Market Update

Bitcoin continued to decline on Tuesday, amid concerns that the digital currency has become overpriced following recent surges that were supported by increased institutional demand. In addition, recent remarks by billionaire Elon Musk suggested that the price of both Bitcoin and Ethereum does seem high increased selling pressure on the …

The New York Stock Exchange (NYSE) closed mostly higher on Tuesday, showing a positive performance that was supported by economic data and remarks by the Federal Reserve Chair Jerome Powell. The Dow Jones Industrial Average finished marginally higher by 15.66 points, or 0.05%, at 31,537.35 points, after falling by 1.2% …

The United States Treasury yields showed a mixed performance on Tuesday, following the testimony of the Federal Reserve Chairman Jerome Powell to the Senate. Return on the 10-year Treasury bond declined by 0.7 basis point to 1.363%, giving up its earlier gains as it reached 1.39%. The 30-year bond yield …

Oil prices showed a mixed performance on Tuesday, as the market is anticipating the decision of the OPEC+ alliance regarding output policy next month. Brent continued to rise, reaching its highest level in 13 months, while the U.S. benchmark most active contracts gave up earlier gains and closed lower with …

Gold prices declined on Tuesday, returning to the downward trend amid a rise in Treasury yields, and after remarks by the United States Federal Reserve Chairman Jerome Powell to Congress. The yellow metal was able to finish the session with recovery from some of its earlier losses, as Powell played …

The U.S. Dollar (USD) showed a mixed performance on Tuesday after data showed a rise in the housing price index and an improvement in consumer confidence. In addition, Federal Reserve Chair Jerome Powell told the Senate that economic recovery will take some time before achieving substantial progress towards policy goals …

European stocks declined on Tuesday, as markets continue to be affected by the rise in Treasury yields, amid a negative performance by tech stocks. The STOXX Europe 600 index fell by 0.52%, with the technology sector leading the losses and dropping by 1.8%. The German DAX index finished lower by …

Manufacturing activity in the United States continued to improve in February, as the economy recovers from the negative impacts of the Coronavirus pandemic. The composite manufacturing index of the Federal Reserve Bank of Richmond remained stable at 14 in February, maintaining its January reading, data showed on Tuesday. The three …

Consumer confidence in the United States improved in February, reaching its highest level in three months, as the American economy is recovering from the impacts of the Coronavirus pandemic. However, confidence remained well below its pre-pandemic levels, data by the Conference Board showed on Tuesday. The consumer sentiment index rose …

The United States Redbook Index improved in February, signaling an improvement in the retail sector as the economy recovers from the impact of the Coronavirus pandemic. The Johnson Redbook Index recorded -0.8% this month, compared with -0.9% in January, according to data by Redbook Research on Tuesday. The index, which …