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Gold Futures(AUG4) News
Vanguard Says US Tech 'Euphoria' Can Break One or Two Ways
Joe Davis, chief economist and global head of investment strategy at Vanguard, says the valuation gap between tech and other stocks will narrow in the coming years. "I think we can see some modest deceleration in the tech sector, at some point it has to come," Davis says on Bloomberg Television. "But if the economy holds up, I think other parts of the market could catch up and I think that would be good news."
Gold Market Analysis: US retail data shows consumer fatigue, gold rebounds slightly boosted.
Wang Gang, the Bank of China's Guangdong Provincial Branch, said that Tuesday's retail sales data showed signs of fatigue among American consumers. The slowdown in retail sales growth, coupled with rising prices and interest rates, forced families to prioritize basic necessities and cut discretionary spending. The Federal Reserve's tight financial conditions this year seem to have finally put pressure on household budgets. The weaker-than-expected retail sales report increased the possibility of the Fed cutting interest rates within several months. Federal funds rate futures indicate a 67% chance of at least one rate cut by the Fed before the end of September, up from 63% a day ago.
No Stopping S&P 500's Record Rally as Nvidia Beats Microsoft| Wall Street Today
There's no stopping the S&P 500's record rally. As usual, the benchmark got a boost from Nvidia, which bumped off Microsoft as the world's most valuable company.
S&P 500 Notches Fresh Record as Nvidia Unseats Microsoft as Top Stock
The S&P 500 notched another intra-day record, as semiconductors continued to hog the limelight, with Nvidia bumping off Microsoft as the world's most valuable company.
Fed Watch: FOMC Officials Reiterate Patience, Data Dependence, Before Cutting Rates
Fed Governor Adriana Kugler (voter) said that it is possible that the FOMC could cut rates later in 2024 but said that currently inflation is too high and that further evidence that the recent improve
Fed's Kugler Sees Rate Cut This Year and Says Economy Is 'Moving in Right Direction'
Federal Reserve Gov. Adriana Kugler on Tuesday said "it will likely become appropriate" to cut U.S. interest rates later this year if the economy continues to slow and inflation wanes as she expects.
Fed's Kugler Offers Four Reasons for Hope on Inflation -- WSJ
By Nick Timiraos Federal Reserve governor Adriana Kugler said she continued to anticipate it would be appropriate for the central bank to lower interest rates this year. Kugler offered four reasons
Fed's Collins Says Process of Lowering Inflation May Take Longer Than Expected
While recent inflation data has been "encouraging," the process of lowering inflation may take longer than expected, Boston Federal Reserve Bank President Susan Collins said Tuesday at the 2024 Annual
Gold market analysis: lack of significant fundamental news, gold starts the week on a downward trend.
Wang Gang, Bank of China's Guangdong branch, stated that on Monday, the yield on 10-year US Treasury bonds rebounded after a sharp drop last week, reducing the attractiveness of non-interest-bearing gold to investors. Currently, there is a lack of significant new fundamental news in the market, so investors are looking for direction from external markets until the next major fundamental catalyst appears. The speeches of Federal Reserve officials this week may have some impact. If the Fed officials still adhere to their hawkish attitude of only one rate cut this year, it may put pressure on gold.
Gold trading reminder: hawkish speech from the Fed boosts US bond yields rebound, causing gold prices to fall slightly, pay attention to "terrifying data".
On Monday, the gold price fell by 0.6%, closing at $2318.82 per ounce, because Federal Reserve officials continued to deliver hawkish speeches, which helped push up US Treasury yields. Investors are waiting for more US data and speeches by Fed officials this week to get more clues about the currency policy outlook. Traders are currently closely watching speeches from New York Fed President Williams and Fed Director Cook later. Investors also need to pay close attention to US retail sales data (commonly known as "horror data") released on Tuesday.
Apple, Microsoft Push S&P 500, Nasdaq to New Highs | Wall Street Today
The S&P 500 and Nasdaq resumed their rally to fresh all-time highs, buoyed by gains in tech giants Apple and Microsoft.
The Divergence Beneath the Surface of the S&P 500 Has Reached Historic Extremes
By Joseph Adinolfi The gap between the large-cap index and its equal-weighted sibling reached a notable milestone last week As Big Tech stocks pushed higher last week while the rest of the market la
S&P 500, Nasdaq Reach New Records, Buoyed by Apple, Microsoft
The S&P 500 and Nasdaq resumed their rally to fresh all-time highs, buoyed by gains in tech giants Apple and Microsoft.
Manufacturing Outlook in New York State at Highest Since 2022, Fed Data Shows
Companies across the state of New York are becoming more optimistic about their outlook, even as manufacturing stayed in contraction in June, according to the Empire State Manufacturing Survey released Monday morning.
Gold spot is in a consolidation phase, with support at $2300 remaining strong.
After rising more than 1% last Friday, gold was at a disadvantage at the beginning of a new week. The ideal situation at the beginning of this week is for the bulls to push the gold price above the short-term put trendline near $2360. Although there were several attempts to fall below $2300, this resistance level remains strong.
Lagging US Small Caps Show Cracks Are Forming Beneath the Rally
US small cap stocks have underperformed larger peers as the Russell 2000 index diverged from the S&P 500 so far this month, reflecting growing concerns about the US economy as inflation remains sticky and the Fed keeps rates high. Bloomberg MLIV's Nour Al Ali joins "Bloomberg Markets Today" to discuss these themes.
S&P 500 Poised To Extend Bull Run? Market Strategist Sees 'AI Fervor' And Ebbing Inflation Pushing Valuation Toward Dot-com Peak
The stock market has carried forward the momentum seen in 2023, and optimism regarding another stellar abounds on the Street. A market strategist on Sunday hiked the year-end price target for the S&P
Weekly gold analysis: Bulls end three consecutive declines, will the gold price restart the bull market? Most analysts are bullish on the future.
The gold market maintained a steady upward trend before the weekend, but there was no significant reaction due to the continued decline in confidence among US consumers and high inflation expectations. Spot gold rose 1.22% last Friday (June 14), closing at $2332.10 per ounce and fluctuating upward throughout the day. It increased by 1.71% last week.
S&P 500 Finally Pulls Back, Nasdaq Hits Fifth Closing High | Market Story
The S&P 500 and Nasdaq hit all-time closing highs in the past four sessions, but today the market was overall lower.
Has the Pullback Finally Come? | Herd on Wall Street Podcast
Morning mooers! It is finally Friday, June 14th. The market may actually pull back today after the S&P 500 and Nasdaq hit closing highs for the past four sessions.