Market Overview - Page 285

Gold’s Outperformance of Stocks Could Be EndingOver the past year, gold prices have surged nearly 25%. That’s on top of gains the metal has shown since 2016. In the same period, stocks have dealt with a swift and massive bear.

The damage to labor markets from the coronavirus is proving worse than anticipated, according to the International Labour Organization, which also sees a much slower recovery at the end of this year. The ILO said that global working hour losses.

The increase in the number of new COVID-19 cases in Europe has hurt business activity indices. One after another, preliminary PMI estimates from European countries fell short of expectations. The service sector of the euro area has returned to decline..

U.S. equity futures advanced with European stocks as markets built upward momentum after the September selloff cut valuations. Gold slipped below $1,900 an ounce. Futures on the Dow Jones Industrial Average outperformed those on the Nasdaq 100 as bulls showed.

JPMorgan Chase & Co. is moving about 200 billion euros ($230 billion) from the U.K. to Frankfurt as a result of Britain’s exit from the European Union, a shift that will make it one of the largest banks in Germany..

Euro zone business growth ground to a halt this month, throwing the economic recovery into question, as fresh restrictions to quell a resurgence in coronavirus infections slammed the services industry into reverse, a survey showed on Wednesday. The renewed downturn.

Investors slashed $50 billion from Tesla Inc’s market value on Tuesday despite CEO Elon Musk’s promise to cut electric vehicle costs so radically that a $25,000 car that drives itself will be possible, but not for at least three years..

The two US economic policymakers, the Fed Governor and Treasury Secretary are supporting interest in US assets, strengthening both the dollar and the equity market yesterday. Mnuchin and Powell noted during the Congressional hearing that the US economy is recovering.

President Donald Trump has said the 200,000 US deaths from coronavirus were “a shame” in response to a reporter’s question about the milestone in the country’s fight against the pandemic. As Trump was departing for an election campaign event in.

Chinese fervor for online shopping waned in August, a sign that the world’s second-largest economy still faces many challenges as it tries to boost consumption at home. The Chinese government is trying to develop domestic demand as the primary driver.

Any digital currency released in the European Union may not fully replace fiat, said the President of the European Central Bank, Christine Lagarde. Speaking at an online meeting of the Franco-German Parliamentary Assembly on Sept. 21, Lagarde stated that the.

Stocks rose on Tuesday, recovering some of the steep losses from the previous session, as Amazon led shares of Big Tech higher. The S&P 500 traded 0.7% higher. The Nasdaq Composite climbed 1.2%. The Dow Jones Industrial Average advanced 82.