Market Update

The New York Stock Exchange (NYSE) closed modestly higher on Tuesday, with the technology stocks leading the gains in Wall Street and investors awaiting economic data, especially the upcoming jobs report, to asses the possible impact on monetary policy and interest rates. The S&P 500 and the Nasdaq Composite continued …

Oil prices fluctuated on Tuesday, recovering from losses before giving up some of its daily gains, but managed to close higher with markets anticipating the coming OPEC+ decision on production policy. Concerns over the rising number of coronavirus (COVID-19) cases in a number of countries continue to limit the effect …

Gold prices finished lower on Tuesday, as the U.S Dollar (USD) and Treasury bond yields rebounded from recent declines. However, the yellow metal was able to recover from session lows but still closed at its lowest level since April 14. Front Month Gold futures for July delivery lost $17, or …

European stocks closed higher on Tuesday after data showed economic sentiment in the Eurozone rose to its highest level in about 21 years. The pan-European STOXX 600 index gained 0.31% to close at 456.37 points. The blue-chip EURO STOXX 50 index added 0.43% to finish at 4,107.51 points. The French …

Moderna said that its coronavirus (COVID-19) vaccine is showing promising results against the Delta variant. Tests reportedly showed the vaccine led to an antibody response against all the studies variants, the company announced on Tuesday. The Delta variant was first discovered in India and appeared in many countries, leading to …

U.S. consumer confidence improved this month, reaching a new fresh high since the beginning of the pandemic, data showed on Tuesday. The Consumer Confidence index rose to 127.3 from a revised reading of 120 in May, according to the Conference Board. More consumers are showing upbeat expectations for economic recovery …

The Housing Price Index released by the US Federal Housing Finance Agency (FHFA) rose by 1.8% on a monthly basis in April following March’s increase of 1.6%. Meanwhile, the annual S&P/Case-Shiller Home Price Indices arrived at 14.9% in February and surpassed the market expectation of 14.5%.

Inflation in Germany, as measured by the Consumer Price Index (CPI), edged lower to 0.4% (preliminary) on a monthly basis in June from 0.5% in May, the data published by Destatist showed on Tuesday. On a yearly basis, the CPI declined to 2.3% from 2.5%. Both of these readings came …

The dollar rose on Tuesday, June 29, approaching a two-month high against major currencies, with many traders largely reluctant to bet before an important US jobs report could change the timing of the Federal Reserve’s halt to stimulus programs. The dollar index, which tracks the dollar’s movement against six major …

Gold prices fell on Tuesday, June 29, hovering near the lowest level in a week, which it reached in the previous session, as it was pressured by the rise of the dollar and fears that the US Federal Reserve will tighten its monetary policy earlier than expected. Spot gold fell …