Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 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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• 15 January 2021 4:41 pm

  China Records Highest Increase in New Cases of Coronavirus Since Last April

  

  The National Health Commission of China said today, Friday, that mainland China recorded 144 new cases of the new Coronavirus on January 14, up from 138 cases the day before. The commission said in a statement that 135 of the new cases were local cases, including 90 in Hebei Province, …

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• 15 January 2021 4:39 pm

  JPMorgan Bank’s Quarterly Earnings And Revenues Beat Expectations

  

  JPMorgan announced its quarterly results (Q4 2020), which were better than expectations. Earnings per share: $3.79 per share, versus expectations of $2.62 per share, according to Refinitiv Revenue: $30.16 billion, versus forecast $28.70 billion

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• 15 January 2021 3:14 pm

  BofA: Equities See $27 Billion Inflows as Reflation Trade Gathers Pace

  

  Weekly statistics on fund flows from Bank of America revealed that investors bought shares of financial companies and the energy sector last week, to initiate allocations in centres before US President-elect Joe Biden announced a stimulus package of $ 1.9 trillion. The US investment bank said, based on EPFR data, …

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• 15 January 2021 2:32 pm

  Gold Rises on Hopes of US Stimulus and Central Accommodative Policy

  

  Gold rose as the appetite for the yellow metal as a hedge against inflation was strengthened thanks to a large US package to mitigate the repercussions of Covid-19, while prices also received support thanks to a stance that tends to facilitate monetary policy on the part of the Federal Reserve …

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• 15 January 2021 1:16 pm

  European Stocks Fell on Fears of Lockdown

  

  European stocks are heading to end the week with a cautious performance, as the prospect of tighter lockdown measures in Germany and France, as well as new restrictions to combat COVID-19 in China, dampen optimism about the global economic recovery. The pan-European STOXX 600 index fell 0.5%, heading to close …

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• 15 January 2021 12:49 pm

  Oil Declining in Light of General Isolation Measures in China And US Unemployment Data

  

  Oil prices plunged as fears about Chinese cities being subjected to general isolation measures due to the outbreak of the Coronavirus curbed a rally driven by strong import data from the world’s largest crude consumer and US plans for a stimulus package. Brent fell 46 cents, or 0.8%, to $ …

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• 15 January 2021 2:39 am

  Fed’s Powell Vows to Continue Easing until Economy Recovers

  

  The Chairman of the United States Federal Reserve, Jerome Powell, said on Thursday that the Fed will continue its easing policy, keeping interest rates at record low levels for the foreseeable future, until the American economy recovers from the impact of the Coronavirus pandemic. “When the time comes to raise …

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• 15 January 2021 2:28 am

  Oil Closes Higher and WTI Finishes at Highest Level in 11 Months

  

  Oil prices returned to gains on Thursday, finishing higher on the back of the rollout of Coronavirus vaccines and positive sentiment towards the expected increase in government stimulus spending in the United States as planned by the new administration. Brent crude futures for March delivery gained 36 cents, or 0.6%, to …

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• 15 January 2021 2:19 am

  Gold Closes Lower as Treasury Yields Rise

  

  Gold prices declined on Thursday as the Treasury yields in the United States continued to rise and with the U.S. Dollar (USD) showing some rebound signs. The yellow metal futures for February delivery closed lower by $3.50, or 0.2%, at $1,851.40 per ounce. Meanwhile, silver futures for March delivery gained 23 …

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