Live Updates: COVID-19 Cases
  • World 17,355,680
    World
    Confirmed: 17,355,680
    Active: 5,846,891
    Recovered: 10,835,388
    Death: 673,401
  • USA 4,614,320
    USA
    Confirmed: 4,614,320
    Active: 2,201,523
    Recovered: 2,258,004
    Death: 154,793
  • Brazil 2,566,765
    Brazil
    Confirmed: 2,566,765
    Active: 688,963
    Recovered: 1,787,419
    Death: 90,383
  • India 1,639,350
    India
    Confirmed: 1,639,350
    Active: 544,471
    Recovered: 1,059,093
    Death: 35,786
  • Russia 834,499
    Russia
    Confirmed: 834,499
    Active: 191,042
    Recovered: 629,655
    Death: 13,802
  • South Africa 471,123
    South Africa
    Confirmed: 471,123
    Active: 165,659
    Recovered: 297,967
    Death: 7,497
  • Mexico 408,449
    Mexico
    Confirmed: 408,449
    Active: 95,941
    Recovered: 267,147
    Death: 45,361
  • Peru 400,683
    Peru
    Confirmed: 400,683
    Active: 101,823
    Recovered: 280,044
    Death: 18,816
  • Chile 351,575
    Chile
    Confirmed: 351,575
    Active: 15,570
    Recovered: 326,628
    Death: 9,377
  • Spain 332,510
    Spain
    Confirmed: 332,510
    Active: 304,067
    Recovered: ?
    Death: 28,443
  • UK 302,301
    UK
    Confirmed: 302,301
    Active: 256,302
    Recovered: ?
    Death: 45,999
  • Iran 301,530
    Iran
    Confirmed: 301,530
    Active: 23,761
    Recovered: 261,200
    Death: 16,569
  • Pakistan 277,402
    Pakistan
    Confirmed: 277,402
    Active: 25,347
    Recovered: 246,131
    Death: 5,924
  • Saudi Arabia 274,219
    Saudi Arabia
    Confirmed: 274,219
    Active: 40,179
    Recovered: 231,198
    Death: 2,842
  • Italy 247,158
    Italy
    Confirmed: 247,158
    Active: 12,230
    Recovered: 199,796
    Death: 35,132
  • Bangladesh 234,889
    Bangladesh
    Confirmed: 234,889
    Active: 98,846
    Recovered: 132,960
    Death: 3,083
  • Turkey 229,891
    Turkey
    Confirmed: 229,891
    Active: 10,678
    Recovered: 213,539
    Death: 5,674
  • Germany 209,601
    Germany
    Confirmed: 209,601
    Active: 8,380
    Recovered: 192,000
    Death: 9,221
  • France 186,573
    France
    Confirmed: 186,573
    Active: 75,008
    Recovered: 81,311
    Death: 30,254
  • Canada 115,617
    Canada
    Confirmed: 115,617
    Active: 6,064
    Recovered: 100,630
    Death: 8,923
  • China 84,165
    China
    Confirmed: 84,165
    Active: 574
    Recovered: 78,957
    Death: 4,634
  • Netherlands 53,963
    Netherlands
    Confirmed: 53,963
    Active: 47,816
    Recovered: ?
    Death: 6,147
  • Australia 16,303
    Australia
    Confirmed: 16,303
    Active: 5,495
    Recovered: 10,619
    Death: 189
  • S. Korea 14,269
    S. Korea
    Confirmed: 14,269
    Active: 837
    Recovered: 13,132
    Death: 300
  • New Zealand 1,560
    New Zealand
    Confirmed: 1,560
    Active: 24
    Recovered: 1,514
    Death: 22

Global markets steady as investors gauge length of recovery

Author at TechGenyz Investing

World stock markets were steady on Tuesday as investors weighed the evidence of an economic recovery against a rise in reported coronavirus contagions in some countries.

Markets were buoyed somewhat by stronger than expected manufacturing data from China, the world’s second-largest economy. But other new economic indicators were mixed.

France’s CAC 40 rose 0.3% to 4,960, while Germany’s DAX gained 0.7% to 12,318 after new data showed an uptick in eurozone inflation. The annual rate edged up to 0.3% in June from 0.1% the month before, largely due to higher energy prices, with the cost of many goods still weighed down by a lack of demand.

Britain’s FTSE 100 lost 0.4% to 6,204. US shares were set for a steady open, with Dow and S&P 500 futures roughly unchanged.

A survey of China factory managers released Tuesday was better than expected, suggesting the global economy may be on the upswing after bottoming out at the height of shutdowns in April-May, analysts said.

The monthly purchasing managers’ index released by the national statistics agency and an industry group rose to 50.9 from May’s 50.6 on a 100-point scale on which numbers above 50 show activity expanding.

China, where the coronavirus pandemic began in December, was the first economy to reopen. Factory and other activity are reviving but global demand is weak and Chinese consumers, worried about losing jobs, are reluctant to spend.

Forecasters say global demand for Chinese goods is uncertain as infections rise in the United States, Brazil, and some other countries.

Increases in production and new orders point to a rebound in foreign demand, though export demand remains much weaker than overall new orders, said Martin Rasmussen, an economist at Capital Economics.

Further clouding the outlook, Japan reported a plunge in factory output in May, and Spain released statistics showing that its economy contracted 5.2% during the first three months of the year from the previous quarter.

The mixed signals have investors swinging between optimism and gloom.

These will be important questions to answer as equity markets hang in a delicate balance at present, Jingyi Pan, market strategist at IG, said in a commentary.

Japan’s benchmark Nikkei 225 gained 1.3% to finish at 22,288.14. South Korea’s Kospi gained 0.7% to 2,108.33, while Australia’s S&P/ASX 200 rose 1.4% to 5,897.90. Hong Kong’s Hang Seng gained 0.5% to 24,427.19. The Shanghai Composite closed at 2,984.67, up 0.8%.

Countries across the world are in various stages of the pandemic. Some will not resume normal economic activity for some time because of continuing restrictions and changing consumer behavior, analysts say.

The worry is that worsening outbreaks in the US and elsewhere could choke off budding improvements in economies as governments ease up on pandemic restrictions.

Benchmark US crude oil fell 55 cents to 39.15 in electronic trading on the New York Mercantile Exchange. It rose from 1.21 to 39.70 a barrel on Monday. Brent crude oil for August delivery slipped 52 cents to 41.33 a barrel.

The dollar rose to 107.76 Japanese yen from 107.57 yen. The euro cost 1.1193, down from 1.1238. (AP)

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