Market Update

Sales of new U.S. single-family homes increased for a second straight month in August, but demand for housing has probably peaked after a COVID-19 pandemic-fueled temporary buying frenzy.Sales increased in August even as sales of existing homes fell. It could be a sign that buyers are turning to newly constructed …

Stocks declined and gains stopped after equities’ best day since July, with some volatility returning to markets as regulators’ concerns rose in China at least temporarily counterbalance optimism over the U.S. economic recovery.The S&P 500 Index fluctuated between small gains and losses. A day earlier, stocks posted a back-to-back session …

Federal Reserve Chair Jerome Powell said the U.S. economy is experiencing “fundamental shifts” as people and businesses pivot to “meet the demands of a new reality.”Powell made the remarks Friday in a brief opening statement to a Fed Listens event. He didn’t comment on monetary policy or the economic outlook …

Federal Reserve Chairman Jerome Powell views the pandemic-induced recession as one of the sharpest and shortest downturns in history. Powell also indicated that the subsequent recovery is unprecedented.Speaking to representatives from a range of sectors, Powell acknowledged the various disruptions that COVID-19 has caused for businesses over the past 18 …

The 10-year Treasury yield have touched 1.45% on Friday to hit its highest level since July as investors continued to react to the Federal Reserve’s policy two days ago. Bond investors were particularly interested in the signal by the central bank that the tapering of $120 billion of monthly bond …

Kansas City Fed President Esther George said that the U.S. job market has already met the Federal Reserve’s benchmark test sufficiently to decrease its monthly bond purchasesزGeorge mentioned that the central bank should now turn to discussion of how its massive bondholdings may add complication to its eventual decision about …

The U. S. dollar was on track for its biggest daily percentage gain against a basket of major currencies in a week during Friday’s sessions.Uncertainty over stressed Chinese Evergrande Group helped the USD bounce back from a sharp decline in the prior session. Evergrande owes $305 billion but has run …

https://youtu.be/kB3vK5-Dzlw

Experts at Citibank said Friday that the Chinese real estate market is expected to witness a strong downturn, regardless of what happens in the crisis of Evergrande, one of the largest real estate developers in China. Experts at Citibank added that the real estate sector will face downward pressure, despite …

Gold compensated some of its losses after declining 1% in the previous session, supported by the weakness of the dollar and the return of concerns about the fate of the Chinese company Evergrande to the fore, which strengthened the position of the yellow metal as a safe haven. And gold …