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Yahoo
11-06-2025
- Business
- Yahoo
Ether Surges Toward $3K on Tentative U.S.–China Trade Pact and Soft U.S. CPI Report
Ether (ETH) ETH drifted around $2,770 for most of Tuesday until roughly 8 p.m. ET, when officials said negotiators in London had forged a draft U.S.–China trade framework. The outline — till awaiting presidential approval — would see Beijing resume rare-earth exports while Washington eases curbs on advanced-technology sales. At 8:04 a.m. ET on Wednesday, former U.S. president Donald Trump posted on Truth Social that 'OUR DEAL WITH CHINA IS DONE,' pending his and President Xi's formal approval. Trump claimed the accord would leave U.S. tariffs on Chinese imports effectively at 55 percent versus Beijing's 10 percent, promised that China would front-load supplies of magnets and other rare-earth materials, and said Washington would uphold concessions such as continued access for Chinese students to American universities, describing the bilateral relationship as 'excellent.' Hopes for a thaw in the multi-year tariff dispute sparked an initial risk-on bid: global equity futures firmed, bitcoin ticked higher and ether pushed to about $2,780 on expanding spot turnover. Risk appetite intensified eleven hours later, around 8:30 a.m. ET on Wednesday, after the U.S. Labor Department reported that May headline and core CPI each rose just 0.1 percent month on month, undercutting economists' 0.2 percent forecasts. The cooler print fueled expectations the Federal Reserve could trim rates later this year, driving Treasury yields and the dollar lower while extending gains in equities. Against that macro backdrop, ether vaulted from the upper-$2,780s to an intraday high of $2,873.46, with spot volume swelling to roughly 527,000 coins (~$1.47 billion), according to CoinDesk Research's technical analysis model. Structural tailwinds remain strong. Staked ETH climbed to a record 34.65 million tokens (≈28.7 percent of supply), exchange-traded funds logged a 16-day inflow streak near $900 million, and futures open interest printed a fresh high above $21.7 billion — all underscoring steady institutional engagement. BlackRock's reported $500 million accumulation over the past ten days exemplifies that theme. Traders now look for a decisive close above $2,900 to open a potential run at the psychological $3,000 mark, while guarding against a pullback toward the newly established $2,750–$2,760 support band. Technical Analysis Highlights Trend: Series of higher lows since June 9 and a fresh higher high at $2,873 confirm an accelerating up-channel. Volume confirmation: CPI-triggered candle printed the day's largest bar (≈527 K ETH), validating Tuesday's breakout above $2,800. Support / resistance: Immediate support sits at $2,750–$2,760; upside targets are $2,900 and the psychological $3,000 zone, followed by a secondary hurdle near $3,120. Momentum: Hourly RSI holds above 60, indicating room to extend before overbought conditions emerge. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Economic Times
07-06-2025
- Business
- Economic Times
Gold prices fall over 1% as strong US jobs data clouds outlook for rate cuts
Gold prices saw a decline following a robust U.S. jobs report. This dimmed hopes for Federal Reserve rate cuts. Silver prices, however, surged to a multi-year high. The U.S. Labor Department revealed an increase in non-farm payrolls. Platinum and palladium also experienced gains. Trade policy uncertainties continue to influence market dynamics. Investors are closely monitoring economic data and geopolitical developments. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Gold prices slipped more than 1% on Friday after a stronger-than-expected U.S. jobs report dampened hopes for imminent Federal Reserve rate cuts this year, while silver soared to its highest level since gold fell 1.1% to $3,316.13 an ounce, as of 02:28 p.m. ET (1828 GMT), but rose 0.8% for the week so far.U.S. gold futures settled 0.8% lower at $3,346.60.A U.S. Labor Department report showed non-farm payrolls increased 139,000 in May, compared with estimates for a rise of 130,000, according to economists polled by Reuters. The unemployment rate stood at 4.2%, in line with came in line with estimates, which is a negative for gold as the data suggests that the Fed is going to stay on hold for a little while, Marex analyst Edward Meir policymakers are seen as waiting until September to cut rates, with just one more cut in view by December, based on trading in short-term interest-rate futures, which also showed traders backing away from bets that would pay off if the U.S. central bank delivered a third rate cut by the end of the is considered a hedge against inflation and geopolitical uncertainty. But higher rates reduce the appeal of bullion as it yields no the trade policy front there was little clarity after the highly anticipated call between U.S. President Donald Trump and Chinese leader Xi Jinping on Thursday."These are very difficult negotiations and they're not going to be solved just on the phone. If the tariff headlines become negative, that's bullish for gold," Meir silver fell 0.5% to $35.96, after hitting a more than 13-year high in silver "look like were driven by speculative flows seeing it is way too cheap versus gold, the break above the $35/oz mark amplified the move," said Giovanni Staunovo, UBS rose 2.5% to $1,158.20, highest since March 2022, while palladium was up 3.9% to $1,045.45. Both the metals were on track for weekly gains.
Time of India
07-06-2025
- Business
- Time of India
Gold prices fall over 1% as strong US jobs data clouds outlook for rate cuts
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Gold prices slipped more than 1% on Friday after a stronger-than-expected U.S. jobs report dampened hopes for imminent Federal Reserve rate cuts this year, while silver soared to its highest level since gold fell 1.1% to $3,316.13 an ounce, as of 02:28 p.m. ET (1828 GMT), but rose 0.8% for the week so far.U.S. gold futures settled 0.8% lower at $3,346.60.A U.S. Labor Department report showed non-farm payrolls increased 139,000 in May, compared with estimates for a rise of 130,000, according to economists polled by Reuters. The unemployment rate stood at 4.2%, in line with came in line with estimates, which is a negative for gold as the data suggests that the Fed is going to stay on hold for a little while, Marex analyst Edward Meir policymakers are seen as waiting until September to cut rates, with just one more cut in view by December, based on trading in short-term interest-rate futures, which also showed traders backing away from bets that would pay off if the U.S. central bank delivered a third rate cut by the end of the is considered a hedge against inflation and geopolitical uncertainty. But higher rates reduce the appeal of bullion as it yields no the trade policy front there was little clarity after the highly anticipated call between U.S. President Donald Trump and Chinese leader Xi Jinping on Thursday."These are very difficult negotiations and they're not going to be solved just on the phone. If the tariff headlines become negative, that's bullish for gold," Meir silver fell 0.5% to $35.96, after hitting a more than 13-year high in silver "look like were driven by speculative flows seeing it is way too cheap versus gold, the break above the $35/oz mark amplified the move," said Giovanni Staunovo, UBS rose 2.5% to $1,158.20, highest since March 2022, while palladium was up 3.9% to $1,045.45. Both the metals were on track for weekly gains.
06-06-2025
- Business
Asian shares mostly gain ahead of Friday's US jobs report
TOKYO -- Asian shares were mostly higher Friday ahead of an update on the U.S. job market that will offer insights into how the economy is faring. U.S. futures edged higher and oil prices fell. Tokyo's Nikkei 225 index rose 0.5% to 37,730.67, while the Kospi in South Korea jumped 1.5% to 2,812.05. Hong Kong's Hang Seng lost 0.4% to 23,817.10 and the Shanghai Composite index edged 0.1% higher, to 3,385.91. Australia's S&P/ASX 200 was nearly unchanged at 8,536.40. India's Sensex gained 0.6%. On Thursday, the S&P 500 fell 0.5% to 5,939.30 for its first drop in four days. After sprinting through May and rallying within a couple good days' worth of gains of its all-time high, the index at the center of many 401(k) accounts has lost momentum. The Dow Jones Industrial Average dropped 0.3% to 42,319.74, and the Nasdaq composite sank 0.8% to 19,298.45. The U.S. Labor Department is due to report how many more jobs U.S. employers created than destroyed during May. The expectation on Wall Street is for a slowdown in hiring from April. A resilient job market has been one of the linchpins that's propped up the U.S. economy, and the worry is that all the uncertainty created by President Donald Trump's on-and-off tariffs could push businesses to freeze their hiring. A report on Thursday said more U.S. workers applied for unemployment benefits last week than economists expected. The number remains relatively low compared with history, but it still hit its highest level in eight months. The data came as Procter & Gamble, the giant behind such brands as Pampers diapers and Cascade dish detergent, said it will cut up to 7,000 jobs over the next two years. Its stock fell 1.9%. The day's heaviest weight on the market was Tesla, which tumbled 14.3%. It's lost nearly 30% of its value so far this year as CEO Elon Musk's relationship with Trump sours amid a disagreement over the president's signature bill of tax cuts and spending. In after-hours trading Tesla gained 0.8%. Brown-Forman, the company behind Jack Daniel's and Woodford Reserve, dropped 17.9% for its worst day since it began trading in 1972. Hopes that Trump will lower his tariffs after reaching trade deals with other countries have been among the main reasons the S&P 500 has rallied back so furiously since dropping roughly 20% from its record two months ago. It's now back within 3.3% of its all-time high. Trump boosted such hopes Thursday after saying he had 'a very good phone call' with China's leader, Xi Jinping, about trade and that 'their respective teams will be meeting shortly at a location to be determined.' It's an easing of tensions after the world's two largest economies had earlier accused each other of violating the agreement that had paused their stiff tariffs against each other, which threatened to drag the economy into a recession. Markets took the latest signs of detente with Beijing coolly, given that nothing is assured in Trump's on-and-off rollout of tariffs. Among Wall Street's winners was MongoDB, which jumped 12.8% after the database company likewise delivered a stronger profit than analysts expected. Circle Internet Group, the U.S.-based issuer of one of the most popular cryptocurrencies, surged 168.5% in its first day of trading on the New York Stock Exchange. The yield on the 10-year Treasury held steady at 4.40%, up from 4.37% late Wednesday after tumbling from 4.46% the day before. Yields dropped so sharply on Wednesday as expectations built that the Federal Reserve will need to cut interest rates later this year to prop up an economy potentially weakened by tariffs. In other dealings early Friday, U.S. benchmark crude oil lost 21 cents to $63.16 per barrel. Brent crude, the international standard, fell 18 cents to $65.16 per barrel.
Los Angeles Times
05-06-2025
- Business
- Los Angeles Times
US stocks slip as Wall Street makes its final moves ahead of Friday's jobs report
NEW YORK — U.S. stocks drifted lower on Thursday as financial markets locked in their final moves before a highly anticipated update coming Friday about the U.S. job market. The S&P 500 fell 0.5% for its first drop in four days. After sprinting through May and rallying within a couple good days' worth of gains of its all-time high, the index at the center of many 401(k) accounts has lost momentum. The Dow Jones Industrial Average dropped 108 points, or 0.3%, and the Nasdaq composite sank 0.8%. Trading activity in options markets suggests investors believe the next big move for the S&P 500 could come on Friday, when the U.S. Labor Department will say how many more jobs U.S. employers created than destroyed during May. The expectation on Wall Street is for a slowdown in hiring from April. A resilient job market has been one of the linchpins that's propped up the U.S. economy, and the worry is that all the uncertainty created by President Donald Trump's on-and-off tariffs could push businesses to freeze their hiring. A report on Thursday said more U.S. workers applied for unemployment benefits last week than economists expected. The number remains relatively low compared with history, but it still hit its highest level in eight months. The data came as Procter & Gamble, the giant behind such brands as Pampers diapers and Cascade dish detergent, said it will cut up to 7,000 jobs over the next two years. Its stock fell 1.9%. The day's heaviest weight on the market was Tesla, which tumbled 14.3%. It's lost nearly 30% of its value so far this year as CEO Elon Musk's relationship with Trump sours amid a disagreement over the president's signature bill of tax cuts and spending. Brown-Forman, the company behind Jack Daniel's and Woodford Reserve, dropped 17.9% for its worst day since it began trading in 1972. Its profit and revenue for the latest quarter fell short of Wall Street's expectations, and the company said it expects its upcoming fiscal year to be challenging because of 'consumer uncertainty, the potential impact from currently unknown tariffs' and other things. The CEO of PVH, which runs the Calvin Klein and Tommy Hilfiger brands, likewise cited challenges from 'an increasingly uncertain consumer and macroeconomic backdrop.' Its stock fell 18% even though it reported stronger revenue and profit for the latest quarter than analysts expected. The company cut its profit forecast for its full fiscal year, saying it will likely be able to offset only some of the potential hit it will take because of tariffs. Hopes that Trump will lower his tariffs after reaching trade deals with other countries have been among the main reasons the S&P 500 has rallied back so furiously since dropping roughly 20% from its record two months ago. It's now back within 3.3% of its all-time high. Trump boosted such hopes Thursday after saying he had 'a very good phone call' with China's leader, Xi Jinping, about trade and that 'their respective teams will be meeting shortly at a location to be determined.' It's an easing of tensions after the world's two largest economies had earlier accused each other of violating the agreement that had paused their stiff tariffs against each other, which threatened to drag the economy into a recession. To be sure, nothing is assured amid Trump's on-and-off rollout of tariffs, and markets took the latest detente with China relatively coolly. Among Wall Street's winners was MongoDB, which jumped 12.8% after the database company likewise delivered a stronger profit than analysts expected. Circle Internet Group, the U.S.-based issuer of one of the most popular cryptocurrencies, surged 168.5% in its first day of trading on the New York Stock Exchange. Five Below climbed 5.6% after the retailer, which sells products priced between $1 and $5, reported a stronger profit for the latest quarter than analysts expected. CEO Winnie Park credited broad-based strength across most of its merchandise All told, the S&P 500 fell 31.51 points to 5,939.30. The Dow Jones Industrial Average dropped 108.00 to 42,319.74, and the Nasdaq composite sank 162.04 to 19,298.45. In the bond market, Treasury yields held steadier. The yield on the 10-year Treasury rose to 4.40% from 4.37% late Wednesday after tumbling from 4.46% the day before. Yields dropped so sharply on Wednesday as expectations built that the Federal Reserve will need to cut interest rates later this year to prop up an economy potentially weakened by tariffs. In stock markets abroad, indexes in Europe were mixed amid modest moves after the European Central Bank cut its main interest rate again, as was widely expected. The moves were bigger in Asia, where South Korea's Kospi jumped 1.5% after the country's new president and leading liberal politician Lee Jae-myung began his term, vowing to restart talks with North Korea and beef up a partnership with the U.S. and Japan. Choe writes for the Associated Press.
