Market Update

Stocks fell for a third day on Tuesday, jeopardizing a summer comeback rally, as the Federal Reserve and other global central bankers continued to send hawkish signals to fight inflation despite the negative consequences for economic growth or the impact on corporate earnings. The S&P 500 fell 1.1% to 3,986.16, …

Elon Musk’s legal team has given another notice to terminate its $44 billion deal to buy Twitter, citing additional reasons. The latest notice comes after Twitter’s former security chief alleged deficiencies in its security, privacy and content moderation systems earlier this month. On July 8, Musk’s legal team initially filed …

Annual inflation in Germany, as measured by the Consumer Price Index (CPI), rose to 7.9% in August from 7.5% in July, Germany’s Destatis reported on Tuesday. This reading came in slightly higher than the market expectation of 7.8%. The Harmonised Index of Consumer Prices (HICP), the European Central Bank’s (ECB) preferred …

Three sources told Reuters on Tuesday that Iraq’s oil exports have not been affected by the current political turmoil. Baghdad is witnessing the worst fighting in years, with clashes between rival Shi’ite groups entering their second day. Two sources confirmed that supporters of Shiite cleric Muqtada al-Sadr, a former leader …

Oil prices fell on Tuesday on fears that the weakness of global economies caused by inflation will reduce demand for fuel, while Iraqi exports will not be affected by the ongoing clashes there. Brent crude futures for October delivery fell $2.45, or 2.33 percent, to $102.64 a barrel by 1022 …

European shares rallied on Tuesday following a two-day sell-off with the banking sector supporting equities. However, concerns over a mounting energy crisis, interest rate hikes and an impending recession capped gains. The pan-European Stoxx 600 index rose 0.4 percent, after declining about 2.5 percent in the previous two sessions, on …

Gold prices fell on Tuesday, pressured by the dollar’s rise. At the same time, the possibility of higher US interest rates for a longer period also affected the non-yielding allure of the precious metal. And gold fell in immediate transactions 0.3 percent to $ 1732.10 an ounce (an ounce) by …

The Japanese Nikkei index ended trading on Tuesday, up more than one percent, led by major technology companies, as the benchmark index rebounded after reaching its lowest level in two weeks in the previous session. The Nikkei rose 1.14 percent to close at 28,195.58 points, while the broader Topix index …

WTI crude oil is settling at $97.01; highest since July 29. Continuing clashes in the Libyan capital, Tripoli, are threatening oil supply, moreover, the OPEC+ meeting is also a concern as Saudi Arabia has threatened production cuts. Earlier on Monday, WTI oil moved above the $96 level as traders focused …

Bitcoin took the journey, on Monday from the opening price at $19571.30 to $20199.30 at the time of writing. It last traded at this level in July when the bulls took over the market and initiated an uptrend.Since a big stone was thrown into the market waters by Jerome Powell’s …