The Democratic Party’s candidate to the US 2020 Presidential Elections is proposing a plan to combat climate change with investments of $2 trillion in four years. Joe Biden’s plan focuses on investments in renewable energy sources and eliminating carbon emissions from power generation to zero by 2026. The strategy proposed …
Read More »Wall Street Futures Rise, Driven by Tech Rebound and Upbeat Corporate Outlook
U.S. stock index futures climbed on Wednesday, continuing a recovery in the tech sector, led by a su…
Oil Prices Edge Higher on Supply Concerns and Strong Demand Outlook
Oil prices continued their upward trajectory on Wednesday, approaching a two-month high, driven by e…
European Stocks Climb Amidst Anticipation for U.S. Inflation Data and French Elections
European shares advanced on Wednesday, fueled by gains in mining and technology stocks, as investors…
Asian Stocks Waver as U.S. Inflation Data Looms and Yen Nears Critical Level
Asian stock markets experienced a choppy trading session on Wednesday, as investors braced for a piv…
Will the Australian dollar resume its uptrend?
A report, by Credit Agricole Bank, contains expectations for the price movement of the Australian do…
Market Drivers; US Session, June 25
Along with a respectable increase in US rates, the US dollar recovered some of the ground it had los…
US Stocks Mixed as Nvidia Rebounds, Tech Leads Gains
Mixed performance was the expression that best describes Tuesday’s US stock market. The S&P 500 …
Fed Leans Hawkish, Rate Cuts in 2024 Uncertain
In 2024, the Federal Reserve changed its position on interest rates dramatically. The salient featur…
Tesla Tops Industry In Profit Per Vehicle Despite Faulty Cybertrucks
Tesla has topped the auto industry in profit per vehicle for the year through March, with Tesla̵…
Gold prices in red territory ahead of PCE data
Gold CFDs are -0.40% down, trading at $2323.40 and spot gold is -0.45% down, trading at $2323.97 at …
Market Analysis
July, 2020
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15 July 2020 1:13 am
Dow Rises for Third Day in Row
The New York Stock Exchange (NYSE) indices surged on Tuesday, with the Nasdaq recording its third consecutive daily rise, while the Dow and S&P 500 recovered their losses on Monday. The Dow Jones Industrial Average added 2.13% or 556.8 points to settle at 26,642.59. Meanwhile, S&P 500 and the Nasdaq …
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15 July 2020 12:29 am
Bullard: Right Moves Could Lower Unemployment
The unemployment rate in the United States could significantly decline over the coming months if proper policies are adopted, according to the President of the Federal Reserve Bank of St. Louis, James Bullard. Bullard remarks came following remarks by his Richmond counterpart that “there is a complicated brew of what’s …
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15 July 2020 12:14 am
Oil Settles Higher Awaiting OPEC Meeting
Oil prices increased on Tuesday, as the market anticipates the results of the OPEC+ summit. The US benchmark crude, West Texas Intermediate (WTI), futures for August delivery settled higher by 19 cents, or 0.5%, at $40.29 per barrel. Meanwhile, the global benchmark, Brent crude oil futures for September delivery increased …
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15 July 2020 12:04 am
Gold Settles Lower but Keeps $1,800-Level
Gold prices declined on Tuesday, but recovered from most of its earlier losses and maintained the $1,800 per ounce level. Demand for gold as a safe haven supported the yellow metal, with rising concerns regarding the COVID-19 pandemic and the economic recovery progress. Gold futures for August delivery lost 70 …
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14 July 2020 10:05 pm
Barkin: Unemployment Situation is Complicated
President of the Federal Reserve Bank of Richmond, Thomas Barkin, said on Tuesday that unemployment in the United States could increase once again during the recovery from the COVID-19 crisis, with the market trying to adjust to a recession longer than previously expected, Reuters reported. “There is a complicated brew …
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14 July 2020 9:53 pm
Treasury Yields Down for Second Day
Treasury yields declined for the second consecutive day on Tuesday, with increased worries regarding the pace of economic recovery as COVID-19 cases in the United States increase. The 10-year Treasury notes yield decreased by 2 basis points (bps) to 0.611%, while the yield on the 30-year bonds declined by 4 …
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14 July 2020 9:42 pm
California Begins Another COVID-19 Lockdown
The state of California began reapplying the lockdown announced on Monday by Governor Gavin Newsom. The new statewide directives will see all restaurants, bars, movie theaters, entertainment centers, zoos and museums close their indoor operations. In addition, the state is closing gyms and fitness centers, worship places, salons and barbershops, …
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14 July 2020 7:58 pm
Swiss Central Bank Away from Normal Rates
The Swiss National Bank (SNB) will maintain its current negative interest rates, according to its Chairman, Thomas Jordan. “I fear it will take some time before we get there again,” Jordan said on Tuesday, as quoted by Reuters. The remarks came during a webinar with the International Monetary Fund (IMF). …
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14 July 2020 6:42 pm
US Budget Deficit Surges to $864 B in June
The US federal budget deficit increased to $864 billion in June with increased spending on COVID-19 stimulus and relief programs coupled with reduced taxes, data by the US Department of Treasury showed. The year-to-date fiscal deficit stands at $2.7 trillion, Reuters reported. Expenditure increased by 223% to $1.1 trillion, a …
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14 July 2020 5:58 pm
Opec: Oil Demand Will Rise to a Record In 2021
OPEC reported in its monthly report that global oil demand will rise to a record level of 7M bpd in 2021 as the economy recovers from Covid-19 crisis, but will remain below 2019 levels. This is the first report in which OPEC evaluates the oil markets next year and said …
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14 July 2020 5:52 pm
Wells Fargo Reports Quarterly Losses
Wells Fargo reported quarterly losses for the first time since the financial crisis in 2008. The COVID-19 crisis forced to write off 9.57B to cover potential loan losses. Wells Fargo reported a loss of $ 2.4B, or 66 cents a share, in the second quarter ending June 30, compared to …
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14 July 2020 4:58 pm
US Consumer Prices Rebound in June
The Labor Department said on Tuesday that the consumer price index rose 0.6% last month after falling 0.1% in May in the 12 months to June, the lowest annual increase since September 2015. Economists who participated in the Reuters poll expected the CPI to rise 0.5% in June and rise …
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