Market Update

The President of the United States, Donald Trump, said on Tuesday that he supports a new comprehensive COVID-19 stimulus package worth more than $2.2 trillion. This comes despite opposition by the Republican majority in the Senate. The White House originally proposed $1.8 trillion in relief funds, while the Democrats want …

European stocks finished Tuesday lower, amid growing concerns about the second wave of the Coronavirus (COVID-19) pandemic and its impact of European markets. The pan-European STOXX 600 index closed down by 0.23% at 365.95 points. Meanwhile, the UK’s FTSE100 rose marginally by less than 0.1%. The French CAC40 and the …

The United States is concerned with China’s growing influence in Brazil, as expressed by the U.S. Trade Representative Robert Lighthizer on Tuesday. Lighthizer’s remarks, picked up by Reuters, came during an event hosted by the U.S. Chamber of Commerce. It is worth noting that China is Brazil’s largest trading partner. …

The United States Federal Reserve Vice Chair Randal Quarles said on Tuesday that the non-banking financial system is significantly more fragile, as shown by the impact of the COVID-19 crisis. “The interconnectedness of our financial system means that it is not enough to understand the vulnerabilities arising from the banking …

Wall Street’s main indexes rose at the open Tuesday, as investors hope for more stimulus from Washington, as the Republican-controlled Senate prepares to vote on a bill to help small businesses hit by the Covid-19 pandemic. The Dow Jones Industrial Average rose 50.43 points, or 0.18%, to 28,245.85 points. The …

The Euro struggled to rise above the level of $ 1.18 on Tuesday as hopes for a stimulus package to help those affected by Corona in the United States dashed, dealing a blow to high-risk assets globally, as the increase in Coronavirus cases in Europe pressed the single currency. While …

Two industry sources told Reuters that Russia may support keeping global oil production cuts unchanged after 2020 when it is time to ease them if global market conditions deteriorate due to slowing demand and increasing cases of coronavirus. Russian Energy Minister Alexander Novak said last week that OPEC + would …

A German Finance Ministry document showed, Tuesday, that Germany’s debt level is likely to reach 71% of GDP, as the country spends more to mitigate the repercussions of the Coronavirus pandemic. The document showed that the expected level next year is at 70.25% of GDP, due to the expected recovery …

There was little change in oil prices on Tuesday, to stabilize after suffering losses over three days due to fears that the increase in cases of Coronavirus globally would impede the recovery of demand for fuel while the increase in Libyan production leads to an abundance of supplies. Brent crude …

Data from the European Central Bank showed on Tuesday that the current account surplus of the 19-nation eurozone widened to 19.9 billion dollars in August from 17 billion euros in July thanks to a higher trade surplus and a lower primary income deficit. In the 12 months to August, the …