Gold futures settled lower at $1366 per ounce as U.S. equities rallied and bullion buyers took to the sidelines before the conclusion of a two-day Fed policy meeting.» Read More
Gold prices have hit an eight-week low as the dollar rebounded against the euro, hitting $862 an ounce Thursday before setting at around $863.
On an otherwise gloomy day, the dollar amazingly jumps to an eight-week high, surging 1.75% in the past week and 2.5% for the month.
Yesterday’s Federal Reserve policy statement not only failed to defend King Dollar, it actually shifted on balance to a more dovish position. The FOMC looks like it’s more worried about the economy than it was a month ago and less worried about inflation in the wake of plunging oil prices.
For the week ending Friday, August 1, 2008, the markets finished relatively flat after a turbulent week that saw 4 straight days of triple-digit moves on the Dow. An early rally was dampened by weak economic data including weaker-than-expected GDP numbers and a rise in the unemployment rate.
On Tuesday, oil dropped to its lowest level in nearly 3 months. Find out what esteemed investor Dennis Gartman says is next for commodities.
The Dow finished only modestly higher on Friday after better-than-expected consumer sentiment and falling oil prices failed to really ignite investor optimism.
An analyst predicts that gold will head into a bull market, and Washington Mutual increases its liquidity position. The following are today's top videos:
For the week ending Friday, July 25, 2008, the markets closed mixed for the week, on negative housing data, and mixed earnings results. An early rally in financial and airlines stocks, supported by the continued slide in oil prices, was quickly wiped away by ongoing uncertainty in the economy. The Dow dropped more than 280 points on Thursday, marking the worst one day point drop in over a month. However, Friday saw a slight rebound on strong durable goods and a bounce back in consumer sentiment. Only the Nasdaq finished slightly up 1.2% for the week. The Dow and S&P finished down 1.09% and 0.23%, respectively.
For the week ending Friday, July 18, 2008, the U.S. markets saw extreme volatility yet settled higher on better-than-expected earnings results, a pullback in crude oil, and an indication that the Fed will hold interest rates steady. Nonetheless, the Dow had its best week since April 18 and its best 3-day percent gain since March 2003 even after closing below 11,000 for the first time since July 2006.
How do the charts suggest trading this tumultuous and volatile market? Find out from one of the most esteemed technical analysts on the Street.
The Dow slipped on Monday as investors worried that plans to shore up the government sponsored mortgage companies won't be enough. What's the "Word on the Street?"
For the week ending Friday, July 11, 2008, the U.S. markets finished in bear market territory with the Dow dipping below 11,000 during intraday for the first time in 2 years.
The Dow rose Tuesday in another turbulent session after a pullback in oil prices eased worries about consumer and business spending. What's the "Word on the Street?"
For the short Independence week ending Friday, July 3, 2008, the U.S. Markets ended the week in bear market territory with the Dow and the NASDAQ off more than 20% from their market peak set in October, 2007.
Jim Steel, chief commodities analyst for HSBC, said rising precious metals prices are making them a safe investment.
It was an ugly first half for the stock market and now that the goal posts have been moved for the economic recovery, expect a rough game in the second half.
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For the week ending Friday, June 27, 2008, the U.S Markets tumbled on low consumer confidence levels, battered financial stocks, interest rates concerns, and new record prices for crude oil.
Better keep your wits about you, it looks like we’re entering bear territory. What's the "Word on the Street?"
Stocks limped to the finish of an ugly week on Wall Street, with the Dow touching bear territory and the broader market continuing to be battered by a double dose of surging oil and a fresh round of banking troubles.