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The major U.S. index futures are currently pointing to a lower open on Wednesday, with stocks likely to see further downside after starting the new year on a downbeat note. Concerns investors have become too optimistic about the likelihood of near-term interest rate cuts may weigh on the markets ahead of the release of the…

Base metals and gold edged lower as a stronger dollar added pressure to risk assets. ING said gold investors will be eyeing this week’s jobs data, with Fed policy likely to be led by key economic data releases. “We believe that the Fed policy will remain key to the outlook for gold prices in the…

Oil prices dropped, pressured by a broader fall in risk assets and despite a rise in Middle East tensions. “While the geopolitical situation is a concern for the oil market, a fairly comfortable oil balance over the first half of 2024 does help to ease some of these worries,” ING said.

The dollar hit a two-week high against a basket of currencies, reflecting a typical pattern of gains in January following losses in December, ING said. “The dollar strength in the early part of the year is often associated with the December tax flows by U.S. corporates being reverted,” it said. The dollar also gained as…

Equity-index futures were lower on Wednesday as investors remained wary ahead of the release of the Federal Reserve’s meeting minutes. Treasury yields continuing to move higher added to the cautious mood. Deutsche Bank said the rebound in yields reflects growing skepticism about the chance of near-term interest rate cuts by the Fed. “Clearly, investors are…

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