At the end of the trading session on February 14, the Dow Jones index decreased by 0.37% to 44,546.08 points. The S&P 500 index decreased by 0.01% to 6,114.63 points. Meanwhile, the Nasdaq Composite index increased by 0.41% to 20,026.77 points. For the whole week, all three major US indexes increased by 0.6% to 2.6%.
President Trump signed a memorandum outlining plans to impose tariffs on goods from countries, rather than imposing tariffs immediately. Meanwhile, the January PPI and CPI in the US reinforce the possibility that the PCE index, the Fed’s preferred inflation gauge, could fall when it is released later this month.
In the weekly economic and financial news, spot gold price increased by 0.7%; in contrast, gold futures price decreased by 1.7% to 2,897.40 USD/ounce. Meanwhile, Brent and WTI oil prices increased by 1% for the whole week.
Copper prices surged last week, buoyed by a combination of factors, including China’s return from holiday and some positive economic indicators. In addition, the Gabriela Mistral unit of Chile’s state-owned copper producer Codelco, the world’s largest copper producer, reached an early agreement with its workers’ union. The new collective bargaining agreement for Gabriela Mistral, one of Codelco’s smallest mining units, will take effect for three years from June 1 and will cover nearly 300 workers.
This early agreement shows that both management and the union have cooperated effectively to avoid labor conflicts, especially strikes. Therefore, no strikes have taken place at the Gabriela Mistral unit during this period. Let's join together HVA Update the latest economic and financial news.
