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Feature: Turkish investors flock to gold amid Middle East turmoils

This photo taken on April 17, 2024 shows gold ornaments on display in a jewelry store in Istanbul, Türkiye. (Photo by Safar Rajabov/Xinhua) ISTANBUL, April 24 (Xinhua) -- Faruk Mutlu, a Turkish citizen, stepped into a bustling jewelry store in Türkiye's vibrant city of Istanbul. Armed with his savings, he resolved to convert them into [...] READ MORE

Tech Giants Hit in Late Hours After Meta’s Outlook: Markets Wrap

Wall Street traders gearing up for GDP report on Thursday Yen weakens past key 155 level, adding to intervention risk   Big tech sold off in late hours after Meta Platforms Inc.’s disappointing outlook raised concern on whether the industry that has powered the bull market in equities has run too far.   A $250 [...] READ MORE

Investors loved weak yen boosting shares until it went too far

(Bloomberg) — The yen has become stuck around a 34-year low against the dollar after months of declines, increasing concern the currency is becoming a liability for Japan’s economy and stocks. Japan’s depreciating currency has helped the country’s shares climb to records, as many of the biggest companies are manufacturers whose income earned abroad rises [...] READ MORE

Oil Rises as Risk-On Mood Counters Waning Geopolitical Concerns

West Texas Intermediate rose to settle near $83 a barrel after fluctuating in a range of more than $2. Equities rallied following a report showing growth for US business activity was at the slowest pace this year. The weakening economic data is being interpreted as bullish for markets as traders parse clues for the Federal [...] READ MORE

Gold little changed as spotlight shifts to US data

Traders expect first Fed rate cut in September Dollar index U.S. PCE report due on Friday   April 24 (Reuters) - Gold prices steadied on Wednesday as risk premiums over tensions in the Middle East eased, while investors strapped in for U.S. economic data due later in the week that could offer clues to the [...] READ MORE

JPMorgan warns stock market sell-off has ‘further to go’

Stocks rebounded from their recent slump on Monday, but some bearish Wall Street strategists still see concerns that aren't going away anytime soon for investors.   With expectations that the Federal Reserve will cut interest rates fading, signs of inflation remaining sticky, and stocks still trading at higher-than-average valuations, many believe the market is in [...] READ MORE

US Business Activity Expands at Slowest Pace in Four Months

S&P Global’s flash April gauge decreases to 50.9 from 52.1 Composite employment shrinks for first time since 2020 US business activity expanded in April at the slowest pace this year on a pullback in demand that led to the first decline in employment since 2020.   The S&P Global flash April composite index of output [...] READ MORE

US business activity cools in April; inflation measures mixed

Matt Arnold, CEO of Look Trailers, tours the company's utility trailer manufacturing facility in Middlebury (Reuters) - U.S. business activity cooled in April to a four-month low due to weaker demand, while rates of inflation eased slightly even as input prices rose sharply, suggesting some possible relief ahead as the Federal Reserve looks for signs [...] READ MORE

U.S. economy takes a step backward in April, S&P surveys show, as demand weakens

Customers in their vehicles wait for their orders at a Sonic restaurant drive-in in Miami. The U.S. economy lost momentum in April, a pair of S&P surveys showed. New orders decline and businesses reduce employment for first time since the pandemic   The numbers: The U.S. economy lost momentum in April, a pair of S&P [...] READ MORE