Market Update

A report from the OPEC+ Joint Technical Committee reviewed by Reuters revealed concerns that uncertainty may affect the recovery of oil demand amid increasing global coronavirus infections and lockdown measures. The committee added in the report that despite the ongoing elimination of OECD commercial stocks, still above the 2015-2019 average, …

As more Americans are vaccinated and households and businesses from fiscal support, there are reasons to be optimistic about the U.S. economy President of the Federal Reserve Bank of New York, John Williams, said on Tuesday that he is optimistic for the United States economy as more people are vaccinated …

he New York Stock Exchange (NYSE) closed Tuesday with relatively small losses, as Wall Street investors were impacted by the tech sector losses that resulted from a surge in Treasury bond yields to their highest level in about 14 months. The Dow Jones Industrial Average declined by 104.41 points, or …

Oil prices declined on Tuesday, after the reopening of the Suez Canal limited concerns about supply flows. In addition, the surge by the U.S. Dollar (USD) weighed on crude prices, ahead of the OPEC+ meetings, which will decide whether major producers will extend their output curbs during May or not. …

Gold futures declined on Tuesday for the second consecutive session, amid a strong rise by the U.S. Dollar (USD) and Treasury bond yields. The yellow metal most actives contracts closed at their lowest level in nearly three weeks, breaking the $1,700 support level. Gold futures for April delivery finished lower …

European stocks closed higher on Tuesday, amid hopes for economic recovery from the impact of the Coronavirus pandemic with the rollout of vaccines. The STOXX Europe 600 index rose by 0.81% to close at 431.06 points, nearing its all-time record high of nearly 434 points, supported by the auto sector …

President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Tuesday that he expects millions of Americans will be rehired in the next summer as the economy recovers from the negative impact of the Coronavirus pandemic. “We could see a burst of activity and performance coming into the …

The U.S. Dollar (USD) is rising on Tuesday, supported by the increase in Treasury bond yields. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.37% at 93.29. The index has been moving today in a range between 92.88 …

The producer price index (PPI) in Brazil increased last month to its highest level on record, as the biggest economy in Latin America continues to struggle with the impact of the Coronavirus pandemic. Producer prices rose by 5.2% on a monthly basis and by 28.6% on an annual basis, reaching …

The main indices of the New York Stock Exchange (NYSE) opened lower on Tuesday, amid a surge in the U.S. Treasury bond yields. The Dow Jones Industrial Average is down by 75.32 points, or 0.23%, at 33,096.05 points. The S&P 500 index declined by 12.44 points, or 0.31%, at 3,958.65 …