Economic news

 On Friday, global share markets were underpinned by U.S. Treasury Secretary Steven Mnuchin’s decision of nullifying some the country’s coronavirus relief programs.  The cancellation of funds for struggling businesses sparked a dispute between the Federal Reserve and the Department of Treasury. In Asia, Japan’s benchmark index Nikkei recorded a 0.5% drop as South Korea’s KOSPI […]

Stock market futures in the United States had seen a dampened session on Thursday. This followed after Treasury Secretary Steven Mnuchin cancelled some of the Federal Reserve’s emergency lending program for the coronavirus pandemic. Futures for the S&P 500 recorded a 0.75% drop. The plunge came after Mnuchin mandated the central bank to return the […]

Global shares rose to record highs for a third straight session as positive news about COVID-19 vaccines relieved worries about rising coronavirus infections and related economic damage. Pfizer Inc shares climbed 0.78% after the drugmaker announced that its COVID-19 vaccine was 95% effective. Pfizer is also applying for emergency authorization from the United States within […]

The dollar fell on Thursday following five straight days of decline, while the yen held onto most of its recent gains. Investors worried about increasing COVID-19 deaths and started to bet on additional stimulus aid from the U.S. Federal Reserve. The dollar index stood at 92.549, falling 0.2% so far in the week. It is […]

Oil futures slid on Thursday, slashing yesterday’s gains as a spike in coronavirus infections and stricter lockdowns globally offset fears over fuel demand and outweighed positive vaccine news.  Brent crude futures fell 0.4%, or 17 cents, at $44.17 per barrel following a 1.4% gain on the previous day. U.S. West Texas Intermediate crude dropped 0.7%, […]

Tesla TSLA.O had seen a 10% increase in its shares, placing near a record peak on Wednesday. The jump came to be the company’s second day of gain after it was reported that the electric car maker’s shares will be listed under the S&P 500 index. The California-based company’s shares advanced nearly 20%. The increase […]

After a late selloff on Wednesday, shares in the United States recorded a dampened session. This came after investors’ vaccine-driven sentiment was hurt by an upsurge in new COVID-19 infections and newly implemented restrictions in a bid to control the coronavirus pandemic. While Wall Street’s major indexes advanced, with economically sensitive cyclicals and small caps […]

Asian share markets withdrew from their all-time peak records on Thursday. The series of decline came after Wall Street was greatly affected by fresh coronavirus restrictions in the United States. Meanwhile, bonds were restricted by speculations that the Federal Reserve would implement more monetary easing. Commendable pandemic approach seen across Asia had prevented major losses. […]

European stocks fell on Wednesday as fears about additional economic damage and renewed restrictions due to rising coronavirus cases weighed on news about promising vaccine trial results.  The pan-European STOXX 600 fell for a second straight day after sliding 0.4%. Real estate .SX86P and energy stocks .SXEP dropped, while tech stocks .SX8P rose. Britain’s RSA […]

Federal Reserve Chair Jerome Powell said it was not time to halt emergency programs that prevent the economy from collapsing amid the coronavirus pandemic. His comment came amid a surge in coronavirus cases, signalling that economic recovery is far from anticipated. Extending the programs would require the approval of the Treasury under the Trump administration. […]