Business

May 8, 2024 5:38 PM May 8, 2024 5:38 PM

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Oil Prices Decline on US Inventory Data and Dollar Strength

Oil prices declined today as industry data showed a rise in crude and fuel inventories in the US and as the US dollar strengthened, signalling that demand for oil is coming under pressure.   The Brent Crude Oil futures was down by 0.85 per cent to trade at 82 dollar and 45 cents, whereas West T...

May 11, 2024 11:42 AM May 11, 2024 11:42 AM

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S&P 500 and Dow Jones Inch Higher on Rate Cut Expectations

The S&P 500 and Dow Jones Industrial Average ended slightly higher yesterday, extending recent winning streaks fueled by renewed expectations that the Federal Reserve will cut interest rates this year.   The S&P 500 gained 0.13 per cent, while the Nasdaq Composite 0.10 percent. The Dow ...

May 11, 2024 11:44 AM May 11, 2024 11:44 AM

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Rupee Ends at 83.52 Against US Dollar; Dollar Index Rises to 105.50

In the forex market, the rupee closed at 83 rupees and 52 paise against the US dollar today. The dollar index, which indicates the US dollar's strength against a basket of six other leading currencies was up at 105.50 in intra-day trade.

May 7, 2024 6:47 PM May 7, 2024 6:47 PM

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Gold and Silver Futures Decline in Indian and Global Markets

Gold prices slipped today in the futures market. The precious metal for the June contracts was lower by 274 rupees or 0.38 percent, trading at 71,095 rupees per ten grams. Silver futures for July contracts were down by 260 rupees or 0.31 percent, trading at 82,695 rupees per kilogram, when the repor...

May 7, 2024 6:46 PM May 7, 2024 6:46 PM

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Oil Prices Stable Amid West Asia Conflict; Brent Crude at $83.04, WTI at $78.20

Oil prices remained stable today despite concerns over escalating conflict in the West Asia, particularly as Israel intensified its attacks in southern Gaza.   The Brent Crude Oil futures was down by 0.35 percent to trade at 83 dollar and four cents, whereas Western Texas Intermediate was lower by 0...

May 7, 2024 6:45 PM May 7, 2024 6:45 PM

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US Stock Indices Rise for Third Day on Rate Cut Expectations

All three benchmark US indices closed higher yesterday in the third straight session as investors continued to gain hope that there was a greater chance of the Federal Reserve cutting interest rates this year.   The Dow Jones Industrial Average rose 0.46 percent, the S&P 500 gained 1.03 per...

May 7, 2024 6:45 PM May 7, 2024 6:45 PM

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Rupee Ends at 83.51 Against US Dollar; Dollar Index Up to 105.25

In the forex market, the rupee closed at 83 rupees and 51 paise against the US dollar today.   The dollar index, which indicates the US dollar's strength against a basket of six other leading currencies was up at 105.25 in intra-day trade.