President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Friday that the road to economic recovery is long and challenging. “We are a long way from recovering the job market that we had back in January and February.” If Congress fails to pass more relief, more small …

The United States House of Representatives recently passed a $2.2 trillion stimulus package to help the American economy face the impact of the Coronavirus (COVID) pandemic. The bill was passed by the Democratic majority in the house, however, objections from Republicans mean the relief package is not likely to pass …

Oil prices declined on Friday, as markets are still reacting to the news of the President of the United States, Donald Trump, and his wife, testing positive for COVID-19, as well as an increase in US drilling rigs. Crude prices remain impacted by fears of a gloomy demand outlook. Brent …

Gold prices declined on Friday as markets are still digesting news of the President of the United States, Donald Trump, and his wife, testing positive for COVID-19. The news did not result in a shock or panic buying of the precious metal, which ends the week in gains. Gold futures …

Active rigs drilling for natural gas and crude oil in the United States increased, for the second consecutive week, by 5 rigs to a total of 266, according to the data of the weekly report released by Baker Hughes on Friday. Meanwhile, oil rigs added six more to reach 189 …

The President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Friday that he would like to be careful about increasing the United States Federal Reserve bond purchases. Kaplan also said on Friday in an interview with the Wall Street Journal that he supports maintaining interest rates near …

The University of Michigan Consumer Sentiment Index rose to 80.4 in September, up from 74.1 in August, data showed on Friday. The index remains well below its levels prior to the COVID-19 pandemic, which reached a peak of 101 in February, and below its level for the same period last …

Factory orders in the United States increased for the fourth consecutive month during August, according to data by Department of Commerce on Friday. Orders levelled up by 0.7% last month, after rising by 6.5% in July. Durable goods orders went up by 0.5%, while nondurable goods orders advanced by 0.8%.

The New York Stock Exchange (NYSE) finished higher on Thursday, amid anticipation for a new economic stimulus package. The Dow Jones Industrial Average increased by 35.2 points, or 0.1%, and closed at 27,816.90 points. The S&P 500 index closed higher by 17.8 points, or 0.5%, at 3,380.8. The Nasdaq Composite …

Oil prices declined on Thursday, to finish at its lowest level in about two weeks, amid renewed concerns about the global demand recovery and the rising number of COVID-19 cases in many countries. Brent crude futures for December delivery fell by $1.37, or 3.2%, to close at $40.93 per barrel, …