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

29 Dec 2021

U.S. Futures and European Stocks Soar while Treasuries Remain Stable

The Index Today

U.S. equity futures and European stocks inched higher on Wednesday while the treasuries and the dollar enjoyed relative stability. This comes as traders attempt to gauge the impact of the rapidly-spreading Omicron variant on the world economy.

The FTSE 100 Index hit a record high since February 2020 after U.K. markets resumed post the Christmas holiday, while the Stoxx Europe 600 index edged higher. The S&P 500 futures and Nasdaq 100 soared while technology stocks retreated.

According to Jeffrey Halley, an OANDA Senior Market Analyst, said, “Although omicron cases in the U.S. and Europe amongst others, continue to surge, it has yet to make its presence felt negatively in economic data.” “With market activity much reduced for the holiday season, investors continue to tentatively price in a global recovery hitting a minor bump, and not a pothole,” he added.

©Photo: markets.businessinsider

Clay pottery with table linens