Market Update

Eurostat reported Wednesday that seasonally adjusted Gross Domestic Product (GDP) in the Euro area expanded at an annual rate of 2.3% in the third quarter. This reading followed the 4.2% growth recorded in the second quarter and came in higher than the initial estimate and the market expectation of 2.1%. …

European stocks fell on Wednesday, December 7, affected by investor anxiety, amid growing fears of a recession, although the strong push of the healthcare sector limited losses. The pan-European Stoxx 600 index fell 0.2%, extending its losses for the fourth consecutive day, after it began to recover from its fall …

Gold traded within a narrow range on Wednesday as investors awaited the Federal Reserve’s meeting next week to assess the bank’s monetary policy stance. And gold in instant transactions witnessed a slight change to $ 1772 an ounce by 0650 GMT. US gold futures rose 0.1 percent to $1,783.90. A …

Japan’s Nikkei average touched a four-week low on Wednesday, tracking a sell-off in technology stocks on Wall Street overnight, but gains in auto stocks helped limit losses. The Nikkei closed down 0.72% at 27,686.40, after dropping earlier to 27,646.78 for the first time since November 10. Tokyo Electron, which specializes …

Vedomosti newspaper reported on Wednesday that Russia is considering three options, including banning oil sales to some countries and setting a maximum discount at which it will sell its crude, in order to counter the price cap imposed by Western powers on Russian oil. The $60 per barrel price cap, …

The General Administration of Customs said on Wednesday, December 7, that dollar exports fell 8.7% in November compared to the previous year to $296 billion, which is the lowest level since April, when Corona restrictions led to the closure of Shanghai factories and roads and prevented companies from placing goods …

Uncertainty is prevalent regarding the Fed’s intentions that will unfold after FOMC meeting, later in December. Fed officials hinted at an easing pace of quantitative tightening starting as soon as this month, despite signs of easing inflation, but doubts are increasing lest the economy should fall in long-lasting recession.ECB’s Constantinos …

MSCI’s all-country world index, a gauge of stock performance in over 40 countries, fell 1.26% to record a third lower successive day after hitting a three-month high last week.An analysis by MSCI ESG Research noted 32 factors and risks that businesses and investors should consider for 2023 and beyond when …

Mathew McDermott, Goldman Sachs’ head of digital assets, suggested on Tuesday that the bank ponders to invest in, or even buy crypto firms whose prices significantly deteriorated in the wake of the FTX collapse in deals that would cost tens of millions of dollars. Goldman Sachs’s plan comes after the …

US power consumption is expected to hit a new record high this year as a logical result of the expanding economic activity and a particularly hot summer according to estimates by the US Energy Information Administration.On Tuesday, the EIA forecast that 2022 power demand in the United States will touch …