Decline in oil prices Archives -

Rise in US stocks

Rise in US stocks: US stocks closed higher at the end of Tuesday’s trading, with indices moving upwards.
Gains were recorded in the communications, technology, and healthcare sectors.

Content:

Rise in US Indices

Decline in Oil Prices

Fluctuation in Gold Prices

Rise in US Indices

US stocks closed higher at the end of Tuesday’s trading, with indices moving upwards,
recording gains in the communications, technology, and healthcare sectors.
At the end of trading in New York, the Dow Jones Industrial Average rose by 0.36%,
the S&P 500 index strengthened by 0.15%, and the Nasdaq index rose by about 0.15%.

Decline in Oil Prices

Crude oil futures witnessed a decline during the trading session in the US on Tuesday.
According to the New York Mercantile Exchange, crude oil contracts for July
were traded at $73.31 per barrel, marking a decline of 1.23%.
The US Dollar Index contracts, which measure the performance of the US dollar
against a basket of six other major currencies, rose by 0.01% to $104.07.
At the same time, Brent oil prices for August decreased by 1.03% to $77.55 per barrel,
with a price difference of $4.24 per barrel between Brent and crude oil.

Fluctuation in Gold Prices

Global gold prices increased during Wednesday’s trading, supported by the decline in Treasury yields.
However, prices remained within a narrow range, and more US data
is awaiting to determine the Federal Reserve’s next move on monetary policy.
Ten-year Treasury yields remained near their lowest levels in three weeks,
achieved on Tuesday, making gold bullion more attractive to investors.
The key data awaited is the non-manufacturing PMI report from the Institute for Supply Management.
The ideal scenario for gold is to see the index slightly below the 50-point level,
as this aligns with the “soft landing” scenario that the Federal Reserve aims to achieve.

Rise in US stocks

Disruption in the New York Stock Exchange Causes Significant Losses

Disruption in the New York Stock Exchange Causes Significant Losses: In a sudden incident,
numerous stocks and companies on the New York Stock Exchange (NYSE) experienced a sharp decline to zero,
dropping by more than 99%.
Among the affected companies was Berkshire Hathaway Inc Class A, owned by billionaire Warren Buffett.

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Stability in Gold Prices

Decline in Oil Prices

Disruption in the NYSE Causes Significant Losses

Stability in Gold Prices

Gold prices slightly declined in Tuesday’s Asian trading session but remained stable after some gains in the previous session.
This improvement is attributed to signs of a slowing US economy,
which boosts expectations of interest rate cuts and puts pressure on the dollar,
bringing it to its lowest level in two months.
However, gold prices are still significantly below the record levels achieved in May.
Upcoming labor market data later this week is expected to provide more
signals on the trajectory of US interest rates, impacting gold prices.

Decline in Oil Prices

Oil prices fell in Tuesday’s Asian trading session, continuing the losses from
the previous session when they dropped to their lowest levels in four months.
This decline is due to investor concerns about increased supply
later in the year and cautious demand outlooks from major consumers in the United States.
On the New York Mercantile Exchange,
crude oil futures for July were trading at $73.72 per barrel at the time of writing, down 0.67%.

Disruption in the NYSE Causes Significant Losses

In an unexpected event, many stocks and companies on the NYSE plummeted sharply to zero,
with drops exceeding 99%. Berkshire Hathaway Inc Class A,
owned by Warren Buffett, was among the affected companies.
Data showed that Berkshire Hathaway’s stock price fell to $185, resulting in a loss of $627,215 per share.
The exchange’s management is investigating the causes of this sudden decline.
Fluctuations in some stocks listed on the NYSE caused trading disruptions.
So far, no official source has revealed the reason behind these fluctuations.
After resolving the technical issue, stock prices stabilized and returned to normal.

Disruption in the New York Stock Exchange Causes Significant Losses

Persistent fall of the Japanese yen

Persistent fall of the Japanese yen: The Japanese yen is experiencing a decline in the Asian market trading on Wednesday
against major and minor currencies, continuing its losses for the third consecutive day against the US dollar

Topics

Persistent fall of the Japanese yen

Stability of gold prices

Decline in oil prices

Persistent fall of the Japanese yen

The Japanese yen is experiencing a decline in the Asian market.
On Wednesday, it traded against major and minor currencies and continued
its losses for the third consecutive day against the US dollar.
The exchange rate has surpassed the 155 yen per dollar barrier.
This decline is attributed to the increased likelihood of Japanese authorities intervening again in the foreign exchange market.
Analysts believe any intervention by the Bank of Japan will only lead to a temporary rise in the yen’s value,
given the continuing significant interest rate differential between Japan and the United States.
Moreover, the rise in yields of US ten-year Treasury bonds is exerting negative pressure on the Japanese yen,
reducing its attractiveness as an investment option for buyers and financing deals.

Stability of gold prices:

Global gold prices have stabilized during the current trading period as market traders await new signals
from US Federal Reserve officials regarding the potential timeline for interest rate reductions.
The decrease in interest rates enhances the attractiveness of investing in gold, which does not yield a direct return.
The chance of a US interest rate cut in September exceeds 65%, increasing the likelihood of continued stability in gold prices.

Decline in oil prices:

Oil prices fell in early Asian trading on Wednesday as sector data revealed an increase in US crude and fuel inventories,
indicating a potential weakening in demand. Cautious expectations about supply
also prevailed ahead of next month’s OPEC+ meeting.
Brent crude futures fell 30 cents, or 0.36 percent, to $82.86 a barrel by 03:48 GMT.
West Texas Intermediate (WTI) US crude futures fell 25 cents, or 0.32 percent, to $78.13 a barrel

Persistent fall of the Japanese yen