Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 7 July 2020 1:49 am

  Oil Prices Settle Mixed on Monday

  

  Oil prices showed a mixed performance at the beginning of the week, with rising COVID-19 cases in the US casting their shadow on US crude, while expectations of a global demand recovery helped Brent crude finish Monday on a higher note. Global benchmark Brent crude oil futures for September delivery …

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• 7 July 2020 12:50 am

  Little Change Seen in Global Stocks by July 2021

  

  Global stocks are expected to remain mostly unchanged from their current levels by this time next year, according to a recent report by Citi bank, CNBC reported. This comes as bullish and bearish forces would cancel each other out. Citi remains overweight in the US and emerging market equities with …

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• 7 July 2020 12:06 am

  French Economy to Rebound during Q3

  

  The Central Bank of France is expecting the French economy to recover during the third quarter (Q3) of 2020. The second-biggest economy in the Eurozone could grow by an unprecedented 14% in Q3 of 2020, if business activity remains at the current levels, Reuters reported, citing forecasts by the central …

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• 6 July 2020 11:51 pm

  USA: Pandemic Aid Saved 51.1 M Jobs

  

  The US Department of Treasury and the Small Business Administration (SBA) announced that government support to businesses helped save 51.1 million jobs or 84% of the small business workforce. A total of $521.4 billion of financing to employers have already been approved, as part of a $660 billion COVID-19 pandemic …

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• 6 July 2020 11:34 pm

  Gold Settles Higher on Dollar Woes

  

  Gold prices rose on Monday, nearing its highest level in about a week, despite an increased risk appetite among investors. However, the rise in the yellow metal prices is mainly attributed to the Dollar’s decline. Gold futures for August delivery rose by $3.50, or 0.23%, to settle at $1,793.5 per …

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• 6 July 2020 11:28 pm

  Amazon Stock Hits New All-Time High

  

  The stock of Amazon is up by more than 5% for the day, trading above $3,037, as of 7:20 p.m. GMT. This is the first time for the Amazon share price to exceed $3,000. The online retailer is one of a few businesses that benefited from the COVID-19 pandemic, with …

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• 6 July 2020 10:35 pm

  BoC: Businesses in Canada Expect Weak Demand

  

  The overall Business Outlook Survey indicator fell sharply, with most constituent indicators declining to levels well below their historical averages, according to the Bank of Canada (BoC) Business Outlook Survey for the summer of 2020. Businesses in Canada expect weakness in domestic and foreign demand due to the effects of …

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• 6 July 2020 9:55 pm

  Stability Foreseen for Copper Prices in Q3 and Q4

  

  Market experts are expecting copper prices to stabilize during the second half (H2) of 2020, despite the surge it saw in the second quarter (Q2) of the year, CNBC reports. The three-month copper futures are trading, on the London Metal Exchange (LME), above $6,000 per ton since the end of …

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• 6 July 2020 8:38 pm

  European Stocks Close Higher on Positive Data

  

  European stocks closed higher on Monday, supported by a positive sentiment among investors, thanks to economic data signaling a near recovery in the Eurozone. The pan-European STOXX Europe 600 gained 1.55% and closed at 371.09. In the London Stock Exchange, main index FTSE100 added 2.1%. Benchmark French index CAC40 increased …

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• 6 July 2020 7:50 pm

  Boston Fed: Main Street Program Ready to Go

  

  The Main Street Lending Program is now operational and ready to purchase eligible loans, said the Federal Reserve Bank of Boston on Monday. The Fed branch in Massachusetts encouraged lenders to start submitting qualifying loans, Reuters reported. Members of the US Federal Reserve Board have agreed to use all of …

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• 6 July 2020 7:31 pm

  US Non-Manufacturing PMI Displays Recovery in June

  

  The US non-manufacturing services sector activity showed a strong recovery during June, nearing a return to its levels before the COVID-19 pandemic. The ISM Non-Manufacturing Purchasing Managers’ Index (PMI) for June increased to 57.1, compared to its reading in May at 45.4, and an expected reading of 50.1. This is …

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• 6 July 2020 7:06 pm

  IHS Markit: US Services Sector Showing Softer Contraction

  

  Seasonally adjusted IHS Markit US Services Business Activity Index registered 47.9 at the end of the second quarter (Q2) of 2020. This comes after the index recorded a reading of 37.5 in May, thus, showing a softer rate of contraction in business activity across the US. The IHS Markit Composite …

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• 6 July 2020 6:26 pm

  Uber to Acquire Postmates in $2.65 B Deal

  

  Uber Technologies announced that it plans to buy Postmates for a price of $2.65 billion, Reuters reported. The ride-hailing app developer aims to expand its footprints in the food-delivery business. Uber recently considered acquiring Grubhub, a US-based online food delivery company that entered last month into an acquisition deal by …

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