Business News Asia
- The Dow closed higher on Friday (July 1) as investors bought stocks ahead of the long weekend. U.S. markets will be closed on Monday, July 4, in observance of the U.S. National Day holiday.
The Dow Jones Industrial Average closed at 31,097.26, up 321.83, or +1.05%.
The S&P500 closed at 3,825.33 points, up 39.95 points, or +1.06%.
The Nasdaq closed at 11,127.85 points, up 99.11 points, or +0.90%.
- Crude oil futures closed higher on Friday (July 1) as concerns about tight supply in global markets continued to be a factor supporting prices
WTI crude futures were up $2.67, or 2.5%, at $108.43 a barrel and rose 0.8% this week.
BRENT crude futures were up $2.6, or 2.4%, at $111.63 a barrel and were up 2.3% for the week.
- Gold futures closed lower Friday (July 1) as dollar strength weighed on the market. The strength of the dollar makes gold contracts more expensive for investors holding other currencies.
The gold contract fell $5.8, or 0.32%, to $1,801.5 an ounce, losing 1.6% for the week. This is the lowest close since February 2022 and down 1.6% for the week.
Silver contracts fell 68.5 cents, or 3.37%, to $19.667 an ounce.
The platinum contract fell $24, or 2.68%, to $871.3 an ounce.
The palladium contract rose $22.00, or 1.2%, to $1,938.10 an ounce.
- The U.S. dollar strengthened against the major currencies in the currency basket as investors bought the dollar as a safe haven currency. Amid concerns about the global recession, the British pound weakened against the dollar after the release of weak UK manufacturing figures
The dollar index against the six major currencies in a basket of currencies rose 0.43% to 105.1400.
The US dollar weakened against the yen at 135.25 yen from 135.55 yen.
The dollar strengthened against the Swiss franc at 0.9599 francs from 0.9535 francs.
The dollar was higher against the Canadian dollar at 1.2888 CAD from 1.2871 CAD.
The euro was lower against the dollar at $1.0428 from $1.0483.
The pound weakened to $1.2096 from $1.2182.
The Australian dollar fell to $0.6819 from $0.6907.