Market Update

Democrats and Republicans in the United States Congress are strongly disagreeing about the details of a new economic stimulus package. The Democrats are proposing around $3 trillion in funding, while Republicans do not to spend around $1 trillion. According to the Speaker of the House, Nancy Pelosi, the two parties …

European stocks continued with the upward trend on Wednesday, as the STOXX Europe 600 index closed up by over 1.14%. Most of the market sectors registered gains, with telecom, travel, and entertainment stocks showing strong performance. The FTSE100 index gained 2.04%, supported by positive economic data in the UK. Meanwhile, …

OPEC said that global oil demand will decline further in 2020 due to the Coronavirus pandemic, and added that the recovery next year will face great uncertainty, indicating growing adverse factors for the organization and its allies in supporting the market. The Organization of the Petroleum Exporting Countries (OPEC) said …

Real average hourly earnings in the US decreased by 0.4% on a monthly basis in July. US Dollar Index dropped below 93.50 after this report.Real average hourly earnings for all employees in the US declined by 0.4% from June to July (seasonally adjusted), the US Bureau of Labor Statistics reported …

Consumer prices in the US rose more than expected in July, but rising unemployment will likely keep inflation under control, allowing the Federal Reserve to continue pumping liquidity into the economy to help it recover from the recession caused by the Covid-19 pandemic. The US Labor Department said its consumer …

Bankruptcy cases in the United States are heading to their highest in 10 years this year, with companies suffering from the repercussions of the Coronavirus. According to a report issued by Standard & Poor’s Global, 424 US companies have filed for bankruptcy protection since the beginning of this year until …

Preliminary data showed that the Russian economy contracted by 8.5% on an annual basis in the second quarter of the year, with the country affected by the repercussions of the Coronavirus pandemic and the associated general isolation measures as well as the decline in oil prices, which is Russia’s main …

Official data showed an increase in industrial production for the euro area in June, but the recovery that came after record declines in March and April caused by the Coronavirus pandemic was below expectations for the second month in a row and slower than May. The increase in industrial production …

Telecom stocks boosted European stocks on Wednesday (August 12th) after Liberty Global’s bid to take over Sunrise Communications, while Britain’s FTSE100 index gained on bets on domestic stimulus. The European Stoxx600 index rose 0.2%, gaining for a fourth consecutive session. Sunrise Communications jumped 26.8% after Liberty Global inaugurated a bid …

Oil prices rose on Wednesday, August 12, after a report from the sector showed that US crude stocks fell by more than analysts’ expectations, boosting hopes that demand for fuel in the world’s largest economy can survive the Coronavirus pandemic. Brent crude rose 52 cents, or 1.2%, to $ 45.02 …