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Gold and Base Metals Slightly Up
Base metals and gold rose slightly on a softer dollar, but weakening expectations of early interest-rate cuts this year continued to weigh on sentiment. “Concerns about resurging inflationary pressures due to geopolitical uncertainty in the Middle East, combined with a robust economy, suggest that the Fed may not need to rush into implementing monetary policy…
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Oil Prices Up Slightly
Oil prices inched higher following OPEC’s growth expectations for demand, and as Middle East tensions and a cold blast in the U.S. raised concerns over supply disruptions. “For now, the flat price remains firmly below $80/bbl and with the balance expected to be fairly comfortable over 1H24, significant upside is probably limited,” ING said.
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10-Year Treasury Yield Could Rise
The 10-year Treasury yield has scope to rise above the 55-day exponential moving average, which is currently at 4.163%, UOB Global Economics & Markets Research said. Price movements and technical signals suggest the yield could rise further, but upward momentum appears somewhat tentative, so it remains to be seen whether there’s sufficient momentum for the…
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Dollar Drops Slightly
The dollar edged slightly lower after strong gains on Wednesday but continued to trade on a strong footing due to rising yields spurring general risk-off sentiment in markets, Danske Bank Research said. “The general risk-off sentiment in markets alongside rising yields is adding support to the dollar for the time being.” However, since the euro…
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Stock Futures Higher On Dipping Treasury Yields
Stock futures inched higher on Thursday, as Treasury yields dipped and stress eased in Asian markets. “The recent very strong correlation between bonds and equities that started bearishly for both in August around the QRA [quarterly refunding announcement] and flipped bullish in October around the QRA, has flipped bearish again in 2024,” Deutsche Bank said.…
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Wall Street Highlights: Sheryl Sandberg Leaves Meta Board, Intel’s EU Dispute Developments, and More
In the pre-market on Thursday, U.S. index futures are showing slight variations, marking a pause after a three-day streak of continuous losses in the Dow Jones. At 05:35 AM, the Dow Jones futures (DOWI:DJI) fell 14 points, or 0.04%. S&P 500 futures rose 0.04% and Nasdaq-100 futures advanced 0.26%. The yield on 10-year Treasury bonds…
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US Futures, European Stocks Largely Flat
U.S. futures for the S&P 500 were up 0.1% and futures for the Dow Jones Industrial Average were flat. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 gained 0.1% in morning trading. Flutter Entertainment climbed 9.6% and Viaplay Group Series B rose 9.2%. On the…
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Top Company News of the Day: Hyundai, Kia, Tesla, Spotify, Boeing
Hyundai and Kia Emerge as Tesla’s Biggest U.S. Rivals A pair of allied Korean carmakers are pushing to launch electric vehicles ahead of competitors. Spotify Dominates Audio Streaming, but Where Are the Profits? The company has expanded beyond music to stay ahead but has struggled to make money. Boeing Secures Order for 150 MAX Jets…
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U.S. Stocks Move Mostly Lower As Data Adds To Interest Rate Uncertainty
After coming under pressure early in the session, stocks remained mostly lower throughout the trading day on Wednesday. The major averages added to the losses posted during Tuesday’s session, with the Dow falling to its lowest closing level in almost a month. The major averages regained ground going into the close of trading but remained…
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Crypto: RNDR, LINK, CHZ Emerge as Wednesday’s Top Performers, Ethereum Pilots Dencun Update, and More
Lesser-known tokens gain prominence in the crypto market While Bitcoin (COIN:BTCUSD) remains stagnant at $42,500, smaller tokens such as Chiliz (COIN:CHZUSD) and Klaytn (COIN:KLAYUSD) are gaining attention in the cryptocurrency market. CHZ, used to buy Fan tokens on Socios.com, rose 40.3% in the last 7 days. KLAY, supported by the giant Kakao, shows a weekly…