Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

7 Dec 2021

European Stock Futures Soar with Chinese Rate Cut

The Index Today

The Index Today — European stock markets are expected to rise on Tuesday with the laxation of Chinese monetary policy amidst decreasing fears of Omicron’s effect on the economy.

DAX futures in Germany traded 0.7% higher at 2am ET (0700 GMT), while CAC 40 futures rose by 0.9%. Additionally, the FTSE 100 futures contract in the U.K. grew by 0.3%.

The People’s Bank of China’s (PBOC) decision to reduce the reserve requirement ratio (RRR) by 50 basis points is geared towards economic development while also seeking to relieve the pressure on debt-ridden property developers. This, in turn, has also positively contributed to the current growth of European stocks.

With reassuring reports of the Omicron variant’s milder symptoms, global equities have since rebounded. Crude prices have also increased on Tuesday with crude futures trading 1.5% higher at $70.55 per barrel by 2am ET.

Gold futures have grown 0.2% to $1,783.65/oz. and the EUR/USD pair rose 0.1% at 1.1293.

©Photo: politico

Clay pottery with table linens