Stock Markets, Oil, Gold, and Foreign Exchange – Here’s How the Markets Developed Last Week

— The DOW closed higher on Friday and ended the week with an overall gain of 0.31%. However, for the year, the DOW fell by 4.06%. The S&P 500 also closed slightly higher on Friday. For the week, this results in a plus of 1.79%, but for the year a minus of 4.68%.
In addition, U.S. Treasury bond yields also rose to their highest level in almost three years.

  • The Dow Jones Industrial Average closed at 34,861.24, up 153.30 or +0.44%.
  • The S&P500 index closed at 4,543.06 points, up 22.90 points, or +0.51%.
  • The Nasdaq index closed at 14,169.30, down 22.54, or -0.16%.

— Crude oil futures closed higher as investors feared further oil tightening after reports that a Saudi oil facility was attacked.

  • WTI crude futures were up $1.56, or 1.4%, at $113.90 a barrel and were up 10.5% for the week.
  • BRENT crude futures were up $1.62, or 1.4%, at $120.65 a barrel and were up 11.8% for the week.

— The gold price is falling under the pressure of rising U.S. Treasury yields. This increases the opportunity cost of owning gold, as gold is an asset that does not earn interest.

  • The gold contract was down $8, or 0.41%, at $1,954.2 an ounce. But still up 1.3% this week.
  • Silver was down 30.5 cents, or 1.18%, at $25.615 an ounce.
  • The platinum contract was down $22.7, or 2.2%, at $1,008.5 an ounce.
  • Palladium was down $136.30, or 5.39%, at $2,394.30 an ounce.

— The U.S. dollar weakened against a basket of major currencies after economic data released pointed to a decline in U.S. consumer sentiment.

  • The dollar index, which measures the dollar’s movement against six major currencies in a basket of currencies, was down 0.0030% at 98.7860.
  • The US dollar weakened against the yen to 122.10 from 122.25 yen.
  • The dollar was lower against the Canadian dollar to 1.2474 Canadian dollars from 1.2548 Canadian dollars.
  • The dollar strengthened against the Swiss franc at 0.9308 francs from 0.9303 francs.
  • The euro was lower against the dollar at $1.0989 from $1.1004.
  • The pound rose to $1.3187 from $1.3182.
  • The Australian dollar rose to $0.7522 from $0.7513.

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