Market Update

European stocks closed higher on Wednesday, with growing anticipation for the outcomes of the post-Brexit trade talks. The STOXX Europe 600 index finished up by 0.4%, supported by the gains of major market sectors. The UK’s FTSE100, the main index of the London Stock Exchange (LSE), edged up by 0.08%. …

Crude oil inventories in the United States surged last week, data by the Energy Information Administration (EIA) showed on Wednesday. Oil stockpiles went up by 15.2 million barrels in the week to December 4, reaching a total of 503.2 million barrels. This is the largest rise in crude oil inventories …

Wholesale inventories in the United States rose in October, according to data by the Department of Commerce release on Wednesday. Wholesale inventories rose by 1.1% in October, instead of an initially estimated 0.9%. On an annual basis, inventories decline by 2.2% in October 2020, compared with the same month of …

New job openings in the United increased during the month of October, as the American economy is recovering from the Coronavirus crisis, data showed on Wednesday. Job openings grew to 6.65 million by the end of October from 6.49 million in September, according to the US Department of Labor’s monthly …

The S&P 500 Index hit a record high moments after the opening Wednesday, amid demand for stocks sensitive to economic developments such as banks and industrial companies sparked hopes for a vaccine-fueled recovery and more US fiscal stimulus. The S&P 500 opened up 3.73 points, equivalent to 0.10%, to reach …

The Bank of Canada (BoC) maintained its target for the overnight rate at the effective lower bound of 0.25%, with the Bank Rate at 0.5% and the deposit rate at 0.25%.

China’s CPI fell in November for the first time in nearly a decade as food prices fell. The Chinese National Statistics Office said the Consumer Price Index, a gauge of inflation that measures the prices of a basket of consumer goods and services, fell 0.5% in November compared to a …

“The European Union wants to take away our control over our fishing waters,” British Prime Minister Boris Johnson said on Wednesday and reiterated that he cannot accept that demand. “The EU is insisting that if they pass a new law in the future then they want the automatic right to …

Russia’s Finance Minister Anton Siluanov said last week’s decision by the OPEC+ group to gradually increase oil production would help Russia implement its budget revenue plan and may also contribute to the growth of its sovereign wealth fund. The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC Russia agreed …

Markets are looking forward to Wednesday’s decision interest rates by bank of Canada, and it is widely expected that the Bank of Canada will leave the interest rate unchanged (0.25%). The bank may make some statements regarding the Canadian economy after Canadian data came in above expectations in terms of …