The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0911 ET - Treasury yields rise as the number of people filing for jobless insurance in the U.S. falls to 187,000 from an upwardly revised 209,000. Economists surveyed by WSJ expected an increase to 212,000. Oil prices are racing back toward $100. President Trump says on Truth Social that the U.S. would hold Iran responsible for future attacks by Houthi militants after the group fired on two Saudi tankers in the Red Sea. The ICE US dollar index is up 0.2%. U.S. stock futures are sharply lower with S&P futures off 71 points. The 10-year yield rises to 4.71% from yesterday's settle of 4.66%. The two-year increases to 4.35% from 4.30%. (patrick.sheridan@wsj.com)
0729 ET - A question mark remains over how much Nestle has suffered from retailers pulling its products from their shelves, putting pressure on its real internal growth in Europe, Warren Ackerman from Barclays says. Nestle's overall RIG--a measure of sales volumes and one of the company's stated priorities--rose to 1.8% in the second quarter from 1.2% in the first. However, in Europe, RIG was flat on quarter. Shares fall 7% to 80.14 Swiss francs. (aimee.look@wsj.com)
0627 ET - Palm oil ended higher as crude oil and soybean oil prices surged amid escalating tensions in the Middle East conflict, according to David Ng, a trader at Kuala Lumpur-based Iceberg X. The U.S. is increasing the presence of forces, medics and weaponry to the Middle East to give President Trump more military options, as he considers expanding the conflict against Iran, The Wall Street Journal reported. Ng sees prices for palm oil well supported above 4,600 ringgit a ton and resistance at 4,780 ringgit a ton. The Bursa Malaysia Derivatives contract for October delivery rose 87 ringgit to 4,709 a ton.(tracy.qu@wsj.com)
0335 ET - Gold prices fall after reaching a two-week high on Wednesday, as escalating tensions in the Middle East drive oil higher, fueling concerns over inflation and interest-rate hikes. In early trading, gold futures in New York are down 1% to $4,110.30 a troy ounce, after rising in the previous session as dip-buyers emerged despite firmer U.S. yields. Investors now await the Federal Reserve's meeting next week for more cues on the monetary policy outlook. While the U.S. central bank is widely expected to keep rates unchanged this month, traders expect at least one rate hike by the end of the year. Higher interest rates tend to diminish the appeal of non-yielding bullion. (giulia.petroni@wsj.com)
0229 ET - Nestle's real internal growth, a measure of sales volume, is accelerating, says Vontobel's Jean-Philippe Bertschy in a note after first-half earnings. Cost savings are kicking in, and it is seeing material improvements in cash generation, he says. This has been reassuring because of its higher advertising and marketing spend, he adds. Nestle is showing that it can invest in growth, while still protecting free cash flow and profitability. The Swiss giant's portfolio reset is gaining momentum and growth quality is improving, he adds. (aimee.look@wsj.com)
0111 ET - UBS's Joni Teves remains upbeat on gold in the medium and long term. In a positive sign, gold prices have risen since the start of this week, while Hong Kong and China gold equities have gained around 20% in three days, the gold strategist says in commentary. "We believe sentiment towards gold is starting to improve, [and] continue to expect prices to rebound from current levels by year-end," she says. UBS's global team remains positive on the medium-term outlook for gold and forecasts $4,675 an ounce and $4,800 an ounce by the end of 2026 and 2027, respectively. The next key events to watch are the Fed's policy tone at the end-July FOMC meeting, and further developments in the Middle East, she says. Spot gold is down 0.2% at $4,126.32 an ounce. (tracy.qu@wsj.com)
2309 ET - Palm oil rises in early Asian trading, driven by overnight gains in soybean oil prices on the Chicago Board of Trade. Still, sentiment is likely to remain negative unless crude palm oil futures stay above 4,700 ringgit a ton, RHB says in a note. A clear move above that level could shift market sentiment to a more positive bias, it adds. RHB expects prices to face resistance at 4,900 ringgit a ton and find support at 4,390 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery is 85 ringgit higher at 4,707 ringgit a ton. (yingxian.wong@wsj.com)
2243 ET - Copper is higher in early Asian trading. Signs of supply tightness are lending support, say ANZ research analysts in a commentary. The premium paid for copper over local supplies in China has risen to US$100 a ton, up from a low of US$20 a ton in late January, they note. Supply disruption concerns are also being fueled by severe storms in Chile which may result in copper production disruption, they say. The three-month LME copper contract is 0.2% higher at $13,831.00 a ton. (tracy.qu@wsj.com)
2229 ET - Iron ore rises in Asian trading, with the most-traded iron ore contract on the Dalian Commodity Exchange 1.0% higher at 749.50 yuan a ton. The global surge in iron-ore shipments during the first half of the year has largely run its course, Nanhua Futures analysts say in a commentary. They note that shipments typically ease in July due to seasonal factors. Given shipping lead times, port arrivals are expected to remain relatively weak over the next two weeks, they add. Still, declining profitability at Chinese steel mills continues to weigh on demand, leaving few near-term price catalysts. With prices across the ferrous metals complex remaining relatively low, iron ore is expected to trade in a narrow range near term. (jason.chau@wsj.com)
2009 ET - Gold is steady in early Asian trade. While a modest dollar pullback has supported gold prices, the broader outlook for the metal remains bearish in the near term due to elevated bond yields across major economies, says Tony Sage of Critical Metals in commentary. Rising oil prices amid escalating tensions in the Middle East have fueled concerns over global inflationary pressures and reinforced hawkish monetary policy expectations, he says. Gold prices are at risk ahead of central bank decisions with the European Central Bank's rate decision this week, and the Federal Reserve, Bank of Japan and Bank of England next week. A higher interest-rate environment typically drags down non-interest-yielding assets like gold. Spot gold is flat at $4,133.08 an ounce. (megan.cheah@wsj.com)
1930 ET [Dow Jones]--Wesfarmers's expansion of its Mt Holland lithium project wasn't really in doubt. However, Jefferies suggests the full benefits from doubling capacity of the mine and concentrator remain to be seen. "With significant uncertainty and volatility in lithium prices, it is unclear whether Wesfarmers will generate an acceptable return on its circa A$3 billion total project investment," Jefferies analyst Michael Simotas says. It notes the hydroxide refinery isn't yet proven. "But the expansion plan carries less operating risk given it won't expand refinery capacity and the first concentrator has been successful," Jefferies says. It rates Wesfarmers's stock a hold with a A$73.00/share price target. Wesfarmers ended Wednesday at A$89.90. (david.winning@wsj.com; @dwinningWSJ)
1913 ET - Westgold Resources could positively surprise with its final dividend for FY26, signals Macquarie. Westgold had cash, bullion and investments of A$939 million at the end of June. That's a strong balance sheet position, Macquarie says. It notes that Westgold didn't pay an interim dividend as the company had only recently started paying tax and wanted to pay a franked dividend. "Heading into the August results we forecast a final FY26 dividend of A$0.09 which is 12.5% above Visible Alpha of A$0.08," Macquarie says. It retains an "outperform" call on Westgold, which ended Wednesday at A$4.85. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
July 23, 2026 09:15 ET (13:15 GMT)
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