Gold prices rebound as stocks slip
Gold prices rebounded in choppy trading Friday as equities stumbled in the wake of weaker-than-expected economic data, but the precious metal remained on track for a weekly loss.
Gold for February delivery GCG5, +0.48% rose $2.70, or 0.2%, to $1,186.80 an ounce, with volume thin at the end of the holiday season. Still, the bounce was impressive, coming off an earlier low of $1,167.30.
Gold for February delivery GCG5, +0.48% rose $2.70, or 0.2%, to $1,186.80 an ounce, with volume thin at the end of the holiday season. Still, the bounce was impressive, coming off an earlier low of $1,167.30.
Oil rout continues in volatile start to 2015
Oil futures ended the first trading day of 2015 on the same note they finished 2014, sliding to another round of lows on a surging U.S. dollar and a global glut of crude.
On the New York Mercantile Exchange, crude futures for delivery in February CLG5, -0.86% fell 58 cents, or 1.1%, to close at $52.69 a barrel, the lowest finish since April 2009. February Brent crude LCOG5, -1.43% on London’s ICE Futures exchange remained 13 cents lower at $56.29 a barrel, a loss of 0.2%.
Nymex WTI crude lost 45.87% through 2014, and Brent crude lost 48.26%, the largest one-year net and percentage decline since 2008 for both benchmarks.
On the New York Mercantile Exchange, crude futures for delivery in February CLG5, -0.86% fell 58 cents, or 1.1%, to close at $52.69 a barrel, the lowest finish since April 2009. February Brent crude LCOG5, -1.43% on London’s ICE Futures exchange remained 13 cents lower at $56.29 a barrel, a loss of 0.2%.
Nymex WTI crude lost 45.87% through 2014, and Brent crude lost 48.26%, the largest one-year net and percentage decline since 2008 for both benchmarks.
U.S. stock-index futures tip strong open for Wall Street
U.S. stock-index futures sat solidly higher late Thursday, suggesting a strong open for Wall Street after a pullback in the previous session.
About 11 hours ahead of the start of Friday trade, futures for the S&P 500 SPX, -1.03% Dow Jones Industrial Average DJIA, -0.89% and Nasdaq 100 all traded at levels implying 0.5% opening gains for each. In previous trading Wednesday, ahead of the New Year's Day break, the S&P 500 fell 1%, while the Nasdaq Composite COMP, -0.87% and Dow industrials each closed with a 0.9% loss.
About 11 hours ahead of the start of Friday trade, futures for the S&P 500 SPX, -1.03% Dow Jones Industrial Average DJIA, -0.89% and Nasdaq 100 all traded at levels implying 0.5% opening gains for each. In previous trading Wednesday, ahead of the New Year's Day break, the S&P 500 fell 1%, while the Nasdaq Composite COMP, -0.87% and Dow industrials each closed with a 0.9% loss.
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