Silver Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) today is down -1.01%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.52%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.17%.
Stocks this morning are moderately lower, with the S&P 500 falling to a 1-month low and the Dow Jones Industrials and the Nasdaq 100 falling to 3-1/2 week lows. Stocks today extended Wednesday’s losses as the hawkish tone from Wednesday’s FOMC meeting is undercutting global risk sentiment. The Fed on Wednesday signaled one more +25 bp rate hike this year and saw less easing next year, with the median forecast for the federal funds rate at 5.1% by the end of 2024, up from 4.6% when projections were made in June.
Stock index futures added to their losses this morning after weekly U.S. jobless claims unexpectedly fell to a 7-1/2 month low, showing a stronger labor market that was hawkish for Fed policy.
Technology stocks are also under pressure this morning after the 10... Read more
- Cornell to Lead Carbon-Cutting Effort in Aluminum Recycling
Making new aluminum initially takes a carbon footprint of more than four tons of carbon dioxide even in regions that use hydropower.
- Stocks Lower on Rising Yields
The 10-year yield hits new 52-week highs as markets are bracing for another rate hike coming into year-end.
- LIBERTY Steel Collaborates on Decarbonization of Dunaffer Steel Works
An MoU to this effect was signed in Budapest, in the presence of top officials from all the three entities.
- 20th September, 2023-North American Scrap Metal Prices Dropped on Index
Cu Yokes prices reported no change over the previous day.
- WGC Members Pledge to Boost Gold Supply Chain Transparency
The members will now be part of the Gold Bar Integrity (GBI) platform, which will further ensure supply of data on gold produced to their refining partners,...