Money
US stocks rebound, tech stocks perform
Wall Street stocks finished a volatile week on a positive note following strong new home sales data.
New home sales surged more than 20 percent in March, pushing the annualized sales rate to a 15-year high.
The strong data helped the market shrug off weakness seen elsewhere much of the week.
The Dow finished up 0.7 percent, while the S&P 500 advanced 1.1 percentand the tech-rich Nasdaq umped 1.4 percent.
The S&P500’s 1.09 per cent rally was led by materials and financial stocks, with defensive sectors lagging the pack, in part owing to a little lift in bond yields in response to the strong economic data.
The gains were fairly broad-based though, with US-tech stocks also performing well, as the NASDAQ ran 1.44 per cent higher. It was the small-cap Russell 200 that topped them all, with the index gaining 1.76 per cent for the day’s trade.
There proved a pro-risk tilt in FX markets too on Friday night.
The US Dollar markedly underperformed, falling right across the G10 currency space, as it continued to weaken against its fellow G4 safe-havens, while the high-beta plays proved the strongest performers across the entire pack.
The EUR/USD extended its resurgence, somewhat on budding hopes of its vaccine drive to, close in on the 1.21 handle, with US Dollar Index grinding into support below the 91.00 level.
The AUD/USD also popped on the little in sentiment and commodity prices, to currently fetching a touch below 0.7750.
Money
U.S. and China approve TikTok sale to American investors
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
US and China approve TikTok’s sale to Oracle and Silver Lake amid regulatory scrutiny, with ByteDance retaining 20%.
The United States and China have officially approved a deal for TikTok’s US operations to be sold to American investors, led by Oracle and Silver Lake.
This marks a major shift in the social media landscape as the platform navigates increasing regulatory scrutiny.
Under the new agreement, ByteDance will retain just under 20% of TikTok US, while Oracle and Silver Lake will each take 15% stakes. Other investors will also participate, forming a structure designed to satisfy both commercial and regulatory demands.
The new US-based entity will have a majority American board tasked with overseeing data protection and content moderation. Despite these safeguards, concerns remain about ByteDance’s influence and whether the deal fully complies with recent legislation.
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Money
Markets tumble as Trump tariffs, Greenland rhetoric and Europe backlash collide
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. stocks plummet over 800 points amid renewed tariff threats and political tensions from Trump, sparking global trade concerns.
U.S. equities took a sharp hit as markets reacted to renewed tariff threats and heightened political rhetoric from President Donald Trump. The Dow plunged more than 800 points, with the S&P 500 and Nasdaq also sliding as investor nerves rattled risk assets.
The sell-off highlights growing concern around global trade tensions and geopolitical uncertainty, with markets struggling to price in what comes next for U.S. economic leadership and policy direction.
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Money
Gold hits record highs as investors flee risk
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold surges amid global uncertainty, with February futures rising 1.71% to $4,674.20 per ounce, signaling safe-haven demand.
Gold is shining brighter than ever as investors flock to safe-haven assets amid global uncertainty. U.S. gold futures for February delivery jumped 1.71% to $4,674.20 per ounce, while spot gold rose 1.6% to $4,668.14.
The surge comes as geopolitical tensions continue to worry traders, prompting a rush into metals perceived as stable and secure. Analysts say gold is proving its status as the ultimate hedge during turbulent times.
Investors are closely watching markets as gold sets new benchmarks, signalling growing caution across the financial landscape.
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