Market Update

Crude oil prices reversed course after an early recovery, as concerns about coronavirus restrictions combined with slowing factory activities in key markets weighed on sentiment. Brent crude futures were down 26 cents, or 0.4%, at $72.63 a barrel by 0645 GMT. US West Texas Intermediate crude fell 16 cents, or …

Japan’s Nikkei index closed lower on Tuesday, as rising COVID-19 cases pressured sentiment, while video-game companies slashed after Chinese media described online games as “spiritual opium”. The Nikkei fell 0.5%, while video-game production company Nixon plunged 6.51%. The rest of the game makers’ shares also pushed the index lower. DNA …

France’s Societe Generale reported a net income of 1.44 billion euros (about $1.71 billion) for the second quarter of the year, buoyed by a recovery in retail banking in France. Analysts had expected a net profit of 704 million euros for the three-month period, according to Refinitiv data. The latest …

Italy posted a public budget surplus of 5.7 billion euros ($6.77 billion) in July, compared to a deficit of 7.2 billion euros in the same month last year, the Treasury said in a statement on Monday. This difference is mainly due to an increase in tax revenue. The Treasury said …

Gold prices fell, moving in a narrow range, as investors held off making big bets focusing on important US jobs data due later in the week, a key indicator of the US Federal Reserve’s stance on policies ahead. And gold fell in spot transactions 0.1 percent to $ 1810.92 an …

The United States Federal Reserve might begin cutting back the massive asset purchases as early as October, Governor Christopher Waller told CNBC in an interview on Monday. “In my opinion, that’s substantial progress and I think you could be ready to do an announcement in September.” Waller thinks it all …

One out of every three new cases infected with the novel coronavirus (COVID-19) in the United States were in Florida and Texas last week, according to a Biden administration counselor. Jeff Zients, White House Coronavirus Response Coordinator, told reporters in a press briefing on Monday that 17% of cases were …

The New York Stock Exchange (NYSE) finished Monday mostly in losses, erasing earlier gains amid worries about recovery from the coronavirus pandemic, with the rising number of infections with the new Delta variant, especially after the PMI showed slower expansion in U.S. economic activity last month. The Dow Jones Industrial …

Oil prices closed lower on Monday, amid increased concerns about the pace of economic recovery from the coronavirus pandemic with the rising number of infections with the new Delta variant, especially after indicators showed slower growth in activity in the U.S. and China last month. PMI readings in the world’s …

Gold prices finished higher on Monday as the U.S. Dollar (USD) declined across the board with Treasury bond yields falling to their lowest level in about six months. The yellow metal remains supported by the mixed economic data are concerns over the spread of the novel coronavirus Delta variant. Gold …