Market Update

Saudi Aramco announced a 30% increase in net profits to 81.4 billion riyals (about $21.7 billion) in the first quarter of 2021, compared to the same quarter of the previous year, and analysts had expected a net profit of 19.48 billion dollars. In a statement on the Saudi Stock Exchange …

Oil prices plunged today, erasing gains made earlier in the session after more US states eased lockdown measures and the European Union sought to attract travelers, which helped offset concerns about fuel demand in India as the pace of Covid-19 infections accelerated. Prior to the opening of European indices, Brent …

The main indices of the New York Stock Exchange (NYSE) closed mostly higher on Monday, as Wall Street investors looked at recent economic data that suggested the manufacturing sector, as an indicator for the economy, continue to expand but at a slow pace due to supply chain challenges. The Dow …

Oil prices rose on Monday, amid signs of an improved demand outlook, despite the rising number of cases of the coronavirus, especially in India. Recent expectations of a strong recovery in the global demand for crude oil during the second half of the year continue to provide support for oil …

Gold prices rose on Monday after four consecutive declines, on the back of the U.S. Dollar’s (USD) decline and an improved demand for safe haven assets, as Treasury bond yields retreated. Gold futures for June delivery gained $24.10, or 1.4%, to close at $1,791.80 per ounce. This marked the highest …

European stocks opened the week with a positive performance, closing higher on Monday, supported by an improved investors’ sentiment as regulators plan to ease restrictions on travel as the coronavirus become more contained in the continent. Positive economic data and earnings reports also provided support to the market amid recovery …

Spending on construction projects in the United States increased in March but the increase came below market expectations, official data showed. U.S. construction spending increased by 0.2% in March to reach a seasonally adjusted annual rate of $1.51 trillion, according to data by the U.S. Department of Commerce released on …

The headline Canada Manufacturing Purchasing Managers’ Index (PMI) registered a seasonally adjusted reading of 57.2 in April, down from 58.5 in March. The reading signals the third-strongest growth in operating conditions on record, according to IHS Markit’s report released on Monday. “April data signaled another robust overall expansion in operating …

The manufacturing sector in the United States continued to expand but at a slower pace during April compared with the previous month, data showed on Monday. The manufacturing purchasing managers’ index (PMI) declined to 60.7 last month from a record high of 64.7 in March, according to the Institute for …

The New York Stock Exchange (NYSE) opened the first week of May on a positive note, after recording losses last week. Wall Street investors are expecting a rebound from the negative impacts of the Coronavirus pandemic, and optimistic about large listed companies and corporations achieving positive results. The Dow Jones …