Market Update

Shares of the COVID-19 vaccine makers Pfizer, Ocugen, and Vaxart are all moving in the negative direction on Monday. Specifically, Pfizer’s stock is down by approximately 4%, Ocugen’s equity is in the red by 5.64%, and Vaxart’s shares are underwater by a hefty 8.7%, as of 12:23 p.m. ET Monday …

The US government could reach the maximum amount of money that the Department of the Treasury is allowed to borrow by 15 December.If Congress doesn’t act to fix that limit, known as the debt ceiling, there could be big consequences for the timeliness of government payments that the nation relies …

China recorded a steep economic slowdown in Q3 as its pandemic bounce fades—and now, Beijing is taking on longer-term issues including household debt and energy consumption. China’s central bank said it would reduce the amount of money banks are required to set aside, as a reserve, as it moved to …

Travel stocks helped European shares mark a strong start to the week on Monday, after sharp losses late last week, boosted by hopes that the Omicron variant of the coronavirus would be mild.After third straight week in the red territory, the pan-European STOXX 600 (.STOXX) closed up 1.3%. The technology …

The International Monetary Fund could be about to cut growth forecasts for the euro area as concerns over the omicron Covid variant and persistently higher inflation grow.The Fund said in October that it expected the euro zone economy to grow by 4.3% in 2022. Now, the institution has warned about …

US shares have continued to recover in the second half of the US session, with the recovery now more broad-based with tech and growth stocks joining the party despite continued elevation in yields. The S&P 500 index is now up by nearly 1.5% and is eyeing a test of the …

Reserve Bank of New Zealand Deputy Governor Geoff Bascand said on Monday that while longer-term inflation expectations in the country remain well anchored, short-term inflation expectations have increased. Key Comments:“The RBNZ will take considered steps for now.”“Predicts unemployment rate to drift up to about 4%.”“More confident that the labour market …

South Korea is sending citizens another round of stimulus in response to the economic challenges created by the pandemic. Finance Minister Hong Nam-ki opposed this call and suggested a smaller assistance package. Prime Minister Kim Boo-kyum backed up this position by adding that the government could not afford another round …

The Reserve Bank of Australia is having a monetary policy meeting and will announce the resulting decision on Tuesday, December 7. Economists and researchers of seven major banks have focused on the potential outcomes from central bank’s meeting. Policymakers are expected to hold their fire and keep the current policy …

European Central Bank governing council member Robert Holzmann said on Monday that inflation in the Eurozone would unlikely fall below 2.0% in 2022, according to Reuters citing Handelsblatt. Holzmann added that inflation is set to reach its peak sometime around the turn of the year. Holzmann said that the ECB …