Category: Equity News

Equity News

Oil And Gold: A Tough Day For Both, Tesla (TSLA) Stock Also Dropped On Its First Day

On Monday, the oil sector remained under pressure from the U.S. Congress still not coming to an agreement on the stimulus plan as well as suffering the impact of new coronavirus wave in the United Kingdom which raised questions about the economic recovery in all parts of the world especially in Europe. In the January Nymex contract, U.S. light crude oil (WTI) dropped -2.77 percent to $47.74 a barrel. In February, the Brent contract for delivery lost -2.58 percent to $50.91 per barrel. On the other end, with strengthening Dollar, Gold for the February Comex futures contract, dropped -0.34 percent

Equity News

U.S. Indices Took A Break On Friday Awaiting Government’s Decision On ‎Support Plan

On Friday, the New York Stock Exchange ended marginally lower, following records in its key indices, which increased throughout the week. As Friday approached (the last deadline before a “shutdown”), talks in the U.S. Congress on a proposed $900 billion budget funding package have escalated, which can continue over the weekend. Another concern surfaced as Washington put the Chinese chip maker SMIC and 60 other Chinese organizations on the blacklist of the Commerce Department. Oil prices, however, kept increasing, with WTI reaching $50 per barrel. At the close, the Dow Jones index fell -0.41% to 30,179 points, while the large

Equity News

Oil Prices Rose Even In Presence Of Adverse Factors

On Tuesday 15 December, in the face of strengthening restrictive measures in a number of Western countries, oil gained about 1.1 percent in price. Moreover the news of continued growth in the production of oil in Libya puts pressure on the prices. The weakening of the OPEC global oil demand forecast by 350 thousand barrels per day in 2021 is also worth remembering. At close, crude futures from February Brent traded up by 0.93 percent at $50.26, while crude futures from January WTI were up 1.3 percent at $47.62. Furthermore the Libyan national oil company NOC announced on Monday a

Equity News

High Morale In U.S. Amid Rising Covid Cases, Consumer Sentiment Risen This Month

On Friday, on the macro-economic front in the United States, amid the rise in the coronavirus pandemic and the return of restrictive measures in many states, American morale was holding up at the beginning of December. As calculated by the University of Michigan, the preliminary U.S. consumer sentiment climbed to 81.4 in December from a market consensus of 76.5 and 76.9 in November. Additionally, in line with the consensus of economists, the producer price index (PPI) increased by 0.1 percent in November compared to the previous month. This time, excluding food and oil, the US ‘PPI’ was up 0.1 percent

Equity News

Oil Prices Rose Hoping Economic Recovery, Discussions Continue On Stimulus Plan

In the oil sector, in the expectation of an economic rebound in 2021 thanks to anti-Covid-19 vaccinations, optimism continues to lift prices. U.S. light crude oil (WTI) eventually held up well with the January Nymex contract adding up 2.8 percent to $46.78 a barrel. The Brent delivery in January contract ended up 2.8 percent at $50.25 per barrel, for the first time in 9 months, moving back over the $50 mark. In Washington, speculation persists about the prospect of implementing a new support package, planned for the end of next week for the Covid-19 crisis prior to the end of

Equity News

Oil Prices Fell On Monday – Investors A Bit Worried About Lifting Sanctions On Iran

Oil prices which began to rise on Friday have weakened by the background details on Monday. WTI dropped by -1.08% while Brent fell -0.93% to settle at $45.76 to $48.79 respectively. Baker Hughes’ weekly figures appear to show a rise in drilling activity in the United States. The number of active rigs increased to 246 rigs last week (+5 rigs). Canada also saw an increase by 2 installations to 40 active installations. In the United States and Canada, the number of active gas installations has declined by 4. The number of rigs, as an indication of potential demand, suggests a

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Equity News

U.S. Indices: Investor Remained On Backfoot On Wednesday

The markets traded without any obvious enthusiasm Wednesday. Extremely contradictory news is the reason for this, which does not yet allow investors to decide on a possible continuation of the movement. A number of pharmaceutical companies, on the one hand, are not only close to completing the development of a coronavirus vaccine, but have already applied for registration. On the other hand, Joe Biden, who so encouraged investors with his promises to restore global trade and stop trade wars during the presidential election, unexpectedly said that he was not yet ready to grant any concessions to China and was ready

Equity News

Trump Willing To Accept Biden’s Victory, Europe Discussing Trade Issues With Democrat Team

Markets were pleased in terms of U.S. policy to see Donald Trump taking another step towards acknowledging his defeat in the November 3 presidential election to Joe Biden. In the short session on Friday, after remaining closed for Thanksgiving on Thursday, Wall Street took an upward momentum on the day. The larger S&P 500 index gained 0.24% to 3,638 points; the technology rich Nasdaq composite index gained 0.92% to 12,205 points, whereas Dow Jones rose 0.13% to 29,910 points on Friday. On Thursday, Donald Trump said he would leave the White House if the Electoral College votes in favor of

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Equity News

Oil Rose While Gold Dropped On Monday

On Monday, oil prices continued to grow at their highest level in almost three months, hoping for a demand rebound in 2021 and an extension of OPEC supply cuts past 31 December. On 30 November and 1 December, the representatives of the OPEC+ will meet. For the December Nymex contract, the price of U.S. light crude oil (WTI) rose 2.15 percent to $43.06 a barrel on Monday, the highest since August 26. The January distribution Brent contract rose 2.45 percent to $46.06. WTI has peaked at 20.3 percent since the start of November and Brent has recovered almost 23 percent

Equity News

U.S. Indices Dropped After Tug Of War Between U.S. Treasury And Fed

The major U.S. indices show negative dynamics in the trading on Friday, November 20, due to disputes between the Federal Reserve and the US Treasury over the extension of a variety of programs during the coronavirus pandemic to support the country’s economy. Thus, Treasury Secretary Steven Mnuchin said the emergency loan programs of the Fed, initiated by the regulator at the start of the Covid crisis, will not be extended after December 31 of this year. In response, the Fed expressed its disagreement, arguing that unless there are strong signs of a turnaround in the US economy, all programs should