U.S. Treasury Secretary Janet Yellen is working to avoid default after Congress failed to extend the suspension of the debt ceiling. Yellen told Congress that the department is taking extra steps to ensure this, expressing in a written letter to lawmakers that resolving the issue would be the better choice. …

The United States Federal Reserve might begin cutting back the massive asset purchases as early as October, Governor Christopher Waller told CNBC in an interview on Monday. “In my opinion, that’s substantial progress and I think you could be ready to do an announcement in September.” Waller thinks it all …

One out of every three new cases infected with the novel coronavirus (COVID-19) in the United States were in Florida and Texas last week, according to a Biden administration counselor. Jeff Zients, White House Coronavirus Response Coordinator, told reporters in a press briefing on Monday that 17% of cases were …

The New York Stock Exchange (NYSE) finished Monday mostly in losses, erasing earlier gains amid worries about recovery from the coronavirus pandemic, with the rising number of infections with the new Delta variant, especially after the PMI showed slower expansion in U.S. economic activity last month. The Dow Jones Industrial …

Oil prices closed lower on Monday, amid increased concerns about the pace of economic recovery from the coronavirus pandemic with the rising number of infections with the new Delta variant, especially after indicators showed slower growth in activity in the U.S. and China last month. PMI readings in the world’s …

Gold prices finished higher on Monday as the U.S. Dollar (USD) declined across the board with Treasury bond yields falling to their lowest level in about six months. The yellow metal remains supported by the mixed economic data are concerns over the spread of the novel coronavirus Delta variant. Gold …

An improvement in investors’ sentiment helped European stocks finish at a new record level on Monday, opening the first session of August with a positive performance after gaining about 2% in July. The STOXX Europe 600 index closed higher by 0.59% at a new record high of 464.45 points. Gains …

The U.S. Dollar (USD) is maintaining a downward trend on Monday, opening the week with a negative performance across the board. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies is down by 0.18% at 92. Earlier today, the index touched a daily …

Construction spending in the United States increased marginally in June, data by the U.S. Department of Commerce showed on Monday. An increase of 0.1% in June brought construction expenditure to a seasonally adjusted annual rate of $1.55 trillion. The May reading was revised upwards to show a 0.2% decline, versus …

Markets went through something of a rollercoaster during the final week of July, which was highlighted by the release of important economic data and indicators, including GDP and inflation, and the U.S. Federal Reserve fifth meeting of the year. In Europe, a preliminary reading showed growth during the second quarter …