Market Update

European stocks rallied Friday (February 5th), tracking optimistic sentiment on Wall Street thanks to hopes for a faster global economic recovery, while stocks in Frankfurt lagged in performance after data showed a decline in industrial orders. The European Stoxx600 index gained 0.2% and is on track to post its longest …

Data revealed that German factory orders decreased more than expected on a monthly basis in December, as the impact of restrictions imposed to combat the Coronavirus reduced demand from the rest of the euro area. The data published by the Federal Statistics Office showed that orders for the supply of …

Fringe cryptocurrency Dogecoin surged on Thursday, following a number of Tweets from famous billionaire and CEO of Tesla and SpaceX Elon Musk. Musk is famous for his social media presence, which often causes some sort of controversy. Mark Cuban, another famous billionaire investor has also recently tweeted about the digital …

The New York Stock Exchange (NYSE) maintained its positive performance on Thursday, supported by positive financial results disclosed by a number of leading listed companies, as well as a positive sentiment in Wall Street regarding economic recovery from the Coronavirus pandemic. The Dow Jones Industrial Average gained 332.2 points, or …

Oil prices maintained their rising trend and ended Thursday at a fresh highest level in about a year, supported by the commitment of the OPEC+ alliance to output cuts and the prospects of economic recovery and increased government stimulus in the United States. Brent crude futures for April delivery gained …

Gold prices plunged on Thursday, on the back of the U.S. Dollar (USD) gaining momentum and rising across the board after data showed a decline in jobless claims in the United States, indicating an improvement in economic recovery from the Coronavirus pandemic. In addition, the rising U.S. Treasury yields pressured …

The U.S. Dollar (USD) rose on Thursday across the board, following the Bank of England (BoE) first policy meeting of the year, in which it indicated no plans to set negative interest rates during the next six months. The Dollar Index (DXY), which measures the greenback’s performance against a basket …

European stocks closed Thursday on a mixed note, amid anticipation for the developments of the Coronavirus pandemic across the continent. The STOXX Europe 600 index rose by 0.5%, with the banking sector leading the gains and adding 2.7%. The French index CAC40 finished higher by 0.82%, while the German index …

Natural gas inventories in the United States decreased by 192 Bcf during the week ending on January 29, according to data by the U.S. Energy Information Administration (EIA). Working natural gas in storage stood at 2,689 Bcf as of last Friday. This represents an increase of 41 Bcf compared with …

Factory orders in the United States increased for the eighth consecutive month during December, rising by 1.1%, following a 1.3% rise in November, data by the U.S. Department of Commerce showed on Thursday. Factory shipments grew by 1.7% in December and unfilled orders declined by 0.3%. Orders for durable goods …