Markets Lower as COVID-19 Cases ex-China Surge
COVID-19 UPDATE Confirmed cases of coronavirus outside China have continued to rise following the surge over the weekend. Monday saw Italy record 77 more cases to have 229 infections and 7 deaths, a far cry from Friday when only 3 cases had been confirmed. South Korea also reported 60 more cases and confirmed infections now…
Read MoreIMF Declares Argentina Debt Unsustainable Paving Way for Creditor Losses
COVID-19 UPDATE South Korea reported its first death from the coronavirus on Thursday bringing to five, the number of countries ex-China that have recorded fatalities from the virus. The number of new confirmed cases slowed to 484 on Wednesday, down from 1,412 on Tuesday. The number of deaths also slowed to 112 from Tuesday’s 137…
Read MoreSajid Javid Resigns as UK Chancellor after Power Struggle with Boris, Cummings
UNITED STATES US Stocks were hurt after the sharp increase of corona virus cases on Wednesday in China. The Dow Jones Industrial Average was down 0.43% while the Nasdaq Composite and the S&P closed at -0.14% and -0.16% respectively. US Treasury yields opened lower today after the Chinese numbers were out. This created a 3.5…
Read MoreLebanon Parliament Passes Vote of Confidence in New Government
UNITED STATES The S&P and the NASDAQ inked out fresh records in Tuesday’s session closing 0.17% and 0.11% higher respectively as investor optimism grew with signs of slowing in the spread of the coronavirus, now officially named Covid-19; the number of new confirmed cases slowed on Monday following a surge over the weekend. The DOW…
Read MoreTurkey Markets Roil as Idlib Conflict Escalates
UNITED STATES US stocks started the week on a high with stocks notching records as investors focused on solid Q4 earnings. Restaurants Brands International, parent company of Burger King and Popeyes, closed 2.7% higher as Q4 earnings topped expectations on the back the popular Popeyes chicken sandwich. The NASDAQ and the S&P inked fresh records…
Read MoreRussia Signals More Easing Following Sixth Straight Rate Cut
UNITED STATES A stellar jobs report on Friday was not enough to swing US stocks to the upside on Friday although stocks recorded gains for the week. The US economy added 225,000 jobs in January versus a 165,000 gain according to a MarketWatch poll with unemployment ticking up slightly to 3.6%. The DOW led the…
Read MoreSlump in German Production Returns Fears of Continued Eurozone Stagnation
UNITED STATES The tariff reduction on $75 billion of US goods by China buoyed Wall Street on Thursday to close at fresh records. The 50% reductions, effective February 14, are on retaliatory tariffs imposed in September and December during an escalation in the trade war. The NASDAQ gained 0.67% while the S&P and the DOW…
Read MoreEurozone Services Start 2020 on a Solid Note
UNITED STATES US stocks closed in the green for a third straight day as the Wall Street rebound continued amid indications that the economic impact of the coronavirus could be blunted. Reports surfaced on Wednesday that UK researchers had made progress in lab tests while a Chinese research team claimed a cocktail of drugs could…
Read MoreBank of England Holds Rates but Lowers Growth Forecast
UNITED STATES US stocks rebounded from the slide earlier in the trading session on Thursday to close higher as investors looked past coronavirus scares. The World Health Organisation declared the situation a public health emergency but expressed confidence in China’s ability to deal with it. Earnings outperformance by Coca-Cola and Microsoft notably also spurred stocks…
Read MoreStocks Rebound on Momentum from Positive Earnings
UNITED STATES US stocks rebounded on Tuesday following the sell-off on Monday, the biggest since October. Positive earnings and positive economic data outweighed concerns over the spread of the coronavirus to lift stocks with Apple notably rising 2.83% on the day after reporting an 11% rise in net profit. Durable goods orders rose 2.4% in…
Read More