Market Update

The Institute for Supply Management’s (ISM) services index decreased in October to 56.6 from 57.8 in September, data showed on Wednesday. This is the lowest expansion for the United States services sector in five months, as the economy recovers from the impact of the COVID-19 pandemic.

Crude oil inventories in the United States declined by 8 million barrels last week, according to data by the US Energy Information Administration (EIA) on Wednesday. Meanwhile, gasoline stockpiles increased by 1.5 million barrels, while distillate stockpiles decreased by 1.6 million barrels.

The US Dollar (USD) is fluctuating on Wednesday, awaiting the results of yesterday’s elections. It seems unlikely that the Democrats will take control of the Senate, which means a new large stimulus package remains uncertain. The Dollar index (DXY), which measures the performance of the USD against a basket of …

Wall Street opened higher on Wednesday, on the day following Election Day in the United States as the outcomes of the elections remains highly anticipated. All the indices of the New York Stock Exchange (NYSE) are trading higher. The Dow Jones Industrial Average is up by more than 563 points …

The United States’ goods and services deficit declined by $3.2 billion to $63.9 billion in September, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Wednesday. This reading missed the market expectation for a deficit of $63.8 billion by a small …

Canada’s trade deficit expanded from C$3.21 billion in August to C$3.25 billion in September, the monthly data published by Statistics Canada showed on Wednesday. This reading came in worse than the market expectation for a deficit of C$2.6 billion. Further details of the publication revealed that Canada’s exports rose by …

Employment in the US private sector rose by 365,000 in October, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday. This reading followed September’s increase of 753,000 (revised from 749,000) and missed the market expectation of 650,000 by a wide margin.

Former Vice President Joe Biden has taken a slim lead in Michigan over US President Donald Trump, 49.3% vs. 49.1%, with 94% of expected votes tallied, the latest figures from the Associated Press showed.

Canada’s trade deficit expanded from C$3.21 billion in August to C$3.25 billion in September, the monthly data published by Statistics Canada showed on Wednesday. This reading came in worse than the market expectation for a deficit of C$2.6 billion. Further details of the publication revealed that Canada’s exports rose by …

In Michigan, with 86% of expected votes tallied, President Donald Trump has 49.4% and former Vice President Joe Biden has 48.9%, Reuters reported, citing Edison Research. Earlier in the day, Trump’s lead was 52% in the state with 79% of votes tallied and the narrowing gap seems to be helping …