Market Update

France’s central bank said Thursday that the country’s economy expanded 16% in Q3, after an unprecedented 13.8% decline in the previous three months, confirming earlier forecasts. The second-largest economy in the eurozone fell sharply into recession in Q2 after imposing a set of strict lockdown measures in Europe to limit …

European stocks resumed their gains Thursday, approaching more than a three-week high, thanks to expectations of a targeted US stimulus package as well as positive corporate reports. The pan-European STOXX 600 index rose 0.7% by 0707 GMT, with travel, entertainment, industry and chemicals leading the gains. Wall Street indices rose …

Gold prices rose slightly Thursday, supported by the decline of the dollar and renewed optimism about some aid to mitigate the repercussions of the Corona pandemic in the United States, while investors awaited the weekly jobless claims data to gauge the strength of the world’s largest economy. Spot gold prices …

Oil prices rose Thursday as workers in the oil sector evacuated platforms in the Gulf of Mexico in the United States before Hurricane Delta, but fears of fuel demand continued due to the dissipation of the prospects of a US stimulus agreement and after an increase in US crude stocks. …

The New York Stock Exchange (NYSE) closed Wednesday higher on the back of renewed hopes for a stimulus package by the Congress. The Dow Jones Industrial Average surged by 530.70 points, or 1.91%, to finish at 28,303.46 points. S&P 500 closed higher by 58.50 points, or 1.74%, at 3,419.45 points. …

Treasury yields in the United States increased on Wednesday, as the latest US Federal Reserve’s meeting minutes indicated a commitment to asset purchases. The Fed is set to focus on purchasing assets with longer maturities. Return on the 10-year Treasury bond leveled up by 4.3 basis points to 0.784%, its …

Oil prices declined on Wednesday, after official data showed a the first rise in four week in US crude inventories. This also comes after the complications facing a new economic stimulus package. Nonetheless, declines were limited due to recent output disruptions, which helped crude prices finish above session lows. Brent …

Gold prices closed lower on Wednesday, falling to its lowest level in more than a week. Gold futures for December delivery fell by $18, or 0.9%, and finished at the level of $1,890.80 per ounce, its lowest since September 28. Meanwhile, silver futures for December delivery declined by 2 cents, …

The United States Federal Reserve is facing one of two tough choices, to either cut interest rates or increase asset purchases, according to new research by the Fed’s economist Michael Kiley, Bloomberg reported. President of the Federal Reserve Bank of Cleveland, Loretta Mester, is the only member of the Fed’s …

European stocks declined on Wednesday, on the back of uncertainty as Trump instructed the cancellation of new stimulus package in the United States, while in Europe the outlook for COVID-19 remains concerning with fears of the second wave. The pan-European STOXX 600 index closed lower by 0.12% at 365.45 points. …