Gold prices retreated on Tuesday as investors took profits following a recent surge and amid reduced expectations of Federal Reserve rate cuts, while awaiting crucial U.S. inflation data scheduled for later this week. At 0940 GMT, spot gold declined by 0.3% to $2,343.99 per ounce, following a 0.7% increase on Monday. Despite slipping below […]

  Eurozone consumers reduced their inflation expectations last month, according to a recent European Central Bank (ECB) survey released on Tuesday. This comes as the ECB prepares to reverse a record series of interest rate hikes. The survey revealed that expectations for inflation over the next 12 months dropped to 2.9% from 3.0% the previous

  Global oil prices stabilized on Tuesday, driven by the expectation that OPEC+ will maintain its supply cuts during the upcoming June 2 meeting, coupled with hopes for robust U.S. summer fuel demand. These factors helped offset concerns about prolonged high U.S. interest rates. On Monday, oil prices increased by over 1% in light trading

  Prosecutors handling former U.S. President Donald Trump’s classified documents case have requested a federal judge to restrict Trump from making statements that could endanger law enforcement, according to a court document filed on Friday. Special Counsel Jack Smith, in a motion to modify Trump’s release conditions, argued that this measure is necessary due to

  Apple’s (NASDAQ) smartphone shipments in China surged by 52% in April compared to the same month last year, continuing a rebound from the previous month, according to data from a research firm linked to the Chinese government. Data from the China Academy of Information and Communications Technology (CAICT) revealed that shipments of foreign-branded phones

  The S&P 500 could fall below the 5000 mark if macroeconomic pressures, especially high inflation, persist, according to RBC Capital Markets analysts in a note released on Monday. The report emphasizes that the market’s current price-to-earnings (P/E) ratio might decline under ongoing inflationary pressures and a lack of anticipated interest rate cuts by the

  On Monday, lawyers for Donald Trump requested a federal judge to dismiss prosecutors’ call for a gag order that would restrict what the former U.S. president can say about law enforcement officers involved in his case regarding the mishandling of sensitive documents. Trump’s legal team also urged U.S. District Judge Aileen Cannon in Fort

  Proxy advisory firm Glass Lewis advised Tesla (NASDAQ) shareholders on Saturday to reject a $56 billion pay package for Chief Executive Officer Elon Musk, which, if approved, would be the largest CEO pay package in U.S. corporate history. Glass Lewis cited several reasons for this recommendation, including the “excessive size” of the pay deal,

  The Federal Reserve should wait for more substantial progress on inflation before considering interest rate cuts, Minneapolis Federal Reserve President Neel Kashkari told CNBC on Tuesday. When asked about the conditions for rate cuts in 2024, Kashkari said, “We need many more months of positive inflation data to give me confidence that it’s appropriate

  JPMorgan strategists suggest that investors should consider shifting towards defensive and commodity stocks in anticipation of upcoming central bank rate cuts. Historically, defensive stocks have underperformed when bond yields were rising. However, this phase might be concluding, according to the Wall Street giant. During the November-December period, cyclicals rallied as the US 10-year yield