Economy
Oil and gold rise as occupation of Gaza continues Economy
Crude oil prices rose in Thursday’s trade, while gold futures rose. This comes in light of continued aggression against Israel Gaza stripThe occupation army has carried out intensive bombings that have killed more than 9,000 Palestinians and injured more than 22,000, in light of fears that the conflict could spread to other parts of the oil-rich and restricted Middle East. Important global corridors.
In Thursday’s trade, US West Texas Intermediate crude rose 0.9% to $81.2 a barrel for next December, while Brent crude, the international oil standard, rose 0.9% to $85.41 a barrel. Next January..
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Meanwhile, sources said oil traders will pay the price for annual supplies of most Middle East crude in 2024 due to supply concerns from the region after the Israeli occupation of Gaza led to heightened geopolitical tensions.
Most of the annual contracts to buy Middle Eastern crude oil ended earlier in the week, a month after clashes between Israel and Palestinian resistance erupted, raising fears of a wider conflict in the region. The Middle East accounts for about a third of production, leading to fluctuations in global oil prices.
Fluctuations in oil markets may have led to higher prices for some commodities sold in these annuity contracts, a trader said.
Gold rises
In Thursday’s trade, gold prices rose as the dollar weakened after the US Federal Reserve (Federal Bank) announced its decision to keep interest rates on hold.
In market trade on Thursday, the dollar index against other major currencies fell to 105.81 points.
In early New York trading, the dollar later rose to 106.12 points, 0.72% below its level on Wednesday.
Gold rose $6 an ounce on Thursday to reach $1,993.50 an ounce next December.
Silver also rose to $22.846 an ounce the following December, while copper rose to $3.6725 a pound the following December.
On Wednesday, the Federal Reserve kept the key interest rate at 5.25% to 5.5%, in line with expectations.
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Dubai: “The Gulf”
Performance of stocks in GCC countries varied during the week; Dubai Financial Market Index alone lost 0.91% to 3951.52 points and Abu Dhabi Market Index lost 1.45% to 9400.75 points in 4 sessions.
In Saudi Arabia, the main market index TASI increased the week’s trade by 0.43% to close at 11,225 points, compared to 11,177 points at the end of the previous week.
In Kuwait, the general market index rose 0.33% for the week to close at 6654.64 points, compared to 6632.47 points at the end of the previous week.
In Bahrain, the Bahrain General Index rose 0.13% on the week to close at 1942.35 points, compared to last week’s 1939.77 points.
In Qatar, the Qatar Stock Exchange Index fell 1.93% in 5 sessions to close at 9,848.15 points, compared to 10,062.64 points at the end of last week.
In the Sultanate of Oman, the Muscat Stock Exchange Index fell 1.37% during the 5-session session to close at 4594.41 points, compared to 4658.17 points at the end of the previous week.
Outside the Gulf region, the Egyptian stock market index “EGX 30” increased the week’s trade by 0.46% to end at 24,686.16 points, compared to last week’s close of 24,571.98 points.
Weekly performance:
Egypt +0.46%
Saudi Arabia +0.43%
Kuwait +0.33%
Bahrain +0.13%
Dubai 0.91% –
Oman 1.37% –
Abu Dhabi 1.45% –
Qatar 1.93% –
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Economy
US stock indices rose at the end of today’s session; The Dow Jones Industrial Average rose 0.36%.
Investing.com – U.S. stocks were higher after the close on Friday, as the , , and .
By the end of trading in New York, it was up 0.36%, hitting its highest record level in more than 52 weeks, while it rose about 0.41% to close around 0.45%.
One stock stood out among today’s leading stocks Boeing Co (NYSE: ), which rose 3.00% or 7.12 points to 244.45. On the other hand, Goldman Sachs Group Inc. (NYSE: ) was up 1.82% or 6.27 points to end at 350.89. Chevron Corp (NYSE: ) was up 1.33% or 1.90 points to end at 144.32.
On weak performance at the end of today’s trade, Honeywell International Inc. (NASDAQ: ) traded down 1.61% or 3.18 points to trade at 194.61 at the close. Wal-Mart Stores Inc. (NYSE: ) traded down 1.08% or 1.64 points to 150.82, while Verizon Communications Inc . (NYSE: ) stock declined 1.05% or 0.41 points to close at . 38.24.
On the other hand, the best performers on the S&P 500 index were Paramount Global Class B (NASDAQ: ), which rose 12.11% to trade at 16.85, followed by Warner Bros Discovery Inc (NASDAQ: ). Shares rose 6.01% to close at 11.47 Lululemon Athletics Inc (NASDAQ: ) rose about 5.37% to trade at 489.64.
Among the weakest performing stocks today, we mention the company’s stock Enphase Energy Inc (NASDAQ: ), fell 3.88% to settle at 103.01, Dollar General (NYSE: ), lost 3.86% to 127.19, and Illumina Inc (NASDAQ: ), lost 3.58% to close at 112.94 in today’s session. In the stock market.
On the other hand, the best performance in the Nasdaq index was recorded by stocks Intensive treatment Inc (NASDAQ: ), soared 63.81% at the price of 6.88, Conduit Pharmaceuticals Inc (NASDAQ: ) continued its rise at 45.48% and closed at 5.15 volume. Assure Holdings Corp (NASDAQ: ) rose about 34.43% to trade at 0.35.
Among the weakest performing stocks today, we mention the company’s stock Sink Inc (NASDAQ: ), which plunged 47.00% to close its session at 0.21, Golden Heaven Group Holdings Limited (NASDAQ: ), which lost 41.38% at 1.36, and Bluebird Bio Inc (NASDAQ: ), which lost 40.54% to close at 2.86 in the stock market today.
The number of shares that gained more than the number of shares closed on a lower trading basis on the New York Stock Exchange was unchanged at 82, with 1647 compared with 1237. As for Nasdaq, 1,959 stocks strengthened their position, 1,503 stocks declined, while 119 stocks maintained their value.
Lululemon Athletica Inc (NASDAQ: ) rose to an all-time high, up 5.37% or 24.97 points to trade at 489.64. The Boeing Co (NYSE: ) traded up 3.00% or 7.12 points to trade at 244.45 to hit its 52-week high. Shares of Intensity Therapeutics Inc (NASDAQ:) soared to an all-time high of 6.88 by adding 63.81% or 2.68 points to trade at 6.88. Shares of Golden Heaven Group Holdings Ltd. (NASDAQ: ) fell to new record lows, declining 41.38% or 0.96 points to trade at 1.36.
It measures the implied standard deviation of options on the S&P 500 index, which fell 5.44% to close at 12.35, hitting its highest record level in 3 years.
Gold futures for February delivery were down 1.30%, or 26.55, at $2,019.85 an ounce. In other commodities trading, WTI crude oil futures for January delivery rose 2.80% or 1.94 to settle at $71.28 a barrel, while the February contract for Brent oil futures was up 2.51% or 1.86 points. and closed at $75.91 per barrel.
The EUR/USD pair maintained stability at 0.26% and traded at 1.08 levels, while the USD/JPY pair continued to gain 0.59% to reach 144.97 levels.
Dollar index contracts traded up 0.43% at 103.95.
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The Euro went back and forth during Thursday’s session, focusing on the 200-day EMA, an indicator that people sometimes focus on. At the same time, the market found itself testing the 1.0750 level, which had previously led to significant price volatility. Taking all factors into account, this situation highlights the situation where the Euro is preparing for a consolidation mode, which is waiting for an improvement in the US bond markets. Interest rates have played an important role in currency markets in recent times as traders discern the Federal Reserve’s stance on monetary policy – whether it will ease or maintain a more conservative approach.
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Also, the recent decline in interest rates may indicate market expectations of an impending economic downturn, which tends to promote the safe-haven status of the US dollar. This dynamic manifests itself in increased demand for US bonds, which subsequently leads to lower yields and higher demand for the US dollar.
Further complicating the situation is the influx of capital into Europe, which is struggling with the problems of the Great Recession. Overall, prevailing landscape traders face short-term rallies, although support should remain in the intervention area. It’s worth noting that next Friday’s session will be important, as employment data could influence the central bank’s course of action, or at least the perception of what it may or may not do. The market will continue to ask a lot of questions about the EU, which will favor the US dollar. Additionally, if the world slips into a major recession, the US dollar is usually a safe haven for traders.
Ultimately, the Euro is going through a challenging environment right now and the 1.0850 level is one to watch as it struggles with various factors. A break of this level could indicate an upward trend, although the current momentum is insufficient to facilitate such a move. It’s conceivable that a significantly weaker employment report could give the markets the momentum they need to return to volatility and make this market move very quickly. However, as we approach the end of the year, this could mean a decrease in volume, making markets difficult to predict.
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