U.S. stocks rose on Monday, with retailers including Urban Outfitters gaining as investors bet lower gasoline prices will translate into increased sales as consumers shop for holiday gifts.
“It’s a theme we’re moving back to again, it’s all about the consumer. This is Black Friday, and we have more confident consumers going out shopping this year, especially because of lower gas prices,” Chris Gaffney, senior market strategist at EverBank, said of the unofficial start to the holiday shopping season.
Tetraphase Pharmaceuticals surged after Bloomberg News reported the biotechnology company was exploring a sale. Platinum Underwriters Holdings rose after the reinsurer said RenaissanceRe Holdings would purchase it.
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EUR/USD keeps the bullish performance above 1.0700
The continuation of the sell-off in the Greenback in the wake of the FOMC gathering helped EUR/USD extend its bounce off Wednesday’s lows near 1.0650, advancing past the 1.0700 hurdle ahead of the crucial release of US NFP on Friday.
Gold stuck around $2,300 as market players lack directional conviction
Gold extended its daily slide and dropped below $2,290 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield erased its daily losses after US data, causing XAU/USD to stretch lower ahead of Friday's US jobs data.
Bitcoin price rises 5% as BlackRock anticipates a new wave of capital inflows into BTC ETFs from investors
Bitcoin (BTC) price slid to the depths of $56,552 on Wednesday as the cryptocurrency market tried to front run the Federal Open Market Committee (FOMC) meeting. The flash crash saw millions in positions get liquidated.
FOMC in the rear-view mirror – NFP eyed
The update from May’s FOMC rate announcement proved more dovish than expected, which naturally weighed on the US dollar (sending the DXY to lows of 105.44) and US yields, as well as, initially at least, underpinning major US equity indices.