MARKET UPDATE
Stock Futures Nudge Higher Ahead of Bank Earnings
Tuesday, 14 July 2020 16:30 WIB

U.S. stock futures were higher in early morning trade and pointed to a positive open on Tuesday, as investors eye earnings reports from some of the nation™s largest banks. Dow futures rose 90 points, while futures contracts for the S&P 500 and Nasdaq 100 also traded in positive territory. On Monday, the Dow Jones Industrial Average gave up a 500-point gain to end the day up 10 points....

ECONOMY
U.S. Initial Jobless Claims Fell Last Week by More Than Forecast
Thursday, 9 July 2020 19:43 WIB

Applications for unemployment benefits in the U.S. declined last week by more than projected, easing concerns of a renewed downturn in the labor market after several large states reported a pickup in coronavirus cases. Initial jobless claims in regular state programs fell by 99,000 to 1.31 million in the week ended July 4, Labor Department data showed Thursday. The median forecast in...

COMMODITY
Oil Prices Drop on Demand Recovery Fears Amid U.S. Virus Surge
Tuesday, 14 July 2020 18:52 WIB

Oil prices fell around 2% in early trade on Tuesday on worries that new clampdowns on businesses to stem surging coronavirus cases in California and other U.S. states could threaten the nascent recovery in fuel demand. West Texas Intermediate crude futures slid 35 cents, or 0.85%, to $39.76 a barrel, while Brent crude futures fell 24 cents, or 0.56% to $42.48 a barrel. Both benchmark contracts...

GLOBAL
Over 600,000 Hong Kongers Vote in Opposition Primary
Tuesday, 14 July 2020 18:28 WIB

Over 600,000 Hong Kongers cast their ballots in the democratic camp primaries elections over the weekend, far exceeding the organizer™s expected turnout in a poll widely seen as a sign of continuing opposition to the new national security law imposed by Beijing.  The election, held 10 days after the law took effect, aims to select the strongest pro-democracy...

FISCAL & MONETARY
BoE's Bailey Says Now is The Time to Plan for Post-Libor Era
Monday, 13 July 2020 23:22 WIB

Bank of England Governor Andrew Bailey said financial institutions must have plans in place now for the end-2021 deadline for dropping Libor (London Interbank Offered Rate), the discredited interest rate benchmark used to price trillions of dollars of financial contracts. Bailey acknowledged there had been calls to step back from the Libor transition as a priority because of...

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