Silver Jul 24 (SI=F)
| Pre. Settlement | N/A |
| Settlement date | 2024-07-29 |
| Open | 29.825 |
| Bid | 31.765 |
| Last price | 29.876 |
| Day's range | 29.700 - 31.850 |
| Volume | |
| Ask | 31.775 |
- Yahoo Finance Video
Dow Jones crosses 40,000, commodities demand rises: Market Domination Overtime
On today's episode of Market Domination Overtime, Yahoo Finance hosts Julie Hyman and Josh Lipton break down the market close and the day's biggest stories. The Dow Jones (^DJI) closed higher for the fifth week straight, at a record 40,000. Meanwhile, the Nasdaq Composite (^IXIC) dipped 0.07% and the S&P 500 (^GSPC) held above its 5,300 benchmark. Hennessy Funds CIO and Portfolio Manager Ryan Kelley and RBC Capital Markets US Economist Michael Reid break down what the Dow Jones record could signal for the overall economy as interest rates remain relatively high. Commodities like Copper (HG=F) and Silver (SI=F) have reached new heights as demand increases. Bloomberg Intelligence Senior Commodities Strategist Mike McGlone gives key insights into the surge of metals and how China plays a critical role. Outgoing Boeing (BA) CEO Dave Calhoun will remain on the company’s board following a shareholder vote. Boeing will seek a new CEO to help the company recover from the two fatal 737 MAX crashes and the detached fuselage on an Alaska Airlines flight. The company is also facing potential prosecution from the Justice Department for violating an agreement reached to avoid criminal charges over the 737 MAX crashes. Finally, Julie Hyman and Josh Lipton break down what investors should watch next week, from Nvidia (NVDA) earnings to the Federal Reserve's May FOMC minutes. This post was written by Melanie Riehl
- Yahoo Finance Video
The story behind the surge in silver, copper, and gold
Copper (HG=F) and Silver (SI=F) have both risen to new highs as demand increases for these metals, while Gold (GC=F) also rises as China's Ministry of Finance proceeds with a stimulus plan involving the sale of $138 billion worth of ultra-long special sovereign bonds. Bloomberg Intelligence Senior Commodities Strategist Mike McGlone joins Market Domination Overtime to give insight into metals and how the markets might trade moving forward. McGlone elaborates on what could happen with silver as China looks to buy many precious metals: "There's potential rumors that, we know China has been the biggest buyer of gold, not just Chinese Central Bank, but citizens. There may be some hoarding of silver, but the key thing I'm more worried about silver is that it might follow that path, that autocorrelation path in copper which spikes and then goes back down. In the macro, the big picture, though, I'm very favorable in terms of commodities, most favorable to metals versus most other commodities. " For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino
- Yahoo Finance Video
Why silver prices have 'two different personalities': Analyst
Both silver (SI=F) and gold (GC=F) have seen their prices soar amid uncertainty in the Federal Reserve's policy decisions and ongoing geopolitical conflicts. Will silver's run continue or is this just an anomaly? Deutsche Bank Research Analyst Michael Hsueh joins Wealth! to give insight into the silver market and what investors can expect for the future of the commodity. Hsueh explains how Silver works in trading: "It has two different personalities, right? One is as gearing to the global manufacturing cycle, and two, is as a sensitivity to gold, usually with a beta that's above 1. Right now, with the global manufacturing cycle, not really doing a whole lot. I think in the US certainly, we've kind of troughed in the mid-cycle slowdown, in, over the course of '22 and mid 2023, and now we're in a very shallow recovery from that. But I think broad picture on the manufacturing cycle is not a very strong input to the silver price at the moment... Right now, it seems to be the sensitivity to gold that is really dominating silver at the moment." For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Nicholas Jacobino
