News

European stocks bounced back as traders sentiments turned positive after reports of stronger manufacturing and export data from Europe and Asia. European stocks have hit multi months low at the beginning of the week due to concerns over lockdowns and prospects of slower growth in the December quarter.

The Twitter stock price fell more than 20% after releasing third-quarter results as its daily active users missed analysts’ consensus estimates. Meanwhile, the surprise share price selloff has opened an attractive buying opportunity for new investors in the analyst's view.

PayPal stock price fell more than 5% after reporting stronger than expected revenue and earnings growth for the September quarter. The company says earnings and revenue grew at a historic pace during the third quarter as pandemic-related distancing policies have enhanced user's focus towards online payment platforms.

US dollar bounced to the highest level in the last four weeks as a record level of coronavirus infection across Europe and the United States has enhanced investor’s sentiments about the US dollar.

The crude oil price fell to the lowest level since May as the widening lockdowns across the European region have dented the oil demand outlook. The price fell almost 9% since the beginning of this month, with futures are currently trading around $37 a barrel while WTI futures dipped to the $34 a barrel level on Monday.

Microsoft stock price has been under pressure over the past few weeks amid the broader market volatility as the surge in virus infections has forced the governments to place lockdowns.

US dollar jumped sharply in Wednesday trading as demand for safe-haven assets jumped on the robust increase in virus infections and the introduction of new business restrictions.