Market Update

President of the Federal Reserve Bank of Chicago Charles Evans said on Tuesday that failing to pass a new economic stimulus package could lead to a longer recession and a slower recovery, Reuters reported. “Fiscal support is just fundamental.” Evans expects the unemployment rate in the United States to decline …

The activity in the Federal Reserve’s Fifth District’s manufacturing sector expanded at a stronger pace in September than it did in August with the Composite Index of the Richmond Fed’s Survey of Manufacturing Activity rising to 21 from 18. Further details of the report showed that the Manufacturing Shipment Index declined …

Major stock indices in the US opened slightly higher on Tuesday after Monday’s sharp declines. At the time of writing, the S&P 500 rose 0.45% to 3296, the Dow Jones Industrial Average gained 0.15% to 27194, and the Nasdaq Composite rose 0.6% to 10844. All major sectors in the S&P …

Gold fell on Tuesday, September 22, as the dollar rose to its highest level in more than a month, while investors remained skeptical about additional stimulus measures to support the economy that was affected by the Corona pandemic, ahead of words by Federal Reserve officials (the US Central Bank) this …

The headline Diffusion Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey improved to 8 in September from 1.6 in August, the monthly data showed on Tuesday. Wage and Benefit-Cost Index dropped to 13.1 in September from 14.6 in August. Firm-level Business Activity Index edged higher to …

British Prime Minister Boris Johnson announced on Tuesday that they will be introducing new COVID-19 restriction measures but noted that they will not be returning to a full lockdown as they did in March, as reported by Reuters. The PM said that they will be dropping the plan to allow …

The dollar rose on Tuesday, September 22, to a peak of six weeks, extending its gains from the previous session, as markets turn away from risk due to the increase in coronavirus cases and new isolation measures in Europe. Stocks fell on Monday as the currency market witnessed risk aversion …

European stocks rose Tuesday 22 September after falling sharply yesterday as technology and healthcare stocks rose, but concerns about new restrictions due to the Coronavirus in Britain and elsewhere continued to put pressure on travel sector stocks. The European Stoxx600 index rose 0.5% by 0716 GMT, maintaining its gains after …

There was little change in oil futures on Tuesday (September 22nd) after heavy losses overnight, as the latest hurricane receded in the Gulf of Mexico, but concerns about fuel demand continued due to an increase in coronavirus cases around the world. By 0637 GMT, Brent crude futures were down 3 …

The Turkish lira hit a record low against the dollar, as investors assess the possibility of a central bank raising interest rate during its meeting this week to limit the currency’s decline. The lira recorded 7.6440 against the dollar at 06:00 GMT, the lowest level ever after it recorded 7.6365 …