Markets

Oil climbs as slowing COVID-19 cases spur hopes of a demand recovery

Oil prices rose on Tuesday as slowing new coronavirus cases sparked hopes of a demand recovery. West Texas Intermediate crude rose 2.4% to $US42.94 per barrel, while international benchmark Brent crude gained nearly 2% to $US45.78 per barrel at intraday highs Tuesday. On Monday, oil also got a boost after […]
Oil climbs as slowing COVID-19 cases spur hopes of a demand recovery
Markets

Oil jumps 4% to the highest in 5 months after the EIA reports an inventory drop

Oil prices rose Wednesday to the highest level since March after the Energy Information Administration reported that crude inventories fell last week by 7.4 million, more than analysts expected. West Texas Intermediate crude gained 4.4% to $US43.52 per barrel. International benchmark Brent crude rose 4.1% to $US46.23 per barrel at […]
Oil jumps 4% to the highest in 5 months after the EIA reports an inventory drop
Markets

Dow climbs 230 points as investors gear up for earnings season

US stock indexes rose on Monday as investors prepared for upcoming earnings reports, which will provide details around the impact of coronavirus on companies. PepsiCo gained after revealing better-than-expected sales to kick off earnings season. Pfizer and BioNTech gained jumped after two of the firms’ COVID vaccine candidates received “fast […]
Dow climbs 230 points as investors gear up for earnings season
Markets

US stocks trade mixed as jobless claims fall for another week

US equities traded mixed on Thursday after weekly jobless claims came in lower than economist expectations. Unemployment insurance claims made last week declined to 1.3 million, the Labour Department announced Thursday. Economists surveyed by Bloomberg expected a reading of 1.38 million. Tech mega-caps rallied higher as investors continued to pile […]
US stocks trade mixed as jobless claims fall for another week
Markets

Dow slips 220 points as spiking COVID-19 cases dent economic-reopening hopes

US equities slid on Tuesday as spiking COVID-19 infections across the nation revived fears of a lengthy economic downturn. A new report from the Organisation for Economic Co-operation and Development described the virus’s labour-market fallout as “far worse than” that seen during the financial crisis. Economic-reopening plays including airlines and […]
Dow slips 220 points as spiking COVID-19 cases dent economic-reopening hopes
Markets

Nasdaq closes at record as traders cheer strong jobs report

US equities rose on Thursday after June’s jobs report trounced estimates and lifted hopes for a swift economic recovery. The tech-heavy Nasdaq Composite index closed at a record high. American businesses added 4.8 million payrolls last month, according to the Bureau of Labour Statistics, handily beating expectations of a 3 […]
Nasdaq closes at record as traders cheer strong jobs report
Markets

Dow surges 440 points after US adds way more jobs than expected in June

US equities soared on Thursday after June’s jobs report trounced estimates and lifted hopes for a swift economic recovery. American businesses added 4.8 million payrolls last month, according to the Bureau of Labour Statistics, handily beating expectations of a 3 million payroll increase. The unemployment rate fell to 11.1%, below […]
Dow surges 440 points after US adds way more jobs than expected in June
Markets

US stocks climb, Nasdaq hits record as investors pile into tech giants

US equities climbed on Tuesday as positive data releases fuelled new hopes for a swift economic recovery. New home sales leaped 16.6% in May to a seasonally adjusted annualized pace of 676,000, besting economists’ estimate of 640,000. IHS Markit’s index of US purchasing managers rose to 46.8 in June from […]
US stocks climb, Nasdaq hits record as investors pile into tech giants
Markets

Dow dives 700 points on mounting fears of a 2nd virus wave

US equities sank on Monday as investors turned less optimistic towards a sharp economic recovery. Fears of a second wave of COVID-19 cases intensified, with Texas and North Carolina reporting record hospitalizations on Saturday. California, Alabama, and Florida notched sharp increases in daily cases. Airline stocks including Delta, United, and […]
Dow dives 700 points on mounting fears of a 2nd virus wave