Economic news

Asian equities and U.S. futures were seen dropping on Thursday. The decline could be attributed to the U.S. Federal Reserve’s murky economic outlook, emerging tensions between Australia and China, and fresh coronavirus cases. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 1.24% drop. U.S. stock futures and e-minis for the S&P 500 plunged […]

Britain’s struggling economy is expected to take at least two more years to reach its pre-pandemic level, a Reuters survey showed. Though this is the case, there is only a narrow chance that the Bank of England will implement negative interest rates to fuel the recovery. In the third quarter, the economy had recorded a […]

On Thursday, China’s Commerce Ministry said that it would take “all necessary measures” to protect its companies’ legitimate interests in response to United States’ move to tighten its restrictions on Huawei Technologies Co. The Trump administration announced on Monday that it would expand restrictions to prevent the Chinese telecommunications equipment company from obtaining semiconductors without […]

On Thursday, Qantas Airways Ltd.’s (QAN.AX) Chief Executive Officer Alan Joyce stated that Australia’s state border closures would severely affect the country’s recovery from its global travel losses due to the coronavirus pandemic. It also added that the closures would lead to a significant financial loss by the end of the year. The largest Australian […]

The dollar stayed under pressure after falling to a 27-month low the previous session as doubts about U.S. economic recovery and the coronavirus fiscal aid weighed on the currency. The dollar hit new lows against its peers overnight as the Fed’s stimulus programmes weighed on it and lifted U.S. stock indexes to record peaks. The […]

Oil prices slid on Wednesday on worries that U.S. fuel demand may not improve as fast as expected. This came amid a deadlock in a new U.S. coronavirus fiscal aid, dwarfing a bigger-than-expected drop in U.S. crude inventories. Brent crude futures fell 0.7%, or 33 cents, at $45.13 per barrel. U.S. West Texas Intermediate crude […]

On Wednesday, Target Corp (TGT.N) reported its biggest second-quarter sales growth as it attracted millions of new customers online. The retail company announced that its same-store revenue went up by 80.3% to $1.7 billion. Most consumers purchased videogames, kitchenware, and clothes amid the coronavirus pandemic using Target’s same-day delivery services. According to Institutional Brokers Estimate […]

On Wednesday, Johnson & Johnson (JNJ.N) announced that it would acquire Momenta Pharmaceuticals Inc (MNTA.O) in a buyout deal worth $6.5 billion. The medical device company said that the acquisition deal would broaden its leadership in immune-mediated diseases and drive further growth. According to Johnson & Johnson, its company would have access to Momenta’s experimental […]

The S&P 500 finally closed at a record all-time high since February, erasing losses made earlier in the year when the COVID-19 pandemic started to put a dent in markets. While the Nasdaq also closed at a record high, the Dow still couldn’t pull through for a second consecutive session. The Dow Jones Industrial Average […]

Gold prices broke above the $2,000 mark, recovering from last week’s 5% plunge amid a slump in U.S. bond yields and a weakening Dollar. Gold futures for December delivery on Comex rose by 0.7% ($14.40) to $2,013.10 per ounce after it had peaked to a session high of $2,023.90. The spot price of gold, which […]