Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 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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• 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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