Economic news

The dollar recovered from two-year lows on Wednesday as U.S. data showed strong manufacturing activity, while the euro fell from its highest levels since 2018. U.S. manufacturing activity rose to a near two-year high in August amid a surge in new orders. Chinese and European manufacturing indicators also reported upbeat data. The dollar index rose […]

Crude oil futures extended gains on Wednesday amid a larger-than-expected drop in U.S. crude inventories and a stronger U.S. and Chinese factory activity. The news boosted optimism in fuel demand recovery and lifted risk appetite in the market. Brent crude futures climbed 45 cents to $46.03 per barrel. U.S. West Texas Intermediate futures were up […]

The S&P 500 and the Nasdaq both reached record highs on Tuesday. This could be attributed to a jump in technology-related stocks as Apple and Zoom Video greatly advanced. Meanwhile, upbeat economic data and stimulus talks in Washington bolstered investors’ sentiment. Tuesday marked Wall Street’s fifth month of gain as the S&P 500 hit its […]

A rally in tech-related stocks and upbeat manufacturing indicators in the United States sent Asian shares up on Wednesday. Meanwhile, additional policy support expected from Washington also supported the jump. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.25% gain. Japan’s benchmark index Nikkei jumped 0.35%. Mainland Chinese shares were seen a shade […]

On Tuesday, Uber Technologies Inc (UBER.N) announced that it would roll out a global selfie feature to verify customers if they are wearing a mask. Uber established a “No Mask No Ride” policy on May 2020 which was extended due to the ongoing pandemic. Both drivers and riders were required to wear a face mask […]

On Tuesday, Tesla Inc. (TSLA) said that it plans to raise $5 billion through a share sale program. The move came after Tesla announced its 5-for-1 stock split on Monday. “This move may lead to higher retail shareholding. You are providing a good entry point. It is enabling split into smaller fractions, in turn enabling […]

August had seen Asian factories emerging from the disruptions brought by the coronavirus. This followed after encouraging signs in China fuelled optimism for a stronger rebound in global demand, relieving policymakers from the pressure of implementing necessary measures to avoid a deeper recession. China’s Caixin/Markit Manufacturing Purchasing Managers’ Index reached 53.1 in August. This came […]

South Korean exports declined for six consecutive months ended August. The drop followed after working days were reduced. Meanwhile, global demand was seen recovering as lockdown measures in key trading partners were lifted. August had seen outbound shipments dropping 9.9% from a year earlier, government data showed. The decline came faster than the 7.1% drop […]

The dollar dropped to multi-year lows against its peers on Tuesday as the U.S. Federal Reserve’s shift in policy framework fueled speculation that U.S. rates will remain lower for longer.  The Aussie stood at a two-year high against the dollar as traders awaited a Reserve Bank of Australia meeting later in the day. The yen […]

Oil prices gained in early trade on Tuesday, recovering overnight losses, as investors turned to risky assets and away from the safe-haven dollar, which fell to more than a two-year low. Brent crude futures rose 0.6%, or 27 cents, at $45.55 per barrel. U.S. West Texas Intermediate crude futures climbed 0.5%, or 21 cents, at […]