: Gold futures settle back above $1,800, up 3 sessions in a row
on December 8, 2022 at 6:45 pm
Gold futures posted a third straight climb on Thursday, with prices settling back above the key $1,800 an ounce level for the first time in four sessions. A softer U.S. dollar helped to support gold prices, ahead of a key round of inflation data, said Edward Moya, senior market analyst at OANDA. Data on Friday include a reading on the producer price index and University of Michigan inflation expectations. Next week, the Federal Reserve is expected to “downshift” to a half-point rate-hike, but traders will want to hear what is has to say about the trend of inflation and where rates could peak, said Moya. Gold for February delivery GCG23 rose $3.50, or 0.2%, to settle at $1,801.50 an ounce on Comex. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Coronavirus Update: Foxconn, which makes iPhones, reportedly urged Chinese government to loosen COVID restrictions
on December 8, 2022 at 4:29 pm
Getty ImagesRead through a roundup of the COVID news you should know about:Foxconn urged looser COVID restrictions in China. The founder of Foxconn Technology Group FXCOF reportedly wrote a letter attempting to persuade the Chinese government to relax its zero-COVID policy, saying China’s position in the global supply chain was under threat, people familiar with the matter told The Wall Street Journal. The Chinese company is the world’s largest assembler of iPhones. Apple AAPL said last month that shipments of the iPhone 14 Pro and iPhone 14 Pro Max could be delayed because of COVID restrictions in China.The CDC needs more money — and authority. That’s what CDC director Rochelle Walensky told CQ Roll Call this week, saying that the public-health agency needs better data about COVID surveillance and testing. “[Lawmakers] have no idea we didn’t have the authorit[y]” to collect such data, she said.Most young children in the U.S. can now get a bivalent COVID booster. The Food and Drug Administration on Thursday announced changes to the emergency authorizations for the COVID vaccines made by Moderna MRNA and by BioNTech BNTX and Pfizer PFE. Children between the ages of 6 months and 6 years who received Moderna’s two-dose vaccine can get Moderna’s updated booster shot, and children ages 6 months through 4 years can get the BioNTech/Pfizer bivalent booster as the third dose in the primary series of those companies’ shots. (Children in this age group who have received all three shots of the original BioNTech/Pfizer vaccine are not yet eligible for a booster.)Guess your virus. There are higher-than–normal levels of respiratory syncytial virus (RSV) and influenza circulating in the U.S. right now, at the same time that COVID infections are increasing. “Figuring out what’s making people sick is going to be a conundrum,” Sandra Fryhofer, an internal medicine physician, said this week.Your Door Dasher can drop off your Paxlovid prescription — for free. Walgreens Boots Alliance WBA said Thursday that it’s partnering with DoorDash Inc. DASH and Uber Technologies Inc. UBER to provide free same-day delivery of Pfizer’s COVID antiviral Paxlovid.COVID hospitalizations and deaths are increasing in the U.S. The number of new cases in the U.S. is up 38% over the past two weeks, with the daily average of new infections now at about 60,000, according to a New York Times tracker. Hospitalizations are also ticking up, with 30% more people in the hospital with COVID than 14 days ago. The number of COVID deaths is increasing as well, with 343 people dying on Wednesday, a number 4% higher than two weeks ago.Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic beganMarket Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
: EIA reports a weekly decline of 21 billion cubic feet in U.S. natural-gas supplies
on December 8, 2022 at 3:35 pm
The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies fell by 21 billion cubic feet for the week ended Dec. 2. That compared with an average analyst forecast for a decline of 26 billion cubic feet, according to a survey conducted by S&P Global Commodity Insights. Total working gas stocks in storage stand at 3.462 trillion cubic feet, down 51 billion cubic feet from a year ago and 58 billion cubic feet below the five-year average, the government said. Following the data, January natural gas NGF23 was up 13.7 cents, or 2.5%, at $5.086 per million British thermal units on the New York Mercantile Exchange. Prices traded at $5.906 before the supply data.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
FDA to allow bivalent COVID boosters for some infants and young children
on December 8, 2022 at 3:02 pm
The Food and Drug Administration on Thursday authorized the bivalent COVID-19 boosters made by Moderna Inc. and BioNTech SE /Pfizer Inc. for children as young as 6 months old. The regulator said children between the ages of 6 months and 6 years old who first received Moderna's two-dose vaccine can now get Moderna's updated booster shot. The authorization for BioNTech and Pfizer's vaccine is slightly different. Children who are 6 months through 4 years can now get the companies' bivalent booster as the third dose in the primary series of BioNTech and Pfizer's shots; however, kids in this age group who were immunized with all three shots of the original BioNTech/Pfizer vaccine are not yet eligible for a booster. The updated boosters are designed to better protect against omicron and its subvariants.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
U.S. stocks open higher after five straight day of losses for S&P 500
on December 8, 2022 at 2:35 pm
U.S. stock indexes opened modestly higher on Thursday after the S&P 500 booked its five consecutive declines as fears of a recession gripped Wall Street. The Dow Jones Industrial Average rose 100 points, or 0.3%, at 33,701. The S&P 500 gained 0.2%, while the Nasdaq Composite advanced 0.3%. The number of Americans who applied for unemployment benefits in early December rose slightly to 230,000, which was exactly in line with the Dow Jones estimate. The weekly number pointed to a slow but steady increase in layoffs as the U.S. economy weakens. The yield on the 10-year Treasury rose 6.1 basis points to 3.486% from 3.407% on Wednesday. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.