Market Update

Japanese stocks rose, tracking the rally in Wall Street yesterday, as hopes for more US stimulus overtook some concerns about the strength of the global economy. The Nikkei index closed up 0.51% at 23,204.62 points. The broader TOPIX index gained 0.48% to 1634.23. But for the week, the benchmark fell …

Federal Reserve Chairman Jerome Powell has warned that failure to provide more government aid to families threatens a wave of mortgage defaults and evictions of Americans from their homes. During his testimony before the Senate Banking Committee, Powell said that American household spending currently may depend on the use of …

The New York Stock Exchange (NYSE) closed higher on Thursday, despite uncertainties about the rising number of COVID-19 cases. The Dow Jones Industrial Average Index   gained 52.31, or 0.20%, to close at 26,815.44 points. S&P 500 increased by 9.67, or 0.30%, and finished at the level of 3,246.59 points. Meanwhile, …

Oil prices closed higher on Thursday, following a decline in US crude inventories, as shown by recent data. Brent futures for November delivery increased by 17 cents, or 0.4%, and finished at $41.94 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for November delivery settled higher by 38 cents, …

Gold prices rose on Thursday after three consecutive declines, amid higher demand for safe havens in light of uncertainties. In addition, the US Dollar (USD) is reversing a portion of its recent gains, moving in the negative territory. Gold futures for December delivery closed higher by $8.50, or 0.5%, at …

A second wave of COVID-19 infections should not harm the recovery of the United States economy, considering that the death toll from the infectious virus is decreasing, President of the Federal Reserve Bank of St. Louis, James Bullard, said on Thursday, Reuters reported. Meanwhile, President of the Federal Reserve Bank …

President of the Federal Reserve Bank of Chicago, Charles Evans, said on Thursday that more support is needed for people amid the COVID-19 crisis. “We are taking a very serious and unnecessary risk if we do not extend federal assistance to out-of-work households.”“The longer the dual challenges of the pandemic …

President of the Federal Reserve Bank of Richmond, Tom Barkin, said on Thursday that the new policy framework could help boost inflation expectations, noting that the risk of sudden rises in inflation in the future is low, Reuters reported. “While inflation has run below our 2 percent target, as I …

European stocks returned to losses on Thursday, closing lower for the day amid concerns about a second wave of COVID-19 infections. The STOXX Europe 600 index lost 1.05%, while the UK’s FTSE100 dropped by 1.30%. The French CAC40 index plunged by 0.89% and the German DAX index finished lower by …

New home sales in the United States increased by 4.8% to a seasonally adjusted annual rate of 1.011 million units in August, according to data released by the US Department of Commerce on Thursday. This is the highest level for new home sales since September 2006, according to Reuters. July’s …