© Reuters.
Investing.com – In a bizarre scenario, gold, the dollar and oil appear to have agreed to pull back, as US stocks rejoice as Wall Street indexes collectively rise.
US indices posted collective gains into today’s session following a volatile session on Tuesday, only the Dow Jones index escaping, which edged up slightly.
And as of yesterday’s close of trade, it was up 0.1%, or the equivalent of 37 points, as US indices began trading higher following the holidays.
While the broader Standard & Poor’s fell 0.4%, or 15 points, to 3829 points, and the Nasdaq was down 1.4%, or 144 points, with Tesla losing 11.4 %.
Wall Street now
- The Nasdaq fell 0.90%, while the Dow Jones index fell 0.50%, shedding 167 points, while it fell 0.70%, registering 3802.25 points.
gold now
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It declined by $10, or the equivalent of 0.5%, to levels of $1813.5.
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– Spot gold contracts fell in US dollar terms in the $9.5 range, or 0.53%, to $1804 an ounce levels.
dollar now
oil now
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Al-Khafif fell more than 2.2%, to levels near $77.77, losing $1.6.
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The benchmark fell in the $1.7 range, or 2.1%, to levels close to $83 a barrel.
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Bonds are better
Goldman Sachs (NYSE:) expects bond yields to rise next year to outpace equity earnings, amid investors’ preference for safe-haven assets amid the risks of a possible global economic downturn.
The report issued by the bank indicated that the bond market has not experienced significant growth since the 2008 global financial crisis, due to declining yields on this asset in the aftermath of the global financial crisis and for nearly 14 years, which made the equities appear to be the only haven for investors seeking high returns.
In addition, the report attributed the bond market recovery to higher interest payments than potential stock market dividends next year.
According to the bank, interest payments often exceed dividends due to their reliability. Stocks can generate huge profits depending on the financial condition of the company, but bonds issue fixed and stable payments to a large extent, which leads to attract more investors in the bond market.
