Market Update

The New York Stock Exchange (NYSE) closed higher on Friday, despite uncertainties about the rising number of COVID-19 cases and concerns regarding a second wave of the pandemic. The Dow Jones Industrial Average rose by 358.5 points, or 1.34%, and closed at 27,173.96 points, but declined by 1.8% for the …

Oil prices declined on Friday, amid concerns about the rising number of COVID-19 cases spurring a negative outlook the global demand recovery. The decline also comes after data showed an increase in active oil rigs in the United States. Brent futures for November delivery closed lower by 2 cents, or …

Canada recorded a budget deficit of CAD 148.58 billion ($110.8 billion) during the first four months of fiscal year 2020/2021, compared with CAD 1.56 billion for the same period a year earlier, data showed on Friday.

Gold prices closed Friday in decline, extending its weekly losses to its worst level since last March. The yellow metal losses came amid the appreciation of the US Dollar (USD). Gold futures for December delivery decreased by $10.60, or 0.6%, and settled at $1,866.30 per ounce. For the week, the …

The number of active oil and natural gas rigs in the United States increased, for the consecutive week, by six to a total of 261 rigs by the end of the week. Crude oil rigs increased by four to 183, while natural gas rigs added two and reached a total …

European stocks closed lower on Friday, amid increasing concerns about the rising number of COVID-19 cases. The STOXX Europe 600 index declined by 0.2% and ended the week at the level of 355 points, losing 3.87% for the week. This is the worst weekly losses for the pan-European stocks in …

Britain’s public borrowing increased again in August, reaching a new record high, driven by massive spending to combat the Coronavirus pandemic, with the budget deficit since the start of the current tax year surpassing its full-year peak during the global financial crisis. The government has now borrowed 173.7 billion pounds …

The S&P 500 Index and the Dow opened lower on Friday, continuing their longest losing streak in a year as concerns about the economy’s outlook for a future dominated by the Coronavirus remain, putting pressure on investor sentiment. The Dow Jones Industrial Average fell 120.93 points, or 0.45%, to 26,694.51 …

Durable Goods Orders in the United States expanded by 0.4%, or $1 billion, on a monthly basis to $232.8 billion in August following July’s increase of 11.7% (revised from 11.2%), the US Census Bureau reported on Friday. This reading missed the market expectation of +1.5%. “Excluding transportation, new orders increased …

The dollar settled below its recent two-month high, and riskier currencies erased some of their weekly losses, while stock markets received a boost from hopes of resuming talks on fiscal stimulus in the United States. The dollar is moving towards achieving its best weekly performance since early April, driven by …