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WTI crude prices rose to a 3-day high, surpassing $ 41.00 on Wednesday. Crude oil is adding to Tuesday’s gains, rising above $ 41.00 a barrel after upbeat comments from the International Energy Agency. Indeed, the agency expected a significant drop in global stocks in the last quarter of this …

The New York Stock Exchange (NYSE) opened higher on Wednesday, supported by the gains of tech companies, and despite mixed financial results by large banks. The Dow Jones Industrial Average added 51.49 points, or 0.18%, to 28,731.30 points. The S&P 500 gained 3.54 points, or 0.10%, to reach 3,515.47 points. …

Fed Vice Chairman Richard Clarida said on Wednesday that the US economy needs another year or maybe more to return to the levels of activity it was at before the outbreak of the pandemic. Clarida noted that policy moves by the Federal Reserve and Congress have helped spur activity such …

The Producer Price Index (PPI) in the US for final demand ticked higher to 0.4% on a monthly basis in September from 0.3% in August, the data published by the US Bureau of Labor Statistics showed on Wednesday. On a yearly basis, the PPI rose to 0.4% from -0.2% and …

Bank of America announced on Wednesday a 15.8% drop in quarterly profits, as it was hit by higher provisions for credit losses and declining performance in three of the four major sectors. The second-largest bank in the United States by assets set aside $ 1.4 billion in reserves to cover …

British Prime Minister Boris Johnson said on Wednesday that the advice he has today suggests that the regional approach to lockdowns can bring down the R-rate, as reported by Reuters. “The whole point is to seize this moment now to avoid the misery of another national lockdown,” Johnson added but …

Oil prices fell on Wednesday after US President Donald Trump dampened hopes for a fourth stimulus package to support the economy affected by the Coronavirus pandemic, in addition to an more than expected increase in US crude stocks. US West Texas Intermediate crude futures were down 42 cents, or 1 …

The dollar held on to its gains against most currencies on Wednesday, with renewed doubts about the Corona virus vaccine and the absence of an agreement on an additional financial stimulus package in the United States, which pushed dealers towards safer assets. There was no significant change in the yuan’s …

Gold rose on Wednesday as uncertainties about the global economic recovery and the presidential elections in the United States encouraged investors to exploit and buy a sharp decline in the precious metal in the previous session. Spot gold rose 0.3% to 1895.84 dollars an ounce, after it fell 1.9% on …

Oil prices fell on Wednesday, due to fears that the continued decline in fuel demand in light of the high cases of Coronavirus in Europe and the United States, the largest consumer of crude in the world, may impede economic growth. The monthly report of the Organization of Petroleum Exporting …