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Mixed Performance on Wall Street as US Debt Ceiling Concerns and Nvidia Surge Impact Stocks; Eurozone Inflation Data Awaited | Daily Market Analysis
Key events: Canada – GDP (MoM) (Mar) Eurozone – ECB President Lagarde Speaks USA – JOLTs Job Openings (Apr) Tuesday's closing session on Wall Street saw a mixed performance among stocks. Concerns emerged due to certain US lawmakers opposing a deal to raise the debt ceiling, which amounted to $31.4 trillion. However, the market received support from a significant surge in Nvidia (NASDAQ: NVDA) shares. This surge momentarily elevated the chipmaker's value to $1 trillion, a rare achievement.
Wall Street Soars as Nvidia Forecasts Surge, European Markets Face Losses Amid Recession Fears | Daily Market Analysis
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US Stocks Slide on Weak Home Depot Forecast and Retail Sales; Gold Prices Dip Amid Debt Ceiling Uncertainty | Daily Market Analysis
Key events Eurozone - CPI (YoY) (Apr) UK - BoE Gov Bailey Speaks USA - Building Permits (Apr) USA - Crude Oil Inventories On Tuesday, the US stock indices ended the day in negative territory due to unfavorable predictions made by Home Depot (NYSE: HD) and the release of April's US retail sales data, which indicated a decrease in consumer spending. Additionally, concerns surrounding interest rates and ongoing negotiations regarding the debt limit had a dampening effect on market sentiment.
US Market Shows Modest Gains Amid Manufacturing Concerns, Gold Prices Dip on Rate Hike Warnings | Daily Market Analysis
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Investing in Precious Metals in 2023
Precious metals such as gold, silver, platinum, and palladium have been valued for centuries for their rarity, beauty, and durability. While these metals are often used in jewelry, they also have many industrial and technological applications. Additionally, precious metals have long been seen as a hedge against inflation and a safe haven for investors during times of economic turmoil.
US Stocks Fall Amid Debt Ceiling Concerns and Inflation Data | Daily Market Analysis
Key events: USA - Core CPI (MoM) (Apr) USA - CPI (MoM) (Apr) USA - CPI (YoY) (Apr) USA - Crude Oil Inventories S&P 500 daily chart
Mixed Stock Market As Investors Await Key CPI Data | Daily Market Analysis
Key events: Australia – Retail Sales (MoM) USA – EIA Short-Term Energy Outlook At the beginning of the week, the stock market was mixed and lacking direction in terms of risk appetite, as investors await the release of key US CPI data and a string of corporate earnings reports later in the week. Dow Jones Industrial Average closed lower amidst range-bound trading as investors awaited further catalysts, including the consumer inflation report that is due later in the week.
Gold Hits $2,000 As Markets Eye Fed Interest Rate Decision | Daily Market Analysis
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