Market Update

Consumer confidence in the United States declined during July, as shown by data released by the Conference Board on Tuesday. The Consumer Confidence Index decreased in July, after increasing in the previous month. The index reached 92.6 this month, down from 98.3 in June. In addition, the expectations index, based …

The Dollar Index (DXY), which measures the performance of the US Dollar (USD) against a basket of major international peers, declined on Monday, due to the rising number of COVID-19 cases in the United States. Meanwhile, the market is anticipating the Congress passing a new economic stimulus package, as well …

The New York Stock Exchange (NYSE) settled lower on the first session of the week, closing higher on Monday on the back of news about a new $1 trillion stimulus package to be soon approved by the US Congress. The Dow Jones Industrial Index rose by about 115 or 0.43%, …

Oil prices increased on Monday, recovering from losses earlier in the session, amid hoped for improved demand on the back of a new stimulus package, which is set to be approved by the US Congress soon. The West Texas Intermediate (WTI) futures for September delivery settled higher by 31 cents …

US Treasury yields increased on Monday, with more investors showing demand for safe havens, amid an anticipation for the next Federal Reserve meeting this week, in which maintaining interest rates at their current levels is highly expected. Yields on the 10-year bonds increased by 0.010 basis points (bps), while the …

European stocks settled lower on Monday, on the back of rising tensions between the US and China, as well as concerns regarding the COVID-19 pandemic, after the UK imposed a two-week quarantine on people returning from Spain, after an increase in the number of cases there. The Stoxx Europe 600 …

Gold prices rose on Monday to a new record high, with the US Dollar continuing to decline and demand for safe havens increasing amidst worries regarding the COVID-19 pandemic. Gold futures for August settled higher by $33.50 or 1.8% to settle at $1,931 per ounce, registering its second historic highest …

The Euro rose against the US Dollar on Monday, nearing a two-year high, with the US continuing to register an increasing number of COVID-19 cases. The market anticipates a second stimulus package that could be soon approved by Congress, as well as the upcoming Federal Reserve meeting this week. Meanwhile, …

“It is going to be almost impossible for individual countries to keep their borders shut for the foreseeable future. Economies have to open up, people have to work, trade has to resume,” the Director-General of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus, said on Monday. “Where these measures are …

The Federal Reserve Bank of Dallas manufacturing general business activity index improved in July to -3 from -6.1 in June. The company outlook index registered a second consecutive positive reading, increasing three points to 5.9. Meanwhile, the index measuring uncertainty regarding companies’ outlooks surged from 9.1 to 20.9. The Texas …