Market Update

The New York Stock Exchange (NYSE) finished Wednesday trading session on a mixed note. A rise in Treasury bond yields and the release of the Federal Reserve’s Beige Book, which lowered expectations for economic growth this spring, pressured stocks, especially the tech sector. Moreover, the Beige Book expected a rise …

Oil prices continued to rise in Wednesday, supported by the improved outlook demand from the International Energy Agency (IEA), which raised expectations for global demand for crude this year by 230,000. The IEA expects a 5.7 million-barrel a day growth in the global demand for oil in 2021 compared with …

Forecasts for Germany’s economic growth for this year are expected to be revised lower to 3.7% from 4.7%, Reuters reported citing sources in German economic institutes. The move comes amid preventive measures against the coronavirus pandemic and lockdowns taking longer than previously expected. Meanwhile, the estimated growth rate for 2022 …

The Central Bank of Russia said on Wednesday that it expects inflation rate to gradually decline from its 5.8% peak this month. Last month, consumer prices in Russia recorded their biggest increase since 2016. Accordingly, the Russian central bank decided in March to raise its main interest rate to 4.5%.

Gold prices finished lower on Wednesday, due to a rise in U.S. Treasury bond yields, abolishing all of yesterday’s gains and settling below $1,740 an ounce. A decline by the U.S. Dollar (USD) across the board might have limited the yellow metal’s losses, which might have expanded as Bitcoin exceeded …

European stocks closed mostly higher on Wednesday, amid investors’ optimism about earnings reports. The STOXX Europe 600 index rose by 0.22% to close at 436.71 points. Meanwhile, the UK’s FTSE100 finished higher by 0.71% with expectations for easing lockdowns. In France, the benchmark index CAC40 rose by 0.40%. On the …

Coinbase Global Inc witnessed a strong debut on the stock market on Wednesday, reaching a valuation of around $91 billion. Today marked the Cryptocurrency exchange debut on the Nasdaq, which indicated to open at a share price of $350-355, compared with a a reference price of $250. Listing the company …

President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Wednesday that it will be a while before the United States reaches full employment. However, Kaplan said that the Fed should start reducing what he sees as extraordinary measures, “at the first opportunity once we’ve reached, and are …

Import prices in the United States increased by 1.2% during March, signaling another rise in inflation rates, data by the U.S. Department of Labor showed on Wednesday. This marker the fifth consecutive monthly rise in import prices, which increased by 6.9% on an annual basis, recording its biggest increase since …

The dollar settled near its lowest level in a month on Wednesday as strong demand in a US bond auction led to a broad drop in Treasury yields and curtailed the interest rate advantage that the greenback enjoyed against other major currencies. In early trading in London, the dollar rose …