US stocks hover at record highs in quiet trading; gold and silver prices jump
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
NEW YORK (AP) — Stocks moved slightly lower in midday Friday trading as investors returned from the Christmas holiday. Trading is expected to be light.
The S&P 500 index was down 0.1% as of 12:15 p.m. ET, the Dow Jones Industrial Average was down 0.2%, and the Nasdaq composite was down less than 0.1%.
Institutional investors are largely closed out of their positions for the year. The S&P 500 has climbed nearly 18% this year, helped by the deregulatory policies of the Trump administration as well as investor optimism about the future of artificial intelligence.
Gold and silver prices continued to climb, with silver rising more than 7% to $76.88 an ounce. Gold was up 1.4%. Both precious metals have risen this year as investors have looked for safe havens outside of stocks and bonds, and silver has also risen sharply due supply constraints. Miners like Freeport-McMoRan were among the biggest gainers Friday.
Earlier surges in gold prices partly reflected worries during the U.S. government shutdown. Expectations that the U.S. Federal Reserve will cut interest rates further in the new year, weakening the dollar against other currencies, have also fueled buying of gold.
Shares of Target rose 2% after The Financial Times reported that an activist investor is taking a stake in the retail giant.
U.S. crude oil fell nearly 2% and Brent crude fell more than 1%.
Markets in Hong Kong, Australia, New Zealand and Indonesia were closed. Most European markets remained closed Friday.
