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1. International precious metals futures generally closed higher. COMEX gold futures rose 0.03% to $4725.40 per ounce, down 3.16% for the week; COMEX silver futures rose 0.24% to $75.69 per ounce, down 7.52% for the week. The conclusion of the US Department of Justices investigation into Federal Reserve Chairman Powell boosted expectations of interest rate hikes, supporting gold prices. However, hawkish policy expectations, coupled with geopolitical and economic disturbances, led to profit-taking, resulting in only a slight increase in gold prices. 2. The main US crude oil contract closed down 1.01% at $94.88 per barrel, up 14.88% for the week; the main Brent crude oil contract rose 0.79% to $105.9 per barrel, up 17.17% for the week. 3. Most London base metals rose. LME nickel rose 2.07% to $19,125.0/ton, a weekly increase of 5.56%; LME lead rose 0.31% to $1,960.5/ton, a weekly decrease of 0.08%; LME zinc rose 0.28% to $3,462.5/ton, a weekly increase of 0.48%; LME tin rose 0.26% to $50,345.0/ton, a weekly decrease of 0.69%; LME copper fell 0.50% to $13,289.0/ton, a weekly decrease of 0.43%; and LME aluminum fell 0.80% to $3,591.0/ton, a weekly increase of 0.74%. 4. The three major U.S. stock indexes closed mixed. The Dow Jones Industrial Average fell 0.16% to 49,230.71 points, the S&P 500 rose 0.8% to 7,165.08 points, and the Nasdaq Composite rose 1.63% to 24,836.6 points. The S&P 500 and Nasdaq Composite both hit new highs. Merck fell more than 2%, and Verizon fell more than 1%, leading the Dows decline. The Wind U.S. Technology Big Seven Index rose 2%, Nvidia rose more than 4%, and Amazon rose more than 3%. The Nasdaq China Golden Dragon Index rose 1.59%, Hesai Technology rose more than 6%, and Baidu Group rose nearly 6%. This week, the Dow Jones Industrial Average fell 0.44%, the S&P 500 rose 0.55%, and the Nasdaq Composite rose 1.5%. 5. European stock markets closed lower across the board. Germanys DAX index fell 0.11% to 24,128.98 points, Frances CAC40 index fell 0.84% to 8,157.82 points, and the UKs FTSE 100 index fell 0.75% to 10,379.08 points. The uncertain future of the US-Iran ceasefire agreement and the continued US blockade of the Strait of Hormuz weighed on European market sentiment. This week, Germanys DAX index fell 2.32%, Frances CAC40 index fell 3.17%, and the UKs FTSE 100 index fell 2.7%.Investinglive analyst Eamonn Sheridan: As of the episodes aired so far, Trump has not mentioned Iran in his CBS interview.On April 27th, Futures News reported that, according to foreign media, soybean oil futures on the Chicago Board of Trade (CBOT) rose for the second consecutive week in the week ending April 24, 2026, with the benchmark contract closing 5.04% higher, reaching its highest level since December 2, 2022. This mainly reflected a strong rebound in international crude oil futures, improved prospects for biofuel demand, and strong US soybean oil export sales. The nearly two-month-long war has driven up fossil fuel prices, prompting countries to accelerate biofuel blending efforts. Malaysia and Indonesia both plan to increase the blending rate of palm oil-based biodiesel, and Brazil also plans to accelerate the increase of its biodiesel blending ratio from 15% to 20%. The US Environmental Protection Agency also announced an increase in its mandatory biofuel blending targets for the next two years. These policy measures will increase domestic consumption of vegetable oils, crowding out export supplies and providing positive support for soybean oil.On April 27th, according to foreign media reports, as of the week ending April 24th, 2026, Chicago Board of Trade (CBOT) corn futures rose, with the benchmark contract closing 1.3% higher. This mainly reflected a rebound in international crude oil futures, strong US corn export sales, and potential slowdown in spring planting due to rainfall in the Midwest. However, slowdown in domestic ethanol production and a clear outlook for a bumper corn harvest in South America limited the rise in corn prices. The International Grains Council (IGC) this week lowered its 2026/27 global corn production forecast by 2.9 million tons to 1.2999 billion tons, a year-on-year decrease of 1.8%. The ending stocks forecast was lowered by 2.4 million tons to 291.5 million tons, a year-on-year decrease of 4.9%.Goldman Sachs expects Middle East crude oil production to decrease by 14.5 million barrels per day, driving global oil inventories down at a record pace, with a drop of 11 to 12 million barrels per day in April.

S&P 500, NASDAQ Futures Higher in Pre-Market after Meta Stuns Wall Street

Alice Wang

Feb 02, 2023 16:08

The main U.S. stock index futures contracts are trading in a range during Thursday's pre-market session, with the Dow trading down for the day while the NASDAQ Composite was up about 1%.


Investors are attempting to build on the rise from yesterday, which was sparked by a mix of a widely anticipated 25-basis-point rate increase and less hawkish comments from Federal Reserve Chairman Jerome Powell. A sharp increase in Meta shares after a positive earnings announcement is contributing to the euphoric mood.


The blue chip Dow futures are now trading at 34085.00, down 63.00 or -0.18%, at 04:33 GMT. The tech-weighted NASDAQ Composite is trading at 12526.75, up 112.50 or +0.91%, while the benchmark S&P 500 Index futures contract is at 4143.50, up 11.25 or +0.27%.

Less-Hawkish, Supported by Wednesday's Positive Session comments made by Fed Chair Powell

The strong performance in all three main indices yesterday is what is providing the support early on Thursday. The NASDAQ Composite ended the regular session up 2%, while the S&P 500 recovered previous losses to conclude with a gain of 1.05%. After losing more than 500 points earlier in the day, the Dow was only able to gain a meager 0.02%.


Investor confidence that inflation is slowing down enough for the central bank to take notice fueled the sharp bounce, despite the fact that Federal Reserve Chairman Jerome Powell made no mention of a potential stop in rate rises at his post-meeting news conference.