Wall Street surged to record highs after the Fed cut rates, with the S&P 500 climbing over 1.7% to set a new peak, surpassing its previous record from July. Meanwhile, the Dow Jones Industrial Average rose 1%, also reaching an all-time high, while the Nasdaq Composite jumped 2.7%, though it remains below its record set…
NEW DELHI: Gold prices have experienced a notable surge in recent weeks, with the yellow metal witnessing an increase of over 11% in India alone.A recent report from Goldman Sachs highlights that this surge is not solely driven by traditional factors, indicating a shift in the dynamics of the gold market.The report underscores the significant…
Wall Street experienced a significant downturn on Wednesday, driven by mounting concerns that the recent inflationary pressures are not merely temporary disturbances but a persistent trend. The S&P 500 saw a decline of 0.9%, with a vast majority of stocks within the index following suit. The Dow Jones Industrial Average dropped by 422 points, or…
In an impressive display of resilience, the S&P 500 and the Dow Jones Industrial Average soared to new heights in New York on Thursday, marking a significant prelude to the Easter holiday break. This rally not only set new records but also signaled the best start to the year for the S&P 500 since the…
WASHINGTON: The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting that job growth remained strong in March. Initial claims for state unemployment benefits dropped 2,000 to a seasonally adjusted 210,000 for the week ended March 16, the Labor Department said on Thursday. Economists polled by Reuters had forecast 215,000…
Wall Street indices experienced a significant upswing on Wednesday, hitting fresh record highs after the Federal Reserve‘s announcement that kept interest rates steady while projecting up to three rate cuts in 2024. The decision, anticipated by the market, was made despite the latest inflation data surpassing previous estimates.During a press conference, Fed Chair Jerome Powell…
Gold climbed over 1% on Wednesday after the U.S. Federal Reserve indicated they expect to reduce interest rates by three quarters of a percentage point by end-2024, sending the dollar and Treasury yields lower. Spot gold rose 1.2% to $2,183.02 per ounce by 15:23 p.m. EDT (1923 GMT). U.S. gold futures settled 0.1% higher at…
NEW DELHI: Gold prices on Thursday jumped by Rs 500 to Rs 65,650 per 10 grams in the national capital amid a rally in precious metal’s rates in international markets, according to HDFC Securities. Maintaining its upward march for the third straight day, the precious metal touched a fresh lifetime high of Rs 65,650 per…
Wall Street experienced a positive shift on Wednesday as economic indicators and statements from Federal Reserve Chair Jerome Powell fueled anticipations that the Fed might lower its benchmark interest rate within the year.Powell emphasized on Wednesday his expectation for the Fed to slash rates, stating the US economy was far from facing a recession. However,…
LONDON: US and European stock markets rose Wednesday and gold hit a record high as the Federal Reserve kept alive expectations of rate cuts later this year and the British government unveiled a pro-growth budget.In volatile trading, gold touched 2,150, well above its previous high of $2,141.79 as expectations of lower interests rates hurt the…
