Market News

Global stocks markets ended on a strong bearish note on Friday after financial regulators shut down one of the leading lenders in the United States, the Silicon Valley Bank (SVB). This week all eyes will be on the US inflation data, which could reinforce expectations of a bigger rate hike later this month.

Social media stocks have been on the rise in the stock market over the past 3 trading sessions after the White House backs a bipartisan bill that could be used to ban TikTok. While Snap could be poised to be the biggest beneficiary since it offers more or less the same features as TikTok.

The coronavirus pandemic, which broke out in full in March 2020, dealt a major blow to the world economy. It showed how vulnerable it is in the light of advancing globalization. Gulf Brokers analysed how the disruption of supply chains has caused a large-scale supply shock and pushed many industries to the very edge of their existence.

The focus of the market this week will be the speech of the Federal Reserve chair Jerome Powell. Powell testifies before Congress on Tuesday and Wednesday. Investors will also be watching Friday's US nonfarm payroll data.

Precious metals, major indices and commodities started the new week on a nervous note as the US rate hike worries still weighing on the markets. Moving ahead, the markets have a lot of economic data to digest this week and the main highlights of the economic calendar will be the US durable goods orders data, ECB minutes and the latest PMI numbers from US, Eurozone and UK.