Market Update

Japanese stocks made slight gains today, Wednesday, to record up for the fifth consecutive day, but lacked momentum in light of the uncertainty surrounding the global inflation situation and the local cases of coronavirus, which discourages investors from testing major resistance levels on the upside. The Nikkei index rose 0.31% …

The New York Stock Exchange (NYSE) finished lower on Tuesday, as negative economic data reflected negatively on the risk sentiment among Wall Street investors. In addition, reflation fears and expectations about possible monetary policy changes by the United States Federal Reserve also affected the market. The Dow Jones Industrial Average …

Oil prices continued to rise on Tuesday, but gains were limited due to concerns about a possible rise in global output as media reports point to developments in restoring the Iran nuclear deal. However, markets continue to show optimism about demand recovery during the second half of the year, amid …

Gold prices rose on Tuesday, supported by the decline of the U.S. Dollar (USD) against major currencies, and with stock markets showing a mixed performance. In addition, a slight decline in U.S. consumer confidence provides support for safe haven assets, including the yellow metal. Gold futures for June delivery increased …

House prices in the United States rose by 12.6% in the first quarter (Q1) of 2021, compared with the Q1 of 2020, data showed on Tuesday. The Federal Housing Finance Agency (FHFA) House Price Index (HPI) rose by 3.5% compared to Q4 of 2020. Meanwhile, FHFA’s seasonally adjusted monthly index …

The U.S. consumer confidence held steady in May, after rising in April, data by the Conference Board showed on Tuesday. The Consumer Confidence Index reached 117.2, compared with 117.5 in April. Meanwhile, the Present Situation Index rose from 131.9 to 144.3. As for the Expectations Index, it registered a decline …

European stocks showed a mixed performance on Tuesday, with markets yet to fully recover from reflation fears. The STOXX Europe 600 index closed marginally higher by about 0.03%, near its record high, as the technology sector surged by 1.3%, while the mining sector plunged by about 1.8%. The French CAC40 …

The Federal Reserve Bank of Richmond’s manufacturing index rose in May, according to the most recent survey results released on Tuesday. The fifth district manufacturing activity composite index rose to 18 from 17 in April. The component indexes, namely: shipments, new orders, and employment, reflected growth. “A majority of firms …

New home sales in the United States declined during April, dropping by 5.9% to a seasonally adjusted annual rate of 863,000 units, official data showed on Tuesday. Meanwhile, the reading of March was revised downwards to 917,000 units from the initially estimated 1.021 million units, according to the U.S. Department …

The headline Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey improved to 36.9 in May from 36.3 in April.