Economic news

Nike Inc (NKE.N) beat estimates for quarterly income on Tuesday as strong digital market covered the first China sales drop in nearly six years from the coronavirus-powered shutdowns, yet the company held back from providing an estimate forecast due to the unrelenting pandemic. The coronavirus outbreak forced Nike to temporarily close down stores to help […]

Asian shares continued to rally on Wednesday with Wall Street recovering from major losses as U.S. Congress drew near to rolling out a $2 trillion stimulus package in a response to aid a virus-hit economy. MSCI’s broadest index of Pacific Asia outside of Japan advanced by 1.7%. Meanwhile, Japan’s Nikkei soared by 4.8%.  Shares in […]

WASHINGTON – The United States and China have gained progress in achieving the agriculture-related agreements of a Phase 1 trade deal that produced results on February 14, the U.S. Department of Agriculture (USDA) and U.S. Trade Representative said on Tuesday. In a joint announcement, they recorded advanced steps taken that should help support U.S. exports […]

Oil prices rally amid decline in crude supply Oil prices maintained gains on Asian markets on Wednesday following the report of the American Petroleum Institute (API) on a decline in U.S. crude supply. International Brent Oil Futures went up by 3.46% to $28.09 by 10:12 PM ET (02:12 AM GMT) while U.S. Crude Oil WTI Futures […]

Softbank Group Corp stock climbed 20% on Tuesday as it extended a two-day rally after the company announced a $41 billion in asset sales and a record share buyback to support its declining share price. Softbank shares closed with a 19% gain on Monday following an announcement to repurchase 4 trillion yen ($18 billion) of […]

Gold prices continued its climb after the U.S. Federal Reserve announced on Monday new measures in a bid to shore up an economy affected by the coronavirus. In the unexpected announcement, the Central Bank said that it would be buying an infinite amount of Treasury and mortgage-backed securities in order to lower borrowing costs. In […]

India stocks rose, taking back ground after record losses on Monday after investors picked stocks that have dropped significantly as the nation goes into lockdown to limit the spread of the COVID-19. The S&P BSE Sensex gained by 1% to 26,239.96 as of 9:47 AM in Mumbai. Meanwhile, the NSE Nifty 50 Index had also […]

President Donald Trump said on Monday he is seeing how to resume the U.S. economy when a 15-day shutdown ends next week, even as the highly epidemic coronavirus is spreading quickly and hospitals are preparing for a wave of virus-related deaths. “America will again and soon be open for business,” Trump said in a White […]

The dollar traded red on Tuesday on signals that secured funding conditions are easing slightly after the U.S. Federal Reserve decided to give bottomless quantitative easing to offset and ensure greenback liquidity. The dollar index =USD shed 0.5% to 101.64. It strayed farther from Friday’s upbeat performance of 102.99, its strongest session since January 2017. […]

Oil prices gained on Tuesday as investors hope for a fast approval regarding the U.S. lawmakers’ proposed $2 trillion coronavirus aid package. The aid package is expected to ease the pandemic’s impact on the global economy, while underpinning oil demand. Brent crude oil futures was up 2.3%, or 62 cents, at $27.65 per barrel. West […]