Market Update

Unemployment data still irritate the U. S. economy as Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said that he is watching the labor market for signs of when millions of workers who were forced to leave their jobs during the pandemic will return. Kashkari said that he …

As the looming energy crisis stirs up old inflation fears, stagflation risk is back in the market, carrying some good news for gold, which proved this week that there is strong buying interest below the USD 1,750 per ounce level, according to analysts.After falling towards USD 1,720 per ounce mid …

Since U.S. markets opened on Friday, bitcoin price has risen by nearly 10%. A popular indicator used by bitcoin traders may explain the increase.What is obvious is that this buying did not come from U.S. investors. The demand for bitcoin is likely from Chinese or non-U.S. investors.While Coinbase is more …

Bitcoin managed to settle above the 20 EMA which is located near $44,000 and is trying to settle above the 50 EMA at $44,600. RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum.Bitcoin has reaped some gains after the comments by Fed …

Wall Street Stocks advanced on Friday, as equities try to regain after closing out volatile September in the red zone.The Dow rose and did better than compared to the other two major indexes, as shares of Merck jumped over positive data on its COVID-19 antiviral pill. Friday’s moves come following …

The USD 28.4 trillion debt limit was renewed on 1 August. By extraordinary measures, Treasury Secretary Janet Yellen has been able to take steps that allow the government to borrow additional funds without breaching the debt ceiling. Yellen warned lawmakers that if Congress fails to raise or suspend the debt …

China has ordered its top energy companies to secure winter supplies at all costs. The orders come with growing energy crisis in the country. The Chinese directive was issued during an emergency meeting presided by head of China’s energy section and industrial production Vice Premier Han Zheng.Zheng called all the …

U. S. ISM Manufacturing Employment Index is at a current level of 50.20, up from 49.00 last month and up from 49.60 one year ago. This is a change of 2.45% from last month and 1.21% from one year ago. The Institute for Supply Management (ISM) Manufacturing Index shows business …

Retreating oil prices impacted the Canadian stock futures on Friday, with investors awaiting GDP data for signals about the pace of the country’s economic recovery.Oil has fallen below $78 a barrel on the prospect that OPEC+ producers might step up a planned increase in global production to ease supply concerns.December …

Measurement of U.S. manufacturing witnessed expansion in September at the fastest pace in four months.The new data by The Institute for Supply Management’s gauge of factory activity rose to 61.1 from August’s 59.9, according to data released Friday. Readings above 50 indicate expansion. The median estimate in a Bloomberg survey …