Market Update

There were 385,000 initial claims for unemployment benefits in the US during the week ending May 29, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in better than the market expectation of 395,000 and followed the previous print of 405,000 (revised from …

Planned job cuts in the US-based employers rose to 24,586 in May from 22,913 in April, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday.

The dollar rose today as traders awaited a batch of US economic data that may determine the direction at the central bank meetings later this month. Investors are betting that the dollar will fall as the world recovers from the Covid-19 pandemic, but they have recently become concerned about whether …

Employment in the US’ private sector increased by 978,000 in May, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Thursday. This reading followed April’s print of 654,000 (revised from 742,000) and came in better than the market expectation of 650,000.

British Health Minister Matt Hancock said Wednesday, June 2 that his country is in talks with Oxford and AstraZeneca to obtain additional doses of their vaccine against the Corona virus, which has been modified to better target the (beta) strain of the emerging corona virus that first appeared in South …

The head of China National Pharmaceutical Group Sinopharm said Wednesday, June 2, that the company is able to provide more than one billion doses of the protective vaccine against the Coronavirus to the rest of the world during the second half of this year. This level of supply capacity indicates …

European shares fell today after hitting unprecedented high levels earlier in the week, as investors’ eyes are turning to US and European economic data to derive indications about the direction of monetary policy in the future. The pan-European Stoxx 600 index fell 0.1%, in line with the cautious moves of …

Japanese shares closed higher on Thursday, as the broad Topix index hit its highest level in more than six weeks as the country’s vaccination campaign increased activity, raising hopes that the economy will recover from pandemic-related restrictions. The Nikkei index rose 0.39% to 29,058.11 points, while the broader Topix index …

Dogecoin surged on Wednesday after media reports indicated that Coinbase will allow, through its own platform, trading the meme-based cryptocurrency units. Coinbase reportedly announced yesterday that accepting inbound transfers of Dogecoin Coinbase Pro, according to Reuters. Dogecoin surged by more than 30% to exceed $0.41. The world’s sixth largest cryptocurrency, in …

The main indices of the New York Stock Exchange (NYSE) finished higher on Wednesday, supported by positive expectations for economic recovery that led to an improved risk appetite and sentiment among Wall Street investors. Earlier today, the U.S. Federal Reserve’s Beige Book report showed that the economy expanded better than …