Oil prices set another 2023 high this week as concerns about a tightening market pushed the Brent benchmark crude close to $100 a barrel, complicating the Federal Reserve’s effort to bring down inflation ahead of the September policy meeting and raising fears that a U.S. recession might be still on the horizon. History shows that…
U.S. stocks were lower Tuesday afteroon, as oil prices and bond yields rose ahead of the Federal Reserve’s interest rate decision Wednesday. How stocks are trading The S&P 500 dropped 20.7 points, or 0.5%, to 4,432 The Dow Jones Industrial Average fell 200 points, or 0.6%, to 34,432 The Nasdaq Composite declined 47 points, or…
Gold prices rose again on Friday after hitting a three-week low earlier in the week, after a batch of U.S. inflation reports were seen as not alarming enough to force more immediate action from the Federal Reserve. Price action Gold futures for December delivery gained $8.30, or 0.4%, to $1,941 per ounce. Silver futures for…
Gold posted a gain on Thursday, a day after settling at its lowest price in three weeks, but strength in the U.S. dollar in the wake of an interest-rate hike and statement from the European Central Bank helped to limit the metal’s rise. Investors also looked to some fresh U.S. inflation data for hints on…
Oil futures traded higher early Tuesday, leaving the front-month contract within striking distance of its highest settlement level since November as investors awaited more U.S. inflation data and a European central bank decision on interest rates this week. Price action The front-month October West Texas intermediate contract CL.1, +1.26% CLV23, +1.26% rose 80 cents, or…
Instacart on Monday said it plans to offer 22 million shares at an estimated price of $26 to $28 per share with lead underwriters Goldman Sachs and JPMorgan in a bid to raise about $594 million in its upcoming initial public offering. The IPO adds the grocery-delivery name to an uptick in activity of late…
Central bankers like to focus on core inflation readings, which strip out food and energy prices, but that doesn’t mean that they, or investors, will be able to ignore a renewed surge in crude-oil prices. In a Thursday note, DataTrek Research observed that the correlation between energy prices and the core reading of the consumer-price…
Let’s begin with a 10-year price chart for Nvidia Corp. NVDA, -1.45% : FactSet Nvidia’s stock has more than tripled this year, closing at $462.41 on Thursday, after rising from $146.14 at the end of 2022. This movement has been driven by a dramatic increase in the company’s revenue as it has little competition for…
August was a hot month and it wasn’t just about the weather. Financial markets are now bracing for what’s likely to be a rebound in headline U.S. inflation next week, fueled by higher energy prices. Barclays BARC, +0.18%, BofA Securities BAC, +0.44%, and TD Securities expect August’s consumer price index to reflect a 0.6% monthly…
Gold futures traded mostly lower on Wednesday, stuck to a tight trading range following a loss in the previous session, as investors weighed overall strength in the U.S. dollar and looked for further hints on the Federal Reserve’s plan for interest rates. Price action Market drivers On Wednesday, gold investors looked to comments from Boston…
Global demand for platinum is expected to climb sharply this year, contributing to the largest annual deficit for the metal on record, according to a quarterly report from the World Platinum Investment Council released Wednesday. A combination of flat supply and strong year-on-year growth in demand is driving the more than 1 million-ounce deficit expected…
Oil prices have climbed to their highest levels of the year, buoyed in part by news that Saudi Arabia and Russia have extended their production cuts to the end of the year, even as demand uncertainty continues to hang over the market outlook. Some analysts believe the move by some of the world’s biggest oil…
Oil futures climb on Thursday, with bulls looking to salvage a monthly gain for crude as signs of tight supplies provided support. Price action West Texas Intermediate crude for October delivery CL00, +1.24% CL.1, +1.24% CLV23, +1.24% was up $1.31, or 1.6%, at $82.94 a barrel on the New York Mercantile Exchange. Front-month WTI futures…
Gold futures declined on Thursday as the Federal Reserve’s preferred inflation gauge showed an increase for July. Price action Gold for December delivery GC00, -0.13% GCZ23, -0.13% was down $4.20, or 0.2%, at $1,968.80 an ounce, after ending Wednesday at its highest since Aug. 4. Prices for the most-active contract were poised to log a…
U.S. natural-gas futures settled lower on Tuesday, on track to post a loss for the month, with Hurricane Idalia expected to have little impact on energy production as it remains on track to reach the Gulf Coast of Florida Wednesday. The hurricane, however, may dent power demand when the region shifts to recovery efforts later…
Gold prices traded marginally higher on Tuesday as traders set their sights on inflation and labor-market data due out of the U.S. later this week. Price action Gold futures for December delivery GC00, -0.09% GCZ23, -0.09% gained 40 cents, or less than 0.1%, to $1,947 per ounce on Comex. Silver futures for September delivery SI00,…
Citgo Petroleum Corp. and Florida officials have warned that fuel sold at stations supplied by Citgo’s Tampa, Fla. terminal may be “contaminated,” complicating efforts by citizens preparing for a hurricane expected to reach the Gulf Coast later this week. “It’s certainly not a good time for this to happen,” especially ahead of Tropical Storm Idalia,”…
There’s always a bull market somewhere — if you can find it. Keith McCullough encourages investors to join him in the hunt. You’ll need to be agnostic and open-minded, the CEO of investment service Hedgeye Risk Management says. If you’re wedded to U.S. stocks, or to the market’s latest darlings, you’re setting yourself up for…
Gold futures on Tuesday tallied a third straight session climb — the longest consecutive daily rise since mid-July. Moves in the U.S. dollar and Treasury yields continued to influence prices for the precious metal as investors await Friday’s speech by Federal Reserve Chairman Jerome Powell at the Jackson Hole, Wyo., economic policy symposium. Price action…
Oil futures rose Monday after ending a streak of seven straight weekly gains, with underlying support tied to production cuts led by Saudi Arabia. Price action West Texas Intermediate crude for September delivery CL.1, +0.09% CLU23, +0.09% rose 69 cents, or 0.9%, to $81.94 a barrel on the New York Mercantile Exchange after losing 2.3%…
As a rare Pacific storm bears down on Mexico and the U.S. Southwest, investors are reminded that the energy market may still see significant disruptions with hurricane season in the Atlantic having just entered its peak. Several developing weather systems having the potential to disrupt oil and natural-gas production, as well as refining activity, in…