A lawsuit by the President of the United States, Donald Trump, to block the enforcement of the release of tax records has been dismissed by a court ruling on Thursday. The verdict was built on the logic that the case could provide undue expansion of presidential immunity, Reuters reported. Trump …
Read More »U.S. Treasury Yields Down Following Unemployment Data
The U.S. Treasury yields declined on Thursday, following the release of unemployment data. The number of people applying for jobless claims in the United States rose above one million once more, reaching 1.1 million last week, according to the U.S. Department of Labor. The yield on the benchmark 10-year Treasury …
Read More »European Stocks Close Lower on Negative Expectations
European stocks closed lower on Thursday, following expectations by the US Federal Reserve that the COVID-19 will weigh heavily on economic activity on the short-term. The pan-continental STOXX Europe 600 settled lower by 1%. The UK’s FTSE100 also declined by 1.61%, while the French index CAC40 finished lower by 1.33%. …
Read More »Kudlow: US Still Engaged with China on Trade Deal
White House economic adviser and the Director of the National Economic Council, Larry Kudlow, said on Thursday that the Trump administration is still engaged in the first phase of the trade deal between the United States and China, Reuters reported. The Trump administration is also pleased with the agreement’s progress …
Read More »Airbnb Files for IPO on NYSE
Airbnb, the short-term home and room rental company, has confidentially filed on Wednesday for an initial public offering (IPO), Reuters reported. A recent report by the Wall Street Journal suggested that the company could go public on the New York Stock Exchange (NYSE) as early as before the end of …
Read More »US Natural Gas Storage Rises in Week
Natural gas storage inventories in the United States increased last week, data showed on Thursday. According to the US Energy Information Administration (EIA), natural gas stockpiles rose during the week ended on August 14 by 43 billion cubic feet, in line with market expectations. Natural gas futures did not change …
Read More »OPEC + Needs to Contend With a Daily Surplus of More Than 2M Barrels
An internal OPEC + report seen by Reuters showed that some members of the group of oil-producing countries will need to reduce production by an additional amount of 2.31 million barrels per day to compensate for the recent excess supplies. The report said that the surplus recorded in the period …
Read More »Philly Fed Manufacturing Index Declines to 17.2
The headline Diffusion Index of the Federal Reserve Bank of Philadelphia’s Manufacturing Business Outlook Survey dropped to 17.2 in July from 24.1 in June. This print came in worse than the market expectation of 21.
Read More »1.1 million Americans Applied For Unemployment Benefits
There were 1,106,000 Initial Claims for unemployment benefits in the US during the week ending August 15th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 971,000 (revised from 963,000) and came in worse than the market expectation of …
Read More »Canada: ADP Employment Change Arrives at +1.15 million
Employment in Canada increased by 1,149,800 from June to July, the monthly data published by the ADP Research Institue revealed on Thursday. Meanwhile, June’s reading of +1,042,900 got revised down to -1,764,600. “The job market posted employment growth in July as businesses started to reopen,” said Ahu Yildirmaz, vice president and …
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