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US market indices at record highs

The three major US stock indices finished at record closing highs ahead of Independence Day celebrations.
US market indices at record highs US market indices at record highs US market indices at record highs US market indices at record highs US market indices at record highs

Macy’s 4th of July fireworks at the New York Stock Exchange

Staff reporter

The S&P500, Dow Jones and Nasdaq rose as US data pointed to slowing economic growth, fuelling hopes of further interest rate cuts.

Gold rose back over US$1,400 an ounce and was worth close to US$1,419/oz on the spot market earlier.

The world's biggest gold miner Newmont Goldcorp (NYSE: NEM) touched a one-year high intraday and closed up 0.8%.

Iron ore has continued to rise, to $127.15 per tonne for 62% fines according to MySteel, amid ongoing supply constraints.

BHP (ASX: BHP) remains close to a multi-year high but was off 0.4% in afternoon Australian trade.

In London, Anglo American (LSE: AAL) and Glencore (LSE: GLEN) closed 1.99% and 0.95% lower respectively.

Finally, Avesoro Resources (TSX: ASO) was one of the bigger market risers in Toronto as it regained some value following a June plunge before a restart of operations at its Youga gold mine in Burkina Faso.
 
Avesoro gained about 17% or C17c to $1.19 yesterday but remains below its value of $1.52 a month ago.