US Pre-Mkt Oct 19
Nasdaq futures rise as better-than-expected Netflix results keep tech gains going
Oil prices rise as investors seek riskier assets and on China demand outlook
- Oil prices climbed on Wednesday, paring losses from the previous session, as investors jumped into riskier assets such as commodities amid gains in broader equity markets and on signs of renewed demand from top oil importer China.
- Brent crude futures for December settlement rose 22 cents, or 0.2%, to $90.25 a barrel by 0620 GMT.
- U.S. West Texas Intermediate crude for November delivery was at $83.50 a barrel, up 68 cents, or 0.8%.
Gold dips as steady U.S. dollar, looming rate hikes dim appeal
- Gold inched lower on Wednesday as the dollar gained some ground, while the U.S. Federal Reserve’s commitment to tightening its monetary policy also weighed on zero-yield bullion’s appeal.
- Spot gold was down 0.1% at $1,650.02 per ounce, as of 0317 GMT, while U.S. gold futures were flat at $1,654.80.
- While gold is generally seen as a hedge against inflation, higher interest rates increase the opportunity cost of holding non-yielding bullion.