After a positive start, the US equities markets ended Wednesday trading mixed, with only the NASDAQ managing a small gain. Talk of increased interest rates and a disappointing weekly US Energy Department report, which revealed a lower-than-expected increase to gasoline inventories, caused some disquiet. However, Materials sector stocks received a fillip from comments by the Bank of China governor that it was still too soon to raise Chinese interest rates.
Crude oil prices went higher in late New York trading after the latest weekly report compiled by the US Energy Department indicated that gasoline inventories increased by a lower-than-expected amount.
Most metal prices went materially higher in Wednesday New York trading, with commodity market players rejoicing at the comments by China's central bank governor Zhou Xiaochuan that it was still too soon to raise interest rates. Copper prices booked their largest interday gain in a month. Gold prices reported their biggest interday uplift in 10 weeks, as the US$ fell against the yen and euro (with the yen’s appreciation largely driven by the boost provided to Japan’s export sector by the news that China was not yet contemplating higher interest rates).
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After a positive start, the US equities markets ended Wednesday...
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