Latest news with #Israel‑Iran
New Indian Express
8 hours ago
- Business
- New Indian Express
Weekly Review: Gold prices fall as investors turn away from safe-haven assets
CHENNAI: Gold prices have recently declined, marking their second consecutive weekly loss, as global investors increasingly shift focus away from traditional safe-haven assets. The weakening demand for gold comes amid a broader surge in risk appetite, buoyed by rising equity markets, easing geopolitical tensions, and firming expectations of a stable macroeconomic environment. In India, the precious metal prices have eased this week, offering a potential buying opportunity. On June 28, the price for 22‑carat gold fell by about Rs55 per gram from the previous day—now around Rs. 8,930 per gram—while 24‑carat gold was Rs. 9,742 per gram. Over the last ten days, 22‑carat prices have dropped from Rs. 9,265 on June 19 to Rs. 8,930 on June 28—a fall of roughly Rs. 335. Similarly, 24‑carat gold fell from Rs. 10,108 to Rs. 9,742—a Rs. 366 decline. This downward trend reflects a broader global correction, driven by easing geopolitical tensions (such as the Israel‑Iran ceasefire), a stronger dollar, and rising U.S. Treasury yields reducing the appeal of non‑yielding assets like gold . In MCX futures, domestic prices dropped about Rs. 1,630 per 10 g this week amid reduced safe‑haven demand. For buyers, this dip may be a good chance to purchase jewelry or invest—but it's wise to monitor global trends, interest rates, and inflation data for future movements. Spot gold dropped by approximately 1.2% to around $3,288 per ounce, while US August futures fell by 1.7%, closing the week with a nearly 3% decline. This drop reflects investor preference for higher-yielding or growth-oriented assets, with the Nasdaq hitting fresh record highs—signaling a strong risk-on sentiment in the market. Gold's earlier rally, which saw prices touching historic highs earlier this year, has also prompted technical profit-taking, accelerating the recent sell-off.
Business Insider
a day ago
- Business
- Business Insider
Morning Movers: Shell ticks higher after denying interest in BP deal
Stock futures are drifting cautiously higher as the S&P edges close to record highs. The dollar is under pressure amid the worst first-half performance in 50 years, falling to its lowest since early 2022 amid speculation that President Trump may replace Fed Chair Powell before his term ends and markets pricing in over 60 basis points of rate cuts by year-end. Treasury yields, including the 10‑year at 4.27%, have eased across the curve. Confident Investing Starts Here: Chipmakers and tech continue to lead and stock futures show strength while oil has recovered mildly to about $65-$68, little changed, supported by a holding Israel‑Iran ceasefire, while gold is slightly higher amid currency moves. In pre-market trading, S&P 500 futures rose 0.28%, Nasdaq futures rose 0.38% and Dow rose 0.22%. Check out this morning's top movers from around Wall Street, compiled by The Fly. Also, subscribe to The Fly's pre-market Fly By if you want to know how the markets will open, which stocks will be moving and why. HIGHER – UP AFTER EARNINGS – Acuity Brands (AYI) up 10% Lindsay (LNN) up 5% McCormick (MKC) up 4% Walgreens Boots Alliance (WBA) up 1% Micron (MU) up 1% DOWN AFTER EARNINGS – Hive Digital (HIVE) down 2% Jefferies Financial (JEF) down 2% LOWER – Edgewise Therapeutics (EWTX) down 9% after FDA deemed the CANYON data alone insufficient for an accelerated approval of sevasemten Kratos Defense (KTOS) down 7% after 12.987M share secondary offering priced at $38.50 per share
Int'l Business Times
2 days ago
- Business
- Int'l Business Times
Tech Boom Powers US Stock Futures Ahead Of GDP Update
U.S. stock futures are surging as investors weigh the impact of tech earnings against upcoming economic data. According to Reuters, futures for the S&P 500 rose 0.4%, Nasdaq‑100 futures climbed 0.5%, and Dow futures ticked up 0.3% in early trading Thursday. This rally follows a truce in the Israel‑Iran conflict, which eased geopolitical tensions and lifted risk sentiment across markets, Investopedia reported. The strength of tech was front and center: Micron Technology's bullish revenue forecast—boosted by surging AI-driven data center demand—sent its shares up 1.3% pre-market, while Marvell and AMD also rallied around 2–3%. Notably, Nvidia hit a new all-time high, briefly becoming the world's most valuable company with a market capitalization of approximately $3.77 trillion. Microsoft, Nvidia's teammate in the AI arms race, similarly marked fresh peaks, underscoring the sector's leadership role. Economic data this morning painted a mixed picture: the Commerce Department confirmed a first-quarter GDP contraction of 0.5%, deeper than initially thought, attributed mainly to a surge in imports ahead of tariff hikes. However, jobless claims declined, hinting at a resilient labour market, as reported by Reuters. While markets digest this duality, Federal Reserve Chair Powell has urged patience on rate cuts—though President Trump is reportedly exploring a replacement before the term ends, adding political uncertainty. Nonetheless, futures now price in roughly 63 basis points of easing by year-end, with the first cut anticipated around September. Investors are now eyeing Friday's release of the Personal Consumption Expenditures report, the Fed's preferred inflation measure, for clues about monetary policy direction. In the meantime, tech earnings continue to steer the market, offering a cushion against macroeconomic ambiguity heading into the second half of 2025.
Economic Times
2 days ago
- Business
- Economic Times
Europe trips could burn a bigger hole in your pocket as rupee near all‑time low against the euro
Agencies The rupee has fallen to its lowest level ever against the euro, making trips to Europe more expensive for Indian travellers, adding to rising costs for accommodation, meals and transport. Higher airfares and longer flight times caused by airspace restrictions because of the Israel‑Iran conflict has also made travel more challenging and costly as carriers adjust to new flight paths and fuel trend comes at a time when more Indians are choosing Europe for summer and year‑end trips. The rupee hit a record low of Rs 100.48 per euro on June 25, 2025. The rate dipped slightly to Rs 100.32 on June 26, but remains near its highest level ever, making accommodation, meals, sightseeing and transport costlier across Europe. The rupee has weakened sharply over the past decade. In 2015, one euro was Rs 72.12. By 2020, it rose to Rs 84.64, and by 2023, Rs 89.20. In 2024, it crossed Rs 90.55, and in June 2025, it surged past Rs 100 for the first time. The trend has been sharp in recent weeks. In the last week of April, one euro cost Rs 95.48. By early June, it rose to Rs 97.75. On June 23, 2025, the rupee crossed the Rs 100 mark against the euro for the first time, hitting an all‑time low. On June 25, it peaked at Rs 100.48. The rate was Rs 100.32 a day later, reflecting slight easing. More Indians travel despite rising costs Even as the euro becomes more expensive, more Indians are visiting Europe. According to Schengen visa data, over 1.3 million visa applications came from India in 2023, making it one of the top three source countries. Travel agents say growing income levels and interest in international holidays are keeping demand strong despite the rising conversion rate. 'People are still making trips despite the higher rate. They're choosing shorter trips or selecting more affordable accommodation, but Europe remains popular,' said a Mumbai‑based travel operator. Overtourism adds pressure The rise in visitor numbers has led to overtourism concerns across Europe. Cities like Venice, Barcelona and Amsterdam have introduced tourist taxes and tighter regulations. Venice now charges an entry fee for day‑trippers, and Barcelona has restricted short‑term rentals in certain Spain, rising tourist numbers have sparked protests in popular cities and islands. Residents in Barcelona, Mallorca and the Canary Islands have held rallies and put up signs complaining about overtourism, rising rents and pressure on local infrastructure. They have called for stricter rules, tourist caps and higher taxes to balance the benefits of tourism with the needs of local communities. With the rupee at its weakest point and popular destinations imposing new restrictions, trips to Europe are expected to remain challenging and costly for Indian travelers throughout the year. (Join our ETNRI WhatsApp channel for all the latest updates) Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Punit Goenka reloads Zee with Bullet and OTT focus. Can he beat mighty rivals? 3 critical hurdles in India's quest for rare earth independence HDB Financial may be cheaper than Bajaj Fin, but what about returns? INR1,300 crore loans for INR100? Stamp duty notice to ArcelorMittal, banks. Stock Radar: Titan Company breaks out from 3-month consolidation; check target & stop loss for long positions For risk-takers: More than bullish, be selective; 5 mid-cap stocks from different sectors with an upside potential of up to 38% Multibagger or IBC - Part 12: If transition is successful then there is no limit. But there is a big 'IF' These mid-cap stocks with 'Strong Buy' & 'Buy' recos can rally over 25%, according to analysts
Yahoo
2 days ago
- Business
- Yahoo
Morning Movers: General Mills dips following fourth quarter report
Futures are flat to slightly higher as the Israel‑Iran ceasefire remains stable and investor focus shifts to another day of testimony from Fed Chair Powell. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Oil prices have steadied around $65-$66 per barrel after a recent drop, easing inflation pressures and supporting equities. Treasury yields and the dollar have softened, buoyed by speculation that the Fed may cut rates as soon as July or September. Equities closed near record highs yesterday as tech remains in favor, led by chipmakers such as Nvidia, Broadcom and AMD as AI optimism continues. Markets are now awaiting Powell's second day of congressional testimony and with geopolitical tension more subdued, attention is firmly back on monetary policy and economic fundamentals. In pre-market trading, S&P 500 futures rose 0.15%, Nasdaq futures rose 0.34% and Dow futures were flat. Check out this morning's top movers from around Wall Street, compiled by The Fly. Also, subscribe to the daily Fly By on YouTube to stay ahead of each morning's action. HIGHER – Bumble (BMBL) up 15% after announcing plans to cut 30% of its workforce and raising its Q2 revenue view Rubrik (RBRK) up 1% after announcing it has entered into an agreement to acquire Predibase UP AFTER EARNINGS – Lotus Technology (LOT) up 6% Winnebago (WGO) up 1% Worthington (WOR) up 13% BlackBerry (BB) up 8% DOWN AFTER EARNINGS – Daktronics (DAKT) down 8% General Mills (GIS) down 4% Paychex (PAYX) down 1% FedEx (FDX) down 4% LOWER – Kymera Therapeutics (KYMR) down 4% after the company announced an update to its IRAK4 partnership with Sanofi (SNY) as well as Gilead (GILD) and the company announcing that they have entered into an exclusive option and license agreement Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on RBRK: Disclaimer & DisclosureReport an Issue Rubrik to acquire Predibase to 'accelerate agentic AI adoption' Rubrik to acquire Predibase, terms undisclosed Rubrik buys AI startup Predibase for $100M-$500M, CNBC reports Rubrik, Inc. Announces $1 Billion Convertible Notes Offering Rubrik, Inc.: Strong Financial Performance and Growth Potential Justify Buy Rating Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
