Market Overview - Page 329

The chaos that engulfed the gold market in March as the global pandemic choked off physical trading routes is rippling through other precious metals, resulting in price dislocations and a surge in exchange inventories for silver and platinum. The gold.

The world’s biggest pension fund posted a record loss in the first three months of 2020 after the coronavirus pandemic sparked a global market rout in the period. Japan’s Government Pension Investment Fund lost 11%, or 17.7 trillion yen ($164.7.

The price of Bitcoin (BTC) dropped below $9,000 in a rapid pullback, falling by 5% in 48 hours. It marked the seventh drop to the $8,000s for the top-ranked cryptocurrency by market capitalization within a span of two months, since.

The United States reported more than 55,000 new COVID-19 cases on Thursday, a new daily global record for the coronavirus pandemic, as infections rose in a majority of states. A surge in coronavirus cases over the past week has put.

Fitch Ratings has downgraded a record 33 sovereign ratings in the first half of this year — and the agency is not done yet as the coronavirus pandemic pummels government finances. James McCormack, Fitch’s global head of sovereign ratings, said.

Chinese markets update highs following business recovery Chinese stocks are showing a rally following upbeat data on activity in the service sector. Service PMI released on Friday morning showed a jump to 58.4, the highest value in 10 years. The.

Analysts at Goldman Sachs expect global oil demand to return to pre-pandemic levels by 2022, citing a pick-up in commuting, a shift to private transportation and higher infrastructure spending. In a research note published Thursday, analysts at the U.S. investment.

The number of Americans filing for unemployment benefits for the first time rose more than expected last week as a resurgent coronavirus added pressure to the U.S. economy. The Labor Department said Thursday that initial jobless claims rose by 1.427.

Monthly US employment data impressively exceeded expectations, noting job growth of 4.8 million (3.0-3.2 million expected). Besides, the unemployment rate (fell from 13.3% to 11.1%) and the share of the economically active population (increased from 60.8% to 61.5%) were better.

All eyes are on today’s double-whammy jobs report. Beyond Thursday’s usual jobless claims data, we’ll also get the monthly Labor Department employment report. We’re expecting record numbers, which may explain why Dow Jones Industrial Average (DJIA) futures are up 225.

The U.S. dollar slipped to a one-week low against its rivals on Thursday as upbeat U.S. and European economic data sharpened risk appetite, with hopes for a COVID-19 vaccine breakthrough also helping sentiment. Against a basket of currencies, the greenback.

The U.S. economy likely created jobs at a record clip in June as more restaurants and bars resumed operations, which would offer further evidence that the COVID-19 recession was probably over, though a surge in cases of the coronavirus threatens.