Market Update

European shares hovered near six-week highs on Wednesday, July 20, as concerns over energy supplies eased after a report that Russian gas supplies would resume on schedule, while markets focused on Italian Prime Minister Mario Draghi’s speech to parliament amid a political crisis. The pan-European Stoxx 600 index rose 0.4% …

The American Petroleum Institute said that crude oil inventories rose by 1.9 million barrels in the week ending on the fifteenth of July. The weekly report of the American Institute revealed that gasoline stocks rose by 1.3 million barrels last week, while distillate stocks decreased by 2.2 million barrels. The …

Japanese stocks extended gains on Tuesday, albeit with modest performance, as investors refrained from any big moves ahead of the Bank of Japan’s monetary policy meeting, despite diminishing expectations for a large interest rate cut in the US central bank. The Nikkei index started its trading, up 0.8 percent, to …

Gold fell on Wednesday as fears of monetary policy tightening and an increase in Treasury yields dispelled relief from the dollar’s decline. By 0610 GMT, gold fell in spot transactions 0.3 percent to $1,706.85 an ounce. US gold futures fell 0.3 percent to $1,706 an ounce. The dollar fell for …

Russian President Vladimir Putin said on Tuesday that the Kremlin-controlled energy giant Gazprom was ready to fulfill its commitments on gas exports. Speaking to reporters after his visit to Tehran, Putin also said that Gazprom was not responsible for reducing gas transportation capacity, including the closure of one of the …

The UK Consumer Prices Index (CPI) 12-month rate came in at 9.4% in June when compared to 9.1% seen in May while beating estimates of a 9.3% print, the UK Office for National Statistics (ONS) reported on Wednesday. Meanwhile, the core inflation gauge (excluding volatile food and energy items) eased …

The EUR/USD pair soared to 1.0268 on headlines suggesting the European Central Bank could discuss a 50 bps rate hike when it meets this week. Economic DataThe data published by the US Census Bureau revealed on Tuesday that Housing Starts declined by 2% to a seasonally adjusted annual rate of …

Johnson & Johnson topped Q2 earnings expectations on Tuesday, but the company stock toppled on its trimmed profit outlook. On today’s stock market, JNJ stock rose fell 1.5% to 171.69, according to observers this could be attributed to the overall strength of the US dollar during Q2. The best performance …

Lockheed Martin missed on sales and earnings this week as sales are sinking and profit margins are headed for their worst performance since 2017. Lockheed’s major complaints for the second quarter include supply chain impact as well as the timing of customer contracts, but its problems look in fact so …

Amid a positive market mood, the GBP/USD pair has managed to scales above 1.2000 after a mild correction. Investors focus now on UK Inflation, lower earnings and higher inflation rates may create more problems for the households in the UK.Declining inflation expectations in the US may hurt the Dollar Index …