Economic news

The Dollar found support on Wednesday as a surge in U.S. bond yields pushed the U.S. currency above the Japanese Yen, lifting hopes for a speedier economic recovery. The yield on U.S. debt saw a sharp gain in two months just ahead of a massive $38 billion auction scheduled for later in the day, improving […]

Gold continued its two-day rout on Tuesday, falling sharply below the $1,900 mark after it plummeted more than 5% earlier in the week. Spot gold plunged as much as 2.1%, closing at $1,872.61 per ounce after trading at a high of $1,883.29 at 10:11 AM ET (0211 GMT). Meanwhile, gold futures also fell on the […]

Britain reported its biggest drop in the number of employed individuals as a sign that the COVID-19 pandemic could take a heavier toll on the labor market after the government eases its job-protection scheme. Figures released on Tuesday showed that the number of people in employment fell by 220,000 people from a three-month period through […]

European shares reached a three-week high on Tuesday after automakers saw a surge in car sales in China, lifting hopes of an economic recovery from the COVID-19 pandemic. The pan-European STOXX index gained 1.6%, with the rally being led by stocks from travel and leisure companies, miners, and energy firms. The U.K.’s FTSE index gained […]

The dollar maintained its gains on Tuesday after climbing to a one-week peak on the euro. The greenback’s steady gain is in light of the U.S.-China tensions and the deadlock on the U.S. coronavirus aid supporting safe-haven sentiment. The U.S.-China tensions escalated after a round of exchanges between the two countries, including Beijing’s sanctions on […]

Crude oil rose on Tuesday as prices were supported by hopes for a U.S. coronavirus stimulus and a boost in Asian demand amid reopening economies. Brent crude rose 0.5%, or 22 cents, at $45.21 per barrel. U.S. West Texas Intermediate crude grew 0.8%, or 32 cents, at $42.26 per barrel. Prices gained a floor after […]

On Monday, leaders of major companies in the United States, including banks and technology giants, decided to form a group to increase job hiring from minority communities in New York. The New York Jobs CEO Council consisted of chief executives from 27 different companies. The group would hire 100,000 workers from low-income Black, Latino, and […]

The S&P 500 reached an all-time high on Monday as investors ignored rising United States-China tensions to focus on President Donald Trump’s orders that could lead the economy’s recovery from the coronavirus pandemic. S&P 500’s benchmark index would open at 12 points lower than its February 19 record peak of 3,393.52. Amazon.com (AMZN.O), Netflix Inc […]

Asian stock markets were seen upbeat on Tuesday. This followed after investors were greatly relieved that growing tensions between China and the United States do not directly impact trade. More so, optimism for U.S. stimulus drove oil and commodity prices up. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 1%. Japan’s benchmark index Nikkei […]

July had seen China’s automobile sales advancing 16.4% from a year ago. This came to be the industry’s fourth consecutive month of gains as the world’s biggest vehicle market emerges from low levels brought by the coronavirus pandemic. Last month, sales advanced to 2.11 million vehicles. However, the record is still down 12.7% for the […]