Gold Price

Key events: Eurozone - ECB's De Guindos Speaks Eurozone - ECB's Lane Speaks Eurozone - ECB President Lagarde Speaks The S&P 500 wrapped up the week with a notable loss on Friday, as optimism from the post-election rally faded in light of stronger-than-expected economic data. These developments raised concerns over the likelihood of fewer interest rate cuts by the Federal Reserve. The Dow Jones Industrial Average declined by 305 points (0.7%), the S&P 500 fell 1.4%, and the tech-heavy NASDAQ Composite slid 2.3%.

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Key events: Japan - BoJ Interest Rate Decision Eurozone - CPI (YoY) (Oct) USA - Core PCE Price Index (YoY) (Sep) USA - Core PCE Price Index (MoM) (Sep) USA - Initial Jobless Claims USA - Chicago PMI (Oct) The S&P 500 ended Wednesday in the red after alternating between gains and losses as investors assessed rising Treasury yields and a cooling rally in Alphabet. The Dow Jones Industrial Average dropped 78 points, or 0.2%, the S&P 500 shed 0.3%, and the NASDAQ Composite declined 0.5%.

Key events: USA - ADP Nonfarm Employment Change (Sep) USA - Crude Oil Inventories The S&P 500 declined on Tuesday as investors moved away from riskier assets due to escalating concerns over a broader Middle East conflict, following Iran's launch of multiple missiles targeting Israel. The Dow Jones Industrial Average dropped 173 points, or 0.4%, while the S&P 500 fell 1% and the NASDAQ Composite slid 1.5%.

Key events: UK - GDP (MoM) (Jul) USA - Core CPI (MoM) (Aug) USA - CPI (YoY) (Aug) USA - CPI (MoM) (Aug) USA - Crude Oil Inventories USA - 10-Year Note Auction The S&P 500 reversed early losses to finish higher on Tuesday, as gains in tech helped counter declines in the energy and financial sectors ahead of a key inflation report. The S&P 500 rose 0.5%, the Nasdaq Composite climbed 0.8%, while the Dow Jones Industrial Average dropped 92 points, or 0.2%.

Key events: USA - Durable Goods Orders (MoM) (Jul) US stocks surged on Friday as Treasury yields dropped following Federal Reserve Chair Jerome Powell's hints at upcoming rate cuts. The S&P 500 increased by 1.1%, resulting in a 1.5% weekly gain. Meanwhile, the Dow Jones Industrial Average jumped by 462 points, or 1.1%, and the NASDAQ Composite rose by 1.5%.

Key events: USA - Fed Chair Powell Speaks USA - New Home Sales (Jul) On Thursday, the S&P 500 ended in the red, weighed down by rising yields as investors took a cautious approach ahead of Federal Reserve Chairman Jerome Powell's upcoming speech at Jackson Hole. The Dow Jones Industrial Average dropped 177 points, or 0.4%, while the S&P 500 decreased by 0.8%, and the Nasdaq Composite saw a larger decline of 1.6%.

Key events: Canada - Employment Change (Jul) Canada - Unemployment Rate (Jul) The S&P 500 ended Thursday on a positive note as labor market data eased fears of an impending recession. The Dow Jones Industrial Average gained 683 points, or 1.8%, while the S&P 500 advanced 2.3%, and the NASDAQ Composite surged 2.9%.

Key events: USA - Average Hourly Earnings (MoM) (Jul) USA - Nonfarm Payrolls (Jul) USA - Unemployment Rate (Jul)  The S&P 500 started August under significant pressure on Thursday as softer economic data rekindled recession concerns. The Dow Jones Industrial Average dropped 669 points or 1.6%, the S&P 500 fell 2.8%, and the NASDAQ Composite decreased 2.8%.

Key events: USA - Durable Goods Orders (MoM) (Jun) USA - GDP (QoQ) (Q2) USA - Initial Jobless Claims The S&P 500 experienced a significant decline on Wednesday, marking its largest one-day loss since 2022, as tech stocks plummeted following disappointing second-quarter earnings from Alphabet and Tesla. The S&P 500 fell 2.2%, the steepest drop since December 15, 2022. The NASDAQ Composite slid 3.6%, and the Dow Jones Industrial Average dropped 504 points, or 1.3%.