Gold rebounds after 2 days of correction
Gold prices rebounded on Wednesday as inflation concerns pushed investors into the safe-haven metal, even as better-than-expected US retail data strengthened the dollar making gold expensive for holders of other currencies. Spot gold was up 0.9% to $1,865.66 an ounce, after dropping in the previous two days following a seven-session rally.
Wall Street Corrects On Inflation Concerns
Wall Street's three main indexes weakened in late trading Wednesday on inflation and supply chain concerns stemming from retailer earnings. Investors are betting the Federal Reserve will raise interest rates sooner than expected to cushion rising prices. The Dow Jones Index was down 0.58% at 35,931.05, the S&P 500 was down or 0.26% at 4,688.67 and the Nasdaq Composite was down 0.33% at 15,921.57.
Today's Focus: Jobless Claims & Philly Fed Manufacturing Index, Williams' Speech
Not so much economic data released today, the market's focus will probably still be on the prospect of a Fed rate hike after the recent solid US economic data. Today, there are several US data worth listening to to strengthen these expectations, including jobless claims and the Philly Fed manufacturing index. Markets will also focus on Fed Official John Williams' speech. Wall Street Corrects On Inflation Concerns
Wall Street's three main indexes fell in late trading Wednesday on inflation and supply chain concerns stemming from retailer earnings. Investors are betting the Federal Reserve will raise interest rates sooner than expected to cushion rising prices. The Dow Jones Index was down 0.58% at 35,931.05, the S&P 500 was down or 0.26% at 4,688.67 and the Nasdaq Composite was down 0.33% at 15,921.57.
Today's Focus: Jobless Claims & Philly Fed Manufacturing Index, Williams' Speech
Not so much economic data released today, the market's focus will probably still be on the prospect of a Fed rate hike after the recent solid US economic data. Today, there are several US data worth listening to to strengthen these expectations, including jobless claims and the Philly Fed manufacturing index. Markets will also focus on Fed Official John Williams' speech.
Gold prices rebounded on Wednesday as inflation concerns pushed investors into the safe-haven metal, even as better-than-expected US retail data strengthened the dollar making gold expensive for holders of other currencies. Spot gold was up 0.9% to $1,865.66 an ounce, after dropping in the previous two days following a seven-session rally.
Wall Street Corrects On Inflation Concerns
Wall Street's three main indexes weakened in late trading Wednesday on inflation and supply chain concerns stemming from retailer earnings. Investors are betting the Federal Reserve will raise interest rates sooner than expected to cushion rising prices. The Dow Jones Index was down 0.58% at 35,931.05, the S&P 500 was down or 0.26% at 4,688.67 and the Nasdaq Composite was down 0.33% at 15,921.57.
Today's Focus: Jobless Claims & Philly Fed Manufacturing Index, Williams' Speech
Not so much economic data released today, the market's focus will probably still be on the prospect of a Fed rate hike after the recent solid US economic data. Today, there are several US data worth listening to to strengthen these expectations, including jobless claims and the Philly Fed manufacturing index. Markets will also focus on Fed Official John Williams' speech. Wall Street Corrects On Inflation Concerns
Wall Street's three main indexes fell in late trading Wednesday on inflation and supply chain concerns stemming from retailer earnings. Investors are betting the Federal Reserve will raise interest rates sooner than expected to cushion rising prices. The Dow Jones Index was down 0.58% at 35,931.05, the S&P 500 was down or 0.26% at 4,688.67 and the Nasdaq Composite was down 0.33% at 15,921.57.
Today's Focus: Jobless Claims & Philly Fed Manufacturing Index, Williams' Speech
Not so much economic data released today, the market's focus will probably still be on the prospect of a Fed rate hike after the recent solid US economic data. Today, there are several US data worth listening to to strengthen these expectations, including jobless claims and the Philly Fed manufacturing index. Markets will also focus on Fed Official John Williams' speech.