Market Update

Japanese stocks rose on Monday, erasing early losses, led by technology stocks and drugmakers as US futures rallied on hopes that lawmakers would soon pass a major economic stimulus to revive growth in the world’s largest economy. The Nikkei index on the Tokyo Stock Exchange gained 0.67% to 28,822.29 points, …

The highlight of the week was the inauguration of Joe Biden as the 46th President of the United States. Biden is promising to better handle the Coronavirus crisis in the U.S. through a new plan for distributing vaccines, as well as increased stimulus to help businesses and households alike cope …

Oil prices declined on Friday, as data showed a surprise increase in crude inventories in the United States, and amid the rise of the U.S. Dollar (USD). In addition, the resurgence of the Coronavirus pandemic in many parts across the world has spurred concerns about the recovery of the global …

The Prime Minister of the United Kingdom (U.K.), Boris Johnson, said on Friday that the new variant of the novel Coronavirus, which caused a global pandemic, could be resulting in a higher mortality rate, Reuters reported. However, Johnson noted that studies have shown that the two vaccines that have been …

Gold prices declined on Friday, as the U.S. Dollar (USD) returned to the positive territory scoring some gains against major currencies. However, the yellow metal was able to register weekly gains, supported by the prospects of increased government stimulus spending the United States. Gold futures for February delivery declined by …

European stocks closed lower on Friday, on the back of economic data that showed business activity slowing down in the Eurozone amid renewed lockdown and preventive measures against the spread of the Coronavirus pandemic. The pan-European STOXX 600 index lost 0.66% to give up almost all of its weekly gains …

The U.S. Dollar (USD) is showing a relatively stable performance on Friday. After declining throughout the past three sessions, the greenback is making small gains on the last session of the week. This comes amid a softening in the risk appetite, which swayed investors away from the USD towards riskier …

Business activity in the United States expanded during January, data showed on Friday. The IHS Markit flash U.S. composite purchasing managers’ index (PMI) reached its highest level in two months at 58 this month, up from 55.3 in December. The Flash U.S. Services Business Activity Index also went up to …

Existing home sales in the United States rose last month, data by the National Association of Realtors showed on Friday. Home sales grew by 0.7% to a seasonally adjusted annual rate of 6.76 million units during December, against market expectations of a decline. Home resales rose by 22.2% on an …

US President Joe Biden said Thursday, January 21, that the total number of Covid-19 deaths in his country will likely exceed half a million next month, painting a grim picture of what he said will be a fierce battle. Biden added in a meeting at the White House that the …