Economic news

The U.S. Federal Reserve’s holdings of bonds and other securities fell on its fourth consecutive week, dropping below $7 trillion, while one key emergency liquidity measure slid to zero. The market took this as a sign that financial damages caused by the coronavirus pandemic have eased. The Fed’s total balance sheet size fell $88 billion […]

Britain’s retail industry encouraged UK and EU negotiators to arrive at a post-Brexit trade deal. This came after the retail industry stated that consumers will endure higher prices from next year if a tariff-free trade is not guaranteed. Thousands of jobs have been lost in the retail industry as shoppers avoided the high street due […]

June had seen Japan’s wholesale prices dropping slower than May’s historic decline. This followed as commodity costs advanced and some of the virus-driven deflationary pressure eased on a rebound monitored in Chinese demand. The corporate goods price index (CGPI) recorded a 1.6% drop in June from a year earlier, data from the Bank of Japan […]

Asian shares and U.S. stock futures dropped on Friday. This followed after an upsurge in new coronavirus cases in several U.S. states dimmed the possibility of an economic recovery. Meanwhile, investors focused on corporate earnings. MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.76% decline. Australian stocks declined 0.43% as Japanese stocks shed […]

Oil prices fell on Friday, continuing steep losses from the previous session as concerns piled over a record surge in COVID-19 cases across the U.S., driving the black liquid for weekly declines. Brent crude futures dipped by 0.6% (25 cents) on Friday, trading at $42.10 per barrel at 0341 GMT after it plunged more than […]

The Dollar, as well as other safe-haven currencies, performed well on Friday even as recovery hopes were weighed down by a surge of COVID-19 cases in the U.S. Over 60,000 new cases were reported across the United States on Wednesday, a record hike in numbers in a single day. However, souring market sentiment helped buoy […]

The United States Labor Department reported on Thursday that jobless claims edged down to a near four-month low since last week, while 32.9 Million Americans collected unemployment benefits in the third week of June. The government agency stated that the labor market would take years to recover from the coronavirus pandemic. According to the released […]

Tesla Inc.’s (TSLA) Chief Executive Officer Elon Musk announced on Thursday that Wall Street’s most controversial stock might join the S&P 500 after the company’s market value has risen from $50 billion to more than $250 billion over a week. It equals the combined values of Toyota Motor Corp. (TYO), General Motors Co. (GM), Ford […]

American multinational automaker Ford Motor Co. (F.N) announced on Thursday that its vehicle sales increased by 3% from April to June in mainland China. It would be the first time that the company’s first quarterly sales rose in the world’s biggest auto market in nearly three years. A total of 158,589 vehicles were sold during […]

The U.S stocks increased on Wednesday and large technology companies lifted Nasdaq to another record close as investors continued to shrug off higher numbers of coronavirus cases in the United States. The Nasdaq Composite Index, led by Amazon.com (AMZN.O), climbed by 1.4% to 10,492.50 on its fourth record in five Wall Street sessions. Apple Inc […]