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Ford Motor plans to shut down several of its factories in North America due to the global shortage of semiconductors. The closure will take place for a few weeks over the course of July and August. The supply disruption might cost the company as much as $2.5 billion this year, …

The main indices of the New York Stock Exchange (NYSE) continued to show a mostly strong performance on Wednesday, with the S&P 500 index registering its 34th record close this year, and while the Nasdaq declined and failed to continue to the record breaking activity, the Dow Jones came close …

The U.S. Dollar (USD) rose on Wednesday to its highest level in about two and a half months to score large monthly gains against major peers. The greenback in June registered its biggest rise since November 2016, rising by about 3%. The Dollar Index (DXY), which measures the USD’s performance …

Oil prices finished higher on Wednesday, after data showed that U.S. crude inventories declined for the sixth consecutive week. Markets are anticipating the decision by members of the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies on output curbs. Brent crude futures for September delivery gained 34 …

Gold prices rose on Wednesday, amid the U.S. Dollar (USD) decline across the board, but showed a varied performance on the monthly and quarterly levels. The yellow metal’s front month contract for July delivery added $8.00, or 0.45%, to settle at $1,770.80 per ounce. This marked the biggest daily gain …

European stocks closed lower on Wednesday, amid concerns about the rising number of coronavirus cases, especially of the Delta variant, as well as reflation fears. The STOXX Europe 600 index lost 3.53 points, or 0.77%, and closed at 452.84 points. This market the biggest daily loss for the pan-European index …

The Chicago Business Barometer Index declined in June to 66.1 from 75.2 in May, hitting a four-month low, data showed on Friday. During the second quarter (Q2) of the year, the Purchasing Manager Index (PMI) rose by 7.9 points to 71.1, according to ISM-Chicago. This marked the highest quarterly reading …

Crude oil inventories in the United States declined last week for the sixth consecutive week, according to official data. The U.S. Energy Information Administration (EIA) on Wednesday reported that crude inventories fell by 6.7 million barrels in the week to June 25. The drop in oil inventories exceeded most market …

U.S. pending home sales increased last month to its highest level since 2005, data showed on Wednesday. The Pending Home Sales Index rose by 8.0% in May to 114.7, according to data by the National Association of Realtors. The surge in the gauge of contracts signed last month came against …

U.S. private payrolls rose more than expected during June, with businesses filling more vacancies to increase production amid demand recovery with the economy reopening, data showed on Wednesday. Private payrolls increased by 692,000 jobs this month, compared with May’s reading of 886,000, which was revised downwards from an initially estimated …