Finally, oil prices are rebounding from recent losses, on the back of reports that OPEC+ could adjust plans to raise oil production if large consuming countries release crude from their reserves or if the coronavirus pandemic dampens demand. This marks the latest development in the market after weeks long tug-of-war …
Read More »Bostic: Fed Should Consider How Fast To Taper
Atlanta Fed’s Raphael Bostic said on Monday night interview on Bloomberg TV that faster taper would give the US more optionality, but “we still have a COVID economy, he added.Given the mixed comments and Wall Street’s latest mild reaction, as S&P 500 Futures printed 0.14% intraday gains following the comments …
Read More »Afternoon Slump Leaves Major US Indexes Lower
An uneven trading session on Wall Street closed with stocks mostly lower Monday, as a late afternoon burst of selling derailed the market from a fresh all-time high.The S&P 500 fell 0.3% after having been up as much as 1% earlier in the day and on pace to eclipse the …
Read More »November’s Eurozone Consumer Confidence Deteriorates
Consumer confidence in the Eurozone has dropped in November for the second successive month as rising COVID-19 cases and higher energy prices in addition to surging inflation dented consumers’ moods and continued to worry citizens, as the Euro hit a 21-month low against the sterling.The European Commission said Monday that …
Read More »October’s US Existing Home Sales Rise
Existing Home Sales in the U.S. rose 0.8% in October to a seasonally adjusted annualized rate of 6.34 million units, according to data released by the National Association of Realtors. Sales were 5.8% lower than they were in October 2020 and the current figure outpaced the originally projected 6.20 million. …
Read More »Wall Street, European Stocks Jump on Powell’s Second Term News
Wall Street shares rose to record levels on Monday and European stocks turned into the positive territory after US President Joe Biden picked Jerome Powell to continue as Chair of the Federal Reserve Bank, in a move welcomed as a signal of stability by global investors.The S&P 500 rose 0.92% …
Read More »Chicago Fed: US Economic Growth Revamped in October
The US economy gained momentum in October following slow growth in the last few months, according to an index compiled by the Federal Reserve Bank of Chicago released Monday.The Chicago Fed National Activity Index rose to 0.76 in October from minus 0.18 in September, topping the 0.17 consensus forecast from …
Read More »Powell’s Reappointment, No Change of Jockeys in the Middle of Race
Jerome Powell is set to serve a second term as chairman of the Federal Reserve. Under Powell, consumers can expect the central bank to maintain its patient stance regarding inflation and interest rates.Biden praised Powell and the Fed for decisive action that cushioned the impact of the Covid-19 pandemic. In …
Read More »Dubai TV Interview, Nov. 22, 2021
Speaking on Dubai TV, Monday, Mohamed Hashad, Director of Research and Development at Noor Capital and member of the American Association of Professional Technical Analysts, shed light on a number of developments in the markets this week: European Stocks Hashad commented on how markets would deal today with concerns over …
Read More »US Pres. Biden Nominates Jerome Powell as Fed Chair
White House announced on Monday that Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Joe Biden. Lael Brainard, who reportedly was the other top candidate for the position, will become the new vice-chair, the press release further revealed.
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