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Oil bounces, snapping 3-day losing streak

Oil futures end higher, snapping a three-day losing streak tied in part to worries over the spread of the delta variant of the coronavirus that causes COVID-19. 24 min ago

Gold futures end lower Thursday as yields pop higher, U.S. stocks rally

Gold futures closed slightly lower Thursday, quashing bullion's attempt to deliver its first back-to-back gain since mid July, as Treasury yields climbed but still hung near lows not seen since mid to early February. The 10-year Treasury note was yielding around 1.20% Thursday afternoon after hitting its lowest intraday level since Feb. 10 at 1.1255%, a day earlier. December gold settled $5.60, or 0.3%, lower at $1,808.90 an ounce, after closing up less than 0.1% on Wednesday. The decline for gold also comes as the Dow Jones Industrial Average , the S&P 500 index and the Nasdaq Composite Index were rallying, trading at or near record highs and underscoring a weaker appetite on the session for assets perceived as havens like gold and bonds. The rise in Treasury yields can also undercut the appeal of gold compared against precious metals that don't offer a coupon. 1:42 p.m. Today

Oil extends losing streak to 3rd day as U.S. crude inventories rise

Oil futures extend a losing streak to three days, remaining under pressure after official data shows an unexpected rise in U.S. crude inventories. 3:27 p.m. Aug. 4, 2021

Commodities Headlines

Gold futures post slight gain after weaker-than-expected ADP jobs report

Gold futures inched up to settle slightly higher Wednesday, after data showed a weaker-than-expected increase in the number of U.S. private-sector payrolls last month. Trading for bullion also comes as the 10-year Treasury note touched a fresh low around 1.12%. December gold rose 40 cents, or less than 0.1%, to end at $1,814.50 an ounce. Early in the session, commodity investors parsed data from payrolls-processing company ADP, which said private U.S. private sector payrolls rose by 330,000 in July. Economists surveyed by The Wall Street Journal had penciled in an increase of 653,000.

1:41 p.m. Aug. 4, 2021
Oil ends lower, extends drop as COVID spread stokes demand worries

Oil futures give up early gains to finish lower, extending a selloff from the previous session blamed on worries about the spread of the delta variant of the coronavirus that causes COVID-19.

3:16 p.m. Aug. 3, 2021
Gold closes lower Tuesday as investors seen taking profit

Gold futures finished lower Tuesday as equity markets tilted higher and U.S. Treasury yields and the dollar edged up. The decline in bullion prices was also attributed to some consolidation of profits by investors after a run above $1,800 for the precious metal. December gold closed $8.10, or 0.4%, lower at $1,814.10 an ounce. The decline for gold came as stocks took a leg higher on Tuesday, with the Dow Jones Industrial Average and the S&P 500 index gaining altitude, while the yield for the 10-year Treasury note was up slightly at around 1.18% and the U.S. dollar was inching higher, up around 0.05%, measured by the ICE U.S. Dollar Index .

1:39 p.m. Aug. 3, 2021
Arconic stock slips after swinging to loss, while revenue came up short of expectations

Shares of Arconic Corp. slipped 0.2% in premarket trading Tuesday, after the aluminum company swung to a loss, which included a one-time pension charge, and revenue that came up a bit shy of forecasts. The net loss was $427 million, or $3.89 a share, after net income of $52 million, or 48 cents a share, in the year-ago period. The results included a pension settlement charge of $423 million related to the partial annuitization of U.S. pension obligations. Sales increased 51.7% to $1.80 billion, but was below the FactSet consensus of $1.87 billion, as rolled products revenue grew 67.5% to $1.47 billion. Arconic raised its 2021 revenue guidance range to $7.3 billion to $7.6 billion from $7.1 billion to $7.4 billion. The company said after buying back nearly $9 million worth of stock in the second quarter, it repurchased more than doubled that amount during July. The stock has run up 18.9% year to date through Monday, while the S&P 500 has gained 16.8%.

7:38 a.m. Aug. 3, 2021
ConocoPhillips shares jump about 2% premarket after profit tops estimates

ConocoPhillips shares rose about 2% in premarket trade Tuesday, after the oil major posted better-than-expected profit for the second quarter. The company posted net income of $2.1 billion, or $1.55 a share, for the quarter, up from $300 million, or 24 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.27, well ahead of the $1.10 FactSet consensus, boosted by higher realized prices and volumes. It did not offer a revenue number. Production excluding Libya came to 1,547 thousand barrels of oil equivalent a day, or MBOED, up 566 MBOED from the year-earlier period. The company recently offered a market update offering a 10-year plan that is based on an oil price of $50 a barrel and offered an outlook for the business following its acquisition of Concho. Shares have gained 38.5% in the year to date, while the S&P 500 has gained 16.8%.

7:17 a.m. Aug. 3, 2021
Oil ends more than 3% lower after weaker China, U.S. economic readings

Oil futures start August on a down note Monday, under heavy pressure after disappointing data on activity in China and the U.S., worries about the spread of the Delta variant of the coronavirus that causes COVID-19 and rising output by OPEC+ producers.

3:17 p.m. Aug. 2, 2021
Gold ends higher as dollar retreats, benchmark Treasury yields deepen slump to February nadir

Gold futures settled higher Monday, starting August on an upbeat note for the precious metal as a retrenchment in the U.S. dollar and a further pullback in 10-year Treasury yields helped to pave the way for buying in bullion. December gold gained $5, or 0.3%, to end at $1,822.20 an ounce. The 10-year Treasury yield fell below 1.15%, extending the fall to the lowest levels since February, briefly on Monday and the U.S. dollar was off 0.1%, as gauged by the ICE U.S. Dollar Index. Concerns about the spread of the delta variant of COVID-19 also was attributed to the move to assets perceived as havens.

1:42 p.m. Aug. 2, 2021
Where gold stands a year after hitting a record-high price

Nearly a year since gold marked its highest price on record, the precious metal has little to show for it. Here's what's led to the metal's price retreat in 2021 and what it'll take to bring prices up to fresh all-time highs.

12:31 p.m. July 31, 2021

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