Dow up more than 200 points
On Wednesday Stocks surged while the solid quarterly outcomes from companies like Target boosted investor viewpoint. The Nasdaq Composite surged almost 0.10% to 8,020.20. The Dow Jones Industrial Average ended higher with more than 240 points at 26,202.70. The S&P 500 advanced 0.8% to end at 2,924.42. The main indexes continued to hold their earnings despite that the bond market warned about a recession. The better-than-expected outcomes came on time while investors are concerned regarding a potential US economic retardation. That fact drove investors away from riskier assets like stocks in favor of safer assets like gold.
Gold is steady for now
On Thursday, the popular yellow metal Gold did not change much and continue to hold above the important $1,500 an ounce level. That was while investors anticipated the Federal Reserve chair’s announcement at a global central bankers’ meeting as they were searching for hints regarding the future of the US interest rate cuts. The US gold futures fell 0.4% to $1,510.09 an ounce while the Spot gold went down 0.1% to $1,500.13 per ounce.
Oil is improving
Oil went up on Thursday following a decline in U.S. crude inventories, but rising concerns across the global economy and a rise in U.S. processed product stocks held a cap on profits. WTI crude futures climbed 10 cents, to $55.77 per barrel.
Brent crude futures rose and marked the fifth continuous advancement on Thursday, it went up 6 cents, to $60.35 a barrel.
Dollar holds its earnings
On Thursday the greenback continued to hold its profits following the Federal Reserve’s last policy meeting minutes. The meeting drove down some aggressive expectations that the central bank would begin to implement a set of interest rate reductions.
Jerome Powell’s speech on Friday will probably have hints on how far the US central bank is programmed to reduce rates. Now while the Fed’s minutes strengthened some dovish sentiment, markets will broadly expect more rate cuts as the economy is slowing.