Dow rises and Oil prices make gains

Chris Beauchamp IG

Wall Street has risen in afternoon trading as voting gets underway, while oil prices have been pushed higher by weather concerns and expectations of a cut in supply next year, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

US stocks rise as voting begins

“US markets aren’t showing many signs of nervousness as voting gets underway. While the political tension in the US has been ratcheted up to a high level, the market has remained calm, showing some of the usual pre-election weakness but otherwise holding steady. A clear winner within the next day would be the ideal outcome here, while a long, drawn-out legal challenge is likely to keep bullish sentiment in check.”

Oil prices rise further

“The prospect of supply disruptions in the US due to weather and poor earnings from Aramco have combined to drive oil higher for another day. Aramco’s results signal further pressures ahead for Saudi Arabia’s oil giant, and questions will now be asked about its dividend, which is rapidly consuming the firm’s cash pile. A production cut to juice oil prices would do much to bolster cash flow.”

Author

Chris Beauchamp

Chris Beauchamp has been with IG for four years, and in that time has become a regular commentator and analyst for the financial press and TV, with appearances on all the major financial channels as well as the BBC and Sky News.

GBP/USD remains slightly bid near 1.3300

GBP/USD now advances marginally and manages to dispute the 1.3300 region on Tuesday. Indeed, Cable regains some balance on the back of the lacklustre performance of the Greenback, all preceding the Fed’s meeting on Wednesday and the BoE’s gathering on Thursday.

EUR/USD recedes from tops, back below 1.1400

EUR/USD manages to set aside part of the recent weakness and clinches decent gains on Tuesday. Indeed, spot keeps the trade below the 1.1400 mark amid acceptable losses in the US Dollar, all following rising optimism of a US-Iran deal and steady caution prior to the FOMC gathering on Wednesday.

Gold bounces on poor US data

Gold remains under marked downside pressure on Tuesday, although the $4,000 zone per troy ounce emerges as a decent support for now. The precious metal’s pullback comes despite the modest losses in the US Dollar in a context of easing geopolitical tensions ahead of the key Fed event on Wednesday.

XRP falls toward $1.00 despite dwindling exchange reserves

Ripple (XRP) continues to trade under increasing pressure on Tuesday. This marks the second consecutive day of declines, reflecting broader risk-off sentiment as investors appear to shift gears in anticipation of the Federal Reserve (Fed) interest rate decision. On Wednesday, the Federal Open Market Committee (FOMC) is widely expected to leave interest rates unchanged in the 3.50%-3.75% range.

Warning signs in the stock market: Is this the top, or just a very short fuse?

Overnight, South Korea's Kospi fell more than 10%, SK Hynix lost close to 15% and Samsung Electronics lost 13%. Into that, Dow Jones Industrial Average futures traded up around 1% on paint and soft drinks, and S&P 500 futures sat roughly flat. An index that absorbs a memory-chip panic and prints nothing is not a calm market.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.