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Gold
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Real-time News
US Treasury Secretary Bessant: The Federal Reserve has a long way to go before returning to quantitative easing.On March 13, Adobe (ADBE.O) announced that its CEO, Shantanu Narayen, will step down as head of the creative software giant. This move comes amid deep market skepticism about the companys ability to thrive in the age of artificial intelligence. The company also provided its sales forecast for the current quarter, which, while slightly above expectations, failed to alleviate investor concerns that the software maker is being overtaken by new competitors. The company said on Thursday that revenue for the quarter ending in May would be between $6.43 billion and $6.48 billion. Analysts average expectation was $6.43 billion. Excluding certain items, earnings per share would be between $5.80 and $5.85, while analysts average expectation was $5.70. Adobe (ADBE.O) shares fell about 6% in after-hours trading.Market news: Meta Platforms (META.O)s large submarine fiber optic cable project in the Persian Gulf has been stalled due to the conflict with Iran.Foreign central banks held $39.755 billion in U.S. Treasury securities in the week ending March 13, compared with a previous weeks figure of $9.333 billion.March 13th - According to the Financial Times, the head of the CME Group warned that if the Trump administration attempts to suppress oil prices by intervening in the derivatives market during its conflict with Iran, it will face "catastrophic consequences." CME CEO Terry Duffy stated that if the US government attempts to curb rising crude oil prices by intervening in the futures market, it will undermine market confidence. The exchange manages the US oil futures trading market. Duffy said, "The market doesnt like government intervention in pricing." He stated that if the government takes such action, it could trigger an "epic disaster" because investors might lose confidence in the markets ability to set prices for key commodities. Previously, it was reported that the US Treasury Department was considering measures to lower oil prices, including intervention in the futures market.
