Market Overview - Page 344

Fierce Competition Is ComingImproving passenger traffic may signal hope for carriers, but it isn’t yet time to pop the champagne yet. Numbers are unlikely to return to pre-pandemic levels anytime soon. To compete for the reduced number of flyers amid.

The Russian government posted an updated version of its proposed law regulating digital assets this week, adding more restrictions to the industry. The law would prohibit the circulation of all cryptocurrencies, as well as their mining and advertising, though simply.

The U.S. stock market is nearing its all-time high as investors dismiss stark warnings from billionaires. “Too many people” expect a V-shape recovery, billionaire Sam Zell said last month. He was one of many billionaires who suggested the U.S. economy.

OPEC and its oil-producing allies agreed on Saturday to extend the group’s historic production cut for an additional month in an ongoing effort to balance the global oil market. The agreement was finalized during the group’s video-conference meeting. Beginning on.

Germany’s industrial production fell so sharply in April, at the height of the coronavirus lockdown in the country, that one economist has called it “the worst month ever” for the German economy, a key growth driver for the euro zone..

Oil prices rose on Friday after an unexpected fall in the May US jobless rate and Opec’s decision to bring forward to Saturday discussions on whether to extend record production cuts. Brent crude futures were up $2.07, or 5.2 per.

Stocks rallied on Friday after a historic and surprising gain in U.S. jobs raised hope the economy is starting to recover from the coronavirus pandemic. The Dow Jones Industrial Average jumped 1,030 points, or 3.9%. The S&P 500 traded 3.1%.

US Bureau of Labor Statistics reported that the economy created 2.5 million new jobs in May, which sharply contrasts with the expected slump by 7.5 million. This massive gap between expectations and fact shows how much the economic analysts underestimate.

Futures on the Dow and broader U.S. stock market reversed modest gains Thursday evening, as investors paused in anticipation of May employment numbers. Stock futures traded mixed Thursday evening. Dow Jones futures rose by as much as 64 points before.

Stocks rallied, while Treasuries and the dollar fell as investors focused on govenment stimulus and shrugged off an upcoming U.S. jobs report that is expected to show the highest unemployment since the 1930s. Airlines, cruise ship operators and hotels led.

Investors expecting a sudden surge in bitcoin’s price, after it underwent a technical adjustment three weeks ago that reduced the rate at which new coins are generated, may have to wait a few months, or perhaps a few years. Bitcoin.

The U.S. unemployment rate likely shot up to almost 20% in May, a new post World War Two record, with millions more losing their jobs, exposing the horrific human toll from the COVID-19 crisis. The Labor Department’s closely watched monthly.