The S&P 500 reached a new record high on Monday after Pfizer announced the Corona vaccine, which is more than 90% effective in preventing Covid-19, per Pfizer. At the time of writing, the index increased by 3.75% to 3,640. Meanwhile, the Dow Jones Industrial Average reached an all-time high, up …
Read More »USD/JPY Struggling to Restore 104.75
Financial markets kicked off the week with optimism about the US election after all US new platforms announced that Joe Biden had won the election, even though Do Trump would not give up without a court confrontation. However, what gave a strong boost to the markets was the reports that …
Read More »Sentix: Eurozone Investor Sentiment Deteriorated in November But Above Expectations
The survey showed investor sentiment in the euro area declined for the second month in a row in November, but the decline was not as severe as some feared, given that the restrictions imposed to curb the outbreak of the Coronavirus did not harm the economy as expected. The Sentix …
Read More »S&P 500 Futures Hit Record High on Pfizer’s Vaccine Hopes
US stock futures jumped sharply in the past hour after the pharmaceutical company Pfizer announced that its coronavirus vaccine, in cooperation with German BioNTech, was more than 90% effective in preventing infection. As an initial market response, S&P 500 futures rose to a new record high at 3648. In addition, …
Read More »Breaking: Pfizer Says Covid-19 Vaccine 90% Effective And Markets Jump
Pharmaceutical giant Pfizer has said that its COVID-19 vaccine study has shown that it prevents 90% of infections among those who had no evidence of previous infection. The company has been developing a vaccine with Germany’s BioNTech. No fewer than 43,500 have been participating in the Phase 3 trial. Pfizer …
Read More »Economic activity in France is 12% Lower Due to Isolation Measures
The French central bank said that economic activity in the country is witnessing a 12% decline this month from its normal level after the country entered into general isolation measures to limit the spread of the Corona virus for the second time this year. The government imposed a new lockdown …
Read More »US Dollar Drops to Its Lowest Level in 10 Weeks
The dollar reached its lowest level in ten weeks on November 9 as investors heralded the election of Joe Biden as President of the United States by buying currencies exposed to trade thanks to expectations that a quieter administration in the White House will boost global trade and that monetary …
Read More »European Stocks Jump After Biden’s Victory
European stocks jumped Monday as Democrat Joe Biden’s victory in the US presidential election raised hopes for better trade relations between Washington and Europe, and chipmaker Infineon increased thanks to strong earnings expectations. The European Stoxx600 index rose 1.3% by 08:05 GMT, and the German DAX index, which relies on …
Read More »Japan’s Nikkei Index Jumps to The Highest Level in Nearly Three Decades
Japan’s Nikkei index reached its highest level in nearly three decades on Monday, November 9, after Joe Biden won the US presidency, while Honda Motor shares led the gains among carmakers thanks to strong earnings numbers. Investors, who were reluctant to buy last week due to political uncertainty in the …
Read More »German Exports Rise More Than Expected in September
German exports rose more than expected in September and foreign trade gave a boost to Europe’s largest economy that continued into the fourth quarter of the year as it struggles to avoid slipping into a double-digit deflation. The Federal Statistics Office said exports, adjusted for seasonal factors, rose 2.3% on …
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