Market Update

The Saudi Crown Prince Mohammed bin Salman, in televised remarks on Tuesday, that the kingdom is in discussions to sell one percent of Saudi Aramco to a global energy company. Prince Mohammed added that Aramco, the world’s largest oil company that was listed on the Saudi Stock Exchange in 2019, …

The dollar rose slightly on Wednesday as all eyes turned to the US Federal Reserve’s policy statement and a speech by President Joe Biden later on Wednesday regarding trends in hopes that this will increase the scope for the currency’s recovery after a month of decline. The dollar index recorded …

Gold prices fell to their lowest level in a week on Wednesday, April 28, with US Treasury yields rising ahead of the US Federal Reserve’s monetary policy statement due for release later today. And the price of gold in the spot market fell 0.5% to $1767.66 an ounce after it …

Deutsche Bank announced a profit of 908 million euros, equivalent to about $ 1.1 billion in Q1, supported by continued strong performance in the investment banking sector. The bank largely exceeded analysts’ forecasts for a net income of 642.95 million euros, according to Refinitiv, and showed a marked improvement from …

Japanese stocks closed slightly higher on Wednesday, April 28, led by technology stocks, but concerns about corporate expectations limited the gains, even as investors awaited a decision from the US Federal Reserve. The Nikkei index rose 0.21% to close at 2,9053.97 points, while the broader TOPIX index increased 0.29% to …

The New York Stock Exchange (NYSE) closed mostly lower on Tuesday, following a surge by two major indices, namely the S&P 500 and Nasdaq Composite, to new record closing highs. The Dow Jones Industrial Average closed marginally higher by 3.36 points, or 0.01%, at 33,984.93 points. The S&P 500 index, …

Treasury bond yields in the United States rose on Tuesday to their highest level in about two weeks, amid anticipation for the outcomes of the Federal Reserve meeting. It is expected that U.S. monetary policymakers will maintain the current policy and signal a commitment to the current interest rates and …

Oil prices rose on Tuesday to close at their highest level in about a week, following a decision by the Organization of the Petroleum Exporting Countries (OPEC) and its allies to extend its production policy. In an early meeting, held ahead of schedule, which surprised the market, the OPEC+ alliance …

Gold prices finished lower on Tuesday, amid anticipation for the outcomes of the Federal Reserve policy meeting. Positive performance by the U.S. Dollar (USD), supported by a surge in consumer confidence to a 14-month high, led to lower demand for safe-havens. Gold futures for June delivery closed lower by $1.30, …

Ethereum surged on Tuesday to a new record high near $2,684. The second-biggest cryptocurrency in the world, after Bitcoin, is now up by around 7.3% on a daily basis at 2,645, extending its gains over the past seven days to about 14.10%. Recent news suggested that JPMorgan Chase plans to launch …