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The New York Stock Exchange (NYSE) closed Friday on a lower note, with the main indices ending the week with the biggest losses since the end of October. Weak economic data prompted concerns about the state of the economy, which still struggles with the Coronavirus pandemic. The Dow Jones Industrial …
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January, 2021
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16 January 2021 2:24 am
U.S. Treasury Yields Decline for the Week
Treasury yields in the United States declined on Friday, after data showed that the American economy continues to suffer from the impact of the Coronavirus pandemic. Yield on the 10-year Treasury bonds went down by 3.1 basis points to 1.097%, declining by 0.8 basis point compared to its level by …
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16 January 2021 2:20 am
Oil Erases Weekly Gains and Turns to Losses
Oil prices declined on Friday, giving up most of their weekly gains in a correction wave that follows recent surges amid continuous concerns about the rising number of new Coronavirus cases. Brent crude futures for March delivery declined by $1.32, or 2.3%, to close at $55.10 per barrel. For the …
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15 January 2021 11:18 pm
U.S. Oil Rig Count Rises for Eight Week in Row
Active rigs drilling for oil in the United States increased by 12 to 287 this week, according to the weekly report released on Friday by Baker Hughes. This is the eight consecutive weekly rise for the U.S. oil rig count. The total rig count, representing the number of active rigs …
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15 January 2021 11:15 pm
Gold Closes Lower and Turns to Weekly Losses
Gold prices declined on Friday as the U.S. Dollar (USD) continued to show some rebound signs across the board. Gold futures for February delivery lost $26.30, or 1.4%, to close the week at the level of $1,825.10 per ounce. The most active yellow metal contracts have registered a weekly decline …
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15 January 2021 11:10 pm
U.S. Consumer Sentiment Declines: University of Michigan Survey
Consumer sentiment in the United States slightly declined during the first half of January after the attack of the U.S. Capitol sparked political uncertainty and as the number of new Coronavirus cases continues to surge with a slow rollout of vaccines. The University of Michigan’s consumer sentiment index fell to …
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15 January 2021 11:06 pm
European Stocks Turn to Weekly Losses
European stocks declined on Friday, closing lower after rising for three consecutive sessions, turning to weekly losses amid a rising number of new Coronavirus cases across the continent. The STOXX Europe 600 index finished lower by about 1%, turning to a weekly decline of 0.8%. In France, the CAC40 ended …
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15 January 2021 8:39 pm
U.S. Business Inventories Rise in November
Business inventories in the United States grew during November, data by the U.S. Department of Commerce showed on Friday. After registering an increase of 0.8% in October, business inventories increased by 0.5% in November. On an annual basis, business inventories declined by 3.2% during November 2020. Meanwhile, retail inventories went …
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15 January 2021 8:22 pm
IMF Urges Continuous Support for Economies amid Pandemic
The International Monetary Fund (IMF) has called upon countries to maintain support for economies amid the complications and risks resulting from the Coronavirus pandemic. “The global economy is at a critical juncture,” said the IMF spokesman Gerry Rice, Reuters reported.“There remains a great deal of uncertainty. The prospect for a …
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15 January 2021 7:26 pm
U.S. Industrial Production Rises in December
Industrial production in the United States grew during December for the eighth consecutive months, data showed on Friday. Factory output increased by 0.9% last month compared with a 0.8% rise in November, according to data by the U.S. Federal Reserve. Total industrial production surged by 1.6% in December, recording its …
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15 January 2021 5:54 pm
US: Retail Sales Decline by 0.7% in December
Retail Sales in the US fell by 0.7% in December to $540.9 billion, the data published by the US Census Bureau showed on Friday. This reading followed November’s decline of 1.4% and came in worse than the market expectation of no-change.
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15 January 2021 5:42 pm
Citigroup’s Quarterly Earnings Declining But Better Than Expectations
Citigroup’s profits declined 7% in Q4 of 2020, but were much better than Wall Street analysts’ expectations, as the improved economic outlook allowed it to release cash that it had previously allocated for bad loans. The New York-based bank reported net profits of $4.63 billion, or $2.08 per share, down …
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15 January 2021 4:44 pm
US Department of Energy: The US Plans to Sell 20 Million Barrels of Strategic Oil Reserves
The US Energy Department said Thursday it plans to sell up to about 20 million barrels of crude oil from the Strategic Petroleum Reserve, as dictated by two laws passed in 2015 and 2018. Both laws require the ministry to sell a little more than ten million barrels during the …
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