Market Update

Moderna said its initial, third-beta data show its coronavirus vaccine is more than 94% effective in preventing Covid-19 – a result that CEO Stéphane Bancel has called it a “game-changer”. He added, “The thing that got me the most excited today was the severe disease.” Moderna, which developed its vaccine …

Risk flows started to dominate financial markets on Monday after Moderna announced that its COVID-19 vaccine candidate is expected to remain stable at standard refrigerator temperatures of 2° to 8°c for 30 days.

European stocks rose on Monday (November 16th), hovering near nine-month highs after strong Chinese data and hopes for a COVID-19 vaccine renewed bets on a faster economic recovery. Chinese factory production increased faster than expected in October and retail sales rose as the recovery momentum in the world’s second largest …

China’s National Bureau of Statistics said that Chinese economic growth will accelerate in the Q4 at a faster pace than in Q3. The latest data showed that Chinese industrial output rose faster than expected in October, while retail sales grew at a slower than expected pace.

Oil prices rose on Monday, November 16, offsetting some of the previous session’s losses to support hopes that OPEC + will maintain the current production restrictions, overshadowing concerns about the decline in fuel demand due to the growing infection with the Coronavirus and the increase in production in Libya. Prices …

Gold touched its highest level in a week on Monday, November 16, in light of the dollar’s decline, while the escalation of Coronavirus cases in the United States fueled concerns about the repercussions of the pandemic on the economic recovery, which supported hopes for more monetary stimulus. The spot price …

Japanese stocks touched their highest level in 29 years Monday, November 16, after the economy grew for the first time in four quarters and in light of progress towards a vaccine for Covid-19. The benchmark Nikkei Index closed 2.05% higher at 25,906.93 points, its highest close since June 1991. The …

Chinese industrial production rose faster than expected in October, while retail sales continued to recover, albeit at a slower pace than expected, as the world’s second-largest economy emerged from the recession that accompanied the spread of the Coronavirus. Data from the National Bureau of Statistics showed that Chinese industrial production …

The second week of November saw two major highlights. First, it was over the past weekend that it became clear that the Democratic nominee and Former Vice President Joe Bides will be the next President of the United States after winning the elections. A projected win in the state of …

Oil prices declined on Friday after data showed a surprise buildup in American crude inventories yesterday, and amid the rise in new Coronavirus cases in many countries, especially in the United States. However, oil futures recorded high weekly gains, supported by positive news about a Coronavirus vaccine at the beginning …