The price of gold rose slightly Tuesday as investors awaited the first quarter earnings results from U.S. manufacturers and retailers, which have been volatile in recent years.
The Dow Jones Industrial Average rose 10.7 points, or 0.6%, to 22,566.21, the S&P 500 rose 2.5 points, 1.1%, to 2,907.13 and the Nasdaq Composite rose 7.7% to 6,542.69.
The gains for the month of January came despite the fact that many companies reported lower-than-expected revenue and adjusted earnings for the second quarter.
The Federal Reserve and other financial markets also had a difficult time getting their feet under them amid the Great Recession, and the U.K. voted to leave the European Union.
The rebound in gold prices, though, may have been fueled in part by a new U.N. report on global economic progress and the impact of the Brexit vote on world trade.
The International Monetary Fund said Tuesday that the U,S.
and other industrialized countries had expanded their economies in the second half of 2016, which was the strongest performance in decades.
It said the U., Canada, Japan, Germany and France had all seen their GDPs grow faster than the U’s.
The IMF said the economic gains in 2016 were “in large part due to the recovery of global trade and investment, rising productivity, and an increase in investment in technology and infrastructure.”
But it said the recovery was not fully realized and that the world economy is still struggling to recover from the economic crisis.
The United States and the United Kingdom saw their GDP growth slow for the first time in three years in 2016, while Germany’s grew by only 0.1%.
The IMF report did not provide a full picture of the economic outlook in the U and other countries, but it did show that growth in 2016 was lower than the 3.5% rate of growth that it had forecast.
The report was released just days after President Donald Trump declared victory in the 2016 U.B.C. election and the British government announced it would leave the EU.