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Entries in Gold Prices (2)

Tuesday
Aug232011

Wall Street Report: Global Markets Gaining, US Stock Futures Up

Comstock Images/Thinkstock(NEW YORK) -- Following a rocky showing last week, global markets are making some headway Tuesday after reports on Chinese and German manufacturing activity proved better than expected, calming fears of a sharp slowdown in global economic growth.

Japan's Nikkei index rose 1.22 percent, Hong Kong’s Hang Seng climbed 1.99 percent, China’s Shanghai Composite went up 1.52 percent, and Australia’s S&P/ASX 200 added 2.23 percent.

South Korea’s Kospi had the biggest showing in Asian trading, shooting up 3.86 percent, followed by Taiwan’s Taiex increase of 3.25 percent.

European markets are also trading higher ahead of Tuesday's closing.

Over in the U.S., stock futures are up Tuesday after slight gains on Wall Street the day before.  The Dow Jones Industrial Average gained 37 points on Monday, while the Nasdaq added four points and the S&P 500 fell even.

Meanwhile, oil prices rose to nearly $86 a barrel Tuesday as Libyan rebels and government forces continue to fight for control, hampering oil production, in turn.

Gold prices, on the other hand, are down over $5 an ounce after a record-setting run-up.  The price of gold had previously shot up to almost $1,900 an ounce.

Copyright 2011 ABC News Radio

Wednesday
Aug102011

Wall Street Report: Dow Dips More than 300 Points at Open

Mario Tama/Getty Images(NEW YORK) -- U.S. stocks skidded in the opening of trading Wednesday, losing nearly all of Tuesday's rally. Gold surged to yet another new high.

The Dow Jones Industrial Average fell 425 points or 3.8 percent at 10:55 a.m. ET. The S&P 500 was down 43, or 3.7 percent, while the Nasdaq fell 86, or 3 percent, to 2,409. But Treasury issues are rising, and gold added $39 to $1,782 an ounce.

On Tuesday the Dow rose 430 points, or 4 percent, to 11,239 at the 4 p.m. close in a wild session of swinging prices.

Markets were still reacting to the Federal Reserve statement about the weakening economy and the news that it would be keeping a key Federal interest rate low because economic growth this year had been "considerably slower than the Committee had expected."

Copyright 2011 ABC News Radio







ABC News Radio