Market Overview - Page 322

President Xi Jinping pledged to provide a better business environment for foreign firms as the U.S. pushes to rewire supply chains in Asia and Chinese companies come under increased scrutiny abroad. “We will continue efforts to deepen reform and opening,.

China reported that the country’s GDP grew by 3.2% in the second quarter of this year, compared to a year ago — beating analysts’ expectations and rebounding from the first quarter’s contraction. It comes as lockdowns to contain the coronavirus.

Hang Seng lost 2.2% this morning, while the FTSE China A50 sank 3.3%. China’s economy showed higher growth than expected in the second quarter, but it failed to bring optimism to the markets. Pessimism around China is pushing down the.

The S&P 500 index on Wednesday was on track to beat the technology-heavy Nasdaq Composite for a fourth straight session, a feat scored only twice since Wall Street launched its massive recovery last March. The recent outperformance of the most-followed.

OPEC is facing “the worst of both worlds” with the current oil market demand outlook, S&P Global Platts’ head of EMEA news said Wednesday ahead of the group’s Joint Ministerial Monitoring Committee (JMMC), where it will announce recommendations for production.

Consumer prices in the UK turned to growth in June and were stronger than expected. The ONS on Wednesday morning reported CPI growth of 0.6% YoY against 0.5% a month earlier and outlined a likely reversal in the inflationary trend..

Stocks and U.S. equity futures rose, while the dollar weakened to a one-month low as progress in developing a coronavirus vaccine crossed a key milestone. European stocks staged a broad advance, with travel shares leading gains. Atlantia SpA surged 20%.

PayPal has confirmed that it is developing capabilities in the cryptocurrency space, according to a letter to the European Commission. Originally submitted on March 20, the document was intended as a response to the European Commission’s public consultation on building.

One small firm in three around the world was obliged to cut jobs to stay open through the coronavirus pandemic in May, a survey showed on Wednesday, underlining how hard the outbreak has slammed the world economy. Some 26% of.

Tesla has formed a habit of cutting prices of its cars nearly every other month. In the last four months, the electric carmaker has reduced the prices of both the Model 3 and the Model Y at least four times..

Stock futures climbed higher in overnight trading on Tuesday after Moderna said its coronavirus vaccine produced antibodies in all patients in an early trial, raising hope for a faster economic recovery. Futures on the Dow Jones Industrial Average jumped 265.

The Israeli government made “very serious mistakes” after initially containing the coronavirus outbreak, and “tremendous damage” is being done to the economy, a political analyst told CNBC as cases in the country continue to climb rapidly. Just weeks after restrictions.