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POPULAR NEWS
Gold futures end higher, up more than 3% for the month

Gold futures ended higher on Friday as tensions between the U.S. and China over Hong Kong fed haven demand for the precious metal. Meanwhile, Federal Reserve Chairman Jerome Powell said Friday that while he was a bit less tense about the economy, he is still concerned about a potential "second wave" of the coronavirus outbreak. Against that backdrop, August gold climbed by $23.40, or nearly 1.4%, to settle at $1,751.70 an ounce. Most-active futures contract prices ended the month with a gain...

Gold Rises Friday and Set for Weekly Gain as Investors Await President Trump Statement on China

Gold futures headed higher for a second session Friday, putting gold prices on track for a modest weekly gain amid focus on U.S.-China tensions and global monetary stimulus measures. President Donald Trump said that he was preparing to hold a Friday news conference on China but hasn't set a specific time. His planned remarks would come after the U.S., Australia, Canada and the U.K. governments issued a joint statement Thursday reiterating their "deep concern regarding Beijing's decision to...

Powell Says The Fed is 'Days Away' from Making The First Loans in The Main Street Lending Facility

Federal Reserve Chairman Jerome Powell said the central bank's long-awaited program to lend to small- and medium-sized businesses is about to get off the ground. The Main Street lending facility, which will target companies with up to 15,000 employees, has been difficult to set up but is just about ready, Powell told Princeton University economist and former Fed official Alan Blinder in a webinar interview Friday. "We're days away from making our first loans in Main Street, he said. "We...

U.S. oil futures reverse course to finish higher, climb 88% for the month

U.S. oil futures reversed course to finish higher Friday, getting a boost as traders eye developments tied to Hong Kong related tensions between the U.S. and China, and as another drop in U.S. oil rigs suggested further domestic production declines. U.S. prices ended the month with a gain of 88%, based on the front months, to mark the best monthly performance on record, according to Dow Jones Market Data. July West Texas Intermediate oil rose $1.78, or 5.3%, to settle at $35.49 a barrel on...

S&P, Dow Open Lower on Jitters Over Trump's China Response

The S&P 500 and Dow Jones indexes opened lower on Friday as investors braced for a U.S. response to China's national security law on Hong Kong, threatening to take the shine off another month of strong gains for the stock market. The Dow Jones Industrial Average fell 76.49 points, or 0.30%, at the open to 25,324.15, and the S&P 500 opened lower by 4.56 points, or 0.15%, at 3,025.17. The Nasdaq Composite gained 13.36 points, or 0.14%, to 9,382.35 at the opening bell. Source : Reuters

China Manufacturing, Retail, Investment Suffer Historic Slump
Monday, 16 March 2020 09:45 WIB | ECONOMY |ekonomi China

China suffered an even deeper slump than analysts feared at the start of the year as the coronavirus shuttered factories, shops and restaurants across the nation, underscoring the economic fallout now facing the global economy as the virus spreads around the world.

Industrial output plunged 13.5% in January and February from a year earlier, versus a median estimate for a 3% contraction. Retail sales fell 20.5% in the period, compared to a projected 4% fall. Fixed-asset investment dropped 24.5%, versus a forecast 2% decline. The unemployment rate jumped to 6.2%, the highest on record.

Gross domestic product is now all but certain to contract in the first quarter compared to the same period last year -- the first time that has happened since comparable data begins in 1989.

The outbreak of deadly viral pneumonia in Wuhan dramatically worsened in January, prompting China to lockdown Hubei province, extend holidays and restrict travel and business across the country. That brought much of the nation™s economy activity to a halt in February, undercutting a stabilizationseen in December.

While there are increasing signs that companies and people are getting back to work in March, the economy is still not back to normal.

Even as governments in China and some other Asian nations look to be getting their outbreaks under control, the coronavirus is now spreading rapidly in Europe, the U.S. and other parts of the world. That will likely hit demand for Chinese exports, extending the damage to firms and the economy.

The People™s Bank of China bank acted again on Friday to support the economy, providing banks more money to lend by cutting the amount of cash they must place in reserve at the central bank. That takes effect Monday.

The data is released on a combined basis to account for the normal seasonal volatility around the Lunar New Year holiday.

Source : Bloomberg

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POPULAR NEWS
Gold futures end higher, up more than 3% for the month

Gold futures ended higher on Friday as tensions between the U.S. and China over Hong Kong fed haven demand for the precious metal. Meanwhile, Federal Reserve Chairman Jerome Powell said Friday that while he was a bit less tense about the economy, he is still concerned about a potential "second wave" of the coronavirus outbreak. Against that backdrop, August gold climbed by $23.40, or nearly 1.4%, to settle at $1,751.70 an ounce. Most-active futures contract prices ended the month with a gain...

Gold Rises Friday and Set for Weekly Gain as Investors Await President Trump Statement on China

Gold futures headed higher for a second session Friday, putting gold prices on track for a modest weekly gain amid focus on U.S.-China tensions and global monetary stimulus measures. President Donald Trump said that he was preparing to hold a Friday news conference on China but hasn't set a specific time. His planned remarks would come after the U.S., Australia, Canada and the U.K. governments issued a joint statement Thursday reiterating their "deep concern regarding Beijing's decision to...

Powell Says The Fed is 'Days Away' from Making The First Loans in The Main Street Lending Facility

Federal Reserve Chairman Jerome Powell said the central bank's long-awaited program to lend to small- and medium-sized businesses is about to get off the ground. The Main Street lending facility, which will target companies with up to 15,000 employees, has been difficult to set up but is just about ready, Powell told Princeton University economist and former Fed official Alan Blinder in a webinar interview Friday. "We're days away from making our first loans in Main Street, he said. "We...

U.S. oil futures reverse course to finish higher, climb 88% for the month

U.S. oil futures reversed course to finish higher Friday, getting a boost as traders eye developments tied to Hong Kong related tensions between the U.S. and China, and as another drop in U.S. oil rigs suggested further domestic production declines. U.S. prices ended the month with a gain of 88%, based on the front months, to mark the best monthly performance on record, according to Dow Jones Market Data. July West Texas Intermediate oil rose $1.78, or 5.3%, to settle at $35.49 a barrel on...

S&P, Dow Open Lower on Jitters Over Trump's China Response

The S&P 500 and Dow Jones indexes opened lower on Friday as investors braced for a U.S. response to China's national security law on Hong Kong, threatening to take the shine off another month of strong gains for the stock market. The Dow Jones Industrial Average fell 76.49 points, or 0.30%, at the open to 25,324.15, and the S&P 500 opened lower by 4.56 points, or 0.15%, at 3,025.17. The Nasdaq Composite gained 13.36 points, or 0.14%, to 9,382.35 at the opening bell. Source : Reuters

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