Economic news

Oil prices fell over 1% on Friday, adding to declines sustained overnight, on fears that refineries won’t resume operations soon following a deep freeze in the U.S. South.  Brent crude futures dropped 1.4%, or 87 cents, at $63.06 per barrel. U.S. West Texas Intermediate crude futures lost 1.4%, or 82 cents, at $59.70 per barrel. […]

Japan’s core consumer prices posted another month of decline, hitting their sixth straight month of weak records in January. However, their pacing came slower than usual, bringing in some relief for policymakers as the economy suffers from the coronavirus crisis. Core consumer prices recorded an annualized 0.6% contraction in January, government data showed on Friday. […]

Asian share markets retreated from their all-time record peaks on Friday. The series of declines followed after longer-dated bond yields advanced and U.S. economic figures plunged, greatly dragging investors’ hopes for a rapid economic rebound from the coronavirus crisis. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.1% lower, easing from its 745.89 record […]

The dollar held its ground on Thursday following back-to-back gains in two weeks as upbeat data lifted hopes for a faster U.S. pandemic recovery relative to its peers. Investors expect a bigger boost from Biden’s planned $1.9 trillion coronavirus stimulus aid, with the president meeting with top labor leaders to ramp up support. The dollar […]

Oil prices gained nearly $1 on Thursday, extending this week’s gains and reaching 13-month highs as a cold front shut down Texas oil wells and refineries, curbing a million barrels of crude production.  Brent crude rose 1.5%, or 93 cents, at $65.27 per barrel, its highest since Jan. 20, 2020. U.S. West Texas Intermediate crude […]

After a five-day slump, gold goes back to the winning track on Thursday in Asia, but its closing price just hovered near to its lowest level in over two months. The modest bounce-back was due to the strengthening dollar and growing optimism for a global economic recovery from the pandemic holding off demand for the […]

Tesla Inc has revamped its prices for its Model 3 and Model Y variants. Its official website reflected an increase in the prices of carmaker’s Performance variants and a reduction in the cost of cheaper variants. Tesla’s Model 3 Standard Range Plus was trimmed to $36,990 from $37,990. The Model Y Standard Range’s cost was […]

The Nasdaq ended its session negatively, while the S&P 500 made minimal movements on Wednesday. This could be attributed mainly to investors’ withdrawal from technology shares, with concerns about inflation contributing to stocks’ weak performance.  Technology shares declined the most, greatly dragging the tech-heavy Nasdaq and the S&P 500. Apple Inc, Paypal Hodings Inc, and […]

Chinese shares were seen upbeat on Thursday, recording their first session of gains after the country celebrated the Lunar New Year. Renewed optimism for an increase in global growth heavily fueled enthusiasm, but other markets across Asia were hurt by investors’ withdrawal from shares. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.15% […]

The dollar rose on Wednesday, reaching a four-month high against the Japanese yen as U.S. bond yields rose amid hopes for economic recovery and faster inflation.  The dollar index bounced to 90.681, back from a three-week low of 90.117 hit on Tuesday. A rise in U.S. bond yields also supported the dollar, with the 10-year […]