Market Update

European stocks finished higher on Friday, supported by an improved investors’ sentiment due to positive economic data and earnings reports. The STOXX Europe 600 index rose by 0.9%, closing the week at a new record high of 444.93 points, as the tech sector gained 2.1%. For the week, the pan-European …

The number of active rigs drilling for crude oil and natural gas in the United States increase for the second consecutive week, according to data by Baker Hughes released on Friday. The total rig count rose by eight to 448 during the week ended May 7, reaching its highest level …

Economic activity in Canada continued to expand during April but a slower pace compared with its highest level in 10 years, which was recorded in March, data showed on Friday. The seasonally adjusted Ivey Purchasing Managers Index (PMI) retreated to a 60.6 in April from a reading of 72.9 in …

Wholesale inventories in the United States increased less than expected in March, due to a huge surge in sales that resulted from stronger local demand, according to official data released on Friday. A final reading showing that wholsale inventories rose by 1.3%, compared with an initially estimated 1.4% for March, …

Canada’s economy lost 207,000 jobs last month due to the resurgence of the Coronavirus pandemic, which led to renewed restrictions and lockdown measures, official data showed on Friday. Accordingly, the Canadian unemployment rate increased in April to 8.1% from 7.5% in March, according to Statistics Canada. Data showed that the …

Bank Of America’s analysis of weekly fund flow statistics showed that investors bought a lot of global stocks in the week ending Wednesday, as companies reported huge profits and major central banks downplayed concerns related to a return to monetary stimulus. Equity funds attracted $18.5 billion, which was mainly driven …

The dollar held on Friday, May 7, near its lowest level in a week, as it is under pressure ahead of the release of US jobs data, which is expected to boost hopes for a strong economic recovery after the pandemic and support investors’ appetite for risk. Against a basket …

Oil prices recovered after a 1% drop in the previous session, with the support of positive economic data from China and the United States, but the outbreak of the Covid-19 pandemic in India put pressure on prices. Brent crude futures for July delivery were at $68.40 a barrel, up 31 …

Japanese shares closed higher on Friday, May 7, as investors flocked to inexpensive technology shares, while gains were capped by concerns about a slow economic recovery amid extended emergency measures linked to COVID-19. The Nikkei index rose 0.09% to close at 29,357.82 points, while the broader Topix index rose 0.29% …

Reuters calculations based on data from Chinese customs found that China’s trade surplus with the United States amounted to $28.11 billion in April, up from $21.37 billion in March. In the first four months of 2021, China had a trade surplus of $100.68 billion with the United States.