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Market Analysis

September, 2020

  • 25 September 2020 10:50 am

    Powell Warns of Delay in Reaching an Additional Stimulus Package

    Federal Reserve Chairman Jerome Powell has warned that failure to provide more government aid to families threatens a wave of mortgage defaults and evictions of Americans from their homes. During his testimony before the Senate Banking Committee, Powell said that American household spending currently may depend on the use of …

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  • 25 September 2020 12:42 am

    NYSE Closes in Modest Gains

    The New York Stock Exchange (NYSE) closed higher on Thursday, despite uncertainties about the rising number of COVID-19 cases. The Dow Jones Industrial Average Index   gained 52.31, or 0.20%, to close at 26,815.44 points. S&P 500 increased by 9.67, or 0.30%, and finished at the level of 3,246.59 points. Meanwhile, …

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  • 25 September 2020 12:30 am

    Oil Maintains Rising Rally on Inventories Draw

    Oil prices closed higher on Thursday, following a decline in US crude inventories, as shown by recent data. Brent futures for November delivery increased by 17 cents, or 0.4%, and finished at $41.94 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for November delivery settled higher by 38 cents, …

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  • 25 September 2020 12:23 am

    Gold Rises For First Time This Week

    Gold prices rose on Thursday after three consecutive declines, amid higher demand for safe havens in light of uncertainties. In addition, the US Dollar (USD) is reversing a portion of its recent gains, moving in the negative territory. Gold futures for December delivery closed higher by $8.50, or 0.5%, at …

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  • 24 September 2020 11:53 pm

    Bullard Sees No Downturn in Case of COVID-19 New Wave

    A second wave of COVID-19 infections should not harm the recovery of the United States economy, considering that the death toll from the infectious virus is decreasing, President of the Federal Reserve Bank of St. Louis, James Bullard, said on Thursday, Reuters reported. Meanwhile, President of the Federal Reserve Bank …

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  • 24 September 2020 11:44 pm

    Fed’s Evans Calls for More Stimulus and Support

    President of the Federal Reserve Bank of Chicago, Charles Evans, said on Thursday that more support is needed for people amid the COVID-19 crisis. “We are taking a very serious and unnecessary risk if we do not extend federal assistance to out-of-work households.”“The longer the dual challenges of the pandemic …

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  • 24 September 2020 11:26 pm

    Fed’s Barkin Comfortable With 1.5-2.5% Inflation

    President of the Federal Reserve Bank of Richmond, Tom Barkin, said on Thursday that the new policy framework could help boost inflation expectations, noting that the risk of sudden rises in inflation in the future is low, Reuters reported. “While inflation has run below our 2 percent target, as I …

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  • 24 September 2020 11:06 pm

    European Stocks Return to Losses

    European stocks returned to losses on Thursday, closing lower for the day amid concerns about a second wave of COVID-19 infections. The STOXX Europe 600 index lost 1.05%, while the UK’s FTSE100 dropped by 1.30%. The French CAC40 index plunged by 0.89% and the German DAX index finished lower by …

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  • 24 September 2020 9:23 pm

    Uncertainty Looms Around BREXIT Trade Talks

    Ireland’s Minister of Foreign Affairs and Trade, Simon Coveney, recently said that the United Kingdom (UK) is making negotiations for a new trade deal with the European Union (EU) more difficult by pushing for legislation that undermines international law. “There is a growing sense that perhaps the United Kingdom does …

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  • 24 September 2020 7:21 pm

    US New Home Sales Rise in August

    New home sales in the United States increased by 4.8% to a seasonally adjusted annual rate of 1.011 million units in August, according to data released by the US Department of Commerce on Thursday. This is the highest level for new home sales since September 2006, according to Reuters. July’s …

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  • 24 September 2020 6:11 pm

    Wall Street Opens Lower as Jobless Claims Rise

    Wall Street opened lower Thursday as a sudden increase in jobless claims indicates that the labour market recovery is weak and that more financial support will be necessary to avoid another round of massive and temporary layoffs. The Dow Jones Industrial Average fell 47.04 points, or 0.18%, to 26716.09 points. …

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  • 24 September 2020 5:49 pm

    Johnson: Doing Everything We Can to Support Jobs

    British Prime Minister Boris Johnson said on Thursday that they are doing everything they can to support jobs and added that he fully supports the package of measures that they have jointly drawn up with Finance Minister Rishi Sunak. “Getting virus under control will be the best thing for jobs …

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  • 24 September 2020 5:12 pm

    US Weekly Initial Jobless Claims Edge Higher to 870K

    There were 870,000 initial claims for unemployment benefits in the US during the week ending September 19th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 866,000

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