Energy markets dominated headlines Thursday as a fresh wave of U.S. sanctions targeting Russia's oil giants sparked a sharp rebound in crude prices and lifted energy shares.
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.
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.
Wall Street rose on Wednesday, with investor optimism lifted by strong bank and corporate earnings alongside growing expectations for further Federal Reserve rate cuts — keeping trade concerns sidelined for now.
U.S. stocks edged lower on Thursday, pausing after a record-setting run. The S&P 500 slipped 0.4% by midday in New York, retreating from an all-time high of 5,674 hit at the open.
