Gold And Crude Oil Prices Experience Downturn Amid Strengthening Dollar

On Tuesday, US stocks showed mixed results, with the technology sector experiencing a rebound and the Dow Jones pausing its upward trend. The S&P 500 saw modest gains. Based on a report by Marc Pussard, Head of Risk at APM Capital The Dow Jones increased by 0.7% to 39,112.16, reaching a one-month high as investors added value stocks to their portfolios.

Nasdaq futures rose by 0.3%, recovering from a more than 1% drop overnight due to Nvidia's 7% decline. The S&P 500 gained 21.43 points or 0.39%, reaching 5,469.30.

European and Asian Markets

European stocks faced a downturn on Tuesday, influenced by the negative sentiment from US markets at the start of the week. The FTSE 100 index closed at 8,250.43, down by 31.12 points or 0.38%. The DAX closed at 18,167.50, declining by 158.08 points or 0.86%. The CAC 40 index ended at 7,656.57, losing 50.32 points or down by 0.65%.

Most Asian markets edged higher on Tuesday after recent losses as investors disregarded another challenging day for tech giants on Wall Street. Japan's Nikkei gained 0.9% to reach 39,173.15.

Commodities and Forex

Gold prices fell after reaching a weekly high of $2,334 as the Greenback staged a recovery supported by a minimal increase in US Treasury bond yields; XAU/USD traded at $2,319, down by 0.59%. Gold future prices slipped by 0.2% to $2,327.20 per ounce.

Crude oil prices dropped by around 1% on Tuesday due to concerns about the economic outlook and fuel demand following weak US consumer confidence data and a slow start to the US summer driving season.

The US dollar rose on Tuesday due to hawkish comments from Federal Reserve officials and data showing a stable housing market in the world's largest economy.

Today's events include New Home Sales (May) in the US at GMT+4:18:00 and Crude Oil Inventories at GMT+4:18:30.