From Yahoo Finance: 2024-04-01 17:22:27

Gold prices reached all-time highs on Monday, while U.S. stocks closed mixed as hopes for a rate cut by the Federal Reserve waned due to a strong U.S. economy. Chinese shares led a rally in Asia, and the dollar rose after U.S. manufacturing data showed growth in March. Inflation concerns and Fed rate cut expectations remain uncertain. Oil prices remained elevated due to OPEC+ cuts and Chinese demand optimism. The dollar index rose 0.47%, while MSCI’s global stocks gauge fell 0.36%. The Dow Jones fell 0.6%, S&P 500 lost 0.20%, and Nasdaq Composite gained 0.11%. Fed Chair Powell suggested a cautious approach to inflation, delaying potential rate cuts. Gold prices hit a record high but retreated as the dollar strengthened. U.S. Treasury yields rose on doubts over Fed rate cut expectations. Japan’s Nikkei tumbled as the yen lingered below 152 per dollar, impacting exporter profits. Brent settled at $87.42 a barrel, and U.S. crude settled at $83.71 a barrel.



Read more at Yahoo Finance: Gold rallies, stocks ease as rate cut optimism fades