Market Update

Bank of America said Monday, October 17th, that earnings and earnings beat expectations for fixed income earnings and interest earnings in the third quarter, thanks to volatile markets and higher interest rates. The bank said its third-quarter profit fell 8% to $7.1 billion, or 81 cents a share, as the …

Ukraine’s grain exports in the first 17 days of October were 2.4% lower than the same period in 2021, data from the Ukrainian Ministry of Agriculture showed on Monday, October 17, despite the closure of many seaports and the Russian invasion. The country’s grain exports have fallen since February after …

European shares rose on Monday, boosted by the rise of energy and utilities companies, while investors awaited Britain’s financial plan and earnings reports for evidence of corporate strength amid concerns about rising interest rates and a possible recession. The pan-European Stoxx 600 index rose 0.3 percent, extending its gains for …

Oil prices were flat on Monday as concerns that rising inflation and energy costs could push the global economy into recession as China continued to loosen its monetary policy. Brent crude futures rose 17 cents, or 0.2 percent, to $91.80 a barrel by 0915 GMT, recovering from a 6.4 percent …

Kuwait News Agency (KUNA) said, quoting the CEO of the Kuwait Petroleum Corporation, that Kuwait on Sunday welcomed the decision of OPEC + to cut production by two million barrels per day. Sheikh Nawaf Al-Sabah affirmed Kuwait’s keenness to maintain balance in the oil markets for the benefit of consumers …

Oil prices rose during thin trading in early Asian markets on Monday. At the same time, the dollar fell sharply as investors awaited data from China to measure demand in the world’s largest importer of crude oil. Brent crude futures rose 85 cents, or 0.9 percent, to $92.48 a barrel …

US stocks fell on Friday, as rising inflation expectations kept alive fears that the path of aggressive Federal Reserve interest rate hikes could lead to a recession. In the final session of a volatile week, stocks opened higher before changing course after data from the University of Michigan showed consumer …

The 10-year US Treasury yields travelled above 4% on Friday, while the US dollar index neared 20-year highs after this week’s macro data paving the way for more rate hikes by Fed.In response, gold dropped below the $1,650 an ounce level, with December futures last trading at $1,643.87, down 1.74% …

Gold market is ending the week down nearly $90 from its October highs on renewed concerns regarding the expectations of Fed’s very aggressive stance into end of 2022.The 10-year US Treasury yields traveled above 4% on Friday, while the US dollar index neared 20-year highs after this week’s macro data …

Q3 earnings and profits slid at Wall Street’s biggest banks as they anticipate weaker economy while investment banking was hit hard, but investors saw a small glimpse of light with some banks beating estimates.Central banks fight inflation which is expected to cause an economic slowdown. Fed raised interest rate from …