Market Update

Oil prices rose on Monday, rebounding from recent losses, on 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 game. Brent …

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 …

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. …

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% …

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 …

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 …

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 …

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.

Stock futures rose in early morning trading Monday ahead of a short week of trading due to the holiday, a historically strong seasonal period on Wall Street. Futures on the Dow Jones Industrial Average rose 101 points. The futures contracts for the S&P 500 and Nasdaq 100 index were also …

Stock futures rose in early morning trading Monday ahead of a short week of trading due to the holiday, a historically strong seasonal period on Wall Street. Futures on the Dow Jones Industrial Average rose 101 points. The futures contracts for the S&P 500 and Nasdaq 100 were also trading …