of those losses were incurred in just the … Read more
The dollar fell as the latest raft of US presidential election polling data showed no clear advantage between Kamala Harris and Donald Trump. Oil rose after OPEC+ delayed a hike in output. The greenback dropped against most major currencies such as the yen and the Australian dollar in early Monday trading, while 10-year Treasury futures … Read more
Three months ago, Wall Street punished the world’s largest technology firms for spending enormous amounts to develop artificial intelligence, only to deliver results that failed to justify the costs. Silicon Valley’s response this quarter? Plans to invest even more. The capital expenditures of the four largest internet and software companies – Amazon, Microsoft, Meta and … Read more
Wall Street closed lower on Wednesday, as climbing Treasury yields pressured megacap stocks and investors grew less confident about strong rate cuts from the Federal Reserve, while corporate news pressured McDonald’s and Coca-Cola. Benchmark 10-year U.S. Treasury yields reached a three-month high with investors reassessing the Fed rate-cut outlook over the next few months against … Read more
The benchmark S&P 500 and the Nasdaq traded near two-week lows on Wednesday as investors priced in a possible escalation in geopolitical tensions in the Middle East, while a survey allayed worries about a rapid cooldown in the U.S. labor market. Markets were wary as Israel and the U.S. vowed to strike back after Iran … Read more
Stocks in Asia declined after a rally on Wall Street halted within striking distance of its all-time highs.Shares fell in Japan, Australia and South Korea, after the US benchmark edged lower to end an eight-day winning streak. Chinese shares may decline after the Nasdaq Golden Dragon China Index fell 4.1% on Tuesday. Walmart Inc. is … Read more
Regulators in Asia have tightened the screws on trades popular among hedge funds as stocks slumped, an attempt to stabilize markets that some worry may end up stifling key strategies. Thailand’s plan to increase scrutiny on high-frequency trades — in effect from Monday — follows steps from China, where programmed trading will soon be subject … Read more
On Wednesday, US-based technology giant Nvidia Corp raced to the top of the global market-cap rankings, surpassing giants like Microsoft and Apple. With a market-cap of $3.335 trillion, Nvidia is now more valuable than some of the biggest global markets. ET Bureau Source link
The Dow Jones Industrial Average ended higher on Wednesday, stretching its winning streak to six straight sessions and closing above 39,000 points for the first time in five weeks, as investors kept betting on supportive U.S. monetary policy. The other Wall Street benchmarks cooled a touch as momentum stalled and U.S. Treasury yields rose on … Read more