Market Update

The New York Stock Exchange (NYSE) closed lower on Tuesday, after two consecutive rises, amid concerns about the rising number of COVID-19 cases and ahead of the first of three presidential debates. Three debates between incumbent President Donald Trump and the Democratic Party nominee Joe Biden will be held before …

After rising for the first session of the week, oil prices returned to losses on Tuesday. The Brent crude futures for November delivery dropped by $1.40, or 3.3%, and closed at $41.03 per barrel. Meanwhile, the US West Texas Intermediate (WTI) crude futures for November delivery closed lower by $1.31, …

Gold prices increased on Tuesday for the second consecutive session, restoring the $1,900 per ounce mark. The yellow metal gains were supported by the US Dollar (USD) decline. Gold futures for December delivery gained $20, or 1.1%, and settled at the level of $1,903.20 per ounce.

President of the Federal Reserve Bank of New York, John Williams, said on Tuesday that recovery from the Coronavirus (COVID-19) crisis has been better than expected, expecting the economy to return to its pre-pandemic levels in about three years. “We want to get back to maximum employment as soon as …

The United States Federal Reserve needs to maintain interest close to 0% until economic recovery is achieved, which is expected by the end of 2022 or in 2023, according to the President of the Federal Reserve Bank of Dallas, Robert Kaplan. “I believe there are real costs to keeping rates …

European stocks closed lower on Tuesday amid increasing concerns for the rising number of COVID-19 cases in many countries across the continent. The STOXX Europe 600 index closed lower by 0.46%, while the UK’s FTSE100 index fell by 0.51%. Meanwhile, the German DAX index declined by 0.35% and the French …

President of the Federal Reserve Bank of New York, John Williams, stressed in his speech on Tuesday the need to focus on the reasons behind economic volatility in the face of the COVID-19 crisis. “We need to understand how changes in the market ecosystem, whether due to regulation, technology, or …

The Bank of England is realistic in facing the current circumstances, seeing the challenges coming with negative interest rates without ruling them out as an option to help the British economy in the face of the COVID-19 crisis, the Governor of the Bank of England, Andrew Bailey, said on Tuesday. …

The Conference Board Consumer Confidence Index increased in September, after declining in August. The US index reached 101.8, up from 86.3 in August. The Present Situation Index increased from 85.8 to 98.5, while the Expectations Index increased from 86.6 in August to 104.0 this month. “Consumer Confidence increased sharply in …

Consumer confidence in the US improved sharply in September with the Conference Board’s Consumer Confidence Index rising to 101.8, the highest reading since March, from 86.3 in August (revised from 84.8). This Further details showed that the Consumer President Situation Index climbed to 98.5 from 85.8, the Consumer Expectations Index …