Market Update

European stocks held near their nine-month highs on Wednesday, November 25, as sentiment remained high, supported by an easing of restrictions linked to the Coronavirus in the region and growing hopes that a vaccine would soon be ready. The European Stoxx600 index rose 0.3%, as banking services stocks rose 1.6% …

Oil rose for the fourth session in a row on Wednesday, November 25, as the market ignored a report by the sector that showed that US crude stocks rose more than expected, continuing this rise supported by hopes that a vaccine for Covid-19 would support oil demand. By 0616 GMT, …

Treasury yields in the United States rose on Tuesday, due to increased risk appetite and an expected smooth transition in the White House. Return on the 10-year Treasury notes went up by 2.4 basis points to 0.881%. The 30-year bonds yield rose by 4.1 basis points to 1.603%. Meanwhile, the …

Oil prices continued to rally on Tuesday, achieving big gains to finish near its highest level since early March. Brent crude futures for January delivery surged by $1.80, or 3.9%, to close at $47.86 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery soared by $1.85, …

Gold prices continued to make big losses on Tuesday, for the second consecutive session, amid improved risk appetite and aversion from safe havens, on the back of positive news about Coronavirus vaccines. In addition, an expected smooth transition in the US administration from the incumbent president to the president-elect helped …

The US Dollar (USD) is declining across the board on Tuesday, on the back of higher risk appetite that comes supported by recent positive news about Coronavirus vaccines. The Dollar index (DXY), which measures the USD performance in front of a basket of six major international currencies, is down by …

European stocks closed Tuesday higher, supported by an improved risk appetite and positive news about Coronavirus vaccine candidates. The STOXX Europe 600 index rose by 0.83%, to finish at 392.05 points. The UK’s FTSE100 increased by 1.55%, while the German index DAX gained 1.26%. Meanwhile, the French index CAC40 settled …

The Dow Jones Industrial Average index surged on Tuesday, supported by gains by major stocks listed on the New York Stock Exchange (NYSE), or Wall Street, as well as the beginning of the transition from the Trump administration to that of President-elect Joe Biden. The index broke the 30,000-point mark …

The Conference Board’s index of consumer confidence in the United States declined to 96.1 in November, down from a revised reading of 101.4 in October, data showed on Tuesday. This comes as the rising number of new Coronavirus cases across the states pushed down consumer confidence. “Heading into 2021, consumers …

The Federal Reserve Bank of Richmond’s Manufacturing Index declined in November, data showed on Tuesday. The index dropped to 15 from a previous reading of 29 in October. However, the index remained firmly in expansionary territory, as all three component indexes — shipments, new orders, and employment — had positive …