Stocks opened higher Monday as the dollar pullled back and gold hit a new record above $1,170 an ounce. The Dow was up more than 100 points at the open and continued higher after a report showed a sharp jump in existing-home sales.
A holiday-shortened trading week begun with all signs pointing to a higher open for Wall Street on Monday, with the dollar weakening and gold hitting a new record high above $1,167 an ounce.
Gold prices continue to make fresh highs but there could be a possible correction come 2010, warned Bill McQuaker, head of equities & director of multi-manager funds at Henderson Global Investors.
Monday, 23 Nov 2009 | Posted By:
Sri Jegarajah | Source: CNBC.com
An expected correction in equity markets this week which could weigh on oil prices will be balanced out by weak demand concerns, resulting in a rangebound trading in oil markets this week, according to CNBC's weekly oil survey by reporter Sri Jegarajah.
Gold powered to a record above $1,160 an ounce on Monday after a rally in the dollar ran out of steam, strong oil prices resurrected inflation worries, and a drop in U.S. stocks stirred doubt about the economic outlook.
Gold powered to a record above $1,160 an ounce on Monday after a rally in the dollar ran out of steam, strong oil prices resurrected inflation worries, and a drop in U.S. stocks stirred doubt about the economic outlook.
China Longyuan Power Group, Asia's largest wind power generator, plans to raise up to HK$17.1 billion (US$2.2 billion) from a Hong Kong initial public offering (IPO), sources close to the deal said on Sunday.
Oil fell nearly 1 percent on Friday as a stronger dollar weighed on prices and falling equities raised concern about the economy and the outlook for energy demand.
Gold rallied late Friday in the face of a stronger dollar and ended higher for a third straight week on investor sentiment amid inflation concerns and economic uncertainty.
A flurry of green agreements between the U.S. and China this month has lowered expectations for any global deal at a major climate change conference in Copenhagen next month, but they may also foreshadow a new approach by the Obama administration focusing on job creation and technological innovation.
As global leaders prepare for December's Climate Change Conference in Copenhagen, CNBC is speaking to heads of business from around the world to reflect on the summit, discuss plans for reducing emissions and investment opportunities.
U.S. crude futures fell more than 2 percent Thursday as a stronger dollar weighed and weaker equities raised concern about the economy and a potential rebound in energy demand.
Gold prices retreated on Thursday from the record high above $1,150 an ounce they reached in the previous session, reacting to a rise in the dollar as investors took profits in higher-yielding currencies.
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