Market Overview - Page 407

Bitcoin’s lackluster recovery from price support around $9,400 is struggling to gather upside traction amid bearish developments on the short-term technical charts. The top cryptocurrency by market value fell by 5.5 percent on Wednesday to register its biggest single-day drop.

The Dow Jones Industrial Average (DJIA) fell for a second consecutive day on Friday after one of its “safety stocks” warned that the coronavirus outbreak had put a dent in its earnings guidance. St. Louis Federal Reserve President James Bullard.

Plans by the United States to create a 5G rival to Huawei could be a “challenge,” one of the Chinese firm’s top executives told CNBC, amid growing calls from American lawmakers to find alternatives for its next-generation networks. 5G refers.

U.S. stocks slid, gold surged and Treasury yields fell as investors took a defensive stance amid renewed concern about the economic impact of the coronavirus as it spreads outside of China. Chipmakers led losses on the S&P 500 Index, which.

Market overview Global stock indices started the day down, but European business activity indices managed to somewhat improve the situation. S&P500 loses 0.2%, Euro50 and FTSE100 – by 0.4% each. DXY retreated from 3-year highs at 99.81, reached overnight, losing.

Preliminary estimates of the PMI indices for the eurozone countries, for the most part, exceeded expectations, creating positive traction in the EURUSD pair. The published composite PMI for the eurozone rose to 51.6 in February vs forecasted decline from 51.3.

China car sales plunged 92% during the first two weeks of February in the wake of the coronavirus outbreak, according to the China Passenger Car Association. It was even worse in the first week, with nationwide sales tumbling 96% to.

By the end of the week, the stock markets returned to a cautious mood, as players’ attention shifted to the problems of the production sector. Asian trading bourses declined for the second day in response to the Hubei Province’s call.

Oil prices fell around 1% on Friday, pressured by growing worries about fuel demand as a coronavirus epidemic spread further beyond China, and as major crude producers appeared to be in no rush to cut output to buttress the market..

Two prisons in China have reported nearly 250 cases of COVID-19 cases, with both inmates and prison guards getting infected. On Friday, Xinhua news agency reported that 207 cases of the new coronavirus were reported in Rencheng prison as of.

Oil prices rose further on Thursday after a U.S. report showed a draw in gasoline inventories and a much smaller-than-anticipated rise in crude stocks. U.S. gasoline stockpiles fell by about 2 million barrels in the week to Feb. 14, while.

It is premature to give precise projections of economic growth in China and the World in 2020 following the outbreak of coronavirus, IMF Managing Director Kristalina Georgieva said on Thursday. The IMF is still reviewing its projections for growth in.