After the unexpected fall in global economic activity as the result of the Covid-19 pandemic, BHP GroupCEO Mike Henry believes there could be a recovery on the verge of emerging, although it will take acouple of years.“We’re expecting there’s going to be a sharp contraction in the global economy over this calendar year.We then expect…
Read more
On Monday, Asia Pacific stocks slipped in morning trade as developments on the coronavirus pandemic continue to affect the investor sentiments. Hong Kong’s Hang Seng index managed to lead gains regionally as it surged 1.43% in early trade. However, mainland Chinese stocks were a mixbag. The Shanghai composite went up to a certain extent while…
Read more
S&P 500 rises slightly On Monday, the S&P 500 rose to a certain extent as the broader market index tried to maintain itsmomentum and attempted to go beyond its Feb. 19 record high.The index surged 0.3%. The Nasdaq Composite added 0.7%. The Dow Jones Industrial Average lagged,falling 68 points, or about 0.3%, as reported by…
Read more
The Dow Jones Industrial Average had a favorable time on Monday as gains in economically sensitivestocks canceled out losses from major tech names such as Microsoft, as reported by CNBC.The 30-stock Dow surged 276 points, or 1%, whereas Boeing and Nike managed to secure spots amongthe best-performing stocks in the Dow, soaring 3.9% and 4.7%,…
Read more
China’s dollar-denominated exports showcased a surge of 7.2% while imports dropped 1.4% from a yearago, according to the data from the country’s General Administration of Customs as showed on Friday.Economists polled by Reuters had forecasted that China’s dollar-denominated exports to plunge by 0.2%from a year ago, while imports were expected to have soared 1% from…
Read more
Gold surged record high as negative sentiments over issues such as the coronavirus outbreak as well asU.S.-China tensions boosted investor sentiment.Spot gold traded 2% higher at about $1,941.11 per ounce after earlier trading as high as $1,943.9275 perounce. Those levels went beyond the previous record high price set in September 2011, as reported byCNBC.Gold futures…
Read more
The stocks in Mainland China had an unfavorable time in the early afternoon, along with otherAsia Pacific markets also moving towards the negative territory as U.S.-China tensionsworsened, as reported by CNBC.In mainland China, the Shanghai composite dropped 2.25%, while the Shenzhen composite fellnearly 3%. The Shenzhen component declined 3.45%.Meanwhile in Hong Kong, the Hang Seng…
Read more
Asia Pacific markets made positive moves on Tuesday following the investor sentiment was boostedby optimistic news on the coronavirus vaccine front and seemingly due to an important Europeandeal on a pandemic recovery fund, as reported by CNBC.In Japan, the Nikkei 225 soared 0.73% to 22,884.22 and the Topix index jumped 0.36% to 1,582.74.South Korea’s Kospi…
Read more
On Wednesday, Goldman Sachs reported successful second-quarter earnings as a result of itsreliance on trading and investment banking generating positive results despite the instability of themarket caused by the coronavirus pandemic.The bank stated that it was able to generate $2.42 billion in profit, or $6.26 per share, going beyondthe $3.78 a share estimate of analysts…
Read more
President Donald Trump stated on Friday that he believes that next stage of the U.S. trade deal withChina is not possible adding that the relationship between the two nations has been “severelydamaged” due to the current pandemic.“They could have stopped the plague. They could have stopped it. They didn’t stop it,” Trump claimedon Air Force…
Read more
