Market Jones and Gold Nuggets Soar Amid Unrelenting Uncertainty: US Stocks Sputter
Ongoing speculation: U.S. stock markets experiencing a downturn
Take a seat and buckle up, investors. The focus is now on Red Dragon territory, with the United States and China in the headlines. But the faith in a swift resolution ain't exactly sky-high. The Wall Street closed with a whiff of losses.
Before the weekend's face-off between Uncle Sam and Chairman Xi to iron out their trade disagreements, Wall Street barely noticeably budged. The Dow Jones Industrial Average of high-profile stocks dropped by 0.3%, settling at 41,249 points. The broader S&P 500 dipped 0.1%, to 5,651 points, with the tech-savvy Nasdaq remaining as calm as a Sunday morning at 17,928 points.
Representatives from the world's heftiest economies will groove in Switzerland this weekend, thrashing about tariffs. Investors are crossing their fingers that these tangle talks will bring an end to the trade war that's been bothering them for quite a while. USD Pres' Donald Trump hinted at less tariffs on China imports on Fridays, but analysts ain't exactly convinced. As Michael Matousek, big shot trader at US Global Investors, said, "Whether tariffs are 140% or 80%, the number may sound like a difference, but if there are still 80% tariffs, most folks won't buy those goods."
Yesterday, the US and UK hit pay-dirt after a historical trade deal - the first since Trump roped in his initial tariffs last month. Yet, many crucial details are still open, and a base tariff for imports into the US still remains standing.
Golden Delights in Demand
Gold prices were on a roll due to the continued tension on the markets. David Meger, head of metals trading at High Ridge Futures, shared his thoughts, stating, "Overall persistent uncertainty regarding tariffs is likely the most important factor behind the gold price." The troy ounce of the precious metal, which serves as a sanctuary for financially troubled times, jumped by 0.7%, to $3,327. On the oil market, the North Sea Brent and US WTI each climbed up by around 1.7%, hitting $63.88 and $60.99 per barrel (159 liters), respectively.
"If both sides set a date for formal trade talks and agree to gradually reduce the hefty tariffs during negotiations, the oil price could surge an additional two to three dollars per barrel," Vandana Hari, founder of Vanda Insights, spilled the beans.
A disheartening quarterly report took down Expedia. The online travel platform's shares plummeted by 7.3%. The company's first-quarter revenue of $2.98 billion barely flirted with the average of analysts' expectations. On the flip side, Lyft's report card was well-received. The ride-hailing company's shares ascended majestically by 28%. Lyft reported an adjusted earnings per share of 24 cents in the first quarter, triumphing over analysts' expectations of 19 cents. The company also had plans to buy back more shares. Trade Desk's shares shot up 18.6% after the ad firm declared that their first-quarter revenue and earnings surpassed Wall Street estimates.
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Source: ntv.de, ino/rts
- Stock Prices
- Stock Trading
- Dow Jones
- Wall Street
- Investors are eagerly awaiting this weekend's meetings between world leaders, hoping for a resolution to the ongoing trade disputes, particularly between the US and China.
- The average price of gold continued to rise due to the persistent uncertainty in the markets, often viewed as a haven during financially troubled times.
- The tech-savvy Nasdaq remained relatively stable, despite the Dow Jones Industrial Average and S&P 500 showing signs of slight losses.
- Companies like Expedia, Lyft, and The Trade Desk experienced significant fluctuations in their share prices following the release of their quarterly reports, with Expedia seeing a significant drop and Lyft and The Trade Desk experiencing increases.
