US stock futures saw an uptick and gold prices moderately increased in early Asian trade on Thursday, following the Federal Reserve's decision to maintain interest rates. The tech sector demonstrated resilience amid mixed earnings from mega-cap companies, with market participants keenly awaiting Apple (NASDAQ:AAPL)'s forthcoming earnings report.
Despite consecutive gains in the stock market, an overall downtrend continues to persist. This trend is influenced by robust economic conditions and stringent monetary policies that may potentially trigger price corrections. Investors are closely monitoring labor market data and the potential for a rate increase at the Federal Reserve's December meeting. These factors are expected to significantly impact monetary policy expectations and market volatility.
In the commodities market, gold prices experienced a slight increase despite a lower overnight settlement. This rise was contrary to analysts' predictions of a buying rush following the price decrease.
The non-interest-bearing metal's performance was influenced by a decline in the dollar, lower Treasury yields, and the Federal Reserve's less aggressive stance on rate hikes. Despite these influences, gold continues to hover below the critical $2,000/oz threshold. Spot gold recorded a minor 0.1% increase, trading at $1,984.95/oz.
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