Market Update

Japanese stocks recovered today thanks to cyclical stocks, with renewed hopes for a quick economic recovery, while Yaskawa Electric shares jumped after raising expectations for annual profits. The Nikkei index rose 2.25% to close at 28569.02 points, while the broader Topix index advanced 2.14% to 1953.33 points. The two indices …

The main indices of the New York Stock Exchange (NYSE) rebounded on Friday, turning to a third consecutive weekly rise after recent declines, which were mostly due to concerns among Wall Street investors about recovery from the pandemic and the mixed economic data. The Dow Jones Industrial Average gained 448.23 …

The U.S. Dollar (USD) declined on Friday, finishing holiday-shortened the week in losses, amid rising concerns about economic recovery and the resurgence of the coronavirus pandemic with new variants. Mixed economic data also increased worries about the pace of recovery. The Dollar Index (DXY) that measures the greenback against a …

Oil prices continued to rise on Friday for the second consecutive session, as the recent drop in U.S. crude inventories provided support to the outlook despite uncertainty about the OPEC+ agreement, but couldn’t recover all of its weekly losses. Brent Crude futures for September delivery rose $1.43, or 1.93%, to …

Gold prices rose on Friday to maintain its rising trend for the third consecutive week, amid increased demand for safe havens due to concerns about the economic recovery. A decline by the U.S. Dollar (USD) across the board also provided support to the yellow metal amid a decline in the …

European stocks rebounded on Friday, recovering from their recent losses that resulted from fears regarding economic recovery, amid an improvement in the risk sentiment among investors. The STOXX Europe 600 index gained 6.06 points, or 1.34%, to close at 457.67 points. This marked the biggest index for the pan-European index …

Wholesale inventories in the United States increased by 1.3% during May, with businesses trying to keep up with the rising demand amid recovery from the pandemic, data showed on Friday. Meanwhile, wholesale sales grew by 0.8% compared with the previous month, and by 37% on an annual basis. Durable goods …

The movement of the US dollar stabilized against other major currencies, during trading at the end of the week on Friday. Thus, the DXY dollar index is trading above 92.00 points for the second week in a row, with the current week ending slightly lower compared to last week. The …

US Treasury yields rebounded on Friday, easing some concerns about the global economic slowdown caused in part by a sudden drop in yields in recent months, and the yield on the benchmark 10-year Treasury bond rose 5 basis points to 1.336%, and the yield on the Treasury bond rose by …

The European Central Bank (ECB) released the accounts of its June monetary policy meeting on Friday, with the key highlights found below, per Reuters. Concerns expressed that any change in net purchases not based on improvement in inflation outlook would lead to unwarranted tightening of financial conditions.Financing conditions were assessed …