Economic news

U.S. private payrolls reached their highest level in seven months in April. The expansion was mainly from an increase in production brought about by surging demand. This indicated that the economy was gaining tighter momentum on the government’s fiscal aid and coronavirus vaccinations. The country’s private payrolls recorded a 742,000 increase in April, the sharpest […]

The services industry of the United States posted a mild contraction in April. The deceleration could be attributed to shortages of inputs as the country’s large stimulus package and improving public environment boosted demand. The Institute for Supply Management’s non-manufacturing activity index was read at 62.7 in April. The reading placed lower than the 63.7 […]

The dollar reached a two-week high on Tuesday as risk appetite faded amid a stock sell-off. This came after U.S. Treasury Secretary Janet Yellen said that interest rates may need to increase to prevent the economy from overheating. The dollar’s safe-haven appeal was further supported when the Nasdaq slid over 2%, the S&P over 1%, […]

Oil prices climbed almost 1% on Wednesday, extending overnight gains after industry data showed U.S. crude inventories slid more than expected last week. The decline reinforced bullish views on fuel demand in the United States. U.S. West Texas Intermediate crude futures rose 0.9%, or 60 cents, at $66.29 per barrel, after rising to $66.45, its […]

Lyft Inc posted better-than-expected profits on Tuesday. More so, it pledged to deliver dependable and seasonally adjusted profits in the third quarter as cost reduction allowed the company to earn more. For five consecutive days, Lyft’s shares declined a total of 11%. They regained momentum to trade 5.2% higher during their after-hours trading on Tuesday. […]

Asian share markets traded cautiously for four consecutive sessions on Wednesday. This followed after investors’ sentiment was dampened by a tech selloff in Wall Street and rising interest rates in the United States. Holidays in Japan, China, and South Korea restricted shares from plunging, making MSCI’s broadest index of Asia-Pacific shares outside Japan stagnant. Japan’s […]

Gold had a lackluster start on Wednesday trade in Asia as the dollar strengthened and the interest rate hike concern grew. Gold futures lowered 0.60% to $1,781.10. The greenback, which usually moves inversely to gold, was up on Wednesday. According to U.S. Treasury, an interest rate hike might be put in place to cool down […]

A sharp decline in the tech sector overnight ahead of a new round of corporate earnings caused mixed results for European stock markets on Wednesday. Germany’s DAX futures gained 0.2%. CAC 40 futures in France declined 0.3%. The U.K.’s FTSE 100 futures contract improved 0.1%. In Wall Street, concerns of rising interest rates made investors […]

The dollar fell on Tuesday, following a surprise slowdown in U.S. manufacturing growth that prompted traders to trim bets on a stronger U.S. economy lifting the dollar. With Asia trade muted, the dollar rose from overnight levels to sit at 109.14 against the yen and at $1.2054 per euro. The euro climbed 0.3% overnight, boosted […]

Oil climbed over 1% on Monday as China’s economic figures and speedy U.S. vaccination rollouts pointed to a strong demand recovery in the world’s two largest economies. However, investors remain wary over worsening COVID-19 infections in India, along with an increase in OPEC+ oil supply. Brent crude increased by 1.2%, or 80 cents, at $67.56 […]