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
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
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
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
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
