Market Update

The Federation of China Automobile Industry said passenger car sales in the world’s second-largest economy reached 2.18 million units in January, an increase of 26% year-on-year. Electric car maker Tesla sold 15,484 vehicles manufactured in China last month.

The National Federation of Independent Business (NFIB) reported on Tuesday that the Business Optimism Index in the US declined to 95 in January from 95.9 in December. This reading came in worse than the market expectation of 98.7. 

Gold prices rose near their highest level in a week on Tuesday, February 9th, as the dollar faltered and expectations that a huge US fiscal stimulus will soon be passed to revive the world’s largest economy. Spot gold rose 0.5% to $1839.02 an ounce, after reaching $1843.04 earlier in the …

European stocks fell on Tuesday 9 February, after a strong rally receded, driven by hopes of a faster global economic recovery and the distribution of anti-Coronavirus vaccines, while shares of the French oil giant Total increased after its profits recovered in Q4 last year. Total’s share increased by 1.1% after …

The dollar is facing difficulties to rise from its lowest level in a week on Tuesday, February 9th, as traders went anxious about the outlook for the greenback with the future of major US financial stimulus package. Investors have pushed the dollar higher in recent weeks, as Democrats move quickly …

Bitcoin hit $48,000 for the first time in the early trading on Tuesday at Bitstamp, as it headed towards the $50,000 barrier. The market value of the largest cryptocurrency in the world has now exceeded $ 891 billion. Bitcoin has risen nearly 24% since the leading electronic car maker Tesla …

Oil prices rose on Tuesday, February 9th, to their highest in 13 months, as energy markets received support from major producers cutting supplies and optimism about a recovery in fuel demand. Brent crude futures for April delivery were 50 cents, or 0.8%, at $ 61.06 a barrel. US West Texas …

Japanese stocks closed higher for the third consecutive session on Tuesday, February 9, after reaching a 30-year high, as strong business results for companies and progress in distributing anti-virus vaccines raised expectations of a rapid economic recovery. The benchmark Nikkei index rose 0.4% to 29,505.93 points, while the broader Topix …

The main indices of the New York Stock Exchange (NYSE) closed at new record highs on Monday, opening the second week of February with a strong performance that build up on the recent surges, which come on the back of improved risk sentiment among Wall Street investors and anticipation for …

The President of the Federal Reserve Bank of Cleveland, Loretta Mester, said on Monday that the Fed will maintain its monetary easing policies for a very long time to help the economy achieve the inflation and employment goals set by the central bank, Reuters reported. Mester believes that economic activity …