Last week, U.S. stock markets experienced significant declines, influenced by inflation data and Federal Reserve comments, despite earlier gains. Gold prices rose due to geopolitical tensions, while corporate earnings growth forecasts were cut. Meanwhile, unemployment claims fell, suggesting job market resilience, and crude oil prices dropped amid supply concerns.
Amidst factors typically bearish for the precious metal, gold prices posted solid gains on Thursday.
Gold and silver prices are sharply higher in early U.S. trading Friday, following another downbeat economic report that falls squarely in the camp of the monetary policy doves, who want the Federal Reserve to lower interest rates sooner rather than later.
1. Stocks rebounded after their worst week since April. The megacap space rallied, with the Nasdaq 100 up 1.5%. Despite the recent slump that had some on Wall Street bracing for a summer correction, respondents to a survey expect earnings to reinvigorate the S&P 500. Sky-high valuations and seasonal weakness have incited some pullback warnings,…
Gold fell as geopolitical tensions eased in the Middle East, paring safe-haven demand, and traders looked ahead to U.S. data that will shed light on the outlook for monetary policy.
The U.S. economy added 187,000 jobs in August, while unemployment unexpectedly increased as the labor market continued to show signs of cooling, data from the Bureau of Labor Statistics showed Friday.
Some of the forecasters who were first out of the box to predict a U.S. recession are starting to hedge their bets as inflation ebbs and the economy remains resilient.
Geopolitical, economic, and environmental uncertainty can be expected to continue in the near term. Astute investors continue to seek out alternative investments for their portfolios to aid in diversifying them away from overexposure to any single asset class.
1. This week started the second straight session we saw stocks keep rallying as Big-Tech earnings loom. Traders also consider whether the Federal Reserve would slow its pace of interest-rate hikes after assessing weak economic data that was released today. More than 80% of stocks in the S&P 500 index closed in green on Monday,…
Astute investors continue to seek out alternative investments for their portfolios to aid in diversifying them away from overexposure to any single asset class.
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