Oil and Gold Advance After Venezuela; Dollar Rises: Markets Wrap

9zjb4eu}w27dw5tr5lu8dxeo_media_dl_1.png BloombergArticle content(Bloomberg) — Treasuries and US stock futures posted small moves and the dollar climbed after jobs data did little to strengthen the case for further Federal Reserve interest-rate cuts. Oil advanced after President Donald Trump ramped up pressure on Venezuela.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe US currency gained against all its Group-of-10 peers, strengthening the most versus the yen. Ten-year Treasury yields were steady at 4.15%. Europe’s benchmark stock gauge climbed 0.3%, led by energy companies after Trump’s blockade of tankers going into and leaving Venezuela lifted crude prices. Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentIn the UK, the slowest inflation print in eight months sent the pound 0.7% lower and lifted the FTSE 100 almost 1%.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentThe latest US labor data signaled a cooling jobs market — but not one rapidly weakening — prompting traders to hold off on increasing bets for near-term rate cuts. Attention now turns to Thursday’s inflation numbers for clues on whether the narrative may shift in the final full trading week of the year.Article content“Yesterday’s November US jobs data is more of a confirmation of the prior expected rate path rather than a new catalyst,” said Andrea Gabellone, head of global equities at KBC Global Services. “Data is still volatile but overall I don’t see the Fed rushing to cut earlier or more aggressively.” Article contentMeanwhile, the Trump administration threatened retaliation against the European Union in response to efforts to tax American tech companies, singling out prominent companies, including Accenture Plc, Siemens AG and Spotify Technology SA, as possible targets for new restrictions or fees.Article contentOil EscalationArticle contentTrump’s Venezuela oil blockade represents an escalation and follows the seizure of an oil tanker last week by US forces.Article contentArticle contentAs well as lifting crude prices, the tensions helped send gold above $4,330 an ounce, pushing it close to the record $4,381 set in October. Bullion has jumped about two-thirds this year and is on track for its best annual performance since 1979. Article contentOther precious metals were also gaining, with silver climbing to a record above $66 an ounce and Platinum hitting the highest since 2008.Article contentThe contrast between the performance of US equities and commodities in December is boosting the asset class’s appeal, Ahmad Assiri, a strategist at Pepperstone Group Ltd., said in an e-mail. Article content“That divergence is increasingly influencing cross asset planning and allocation decisions, with precious metals emerging as a more and more credible alternative destination for capital and reinforcing what is now a well established momentum trade,” he said.Article contentElsewhere, the Indian rupee jumped 1% after the central bank stepped in to support the currency. Bitcoin slid more than 1% to trade around $86,700 as the token headed for the fourth annual decline in its history.Article contentCorporate Highlights:Article contentOpenAI is in initial discussions to raise at least $10 billion from Amazon.com Inc. and use its chips, a potential win for the online retailer’s effort to broaden its AI industry presence and compete with Nvidia Corp.Tesla Inc.’s sales in California are poised to be suspended for 30 days if it doesn’t change its marketing practices that allegedly mislead consumers about its driver-assistance technology.Warner Bros. Discovery Inc. is planning to reject Paramount Skydance Corp.’s hostile takeover bid due to concerns about financing and other terms, people familiar with the matter said.Waymo, Alphabet Inc.’s autonomous driving unit, is in discussions to raise more than $15 billion at a valuation near $100 billion, in a financing round led by its parent company.Luckin Coffee Inc. is considering making a bid for Nestle SA’s Blue Bottle Coffee to boost its brand profile and expand in the premium coffee segment.SBI Shinsei Bank Ltd. surged as much as 16% in its trading debut in Tokyo on Wednesday after raising ¥322 billion ($2.1 billion) in Japan’s second-biggest initial public offering of the year.Trending The Federal Reserve’s rate cut was a clear signal to investors Investor Expect 'dramatically higher' oil prices in 2026, says Eric Nuttall Oil & Gas Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance McKinsey plots thousands of layoffs in consulting slowdown Work Bank of Canada wants to make stablecoins 'good money,' Macklem says Finance Article contentSome of the main moves in markets:Article contentStocksArticle contentThe Stoxx Europe 600 rose 0.4% as of 8:43 a.m. London timeS&P 500 futures rose 0.1%Nasdaq 100 futures rose 0.2%Futures on the Dow Jones Industrial Average were little changedThe MSCI Asia Pacific Index rose 0.3%The MSCI Emerging Markets Index rose 0.7%Article contentCurrenciesArticle contentThe Bloomberg Dollar Spot Index rose 0.3%The euro fell 0.3% to $1.1717The Japanese yen fell 0.5% to 155.45 per dollarThe offshore yuan was little changed at 7.0412 per dollarThe British pound fell 0.7% to $1.3328Article contentCryptocurrenciesArticle contentBitcoin fell 1.5% to $86,443.68Ether fell 0.9% to $2,925Article contentBondsArticle contentThe yield on 10-year Treasuries advanced two basis points to 4.16%Germany’s 10-year yield was little changed at 2.84%Britain’s 10-year yield declined six basis points to 4.46%Article contentCommoditiesArticle contentBrent crude rose 1.1% to $59.56 a barrelSpot gold rose 0.4% to $4,317.78 an ounceArticle contentThis story was produced with the assistance of Bloomberg Automation.Article content—With assistance from Jake Lloyd-Smith and Preeti Soni.Article contentShare this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. 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The Federal Reserve’s rate cut was a clear signal to investors Investor Expect 'dramatically higher' oil prices in 2026, says Eric Nuttall Oil & Gas Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance McKinsey plots thousands of layoffs in consulting slowdown Work Bank of Canada wants to make stablecoins 'good money,' Macklem says Finance