Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
David Becker

US stocks were mixed on Thursday with the Nasdaq outperforming climbing approximately a quarter of a percent. Stocks were led higher by the Industrials which were the best performing sector in the S&P 500 index, communications were the worst-performing sector. Energy shares continued to trend lower, weighed on by declining crude oil prices. The coronavirus that is spread across China is weighing on future potential growth. The former CEO of Wells Fargo John Stumpf was banned from the banking industry for life as part of his participation in knowing about the fake account scandal at Wells Fargo. The ECB kept interest rates unchanged and said they will conduct a review of their current policy to determine if it takes into account of climate change.

Energy Shares Drop as Crude Tumbles

Energy shares continued to trend lower as crude oil was hammered. While the inventory report from the Department of Energy was neutral, the thought that the Chinese coronavirus could contract GDP weighed on oil prices. The EIA reported that US crude oil inventories decreased by 0.4 million barrels from the previous week. Gasoline inventories increased by 1.7 million barrels last week and are about 4% above the five year average for this time of year. Distillate fuel inventories decreased by 1.2 million barrels last week and are about 2% below the five-year average for this time of year. Total commercial petroleum inventories decreased last week by 1.9 million barrels last week

Know where WTI Crude Oil is headed? Take advantage now with 

75% of retail CFD investors lose money


Ex-Wells CEO Announces Settlement

The SEC announced that former Wells Fargo CEO John Stumpf has been banned from ever working at a bank again and will pay $17.5 million for his part in the scandals in which millions of fake accounts were set up to meet sales quotas. The notice from the bank regulator which is the Office of the Comptroller of the Currency said there are other people in their crosshairs including former executives, for their role in the scandals.

The ECB Left Rates Unchanged

The ECB kept its loose policy unchanged on Thursday, said it would reconsider the inflation target that defines its core price-stability mandate, along with the effectiveness and potential side-effects of the tools used to achieve it. In addition to keeping rates unchanged the ECB will examine whether it should alter its 200 billion euro corporate bond holdings to take account of climate change, Christine Lagarde promised she would launch its first strategic review in 16 years.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.