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On Tuesday, major stock indexes declined while yields on longer-dated U.S. Treasury bonds increased. Investors were focused on U.S. financial concerns as Congress discussed a bill to cut taxes. The S&P 500 Snapped a six-day Streak of gains The U.S. president Donald Trump tried to get his fellow Republicans to support the bill. However, he struggled to persuade a few holdouts. This package would, among other things, extend his 2017 tax cuts. Investors are concerned that the bill could lead to a higher budget deficit in the United States than expected. Moody's Investors Service lowered the U.S. Credit Rating late...

The major stock indexes showed mixed results on Tuesday with U.S. shares easing, but U.S. Treasury Yields rising as investors focused their attention on the critical U.S. Presidential vote that took place in Washington. Donald Trump Tax cuts for all. Go to Capitol Hill urged Republican legislators to settle their differences on a bill to extend tax cuts for 2017 from Trump's initial term. Investors worry that the bill could increase the U.S. deficit faster than expected. Moody's Investors Service, a credit rating agency in the United States, downgraded its credit rating on Friday evening. This sparked concerns over the...

The dollar weakened on Monday as the yields of longer-dated Treasury bonds rose, amid worries about the U.S. government's debt and the tax cut bill following Moody's decision to downgrade the country's credit rating. The major U.S. stock indexes recovered early losses and ended the day in a flat or slightly higher range. Moody's Investors Service lowered the United States' sovereign rating to triple-A late on Friday night, underscoring the country's worsening fiscal outlook. A key congressional committee approved the massive tax-cutting bill of U.S. president Donald Trump on Sunday. Republicans in the U.S. House of Representatives, who currently control...

The yields on longer-dated Treasury bonds rose, while the global stock indexes fell and the dollar weakened Monday. This was due to concerns over a U.S. federal tax bill, the U.S. government's debt and Moody's decision to downgrade the U.S. sovereign rating. Moody's Investors Service lowered the United States' sovereign rating to "Aaa" late on Friday night, bringing attention to the country's worsening fiscal outlook. A key congressional committee approved the massive tax-cut legislation of U.S. president Donald Trump on Sunday. Republicans in the U.S. House of Representatives, who currently control it, will push for the bill's passage this week....

The oil prices fell on Monday due to the downgrade by Moody's of the U.S. government's sovereign credit rating, and data from China that indicated a slowdown in industrial production and retail sales. Brent crude futures for the front-month fell 35 cents or 0.5% to $65.06 per barrel at 0440 GMT, while U.S. West Texas Intermediate Crude dropped 26 cents or 0.4% to $62.23 per barrel. The front-month WTI contract expires Tuesday, and the more active July contract dropped 31 cents or 0.5% to $61.66 per barrel. Both contracts increased by more than 1% in the last week, after the...

Wayne Cole gives us a look at what the future holds for European and global markets. A miss in China's retail sales has been the biggest disappointment of the day for Asia. It shows how far China still needs to go to move away from export-driven economics to one that is driven by domestic demand. Beijing doesn't seem to want to change this. It's clear that consumers in China aren't buying. Donald Trump tells Americans that they will have to do without dolls and pencils while promoting trade policies which indirectly force Chinese consumers to purchase more. Treasury Secretary Bessent...

Wall Street fell on Friday, but global stocks were still set to gain weekly gains as positive earnings helped sustain the rally that was sparked by an agreement between the U.S. and China. Oil prices are still low and continue to support stocks and bonds. A University of Michigan study showed that U.S. consumers' sentiment continued to deteriorate in May, as inflation expectations for the next year increased. Households remained worried about the impact of President Donald Trump’s aggressive and often erratic trading policy. The yields on U.S. Treasuries dropped after data showed that housing starts were lower than expected....

Sultan al-Jaber of the UAE oil company ADNOC said that the United States and United Arab Emirates intend to invest a total $440 billion over the next decade in the energy industry. Donald Trump, the U.S. president, announced over $200 billion in deals with the UAE as part of his tour of Gulf nations. In March, senior UAE officials had already met Trump and committed to a 10-year investment framework of $1.4 trillion in the United States in order to strengthen reciprocal relations. In a Friday statement, the White House stated that the framework would "substantially" increase UAE investments in...

Oil fell over 2% Thursday, as a possible U.S. Iran nuclear deal increased the possibility of an increase in global crude supply. Wall Street indexes traded mixedly during choppy trading. European shares ended higher after reversing losses. Corporate earnings were in the spotlight and gold prices rose over 1%. Data on Thursday showed that U.S. producer price fell unexpectedly and retail sales were mixed. Emerging market stocks declined, but global equities increased by 0.3%. In his opening remarks to a two-day event, Jerome Powell, the chair of the U.S. Federal Reserve, said that they felt it necessary to reconsider their...

Oil fell over 2% Thursday, as a possible U.S. Iran nuclear deal increased the prospect of an increase in global crude supply. Wall Street indexes traded mixedly during choppy trading. European shares rose, as corporate earnings were in the spotlight. Gold prices also increased by more than 1%. Global stocks gained 0.24%. Emerging market stocks slipped. In his opening remarks to a two-day event, Jerome Powell, the chair of the U.S. Federal Reserve, said that they felt they needed to reconsider their current approach in monetary policy. This includes both inflation and jobs. The prospects of a breakthrough in peace...

Five trading sources who are familiar with the loadings for June have estimated that Black Sea CPC blend crude oil exports will be between 1.6 and 1.7 million barrels a day (bpd). The exports in May will be approximately 1.5 million bpd higher at that level. According to sources in the trade, around 90% of CPC Blend is exported from Kazakhstan. The remainder comes from Russian production. Kazakhstan's oil production has been a major point of contention within the OPEC+ Group, since it has consistently exceeded its production quotas over the past year. Kazakhstan's Energy Ministry said this month, despite...

The U.S. Environmental Protection Agency sent a proposal rule to the White House, asking for its review. It outlines the amount of biofuels that oil refiners will have to blend into their fuel starting in 2026. Since President Donald Trump's inauguration in January, the politically powerful oil and fuel lobbies have been waiting for this proposed rule. This will be the first opportunity for the Republican President to demonstrate his support for the biofuels policies, which have historically pitted Big Oil against the Farm Belt. This dynamic changed in the run-up to the proposed rule. A coalition of oil and...

A senior executive from Japan's Nippon Steel said that the company is committed to acquiring a 100% stake in U.S. Steel. The company also wants to meet with U.S. Treasury Sec. Scott Bessent, to clarify Donald Trump's stance regarding the deal. The deadline is May 21 for the steelmakers to complete a new national security review of the proposed merger of $15 billion by the Committee on Foreign Investment in the US. Former President Joe Biden had blocked the merger in January on national security grounds following an earlier review. Trump ordered the CFIUS in April to reassess this deal,...

Tuesday, gold prices increased by more than 1% as the U.S. Dollar continued to weaken. Meanwhile, uncertainty remained over U.S. Tariff Policy and the Russia-Ukraine truce. Gold futures in the U.S. were up 1.5% at $3283.10 an ounce at 1049 ET (1449 GMT) while spot gold rose 1.6% to $3280.32. The dollar fell again on Tuesday due to the Federal Reserve's cautious stance on the economy. It had already fallen on Monday, after the ratings agency Moody's had downgraded U.S. sovereign credit rating last week. The dollar is weaker, making bullion more affordable for buyers of other currencies. There's still...

Hindalco Industries reported a fourth-quarter profit that was above analyst estimates on Tuesday. The surge in commodity price is largely responsible for this. The company's net profit for the three months ended March 31 rose to 52.83 trillion rupees (618.05 million dollars). According to LSEG data, analysts had predicted, on average 44.97 billion rupies. Aditya Birla Group's company has benefited from the higher prices of copper and aluminium. During the quarter, benchmark prices for aluminium and Copper rose by 17% and 10% respectively. Mining companies tend to see their margins and selling prices increase as commodity prices rise. Hindalco’s copper...

The gold price fell on Tuesday as the slightly stronger dollar and optimism about a possible ceasefire between Russia, Ukraine and Ukraine dampened investor interest in safe-haven assets. As of 0427 GMT, spot gold was down by 0.5%, at $3,213.35 per ounce. U.S. Gold Futures fell 0.6% to $3215.50. Dollars have recovered slightly after hitting a low of more than a week in the previous session. This makes gold priced in greenbacks less attractive to those who hold other currencies. Kyle Rodda, financial analyst at Capital.com, said that the initial shock of the U.S. downgrade has worn off. There is...

The gold price fell on Tuesday as the slightly stronger dollar and optimism about a possible ceasefire between Russia, Ukraine and Ukraine reduced investor demand for safe haven assets. As of 0210 GMT, spot gold was down 0.4% to $3,215.31 per ounce. U.S. Gold Futures fell 0.5% to $3218.40. Dollars have recovered slightly after hitting a low of more than a week in the previous session. This makes gold priced in greenbacks less attractive to those who hold other currencies. Kyle Rodda, financial analyst at Capital.com, said that the initial shock of the U.S. downgrade has worn off. There is...

The U.S. Army Corps of Engineers has issued the final federal permit to Perpetua Resources for its Idaho antimony-and-gold Stibnite Project. In March, President Donald Trump used emergency powers to increase domestic production of vital minerals. This was part of an effort to counter China's near total control of this sector. The White House announced in April that it would expedite the permitting process for 10 mining projects throughout the United States as part of President Donald Trump’s efforts to increase critical minerals production. The Pentagon-backed project would be the first antimony mine in the country. Its estimated reserves are...

Gold prices rose on Monday as a result of a weaker dollar and heightened demand for safe-haven assets after Moody's lowered the credit rating of the U.S. Government. Spot gold increased 1% to $3.234.70 per ounce at 1050 ET (1450 GMT). U.S. Gold Futures rose 1.6% to $3237.80. Moody's downgraded the United States' credit rating from "Aaa to "Aa1 on Friday, citing "significantly higher debt and interest rates than similar rated sovereigns". "Overall, I think that gold will be a safe investment over the next few weeks considering the downgrade of the United States. Bob Haberkorn is a senior market...

The metals industry will gather in Hong Kong to celebrate its annual event. They'll be focusing on the huge amounts of copper that are being diverted from the U.S. because President Donald Trump has threatened to impose tariffs. Trump's attempts to overturn the post-war system of trading have caused metals markets to roil and raised questions about global growth and commodity flows. In February, Trump ordered an inquiry into potential tariffs on copper. Copper is vital to energy transition technologies like electric vehicles and solar panel technology as well as power grid wiring. The possibility that Trump would impose tariffs...

The threat of a tariff by U.S. president Donald Trump on imports of copper has caused a massive relocation of metals, flooding the U.S. and draining other markets. Since the Trump administration announced a Section 232 investigation in February into U.S. Imports of the Red Metal, traders have been rushing metal into the country in order to lock in a possible tariff windfall. The physical reaction has been so strong that it has caused futures arbitrage to collapse between the CME Contract and the London Metal Exchange Price (LME). WAITING FOR TRUMP The copper market is betting on a 25%...

Gold prices fell more than 2% Friday, and are heading towards their worst six-month period in recent memory. An overall stronger dollar and an interim U.S. China trade agreement have weakened investor demand for this safe-haven. As of 1136 GMT, spot gold was down by 1.9% at $3,178.06 per ounce. Bullion is down more than 4% this week, and it's on track to have its worst performance weekly since November 2024. U.S. Gold Futures dropped 1.4% to $3.180.90. Nitesh Sha, commodities strategist for WisdomTree, said: "We have had a week of positive signals regarding trade negotiations, and we've seen the...

In May, major U.S. exchange-traded fund (ETF) trackers of Chinese stocks saw inflows as a U.S./China tariff truce boosted the sentiment following a large sell-off last month. By the Numbers Global investors have bought a total of $401.7 million worth of four major U.S. listed China ETFs – iShares MSCI China, iShares China Small-Cap, KraneShares CSI China Internet, and Xtrackers CSI 300 China A Shares ETF – this month. Data from LSEG Lipper revealed that the outflow was $3.8 billion in April. Lipper's records show that the outflows in April were second to only a $4.4 Billion outflow from November...

Gold prices fell on Friday, and were set to experience their biggest weekly drop in six months as a stronger US dollar and diminishing trade war fears dampened its appeal. As of 0222 GMT, spot gold was down 0.5% at $3,223.06 per ounce. Bullion is down about 3% this week, and it's on track to have its worst performance weekly since November 2024. U.S. Gold Futures fell 0.1% to $3.224.90. Gold priced in greenbacks is now more expensive to overseas buyers due to the dollar's 0.3% gain for the past week. Ilya Spirak, global macro head at Tastylive, said that...