Economic news

European equities recorded a three-month low on Thursday. This could be attributed to a sell-off seen in global risk assets as the absence of a new U.S. stimulus package and the second wave of coronavirus infections dragged investors’ optimism over the global economic recovery. The pan-European STOXX 600 index recorded its worst session since June […]

Asian share markets were seen subdued on Thursday. Shares across the region were posed to record their weakest session in two months as warnings from U.S. Federal Reserve officials underscored investors’ sentiment over the global economic recovery from the coronavirus crisis. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 1.93% loss during the […]

On Thursday, ChargePoint Inc. announced that it would finally open an initial public offering (IPO) worth $2.4 billion. The California-based electric vehicle infrastructure company stated that it would merge with Switchback Energy Acquisition Corp. (SBE.N) by the end of the year. “Being ready to be public means that you’re investing in scaling the platforms you […]

On Wednesday, JPMorgan Chase & Co. (JPM) reported that it needs to spend at least $1 billion to resolve U.S. government investigations into the alleged market manipulation of metal stocks and Treasury markets. The New York-based investment banking company said that it was in discussions with U.S. authorities to resolve the investigations. According to JPMorgan, […]

Gold prices fell earlier on Wednesday in Asian markets after the Dollar found strength in cheery housing market data in the U.S. despite the growth in COVID-19 cases. Gold futures lost 1.01%, trading at $1,888.04 per ounce at 12:46 PM ET (04:46 AM GMT). Recent housing market data in the U.S. bolstered the Greenback on […]

The Dow remained mostly unchanged on Tuesday after it struggled to find direction after gains in tech stocks were offset amid weak financial stocks. Market sentiment was further dampened by a resurgence of COVID-19 cases globally as well as a lack of additional fiscal stimulus packages. The Dow Jones Industrial Average inched up by 0.30% […]

The euro dropped to a two-month low on Wednesday as upbeat U.S. economic data and worries about a second coronavirus wave met tepid European indicators and lifted the dollar. Against the euro, the dollar rose up to $1.1671, its highest since end-July, after Germany’s private sector recovered less than expected in September amid weak local […]

Oil prices slid on Wednesday after an industry group reported a sudden rise in U.S. crude inventories, adding to demand fears that prompted a selloff earlier this week. Brent crude fell 0.7%, or 30 cents, at $41.42 per barrel following a 28-cent gain on Tuesday. U.S. crude was down 0.9%, or 34 cents, at $39.46 […]

Asian share markets were seen subdued on Wednesday, while the U.S. dollar recorded a two-month peak. This followed after investors’ sentiment was dampened by persistent worries about the global economic recovery, prompting them to resort to safer assets. MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.3%, recording its first gain this week. Japan’s […]

September had seen Japan’s factory activity declining further as output weakened. This followed after the country struggled to maintain the economy’s recovery from the coronavirus crisis. The au Jibun Bank Flash Japan Manufacturing Purchasing Managers’ Index (PMI) was read at 47.3 in September, placing a shade higher than the 47.2 reading seen in August.  Meanwhile, […]