Gold prices on track to rise for third day as markets cheer dovish Powell
Gold prices advanced on Wednesday for the third straight session as the U.S. dollar softened and Treasury yields declined, helping to bolster the relative attractiveness of the yellow metal. Price action Gold for April delivery GC00, +0.28% GCJ23, +0.28% gained $10.60, or 0.6%, to $1,895 per ounce on Comex. Silver for March delivery SI00, +1.10% […]
No wonder Powell didn’t commit to extra hikes. Here are five reasons the January jobs report may be too good to be true.
Traders took heart that Fed Chair Jerome Powell, when he wasn’t being questioned by David Rubinstein on how he gets by on $190,000 per year, didn’t commit on Tuesday to having to be even more aggressive on interest rates given the huge 517,000 surge in nonfarm payrolls. Powell said rates would have to go even […]
U.S. could be heading into period of ‘transitory disinflation,’ traders and strategists say
Hopes for a further decline in U.S. inflation this year are giving way to a risk seen in some corners of the financial market that any improvement in price gains will turn out to be fleeting.Strategists at JPMorgan Chase & Co. JPM, +1.22% and BofA Securities, along with Peter Schiff of Euro Pacific Asset Management, […]
Market Rally Stirs Concerns It Could Feed Inflation
MarketsFinanceEconomists disagree about importance of market-driven financial conditions relative to Fed’s interest rates Source link
Oil futures get lift on China demand hopes
Oil futures rose Tuesday, finding support as ongoing hopes a revival in crude demand from China run strong. A devastating earthquake that left thousands dead in Turkey and Syria and Turkey’s Ceyhan oil export terminal, with a capacity of 1 million barrels a day, was expected to be closed through Wednesday, Reuters reported. See: How […]
‘ChatGPT is today’s hand calculator,’ this CEO says
Will you be able to build the next blockbuster videogame at home using ChatGPT? Not so fast, says Take-Two Interactive Software Inc. TTWO, -3.40% Chief Executive Strauss Zelnick. But that doesn’t mean the technology lacks promise. Read: Take-Two stock slips as company plans cost cuts, outlook falls below Street view Zelnick said on his company’s […]
Koch brothers–founded group is pushing Republicans to turn the page on Donald Trump
The late David Koch, who died in 2019, is shown during a speech by then–Fed Chairman Ben Bernanke at the Economic Club of New York seven years earlier. Bloomberg WASHINGTON — A group funded by billionaire Charles Koch will work to support a Republican presidential nominee other than Donald Trump, concluding in a strategy memo that “we need […]
Gold prices finish higher after falling to a 3-week low
Gold prices finished a bit higher on Monday after tumbling to their lowest level in three weeks following Friday’s surprisingly strong jobs report, which helped send Treasury yields and the dollar higher to the detriment of the yellow metal. Price action Gold for April delivery GC00, +0.19% GCJ23, +0.19% rose $2.90, or nearly 0.2%, to […]
Flying-motorcycle maker loses altitude in stock debut
Aerwins Technology Inc.’s stock lost about 56% of its value on Monday after the blank-check company Pono Capital completed its acquisition of the maker of battery-powered flying motorcycles. Aerwins was valued at $600 million when Pono Capital announced plans to buy the company in September. The stock fell to $5 a share on Monday after […]
Gabbard, Kucinich aim to disrupt two-party voting system at Independent confab
Two former Democratic presidential candidates, Tulsi Gabbard of the 2020 race — and former longtime Ohio politician Dennis Kucinich, a 2004 and 2008 early contender for the White House — will headline the second-ever Independent National Convention (INC) this spring in Austin, Texas. It’s an event intentionally set during a non-election year because organizers argue […]