U.S. markets continue their upward trend, fueled by optimism surrounding AI, while investors seek refuge in gold amidst uncertainty. The Federal Reserve's upcoming meeting and geopolitical tensions remain key factors to watch.
A shopper examines gold bars on display for sale at a Costco in Bayonne, New Jersey. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors informed about everything they need to know, no matter their location. Like what you see? You can subscribe. The U.S.
dollar strengthened on Friday, reversing a decline earlier in the week, as investors reacted to the White House's announcement that it would allow Colombia to purchase two F-16 fighter jets from the U.S. This marks a reversal from Colombia's earlier decision to reject two aircraft, a move that prompted Donald Trump to threaten to pull American support. The Colombian government's decision to accept the aircraft comes amid ongoing tensions in the region and heightened concerns about regional security. Meanwhile, the U.S. Federal Reserve concludes its meeting on Wednesday, where investors will closely analyze Chair Jerome Powell's remarks for insights into the future trajectory of interest rates. The markets have been exhibiting signs of awakening from their period of inactivity. While some of the Magnificent Seven stocks faced challenges on Friday, both Alphabet and Meta Platforms reached all-time highs, fueled by optimism surrounding their artificial intelligence (AI) offerings. Even though all major U.S. benchmarks experienced a decline on Friday, they still recorded their second consecutive week of gains. The S&P 500 and the Nasdaq Composite closed at new highs on Thursday, establishing fresh intraday peaks during Friday's session. Remarkably, it only took eight sessions for the S&P 500 to rebound from a two-month low to a record high. This rapid turnaround suggests that investors are increasingly confident in the resurgence of the bull market. Lower interest rates generally stimulate economic activity, while reduced oil prices lower costs for businesses. 'So far, markets have reacted to every statement made by the President, even those that should not have any impact,' said Mark Malek, chief investment officer at Siebert. 'This shows that traders have not yet settled into their pace.' Indeed, a more realistic interpretation of market sentiment might be gleaned from gold prices. Spot gold prices surged on Friday to their highest levels in nearly three months, indicating that some investors are turning to this precious metal as a safe haven amid uncertainty. -- CNBC's Alex Harring, Yun Li and Sarah Min contributed to this report. Get the CNBC Daily Open report in your inbox every morning and stay updated on the markets wherever you are
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