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US stocks fell Thursday, led by NASDAQ, as investors assessed mixed earnings and rising interest rates. All major indexes are set for weekly losses.
The yen slumped back past 150 per dollar again, raising the risk of forex intervention and piling pressure on the BOJ to adjust monetary policy.
Oil prices stabilize after three consecutive falls, with discouraging European economic data casting uncertainty on fuel demand.
Gold prices rose as US Treasury yields retreated from above 5%, driven by the Israel-Hamas conflict, with gold surging in the past two weeks.
The yen weakened past 150 against the dollar due to the Japan-US yield gap, driving carry trades and global efforts to manage Middle East tensions.
Gold reached a 3-month high amid Middle East tension, while the Fed Chair voiced concerns over high inflation. Gains continue for a 2nd week.
Oil prices dropped on Thu after a 2% gain. Iran seeks oil embargo on Israel, and US crude stocks fell exceeding forecasts.
Middle East tension and Gaza hospital blast, with hundreds killed, raised concerns of oil supply disruption, causing oil price surge on Wednesday.
Oil stabilized, with hopes rising for a US-Venezuela deal to ease sanctions on crude exports in exchange for monitored elections next year.
Oil prices retreated after leaping nearly 6% on Friday when Brent posted its highest weekly gain since February, as tension boiled in Gaza.
US consumer prices increased in September, but a steady moderation in underlying inflation pressures bolstered the case for the end of rate hikes.
Oil prices extended its loss on Thursday after a drop of over 2% as Saudi Arabia pledged to help stabilise the market.
US stocks rose for a third day as expectations of the Fed ending rate hikes outweighed the Israel-Palestine conflict escalation.
Treasury yields plunged, the biggest drop since March, as Fed's dovish remarks and Middle East tensions drove a flight to safety.
