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US productivity records largest decline since 1947 in the Q1
The US Department of Labor said that US productivity, which measures production per hour worked for each worker, fell by 7.5% in the first quarter of this year, the largest decline since the third quarter of 1947, compared to 6.3% in the fourth quarter of last year....
Oil rises as European Union approaches Russian oil embargo
Oil prices rose today after the European Union announced its plans to phase out Russian oil imports, as Europe imports about 3.5 million barrels of oil and Russian oil products daily and also depends on Russian gas supplies. Brent crude futures rose $5.17, or 4.9%, to...
Existing US home sales Lower than expected
The National Association of Realtors said today that US existing home sales fell 2.5% to a seasonally adjusted annual rate of 6.69 million units in November versus 6.86 million units in October. Analysts had expected US existing home sales to decline 1.0% to 6.70...
US stocks rise with the support of Apple
US stocks rose, closing the three major indexes near record levels amid optimism about passing a new stimulus package, and the tech sector rose 1.6% with support from Apple after a report showed it plans to increase iPhone production by 30% in the first half of 2021....
US Dollar Declines due to the EU Common Fund proposal
The US dollar fell to a two-week low against the euro after the recent announcement of the creation of a mutual fund that could bring Europe closer to fiscal union to counter the economic impacts of the coronavirus pandemic.France and Germany proposed the creation of...
Gold rises to the highest level in a month
Gold prices rose more than 2.5% today to their highest levels in a month after the Federal Reserve announced wide-ranging efforts worth $ 2.3 trillion to support local governments and SMEs.Spot gold rose 2.5% to $ 1686.85 an ounce after hitting its highest level since...
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