Market Update

Oil prices fell on Wednesday, due to fears that the continued decline in fuel demand in light of the high cases of Coronavirus in Europe and the United States, the largest consumer of crude in the world, may impede economic growth. The monthly report of the Organization of Petroleum Exporting …

The New York Stock Exchange (NYSE) closed lower on Tuesday, amid worries for the second wave of the Coronavirus (COVID-19) pandemic and the effectiveness of its new remedies. The Dow Jones Industrial Average lost 157.7 points, or 0.55%, to close at 28,679.81 points. S&P 500 lost 22.3 points, or 0.63%, …

Treasury yields in the United States declined on Tuesday, amid increased demand due to concerns about COVID-19 and the effectiveness of its new remedies. Return on the 10-year Treasury notes decreased by 4.9 basis points to 0.726%. This is the biggest decline in the benchmark treasury yield since June 11. …

Oil prices finished higher on Tuesday supported by an increase in Chinese imports last month, which helped improve the outlook for global demand recovery. Brent crude futures for December delivery rose by 73 cents, or 1.8%, to settle at $42.45 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures …

Gold prices declined on Tuesday, as the US Dollar rose across the board, making its first daily decline in four sessions. Gold futures for December delivery decreased by $34.30, or 1.8%, to close at $1,894.60 per ounce. The Dollar index (DXY) is up by 0.51% at 93.54.

McAfee Corp, a company specialized in antivirus and cybersecurity solutions is planning to raise up to $814 million through an initial public offering (IPO) in the United States, Reuters reported. Around 31 million shares are expected to be sold, while the selling stockholders are set to offer about 6 million …

The British Pound (GBP) declined against the US Dollar (USD) on Tuesday, following four consecutive rises, as the USD rose supported by inflation data, while the GBP remains impacted by Brexit trade talks uncertainty. The GBP/USD is down by 0.82% for the day at 1.2957. The pair has been moving …

European stocks closed lower on Tuesday, following the beginning of the earning reports season in Wall Street, and amid uncertainty surrounding the second wave of the Coronavirus (COVID-19) pandemic. The STOXX Europe 600 index closed lower by 0.7%, while the UK’s FTSE100 maintained losses and declined by 0.53%. Meanwhile, the …

A report by the International Monetary Fund (IMF) revealed on Tuesday that the outlook for developed economies is better than previously expected, due to the recovery from the impacts of the COVID-19 pandemic, while emerging markets are expected to face some hardships. The latest World Economic Outlook expects a global …

The US Dollar (USD) rose on Tuesday, as data showed an increase in consumer prices but at a slow pace. The Dollar index (DXY), which measures the performance of the USD against a basket of six international currencies, is up by around 0.50% for the day, at 93.51. The index …