Market Update

The Chicago Business Barometer Index surged in May to reach a reading of 75.2 from a level of 72.1 in April, data showed on Friday. The Purchasing Manager Index (PMI) reached its highest level since 1973, according to ISM-Chicago. Robust demand helped boost the business activity, with the new orders …

The US Bureau of Economic Analysis (BEA) reported on Friday that Personal Income contracted by 13.1% in April. This reading came in slightly better than the market expectation for a decline of 14.1%.

Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 0.6% on a monthly basis in April. This reading came in higher than the market forecast of 0.2%. On a yearly basis, the PCE Price Index rose to 3.6% from 2.4%, compared to …

Oil prices rose on Friday, May 28, and Brent crude remained intact near the level of $ 70 a barrel, as positive US economic data and expectations of a recovery in global demand overshadowed concerns about an increase in supplies from Iran when sanctions are lifted. Brent rose 24 cents, …

Bitcoin fell on Friday May 28 to its lowest level this week, pushing losses from a growing campaign against it in China and environmental concerns to nearly 40% since the start of the month. The largest cryptocurrency added to its previous losses, dropping 8.2% to $ 35,339, as it remained …

Data on Friday, May 28, showed economic sentiment in the eurozone improved more than expected, hitting a three-year high in May, with the biggest increases in the services, retail, and consumer sectors as governments eased pandemic-related restrictions. The European Commission’s index of economic sentiment rose to 114.5 in May from …

European markets rose to record levels as global stocks were affected by strong economic data out of the US this week. The pan-European Stoxx600 index rose 0.4% in early trading, surpassing its record high on Thursday, and insurance stocks rose 1.2% to lead the gains as all sectors except the …

The Turkish lira rose more than 1% on Wednesday, March 24, to offset some of the losses it incurred after President Recep Tayyip Erdogan’s surprise decision at the weekend to change the central bank governor to the last opponent of tightening fiscal policy. The lira reached 7.8650 dollars against the …

Gold prices fell on Friday, May 28th, as the dollar and US Treasury yields rose, while investors awaited the release of personal consumption data in the United States later in the day for indications of inflationary pressures. Gold fell in spot transactions 0.2% to $ 1891.45 an ounce. The metal …

Japanese stocks closed higher on Friday, May 28, as investors flocked to stocks linked to the wave of selling launched in the previous session by an adjustment by MSCI, while progress in the launch of vaccines raised risk appetite in hopes of a rapid economic recovery. The Nikkei index rose …