Market Update

European stocks closed lower on Thursday, after the recent speech of the United States Federal Reserve Chair Jerome Powell. The Stoxx Europe 600 index declined by 0.58% and closed at 370.96 points. The UK’s FTSE100 index settled lower by 0.75% at 5,999.99. Meanwhile, the French CAC40 and the German DAX …

The White House need to agree on increased spending for the next COVID-19 stimulus package, said the United States House of Representatives Speaker, Nancy Pelosi, on Thursday. Recently, the President of the United States, Donald Trump, claimed that his administration has saved more than 50 million jobs, through the COVID-19 …

The United States Pending Home Sales Index increased by 5.9% to 122.1 in July, according to data by the National Association of Realtors on Thursday.

Data from the auto sector revealed that car production in Britain increased strongly in July, but is still below the level of last year, after manufacturing almost completely stopped in April at the start of isolation measures to combat the Corona virus. The Association of Automobile Manufacturers and Dealers said …

Jerome Powell, Chairman of the Federal Reserve System, is delivering his remarks at the virtual Jackson Hole Economic Policy Symposium titled “Navigating the Decade Ahead: Implications for Monetary Policy.” “Fed not tying itself to any particular method to define average inflation, policy will not be dictated by any formula.”“Fed will …

Jerome Powell, Chairman of the Federal Reserve System, said that the Fed in its new strategy will target average inflation in his prepared remarks at the virtual Jackson Hole Economic Policy Symposium.

Jerome Powell, Chairman of the Federal Reserve System, will be delivering his remarks at the virtual Jackson Hole Economic Policy Symposium at 1310 GMT on Thursday. Powell is expected to discuss the Fed’s monetary policy framework review at the conference titled “Navigating the Decade Ahead: Implications for Monetary Policy.”

There were 1,006,000 Initial Claims for unemployment benefits in the US during the week ending August 22nd, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 1,104,000 (revised from 1,106,000) and came in slightly worse than the market expectation …

The United States’ Real Gross Domestic Product (GDP) contracted at an annual rate of 31.7% in the second quarter, the US Bureau of Economic Analysis’ second estimate showed on Thursday. This reading came in better than the advance estimate of 32.9% and the market expectation of 32.5%.

After raising it to the fourth category, Hurricane Laura is classified as the biggest threat to US oil in 15 years, in light of the expected damage to the energy infrastructure in the region as the halt of US oil production in the Gulf of Mexico approaches its level during …