Market Update

President of the Federal Reserve Bank Dallas Robert Kaplan suggested on Tuesday that the Fed’s huge bond-buying program could be one of the reasons behind the recent trading frenzy by Reddit users in stocks such as GameStop, Reuters reported. “Some of the current situation you are seeing — one of …

The New York Stock Exchange (NYSE) opened higher Tuesday, supported by improved investors’ sentiment and large anticipation in Wall Street for the release of financial results by Amazon and Alphabet. In addition, the market remains supported by the prospects of increased government stimulus by the Biden administration. The Dow Jones …

Pfizer expects to generate about $ 15 billion in sales this year from the COVID-19 vaccine it developed with its German partner BioNTech. The company achieved sales of the vaccine valued at $ 154 million in the fourth quarter, and the company expects adjusted full-year earnings of $ 3.10 per …

The euro reached its lowest level in seven weeks against the US dollar, as fears of extending lockdown measures due to the outbreak of the Coronavirus pandemic led to a decline in sentiment towards the single currency. Data showed that retail sales in Germany, the largest economy in Europe, fell …

Data from the Turkish Ministry of Trade showed that the country’s trade deficit reached $ 3.075 billion in January, down about 32% from the same period a year ago, as exports reached an unprecedented peak in January. Exports rose to $ 15.048 billion in January, up 2.5% from a year …

The Eurozone economy contracted 0.7% on quarter in the three months to December of 2020, beating -1.2% expected, the first estimate showed on Tuesday. On an annualized basis, the bloc’s GDP dropped by 5.1% in Q4 vs. -4.3% seen in Q3 2020 while beating -4.3% expectations.

Oil prices rose by about 1%, after major crude producers showed that they were curbing supplies in nearly line with their commitments, to continue gains in a market confused by weak demand during the Coronavirus pandemic. Brent crude rose 48 cents, equivalent to 0.9%, to $ 56.83 a barrel, gaining …

European stocks rallied as investors hoped for a faster-moving economic recovery, while technology stocks led the gains after French information technology advisory group Atos ended talks on a possible acquisition of US rival DXC Technology. Atos shares gained 5% after the company said it decided not to continue talks about …

Russia’s production of oil and gas condensate increased to 10.16 million barrels per day in January from 10.04 million barrels per day in December, according to Reuters calculations based on an Interfax report that was based on data from the Energy Ministry. The news agency reported that production of oil …

Japanese stocks closed higher for the second session in a row, recovering from the heavy sales witnessed last week, as optimism about local and US corporate earnings grew, boosting sentiment. The Nikkei index rose 0.97% to 28,362.17 points, while stocks of consumer goods, materials and real estate industries led the …