Market Update

European stocks closed higher on Thursday, supported by the gains of the construction and commodity sectors. In addition, global markets were affirmed by the confirmation of the election of Joe Biden to be the next President of the United States, after riots erupted in Washington D.C. on Wednesday causing concerns …

Goldman Sachs expects new government stimulus spending in the United States at around $750 billion during the first quarter (Q1) of 2021, after Democrats gained a majority in the U.S. Senate after winning the Georgia elections. This means that the Democratic Party will be in control of both the White …

Social media platforms, Facebook and Instagram, will impose a suspension on the official accounts of the President of the United States, Donald Trump, for at least two weeks, until the end of his presidency term, the CEO of Facebook Inc. Mark Zuckerberg revealed. This comes after Facebook and Instagram, as …

The President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said on Thursday that he expects the United States Federal Reserve to continue with its bond buying activity at least until the end of 2021, Reuters reported. The continuity of asset purchases at the current pace depend on the …

The activity of the services sector in the United States expanded in December, data showed on Thursday. The non-manufacturing activity index registered 57.2 in December, up from a reading of 55.9 in November, according to the Institute for Supply Management (ISM). The index came very close to its level prior …

The European Central Bank said in a periodic economic bulletin that economic indicators for the eurozone indicate that the economy will contract in the last quarter of 2020. “Survey indicators point to a renewed contraction in an activity primarily affecting the services sector.” “Financial conditions in the euro area have …

Planned job cuts in the US-based employers rose to 77,030 in December from 64,797 in November, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday.

The dollar rose on Thursday, January 7, hovering above its lowest level in nearly three years, after the Democrats won control of the US Senate, paving the way for a possible greater fiscal stimulus under President-elect Joe Biden. Currency markets were not affected much by the scenes of chaos in …

According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at -0.3% in December, missing expectations of -0.2% and -0.3% previous. The core figures came in at 0.2% in the reported month when compared to 0.2% expectations and 0.2% seen in November.

The Turkish lira rose about 1% Thursday, January 7, reaching its strongest level since August 21, as the US dollar retreated to levels not seen in nearly three years. The lira, which lost about 20% of its value last year, was at 7.25 against the dollar, up from its close …