Author: Trading Market

Oil prices fell on Monday, ending a multi-session rally after Israel reduced its troops in southern Gaza and began a fresh round of ceasefire talks with Hamas.Brent crude futures fell 79 cents, or 0.9%, to settle at $90.38 a barrel and U.S. West Texas Intermediate crude closed down 48 cents, or 0.6%, at $86.43. It was the first decline in five sessions for Brent and the first in seven for WTI.Israel and Hamas opened a fresh round of Gaza ceasefire talks on Sunday, but a Hamas official said the talks remained deadlocked. Both benchmarks slumped by more than $2 during…

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The three major U.S. stock indexes fell more than 1% each and the S&P 500 had its biggest daily percentage drop since Feb. 13 on Thursday as Federal Reserve officials took a cautious approach in comments on the outlook for interest rate cuts, and investors braced for Friday’s U.S. monthly jobs report.Investors also digested comments from U.S. President Joe Biden, who called for an immediate ceasefire in a call with Israel Prime Minister Benjamin Netanyahu over the Gaza war. Oil prices climbed amid the geopolitical tensions. All of the major S&P 500 sectors fell on the day, led by a…

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Shari Redstone, the controlling shareholder of TV giant Paramount Global (PARA.O), opens new tab, has reached a tentative agreement to sell her stake in the company to David Ellison’s Skydance Media, Bloomberg News reported on Wednesday citing people familiar with the matter. Skydance is holding exclusive talks with a panel of independent directors at Paramount as part of a provisional accord to buy the Redstone family’s holding company National Amusements, the report, opens new tab added. In January, a source told Reuters Skydance Media CEO David Ellison, son of Oracle (ORCL.N), opens new tab co-founder Larry Ellison, was exploring an all-cash bid to…

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Gold price (XAU/USD) attracts some buyers for the sixth straight day on Tuesday and remains well within the striking distance of the all-time peak, around the $2,265-$2,266 area touched the previous day. The upbeat US manufacturing data released on Monday raised doubts over whether the Federal Reserve (Fed) will cut interest rates three times this year. This, along with the risk of a further escalation of geopolitical tensions in the Middle East, tempers investors’ appetite for riskier assets and acts as a tailwind for the safe-haven precious metal. Meanwhile, the markets are now pricing in a total of 69 basis…

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The Dow and S&P 500 edged lower on Monday, dragged down by investor worries over the timing of interest rate cuts by the Federal Reserve after stronger-than-expected manufacturing data pushed Treasury yields higher.The Institute for Supply Management (ISM) said its manufacturing PMI increased to 50.3 last month, the highest and first reading above 50 since September 2022, from 47.8 in February. It suggested the manufacturing sector, which has been battered by higher interest rates, was recovering. The Nasdaq closed slightly higher, along with the S&P 500 technology sector (.SPLRCT), opens new tab. An index of semiconductors (.SOX), opens new tab…

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