Gold futures on the COMEX division of the New York Mercantile Exchange slumped on Friday for the seventh consecutive session, as the dollar index jumped to nearly three-year highs and the latest data raised optimism about the U.S. economic recovery.
The most active gold contract for June delivery fell 22.2 dollars, or 1.6 percent, to settle at 1,364.7 dollars per…Read more
Singapore shares closed 0.09 percent lower on Friday, as a regional Federal Reserve chief said the U.S. central bank may begin to taper its asset buying this summer.
San Francisco Federal Reserve Bank President John Williams said on Thursday the Fed could begin easing its monetary stimulus this summer and end bond buying late this year.
Although Williams does not…Read more
TBenchmark of Kuwait Stock Exchange (KSE) stabilized at start of the past week sessions at the highest level on record since four years ago, specifically since October 2009, buoyed by upbeat sentiments and quarterly corporate results.
Al-Oula brokerage company said in a report released on Saturday the bourse closed the week trading with the price index reading 89.13 points, drop…Read more
South Korean stocks are expected to rise next week on economic stimulus efforts by governments, analysts here said Saturday.
The benchmark Korea Composite Stock Price Index (KOSPI) closed at 1,986.81 this week, up 2.16 percent from 1,944.75 a week earlier.Read more
Shares of US automaker General Motors Co. closed above their original purchase price on Friday for the first time in more than a year.
Shares rose to $33.42, topping the $33 per share offer at GM's return to life as a public company in November 2010.
It has been since February 2011 that GM has closed ahead of its initial…Read more
Egypt's stocks ended Thursday trading in the red with the main EGX30 index dropping 0.51 percent to close at 5,428 points.
The market saw impressive gains on Wednesday gaining 1.1 percent on the back of favourable results announced by major real estate and telecommunication stocks.
Market turnover on Thursday reached LE325 million with 97 shares losing value and 41 gaining.…Read more
U.S. stocks closed higher Friday, as investors focused on signs of improvement in the U.S. economy.In U.S. economic news, a measure of consumer sentiment rose to its highest level in nearly six years. Separately, a report on leading economic indicators bounced back in April.
In corporate news, J.C. Penney shares slid after the ailing retailer reported another massive loss. Nordstrom…Read more
The U.S. index of leading economic indicators rose in April, climbing 0.6 percent to 95, after a 0.2 percent drop in March, the Conference Board said Friday.
The Leading Economic Index rebounded with positive contributions from housing permits and labor market conditions.
The index climbed "although consumers' outlook on the economy remains weak," Conference Board economist Ataman Ozyildirim said.
A rally in U.S. markets returned with gusto on Friday.The Dow Jones industrial average closed at a record 15,354.40 points, up 121.18 points or 0.8 percent, setting a high water mark for the third time in the past four sessions.
Gains were balanced across business sectors as 23 of 30 Dow components rose Friday, led by JPMorgan Chase, which gained…Read more
US stocks resumed their upward push Friday with both the Dow and S&P 500 closing at new all-time highs following favorable US economic reports.
The Dow Jones Industrial Average jumped 121.18 (0.80 percent) to 15,354.40.
The broad-based S&P 500 rose 15.65 (0.95 percent) to 1,666.12, while the tech-rich Nasdaq Composite Index added 33.72 (0.97 percent) to 3,498.96.
Friday's gains came…Read more