Economic Report

With US markets closed this Friday in celebration of Independence Day holiday, oil prices enjoyed a good week and gained more than 4%. According to Reuters, oil fell below 43 dollars/barrel on Friday on the back of the increased numbers of coronavirus infections in the US. However, it noted that …

The plunge in eurozone business activity caused by lockdowns imposed to stop the spread of the coronavirus eased sharply last month as more businesses reopened and people ventured out, Reuters reported on Friday, citing a survey. Further details A June Reuters poll predicted the economy contracted an unprecedented 12.5% last …

Friday’s survey showed that the decline in business activities in Eurozone had receded sharply, the recent decline as a result of public isolation measures to halt the spread of Corona as more companies resume their activities. Nearly 11 million people worldwide have been infected with Covid-19, but the restrictions have …

The June NFP report was stronger than expected, showing better results than what most economists estimated amid efforts to get the economy back to normal.  According to the Bureau of Labor Statistics, the US added 4.8 million jobs, and the unemployment rate came in at 11.1%, which according to BLS, …

Nonfarm Payrolls are expected to record a jump in June due to reopening operations and rehiring during the month. After an increase by 2.5m in May and a significant decrease in April, economists estimate a 4m gain in June. But as coronavirus hits back, the US job growth is likely …

The New York Stock Exchange (NYSE) closed higher on Wednesday, with investors growing optimistic about news of a potential vaccine for the coronavirus (COVID-19). The S&P 500 index gained 0.50%, and the NASDAQ Composite Index increased by 0.95%, while the Dow Jones Industrial Average closed lower by 0.3%. A COVID-19 …

Members of the US Federal Reserve Board have agreed to use all of the tools at their disposal to help push the economy out of recession, as shown by the meeting minutes of their most recent meeting, which took place on June 9-10. The US economy entered into a recession …

The World Health Organization (WHO) on Wednesday warned against ineffective approaches in combating the coronavirus disease (COVID-19). Some countries face a long, hard road ahead in the fight against the pandemic, said the WHO Director-General Tedros Adhanom Ghebreyesus, as reported by Reuters. “Countries that have the systems in place to …

The New York Stock Exchange (NYSE) opened Wednesday in gains, supported by positive economic data and developments in the search for a vaccine against the coronavirus disease (COVID-19). The Wall Street indices are all green at the moment, with the Dow Jones Industrial Average Index up 0.26%, the NASDAQ Composite …

The purchasing managers’ index (PMI) for the manufacturing sector in the United States increased to 52.6 in June, as shown by the data of the Institute for Supply Management (ISM). This comes after the index recorded 43.1 in May and was expected to register 49.5 and remain in the contraction …