Powell’s Dovish Sentiment Disappoints Bond Markets
Fed Chair Jerome Powell prompted caution in the bond market on Thursday when he hinted at watching the recent run-up in yields, according to Bloomberg. Powell is concerned about disorderly…
Eurozone Construction Activity Remains in the Contraction Zone in February
Eurozone’s Construction Total Activity Index rose from 44.1 in January to 45.0 in February, according to IHS Markit press release. The index signaled a softer albeit a contraction in construction…
U.K Construction Sector on a Solid Return Despite January Setbacks
U.K Construction Total Activity Index rebounded in February from a slump to 49.2 in January to post a high of 53.3, according to IHS Markit press release. The index signaled…
OPEC+ to Review Oil Supply Cuts in Critical Meeting amid Extra Capacity Headache
OPEC+ will convene a videoconference from 1 p.m. London time to discuss the next phase of production policy, according to CNBC. The meeting comes when OPEC Secretary General Mohammed Barkindo…
Slump in Tech Stocks Pull S&P 500: NASDAQ Down, Bond Yields Rise
The S&P 500 fell 1.3% to 3,819.72 as tech stocks took a hit on Wednesday despite the names tied to economic recovery providing some support. Nasdaq Composite shed 2.7% to…
Exxon Sues Macquarie Energy over Gas Contract
Exxon Mobil Corp. has filed a lawsuit in an $11.7 million tussle with Australia’s Macquarie Energy in a Texas court over missed deliveries last month, according to Reuters. Exxon wants…
Elon Musk’s SpaceX is Considering a Starlink Factory in Texas
SpaceX’s Elon Musk is planning to build a new factory in Texas for the Starlink satellite network service, according to the company’s report. The factory will manufacture consumer-facing devices, including…
Oscar Health Generates $1.2 Billion after Pricing IPO above Range at $39
Alphabet-backed Oscar Health priced its IPO above range at $39 per share, raising $1.2 billion. The health insurance startup planned to sell 31 million shares in the $32-$34 price range…
U.K Service Sector Stabilises as Slump in Output and Employment Slows
U.K Business Activity Index in February was 49.5, up from an eight-month low of 39.5 in January, according to the IHS Markit press release. The index signaled the slowest decline…
Global Stocks Surge As Appetite for Riskier Assets Grows. Treasuries Stabilize
Global stocks gained on Wednesday as retreat in U.S Treasury yields fueled demand for riskier assets. The MSCI world equity index, which tracks shares in 49 countries, gained 0.4% as…
VanEck to Launch BUZZ ETF Tracking Retail Trading Frenzy
VanEck Associates Corp will on Thursday launch an exchange-traded fund to track the 75 most-favorably mentioned entities on the internet, according to Bloomberg. The VanEck Vectors Social Sentiment ETF, under…
Yum! Brands Acquires Kvantum’s A.I. For Business Optimization
Yum! Brands Inc. inked a definitive agreement to acquire Kvantum Inc.'s artificial intelligence-based consumer insights and marketing performance analytics, according to the company's press release. Yum! and its KFC, Pizza…
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