fell 0.6% to $2,001 per ounce.closed at a record high on Tuesday of 3389.87 for the first time since February amid positive housing-market data and a broad tech rally.
This means the index has shot up 52% since its coronavirus low of 2247.40 in March, making it one of the most spectacular recoveries from a bear market. Naeem Aslam, chief market analyst at Avatrade, said: "There is no doubt that the tech sector leads this coronavirus stock market rally."prices were soft ahead of an OPEC meeting later on Wednesday.
Aslam said: "Traders are keeping an eye on the OPEC+ gathering where the current supply cut is the agenda of their meeting. No one wants to see the OPEC+ resume their production level to the pre-COVID-19 level. "The reason is simple: global economic output is nowhere close to this level, which means that oil demand is much below its pre-coronavirus level. An increase in the supply can only translate into a massive disaster for the oil prices."OPEC is planning to bring back roughly 1.5 million barrels a day after cutting about 10% of global production following the COVID-19 slump.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside the French Riviera's pandemic party problem - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Houston we have a problem.... or in this case, France. 25 guys and only one woman, huge problem.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside the 20,000-member trading community started by college students - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stocks Open Higher, With S&P 500 Closing In On New Record HighStocks opened higher today with S&P 500 closing in on a new record high by skleb1234 skleb1234 the stock market is an indication of corporate health, not the economic wellbeing of the average citizen who has no skin in the game. stocks represent Trump's BFFs financial interests, not those of the everyday person. skleb1234 continent their fathers conquered.' 'The issuing power of currency shall be taken from the banks and restored to the people, to whom it properly belongs.' - Thomas Jefferson skleb1234 If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around(these banks) will deprive the people of all property until their children wake up homeless on the
Source: Forbes - 🏆 394. / 53 Read more »
5 things to know before the stock market opens MondayU.S. stock futures are steady Monday, with the S&P 500 less than 1% away from its Feb. 19 record close. I trade CFDs. America's financial system is convoluted and it's regulated and taxed to death.
Source: CNBC - 🏆 12. / 72 Read more »