Risk sentiment deteriorated sharply on Wednesday as a wave of disappointing earnings guidance and escalating U.S.-China trade tensions rattled investor confidence.
Gold prices suffered a sharp correction on Tuesday as investors locked in profits following this year's explosive rally, while optimism across earnings kept industrial stocks powering higher and pushed the Dow Jones to fresh record highs.
Wall Street shrugged off credit concerns that battered bank stocks on Wednesday, with large-cap indices posting slight gains by midday trading in New York, setting up for a positive weekly close.
According to data from Fiscal AI, analysts on average expect the company to report earnings per share of $0.53, below the $0.72 reported in the September quarter of 2024.
In an otherwise cautious session on Wall Street, gold and silver stole the spotlight once again, with both precious metals pushing to fresh record highs — gold touching $4,270 per ounce and silver climbing to $53.90.
