Month: October 2024

Gold prices rose in Asian trade on Tuesday, coming close to record highs as the run-up to the 2024 presidential election and uncertainty before upcoming data prints kept safe haven demand in play.The yellow metal recouped all of its losses from the prior session, as easing fears of the Middle…

Australian stocks finished higher on Tuesday, buoyed by gains in the Gold, Consumer Discretionary, and IT sectors.At the close in Sydney, the S&P/ASX 200 rose by 0.34%.Leading the gains in the S&P/ASX 200 were Zip Co Ltd (ASX:ZIP), which surged 11.83%, or 0.33 points, to close at 3.12. Premier Investments…

European shares rose slightly on Monday as investors geared up for a busy week of key economic data and earnings from major U.S. companies.The pan-European STOXX 600 index climbed 0.2% to reach 519.80 points as of 0815 GMT, following its first weekly loss in three weeks on Friday.The energy sector,…

Japanese stocks climbed on Monday as the yen plummeted to a three-month low following Prime Minister Shigeru Ishiba’s coalition losing its parliamentary majority in a disappointing election result on Sunday, creating uncertainty about future policies and the economy.Ishiba’s Liberal Democratic Party (LDP), which has dominated Japanese politics for nearly all…

The yen fell to a three-month low on Monday after Japan’s ruling party lost its parliamentary majority, while oil prices dropped following Israel’s weekend strike on Iran that targeted missile sites rather than oil or nuclear facilities.Japan’s Nikkei index initially declined but later rebounded by 1.6%. The yen slipped as…

During the International Monetary Fund and World Bank annual meetings, discussions primarily focused on low growth, high debt, and escalating conflicts. However, finance leaders were notably preoccupied with the implications of a possible return of Donald Trump in the upcoming U.S. presidential election.Trump’s rising poll numbers, which have narrowed the…

British Finance Minister Rachel Reeves is set to steer the world’s sixth-largest economy and Prime Minister Keir Starmer’s government in a new direction next week, with significant increases in public spending and taxes.This will be the Labour Party’s first budget in 14 years, concluding months of speculation regarding how much…

German luxury automaker Mercedes-Benz (OTC) announced on Friday that its third-quarter earnings in the core car division plummeted by 64%, as Chinese consumers continued to reduce spending on luxury goods amid a weakening economy.”The Q3 results fall short of our expectations,” stated CFO Harald Wilhelm.The earnings for July to September…

Egypt’s economic growth is projected to rise to 4.0% by the end of June 2025, as austerity measures from an International Monetary Fund program take effect, according to a Reuters poll released on Thursday.The median forecast from a Reuters poll of 13 economists conducted between October 9 and 23 anticipates…

U.S. stock futures are mostly up following Wednesday’s decline, which was characterized by rising yields and falling shares of major tech companies. Tesla (NASDAQ: TSLA) saw its stock soar after reporting better-than-expected earnings and an optimistic delivery outlook. Meanwhile, striking Boeing (NYSE: BA) workers on the U.S. West Coast have…