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Stocks rise on tech boost, but yields drop with oil prices
MSCI's global equity gauge rose on Monday as investors awaited?economic data, and Nvidia financial results. Meanwhile,?bond yields fell and oil prices dropped following a U.S. The threat to extend sanctions against Iran. The yields on U.S. 30-year and 10-year bonds fell for a second day in a row as traders weighed up the implications of U.S. Treasury Sec. Scott Bessent’s decision to increase Treasury buybacks last week. Bessent warned on Monday that countries would face secondary sanctions if they did not cut financial ties to Iran as part of the "economic D-Day." Oil prices dropped to a 1-week low on February 2, as traders saw economic pressures as less of a threat to oil supplies as compared to military escalation. Wall Street's heavyweight technology sector recovered some of its Monday losses ahead of Nvidia's release of their second-quarter results after the market closes on Wednesday. NVIDIA RESULTS PROVIDE FOCUS Tim Ghriskey said that technology is stronger after recent weakness. He noted that Nvidia's upcoming results were on the minds of investors. "Nvidia's price-to earnings valuation is down. Nvidia buyers are waiting for strong earnings reports. Nvidia helps to lift the rest of tech market." The strategist said that Treasury yields "moved in the opposite direction they had been moving, which is positive for stock market", but the movement was modest. The Dow Jones Industrial Average rose by 160.24 points or 0.30% to 53,577.40. The S&P 500 gained 24.42 points or 0.32% to 7,677.28. And the Nasdaq Composite grew by 171.11 or 0.66% to 26,151.30. The MSCI index of global stocks rose 4.77 points or 0.42% to 1,150.00. The STOXX 600 pan-European index closed earlier up by 0.35%. MSCI's broadest Asia-Pacific share index outside Japan closed at 1,642.24, up 0.56%, while Japan's Nikkei gained 328.34, or?0.50% to 65,856.43. The yield on the benchmark 10-year U.S. notes dropped 7.92 basis point to 4.625% from 4.704% at the end of Monday, while the yield on the 30-year bond fell 6.9 basis point to 5.162%. The yield on the 2-year note, which is usually in line with expectations of interest rates from the Federal Reserve fell by 5.98 basis points, to 4.176%. The U.S. Dollar was virtually unchanged among currencies as investors considered Washington's expanded sanctions on Iran and renewed attempts to ease the pressure on longer-dated Treasury rates. The dollar index (which measures the greenback in relation to a basket of currencies, including the yen, the euro and others) fell by 0.1%, falling to 98.87. Meanwhile, the euro rose 0.13%, reaching $1.1677. The dollar gained 0.03% against the Japanese yen to 159.13. Bitcoin fell 0.04%, to $78,893.30. It had earlier crossed above $80,000 for the first since mid-May. Energy markets saw U.S. Crude settle down 3.12% or $2.65 at $82.36 per barrel while Brent settled at $88.58 a barrel, down 3.89% or $3.59. Gold prices rose slightly on Tuesday, after reaching a three-month high in the previous session. The rally slowed near a psychologically important level as investors waited to see the preferred inflation gauge from the U.S. Federal Reserve on Wednesday. Gold spot rose by 0.31%, to $4665.86 per ounce. U.S. Gold futures dropped 0.23% at $4,630.00 per ounce. Reporting by Sinead carew in New York; Marc Jones in London; Rae Wee, in Singapore. Editing by Barbara Lewis, Lisa Shumaker.
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U.S. Secret Service is aware of Iranian video threats against Barron Trump
A spokesperson for the U.S. Secret Service said that they were aware of a video broadcast by Iranian state TV discussing a possible plot to assassinate U.S. President Donald Trump's son. The U.S. Secret Service has been made aware of this video, and it investigates any information that could be interpreted as a threat to our protected individuals. We do not discuss 'protective intelligence' due to concerns about operational security. Secret Service spokesperson Nate Herring explained this in an email. A?three minute video broadcast by Iranian State?TV discussed a possible?plot for assassinating Barron Trump, 20. The video claimed that he was under surveillance and that a bounty of $10 million had been offered to kill him. The United States and Iran have maintained hostile rhetoric throughout a six-month war that began in February by the U.S. The'reporter' earlier this month said that the U.S. received warnings over the last year from Israel, including before an alleged ruse involving Air Force One in Turkey. Trump has described himself as the "number 1 on the kill-list for Iran."
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Gold prices continue to rise after a 3-month high ahead of US inflation data
The gold price held steady on Tuesday, after reaching a three-month high in the previous session. This was due to the fact that the rally lost steam near a psychologically important level of resistance and before the release this week of the preferred inflation gauge by the U.S. Federal Reserve. By 2:16 p.m. ET (1816 GMT), spot gold had fallen 0.1% to $4,647.03 an ounce after reaching its highest level since the 14th of May. U.S. Gold Futures?settled at $4,694.50, a 0.1% decrease. "I believe this is a simple drop in momentum." Bart Melek is the global?head for commodity strategy at TD Securities. Bullion reached $4,696.18 per ounce on Monday as investors continued to analyze the recent U.S. Treasury Department decision to double its liquidity support?operations to buy back longer-dated bonds and notes, which drove the dollar down to a 3-month low. The markets are now focused Wednesday's U.S. The July Personal Consumption Expenditures report (PCE), and Fed Chair Kevin Warsh’s remarks at the Jackson Hole Symposium on Friday, will provide further insight into the central bank's monetary policies outlook. The Fed is tracking PCE data to achieve its 2% inflation target. However, the soft figures for producer and consumer prices this month have reduced chances of an imminent rate increase in the U.S. According to the CME FedWatch Tool, traders are only pricing in a 38% chance of an interest rate increase in September. In an environment of high interest rates, gold loses its appeal as it doesn't yield any interest. Data released on Tuesday showed that China's net imports of gold via Hong Kong in July increased by about 11% compared to a month ago, mainly due to an increase in investment demand. Iran has pledged on the geopolitical side to fight back at the expanded U.S. sanctions aimed at isolating the Iranian economy. It expressed a?confidence in the major trading partners to?resist this pressure campaign, and said that Washington wanted to revive the talks. Silver spot fell by 0.1%, to $68.86 an ounce. Platinum dropped by 1.2%, to $1,854.47. Palladium, at $1,332.43, was down 1.8%. (Reporting and editing by Nick Zieminski, Shailesh Kumar, and Pablo Sinha from Bengaluru)
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Stocks rise on tech boost, but yields drop with oil prices
MSCI's global equity gauge rose on Monday as investors awaited the release of economic data and Nvidia's results. Bond yields fell?and oil price dropped following a U.S. warning to 'expand' sanctions against Iran. The yields on U.S. 30-year and 10-year bonds fell for a second consecutive day as traders weighed up the implications of U.S. Treasury Sec. Scott Bessent’s decision to increase Treasury buybacks last week. Bessent, in what was dubbed "economic D-Day," warned on Monday that countries should cut off their financial ties to Iran or else face secondary sanctions. Oil prices dropped to their lowest level in a week on Tuesday, as traders saw economic pressure as a greater threat to oil supplies than military escalation. Wall Street's heavyweight tech sector is poised to recover some of its losses from Monday, before the release of Nvidia's second-quarter results after the market closes on Wednesday. NVIDIA RESULTS PROVIDE FOCUS Tim Ghriskey said that technology is stronger after recent weakness. He noted that Nvidia's upcoming results were on the minds of investors. "Nvidia's price to earnings ratio has dropped. Buyers of?Nvidia are here, looking for a good earnings report. Nvidia helps to lift the rest of tech market." The strategist said that Treasury yields "moved in the opposite direction?they had been moving, which is positive for stock markets," but that this move was modest. At 11:19 am. At 1519 GMT (1519 ET), the Dow Jones Industrial Average rose by 61.73, or 0.12% to 53,479.37. The S&P 500 gained 12.47, or 0.16% to 7,665.33, and the Nasdaq Composite increased by 102.64, or 0.39% to 26,082.83. The MSCI index of global stocks rose by 3.08 points or 0.27% to 1,148.31. The pan-European STOXX 600 rose by 0.37%. MSCI's broadest Asia-Pacific share index outside Japan closed at 1,642.24, up 0.56%, while Japan's Nikkei gained?328.34 or 0.50% to 65,856.43. The yield on the benchmark 10-year U.S. notes dropped 5.55 basis points from late Monday to 4.649%. The 30-year bond rate fell by 5.04 basis points, to 5.1806%. The yield on the 2-year note, which is usually in line with expectations of interest rates from the Federal Reserve, dropped 3.64 basis points, to 4.2%. The U.S. dollar was about the same as other currencies as investors considered Washington's increased sanctions against Iran, and new efforts to ease pressures on longer-dated Treasury rates. The dollar index (which measures the dollar in relation to a basket of currencies, including the yen, the euro and others) fell by 0.01%, while the euro rose by 0.07%, reaching $1.167. The dollar gained 0.11% against the Japanese yen to reach 159.25. Bitcoin gained 0.40%, reaching $79237.31, after crossing the $80,000 mark for the first since mid-May. On the energy market, U.S. Crude fell by 3.05%, to $82.42 per barrel. Brent was down to $89.20 a barrel, a drop of 3.22% for the day. Gold prices fell slightly on?the day after reaching a three-month high in the previous session. The rally lost steam near a psychologically important resistance level, and before the release of the preferred inflation gauge by the U.S. Federal Reserve on Wednesday. Spot gold dropped 0.28% to $4.637.94 per ounce. U.S. Gold Futures fell by 0.23%, to $4630.00 per ounce. (Reporting from Sinead carew in New York; Marc Jones in London; Rae Wee, in Singapore. Editing by Andrew Heavens and Nick Zieminski.
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Gold prices continue to rise after a 3-month high ahead of US inflation data
Gold prices held steady on Tuesday, despite reaching a three-month high earlier in the session. The rally lost steam near a psychologically important resistance level ahead of this week's release of the preferred inflation gauge by the U.S. Federal Reserve. Gold spot was unchanged at $4.652.26 an ounce as of 1547 GMT (11.47 am EDT) after reaching its highest level since 14 May. U.S. gold futures increased 0.2% to $4 709.40. "I believe this is just a loss of momentum." Bart Melek said that you could 'probably attribute this drop to gold reaching a strong level of resistance at $4,700, or so. Bullion reached $4,696.18 per ounce on Monday as investors analyzed the recent U.S. Treasury Department decision to double its liquidity support and buyback operations of longer-dated bonds and notes, which drove the dollar down to an almost 3-month low. The markets are now focusing on Wednesday's U.S. The July Personal Consumption Expenditures report and Kevin Warsh’s remarks on Friday at the Jackson Hole Symposium will provide further insight into the central bank’s monetary policy outlook. The Fed is tracking PCE data to achieve its 2% inflation target. However, the soft figures for producer and consumer prices this month have reduced chances of an imminent rate increase in the U.S. According to the CME FedWatch Tool, traders are only pricing in a 38% chance of an interest rate increase in September. In an environment of high interest rates, gold loses its appeal as it doesn't yield any interest. Data released on Tuesday showed that China's net imports of gold via Hong Kong in July increased by about 11% compared to a month ago, mainly due to an increase in investment demand. Iran has pledged on the geopolitical side to fight back at the expanded U.S. sanctions aimed at isolating the Iranian economy. It expressed a?confidence in the major trading partners to?resist this pressure campaign, and said that Washington wanted to revive the talks. Silver spot fell by 0.2%, to $68.77 an ounce. Platinum dropped by 1.1%, to $1,855.32, while palladium fell 1.8%, to $1333. (Reporting and editing by Nick Zieminski, Shailesh Kumar and Pablo Sinha from Bengaluru)
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State health department reports two deaths from measles, in Pennsylvania
Health officials announced on Tuesday that two Pennsylvania residents had died from measles. This is the first death in the state in 35 years. 393 cases have been reported in 28 counties in 2026. According to the Pennsylvania Department of Health (Pennsylvania Department of Health), both people were unvaccinated residents of Lancaster County. The department did not release any additional information, citing concerns about privacy. Debra Bogen, Secretary of Health said: "Because the measles was largely eradicated in the Commonwealth for over three decades, the public is not familiar with the disease and does not fully understand its potential severity." The Centers for Disease Control and Prevention reported 2,777 confirmed cases of measles in the United States as of August 20, 2018. The '2026 figures' represent the most U.S. cases ever recorded in one year, since the resurgence between 1989 and 1990. This period saw more than 55,000 infections with 123 deaths. The Department of Health and Human Services in the United States did not respond immediately to a comment request.
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Andy Home: Chinese exports ease the pain of London zinc shorts
London's zinc market is still a hazardous place for bears. Metal that was expected to drop in price this year has risen. The London Metal Exchange's (LME) 3-month zinc reached a new four-year high of $3,858 a metric ton on Tuesday morning. The relentless rally has been accompanied by an abrupt contraction of the LME time spreads. This is particularly worrying for holders of zinc short positions. The premium for cash Metal?over a three-month delivery The price of a ton has dropped to $131, which is a significant drop from last October's record high of $323. The tightening market this year is due to the low?LME inventories that were the cause of the last year's shortage. Help is on the way for LME shorts. China has begun lifting exports and dispatching metal directly to LME Hong Kong warehouses. A Tale of Two Markets Zinc demand is not a booming industry. According to the International Lead and Zinc Study Group, global consumption grew modestly by 1.5% from January to may. The Group assessed a global surplus of 145,000 tons of refined metals in the first five month of the year, based on a 3.5% increase in output. However, the catch is that, just like last year, the majority of the growth in refined production came from China. Western smelters are facing extreme margin pressure as a result of the decline in treatment terms. The majority of surplus metal is therefore also found in China. Since the beginning of January, the stocks registered at the Shanghai Futures Exchange has more than doubled. LME stock, including those in off-warranty storage, is still?6,500 tonnes lower at 124.677 tons, despite recent daily deliveries to LME warehouses. HONG KONG FAST TRACK Since the beginning of last week, there have been daily warranting actions as the LME premiums for cash deliveries are increasing. The volumes have been modest, totalling?17,000 ton. However, they are enough to stabilize the on-warrant stock at around 95,000 tons. The number of off-warrant stock has increased from a low in July,?15.480 tons, to 29,627 tonnes. Hong Kong holds 5,000 tonnes of off-warrant stock and has delivered around two-thirds (?around) of the LME deliveries. Hong Kong was approved by the LME for good delivery only in July last year. But it is already acting as an arbitrage conduit. China has been historically a major importer of zinc refined. As recently as 2024, volumes reached as high as 445 000 tons. The country's smelter capacity is now so large that it is close to self-sufficiency. Imports dropped by one-third to 299,000 tonnes last year. China became a net exporter both in November and December. It delivered metal to LME storage facilities in Singapore and Taiwan in order to take advantage of the London market's cash crunch. Shanghai Metal Market (SMM), a local data provider, reports that the country became a net exporter in July with shipments of 9,200 tonnes and imports continuing to fall. This time, the pace of arrivals has clearly slowed down. So far. Turning Bullish Bulls bet that even China's Smelters will need to reduce operating rates due to the bombed out treatment charges. There are many zinc bulls in town. Over 110,000 tons have been accumulated by investment funds, the largest collective bet on higher prices since LME began publishing its position reports in 2018. The LME option market also shows a renewed interest in zinc. On the LME options market, there are nearly 1,500 open lots for December calls with a strike of $4,000 per tonne and another 757 lots at $4,500 per tonne. The bull story is that of limited mine supply. Global mine production increased by 4.8% in 2013 after three years of decline. ILZSG reports that the growth has slowed to only 1.1% between January and May this year. According to SMM, the competition for mined concentrats is so fierce that spot-treatment charges for Chinese imports have now reached a new record low of minus $117.50 a ton. China's smelters continue to?fight on. According to ILZSG, growth was "significant" for the first five months in 2026. LME bulls, and more importantly, LME short position holders, will need to know just?how important'. Andy Home is a columnist at. This column is great! Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
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Gold's upward momentum pauses ahead of US inflation data
Gold fell?on Tuesday, after reaching a more than 3-month high earlier in the session. The rally lost momentum as it approached a psychologically important resistance level. This was also ahead of this week's release of the preferred inflation gauge by the U.S. Federal Reserve. By 1334 GMT (9.34 am EDT), spot gold had fallen 0.6% to $4,622.01 an ounce after reaching its highest level since the 14th of May. U.S. gold ?futures fell 0.4% at $4,678.10. "I believe this is a simple drop in momentum." Bart Melek is the global?head for commodity strategy at TD Securities. Bullion reached $4,696.18 per ounce on Monday as investors continued to analyze the recent U.S. Treasury Department decision to double its 'liquidity support buyback operation' for longer-dated bonds and notes, which drove the dollar down to a 3-month low. The markets are now focusing on Wednesday's U.S. The July Personal Consumption Expenditures report (PCE), and Fed Chair Kevin Warsh’s remarks at the Jackson Hole Symposium on Friday, will provide further insight into the central bank’s monetary policy outlook. Fed is tracking the PCE data for its 2% target inflation, but this month's soft consumer and producer inflation numbers have reduced chances of an imminent rate hike in the U.S. According to the CME FedWatch Tool, traders are only pricing in a 38% probability of an interest rate increase in September in the United States. In an environment of high interest rates, gold loses its appeal as it doesn't yield any interest. Data showed that China's net imports of gold via Hong Kong rose by 11% in July compared to a month earlier, mainly due to an increase in investment demand. Iran has pledged on the geopolitical side to fight against the?expanded U.S. Sanctions aimed at isolating its economy. It expressed confidence that the major?trading partner would resist this pressure campaign, and said that Washington was eager to revive the talks. Silver spot fell by 1.7%, to $67.76 an ounce. Platinum dropped 2%, to $1,837.94 and palladium fell 2.8%, to $1,319.50. (Reporting and editing by Nick Zieminski in Bengaluru)
Sources say that the Brazilian government will extend its gasoline subsidy to September 9.
Two sources close to the matter said on Tuesday that Brazil's government will extend its gasoline subsidy of 0.44 reais per liter ($0.0855) until September 9.
The subsidy that was paid to gasoline importers and producers after the U.S. - Iran conflict began in the Middle East was to end on Wednesday.
The last time the subsidy was extended by President Luiz inacio Lula's administration was on July 26, for an additional 30 days.
This time, the government was unable to extend 'the benefit by another month as?the decree of the president allowing its creation expires September 9 and Congress approval is still pending.
The local newspaper Valor Economico reported on the plan of the government earlier Tuesday, citing an anonymous source from the Finance Ministry. The ministry declined comment.
The?government decided in June to remove part of the diesel subsidy as oil prices fell and tensions lowered in the Middle East. However, this external relief was only temporary, given the ongoing conflict.
Subsidies and other measures, including those aimed at fuel, are part of a broader relief plan set up by?Lula after the beginning of the war in Iran. The leftist leader wants to run for a fourth four-year term at the upcoming presidential elections in October. $1 = 5.1469 Reais (Reporting and writing by Fabio Cardoso and Fernando Cardoso in Sao Paulo and Bernardo Caram, in Brasilia; editing by Oliver Griffin and Kyra Madry).
(source: Reuters)