Market Update

Major US stock indices opened lower on Wednesday as Corona virus infections grew at an alarming rate in the United States and Europe, dashing hopes for a speedy recovery for the global economy. The Dow Jones Industrial Average fell 361.05 points, equivalent to 1.31%, to 27,102.14 points, and the S&P …

Wholesale inventories in the United States declined last month on a monthly basis by 0.1%, preliminary data by the US Census Bureau showed on Wednesday. On an annual basis, wholesale inventories decreased by 4.5% during September, reaching a seasonally adjusted $634.8 billion. As for retail inventories, a 1.6% monthly rise …

The European Commission has urged the EU governments to step up the response to the coronavirus pandemic amid the alarming spike in infections, Reuters reported on Wednesday. “EU Commission calls for coordinated testing strategies in EU states, recommends the use of antigen tests.”“EU extends to April 2021 suspension of customs …

The US merchandise trade deficit decreased sharply in September while exports increased to support expectations of record economic growth Q3. The US Commerce Department said on Wednesday that the merchandise trade deficit fell 4.5% last month to $ 79.4 billion. “Exports of goods for September were $122.0 billion, $3.2 billion …

Oil prices plunged on Wednesday, giving up the gains they had made the previous day, as an increase in US crude stocks and a rise in coronavirus cases in Europe and the United States fueled concerns about oversupply and weak demand for fuel. Brent crude futures fell $ 1.60 to …

The Turkish lira weakened to new lows against the dollar on Wednesday after the central bank raised its forecast for the rate of inflation in the current and next years. The lira recorded its lowest level ever at 8.2655 against the US currency to close at 8.1875 pounds yesterday and …

The dollar rose against the euro due to the possibility of imposing general isolation measures that include in France, while the Japanese yen rose to its highest level in more than a month as traders adjusted their positions in preparation for the US presidential elections next week. The dollar fell …

On Wednesday, European stocks reached their lowest levels since mid-June, following a report that France was considering implementing nationwide lockdown measures for a month to combat a rise in coronavirus cases. The pan-European STOXX 600 index fell 1.6%, while the German DAX index tumbled 2.2%, the British FTSE 100 index …

Turkish Statistics Institute data revealed on Wednesday that the Turkish economic confidence index rose 4.8% on a monthly basis in October to 92.8 points, recording a sixth consecutive month after it retreated due to measures to combat the outbreak of the Coronavirus. Economic activity fell sharply in March and April, …

Japanese stocks fell on Wednesday for a third consecutive session, weighed by concerns related to an increase in coronavirus cases in Europe and the United States, which could further damage the already ailing global economy. Analysts also said that apathy dominated trading, as the US presidential elections kept many investors …