Economic news

Oil prices fell on Friday, dropping further from 11-month highs hit last week, weighed down by concerns that renewed COVID-19 lockdowns in China will affect fuel demand in the country. U.S. West Texas Intermediate crude futures eased 1%, or 53 cents, at $52.60 per barrel following an 18-cent fall on Thursday. Brent crude futures dropped […]

The S&P 500 and Nasdaq posted fresh record highs on Thursday hovered by optimism about more pandemic relief from the Biden administration to lift the virus-hit economy. The Nasdaq Composite improved its best record, advancing 73.67 points, or 0.55%, to 13,530.92 after getting a big boost from soaring shares of megacap stocks such as Alphabet […]

Britain’s retail sales data released on Friday showed weak growth in December as British retail outlets and shops resumed business operations coming off a four-week lockdown in November to help curb coronavirus spread. Meanwhile, public borrowing this financial year soared, hitting a new record high. Retail sales volumes posted a 0.3% increase in December, missing […]

BlackRock Inc., a global investment manager and technology provider, is adding bitcoin futures as an eligible investment to two funds, according to a company filing. With this development, Bitcoin continues to expand its reach to the mainstream financial system. The U.S.-based asset manager said it could use bitcoin derivatives for its funds BlackRock Strategic Income […]

Wall Street closed Wednesday trading on a high note, posting a new record high as Joe Biden was sworn in as the 46th U.S. president, while solid turnouts from Netflix mounted a rally in shares. Shares of Netflix spiked 16.85% after the world’s largest streaming service announced it would no longer be borrowing billions of […]

Asian share markets recorded an upbeat performance on Thursday, tracking Wall Street’s rally. The series of gains could be attributed to investors’ enthusiastic mood as the inauguration of U.S. President Joe Biden brought in hopes for more economic stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.85% higher to touch a new record […]

The dollar fell on Wednesday and the euro held on to gains as the sentiment improved amid big spending talk from U.S. Treasury Secretary nominee Janet Yellen. The euro rose from support around $1.2050, gaining nearly 0.4% overnight to hit $1.2145. It held near that level in Asian trade. The risk-sensitive Aussie and kiwi rose […]

Asian shares skyrocketed on Wednesday, hitting a new record high as U.S. Treasury Secretary nominee Janet Yellen proposed a hefty fiscal relief package in light of lifting the pandemic-hit economy. MSCI’s Asia-Pacific index outside Japan soared 0.95%, posting its best record ever. Hong Kong’s Hang Seng added 1.0%, nearing its highest level in 2019 while […]

The dollar fell from a near-one-month high on Tuesday as traders became wary before U.S. Treasury Secretary nominee Janet Yellen testifies later. The dollar index fell 0.1% to 90.708 in Asian trade, a day before President-elect Joe Biden is scheduled to be inaugurated. The dollar started the year with a near-2% rally against its peers, […]

Brent crude futures rose on Tuesday as hopes that the government will support global economic recovery and oil demand offset worries about renewed lockdowns affecting fuel consumption. Brent crude futures for March delivery were up 0.3%, or 17 cents, at $54.92 per barrel following a 35-cent slip in the last session. U.S. West Texas Intermediate […]