Market Overview - Page 327

European markets opened lower Friday as concerns about spiking coronavirus cases in the U.S. and elsewhere continue to weigh on the broad recovery rally. The pan-European Stoxx 600 fell 0.5% at the start of trading, oil and gas stocks dropping.

The number of Americans filing for jobless benefits dropped to a near four-month low last week, but a record 32.9 million people were collecting unemployment checks in the third week of June, supporting expectations the labor market would take years.

Launching an economic pitch expected to anchor his fall presidential campaign, Democratic candidate Joe Biden is proposing sweeping new uses of the federal government’s regulatory and spending power to bolster U.S. manufacturing and technology firms. Biden calls for a $400.

Global stocks continue to rally as hopes of an economic recovery overcome surging coronavirus cases, yet analysts remain bullish over investor appetite for gold in the coming months. China’s stocks extended gains on Thursday, with the Shanghai Composite index leading.

The worse economic fundamentals and forecasts become, the more mysterious stock-market outcomes in the US appear. At a time when genuine news suggests that equity prices should be tanking, not hitting record highs, explanations based on crowd psychology, the virality.

As if the Nasdaq wasn’t looking bubbly enough, yet another blatant comparison with the dot-com bubble has emerged. Will this be enough to slow down the relentless bullishness in the U.S. tech sector, or will the bulls continue to run.

The U.S. dollar fell against most currencies on Thursday as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the U.S. currency. China’s yuan rose to a four-month high against the.

Futures contracts tied to the major U.S. stock indexes held steady in early morning trading on Thursday, hours after the Nasdaq Composite clinched its 25th record close for 2020. Dow Jones Industrial Average futures dipped 22 points, implying an opening.

The dollar index has now returned to the June low, losing 1.4% since the beginning of the month against a basket of the most popular world currencies. Stable growth against the dollar is shown by the pound, which rose to.

Don’t expect the Chinese yuan to become a “safe-haven” alternative to the dollar or U.S. Treasurys anytime soon, says Ebrahim Rahbari, global head of foreign exchange analysis at Citi. “I’m very skeptical,” Rahbari told CNBC’s “Street Signs Asia” on Thursday,.

Gold’s spot price is headed for a record high after blasting past $1,800. Bullion last breached this level in September 2011–about a month after Standard & Poor’s cut the United States’ AAA credit rating for the first time. At a.

Turkey’s lira this week slipped to its weakest level since hitting a record low in early May after inflation for the month of June was reported at 12.6%, a figure that topped economists’ expectations. With rapidly shrinking foreign reserves to.