Market Update

Data on Tuesday showed that inflation in two of the euro zone’s largest economies rose unexpectedly this month, adding to expectations of a rate hike by the European Central Bank and refuting the view that prices are now rapidly easing. The European Central Bank plans to raise its main interest …

Target delivered better-than-expected earnings for the fourth quarter but warned about a slowdown as consumers continue to focus on necessities. Shares are still trading about 5% higher in pre-market Tuesday. Target posted of $1.89 on revenue of $31.4 billion, beating the average analyst estimate for earnings of $1.40 per share on …

China’s state media quoted officials as saying on Tuesday that the foundation of the country’s economic recovery has not yet reached strength and that various unforeseen factors may occur at any time. The New China News Agency (Xinhua) quoted the statement of the Central Committee of the Communist Party of …

Gold prices fell on Tuesday, heading towards their largest monthly loss since June 2021, with the decline in the attractiveness of the non-yielding metal, in light of expectations that the Federal Reserve will raise interest rates soon. Spot gold fell 0.3 percent to $1,811.74 an ounce by 0735 GMT, after …

Japan’s Nikkei index gave up most of its early gains to close slightly higher on Tuesday, as investors sold strong-performing stocks to bargain hunters amid the absence of a clear catalyst. The Nikkei ended the day’s trading, up 0.08 percent, at 27,445.56 points, after rising 0.6 percent. The broader Topix …

Official data showed on Tuesday that the Turkish economy grew by 5.6 percent in 2022, exceeding expectations, while growth slowed to 3.5 percent in the fourth quarter, with the continued impact of falling demand. Data from the Turkish Statistical Institute showed that the gross domestic product for the fourth quarter …

A report by The Information on Monday quoted people familiar with the matter as saying that Elon Musk has approached AI researchers in recent weeks about setting up a new research lab to develop an alternative to OpenAI’s ChatGPT. The report stated that Musk, the head of Tesla and Twitter, …

Statistics of the Russian Ministry of Energy showed, on Tuesday, February 28, that Russia’s natural gas production decreased in January by 10.7% on an annual basis, to 62.7 billion cubic meters. Russian press sources indicated that the largest part of the decline was the share of Gazprom, which has about …

The US dollar began the new trading week extending positive performance although demand for the US currency diminished ahead of the US session’s opening, following a mixed United States Durable Goods Orders report. Later on the day, the dollar Index fell 0.52% to 104.725, reversing gains from last Friday driven …

According to expectations, US President Joe Biden will consider the suspension of extensive limits on US investment in China that have been proposed by some hawks in his administration and Congress. According to Politico, White House negotiations have been taking place as US President Biden scales back plans for an …