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GAFA Tech Giants Provide a Boost to US Stocks

US stocks opened the week higher after closing the previous week on a negative note. as investors braced for the busiest week of earnings, while keeping an eye on discussing around the covid-19 rescue program. Positive news regarding progress on the coronavirus vaccine front also boosted market sentiment, with Moderna reporting the commencement of Phase

By |2020-08-03T16:26:14+05:30August 3rd, 2020|Finance|0 Comments

US Stocks in the Red with Traders Shrugging Off Positive Covid-19 Vaccine News Amid Flaring US-China Tensions

US stocks had started last week on a positive note, with the Nasdaq notching a record close on Monday, as markets enthusiastically awaited quarterly results from major companies. Investors rejoiced positive news related to coronavirus vaccine candidates. AstraZeneca and the University of Oxford announced promising results from their covid-19 vaccine candidate in Phase 1 clinical

By |2020-07-27T16:02:23+05:30July 27th, 2020|Finance|0 Comments

Wall Street Remains Volatile as Vaccine Optimism Gets Dampened by Rising Infections

US stocks started the week on a strong note on Monday last week, as investors cheered news of positive trial results for covid-19 vaccine candidates. Pfizer reported that two of its vaccine candidates had been awarded FDA’s Fast Track designation. Moderna joined in to issue some encouraging data for its covid-19 candidate, showing that the

By |2020-07-20T17:11:09+05:30July 20th, 2020|Finance|0 Comments

Nasdaq Hits New Highs Amid Record Surge in Covid-19 Infections

US stocks started the week on a positive note after China’s blue-chip stocks surged to multi-year highs. As coronavirus cases continued to rise in various states in the US and other parts of the world, tech stocks climbed, taking the Nasdaq to a new high. The US services index also returned to expansion territory, with

By |2020-07-13T17:00:28+05:30July 13th, 2020|Finance|0 Comments

US Stocks Rebound on Covid-19 Vaccine Hopes and Jobs Data

US markets started the week on a positive note despite a spike in new coronavirus cases. Various states in the US, including Texas and Florida, have reversed their reopening measures after witnessing a record rise in cases last week, including the highest single-day infections of 52,000 on Wednesday. Investors cheered news of Pfizer and German

By |2020-07-06T18:25:38+05:30July 6th, 2020|Finance|0 Comments

Record Rise in US Covid-19 Cases Infects Financial Markets

US markets ended at their lowest level in around two weeks on Friday, with concerns around the record rise in new infections. Wall Street was looking to extend the previous week’s rally, but failed to build on gains as various states in the US continued reporting a rise in daily cases, forcing Texas and Florida

By |2020-06-29T13:42:33+05:30June 29th, 2020|Finance|0 Comments

US Markets Recover Last Week’s Losses Following Fed Announcement; Investors Shrug-Off Rising Covid-19 Cases

US stocks clawed back some of its losses last week, after nosediving the week before. Markets were supported by the Federal Reserve’s announcement on Monday around its plans to begin buying individual corporate bonds in addition to the ETFs already being purchased. The latest move by the Fed comes a week after the FOMC (Federal

By |2020-06-22T16:40:37+05:30June 22nd, 2020|Finance|0 Comments

US Markets Tumble on Fed’s Grim Outlook; Nasdaq Retreats From 10,000 Level

After surging for several weeks on hopes of a fast rebound in the economy, US stocks struggled to carry the momentum forward last week. The major US indices recorded sharp losses for the week, despite the Nasdaq breaching the 10,000 mark for the first time in its history, during the week. Gloom gripped the market

By |2020-06-15T19:36:14+05:30June 15th, 2020|Finance|0 Comments

US Jobs Report Triggers Bullish Pennant in the Stock Market

The last trading day of the week brought a big surprise to the markets, as the May jobs report showed an unexpected increase in payroll numbers and a decline in the unemployment rate. The Bureau of Labor Statistics Friday reported a decline in the US unemployment rate to 13.3% in May, from 14.7% in the

By |2020-06-08T18:06:25+05:30June 8th, 2020|Finance|0 Comments

US Stocks Extend Last Week’s Rally on Reopening Optimism, Washington-Beijing Tensions Remain

The holiday-shortened week started on a positive note with another pharma company announcing development plans for its novel coronavirus vaccine candidate. Novavax disclosed on Monday that it had started the Phase 1 clinical study for its covid-19 candidate, NVX-CoV2373, and is expecting to release the preliminary results in July. US stocks rallied last week, as

By |2020-06-01T17:19:17+05:30June 1st, 2020|Finance|0 Comments