Oil Climbs a Third Session, Gold Nears $4,400 and Silver Clears $64 as Markets Brace for CPI
Oil climbed for a third straight session after Iran ruled out direct talks with Washington, pushing gold toward $4,400 and silver past $64. Meanwhile the S&P 500 closed at a record 7,757 and Nasdaq futures led again overnight. Capital is hedging Wednesday's inflation print two contradictory ways at once — here's what that rotation is telling you.
Stocks Hit Record Highs as Economy Loses 23,000 Jobs — Gold Rips to a 7-Week High
The economy unexpectedly shed 23,000 jobs in July — and Wall Street rallied to record highs anyway. With September rate hike odds falling from 57% to 44%, capital rotated into growth, chips, and hard assets while gold hit a 7-week high near $4,340. Here's the full breakdown of what drove Friday's session, why gold and the Nasdaq rallied together, and why Wednesday's CPI print is the whole ballgame.