Kevin Hassett, known for his extremely dovish stance, is unlikely to be appointed as the Federal Reserve Chair, as Trump stated he prefers him to remain in his current position.

Trump stated that he prefers to keep Hassett in his current position.

Zhitong FinanceJan 16 23:51

U.S. Stock Market Close | Trump's Remarks on Fed Candidates Impact Markets, Three Major Indices Slightly Lower; Chip Stocks Continue Rally, Micron Technology Surges Over 7% Breaking $40 Billion Market Cap; Cryptocurrency Mining and Space Concepts Soar Acr

The Philadelphia Semiconductor Index rose by 1.1%. For the week, the Magnificent Seven underperformed compared to the S&P 493, with the financial sector delivering lackluster performance. The yield on the 10-year U.S. Treasury note increased by 5 basis points, while the U.S. dollar briefly fell below 99 before rebounding by 0.23% from its daily low, ultimately closing flat compared to Thursday's close. Spot gold declined by 0.7%, but still recorded a weekly gain of 2%. Silver fell by 2.4%, hovering around the $90 mark amid volatile trading. Copper prices continued their correction, with London copper dropping more than 2%, reversing earlier gains during the week.

wallstreetcn07:29

Overnight U.S. Stocks | Major Indices Record Weekly Declines; Spot Gold Falls Below the USD 4,600 Mark

At the close, the Dow Jones Industrial Average fell by 83.11 points, or 0.17%, to 49,359.33 points; the Nasdaq Composite Index dropped by 14.63 points, or 0.06%, to 23,515.39 points; and the S&P 500 Index declined by 4.46 points, or 0.06%, to 6,940.01 points.

Zhitong Finance07:06

Silver futures in New York fell more than 2.8%, trading at $89.9079 per ounce.

Gelonghui, January 17 | At the New York market close on Friday (January 16), spot silver fell by 2.72% to $89.9079 per ounce, with a cumulative increase of 12.70% this week. COMEX silver futures dropped by 2.82% to $89.740 per ounce, surging 13.12% over the week. COMEX copper futures declined by 2.45% to $5.8450 per pound, recording a weekly loss of 0.96%. Spot platinum fell by 3.32% to $2,332.33 per ounce, with a weekly gain of 2.42%; spot palladium decreased by 0.72% to $1,809.76 per ounce this week.

Gelonghui Finance06:18

Profit-taking pressures gold and silver prices.

During the U.S. trading session on Friday (January 16), the gold and silver markets saw another strong performance by the bulls this week, with both metals hitting record highs. As the U.S. approaches a three-day holiday weekend, short-term futures traders are taking profits and partially unwinding positions. Additionally, risk aversion in the broader market has eased somewhat later this week. The February gold futures contract was trading at $4,559.1 per ounce, down $64.6, while the March silver futures contract was at $87.390 per ounce, down $4.957. The U.S. Dollar Index is on track for a third consecutive gain. After hitting a six-week high on Thursday, the index remained stable during early trading today.

FX678 FinanceJan 16 23:49

Express News | Trump hopes Hassett will remain in his current position.

BreakingsJan 16 23:37