Market Update

US shares as well as oil prices reaped gains after fresh inflation data piqued investors’ hopes that price rises may be nearing a peak.The S&P 500 advanced 0.5% Friday. The index retreated Thursday but was on track for its strongest week of gains since February. The tech-focused Nasdaq Composite Index …

Americans’ cost of living climbed again in November and drove the rate of US inflation to a nearly 40-year of 6.8%, putting more pressure on households as they confront rising prices of fuel, food stuff, cars and house rents.The consumer price index increased 0.8% last month, the government said Friday …

WTI crude oil briefly pushed back above USD 72.00 on Friday after not as high as feared US inflation triggered risk-on. Oil prices have since eased back but remained on course for their best week since August. Oil prices remained uneven on Friday, though have for the most part traded …

Consumer confidence in the US has strengthened modestly in December according to the University of Michigan’s preliminary estimate of the Consumer Sentiment Index. The reading of the index surged to 70.4, up compared to only 67.4 in November. This data comes above market expectations at 67.1. In the meantime, the …

The Swiss government is considering further of Covid-19 restrictions in order to contain a recent rise in infections. The government is considering imposing new rules to restrict indoor public access to vaccinated and naturally immune individuals, whilst indoor locations where face masks cannot be worn would require negative tests for …

Oil prices fell in trading on Friday, but they are still on track to achieve their biggest weekly gains since late August, as easing concerns about the Coronavirus variable “Omicron” on global growth and fuel demand affected market sentiment. Both Brent and West Texas Intermediate were on track to rise …

The futures contracts for US stock indices recorded a slight increase today, Friday morning, before the opening of trading, after falling yesterday evening, as the markets’ fears about the new Omicron parameter subsided, at the same time that investors awaited the report of the US Consumer Price Index (CPI) for …

European shares fell on Friday on nervousness related to the increase in infections with the Covid-19 disease and ahead of the release of US inflation data later, which led to caution overshadowing sentiment. The pan-European Stoxx 600 index was down 0.4 percent, following a broader risk aversion in global stock …

Gold prices rose on Friday, but are heading for a fourth consecutive weekly decline, as investors stay away from big bets ahead of inflation data in the United States that may prompt the Federal Reserve to reduce its bond purchases at a faster pace. Spot gold rose 0.2 percent to …

The Turkish lira fell by about 0.8 percent against the dollar on Friday, as investors continued to fear low-interest rates and high inflation, which pushed the lira towards a record low it reached last week. After it plunged to 13.9095, the lira settled at 13.8750 against the US currency. The …