Oil Futures Prices Were Mixed Oil futures were mixed on Friday, buoyed by hopes of further easing of COVID restrictions in China. That could help revive demand in the world’s second-largest economy, but a stronger dollar limited gains. Brent crude futures were down one cent, or 0.01%, to $86.87, after rising to $87.40 earlier. WTI …
Elon Musk’s SpaceX received conditional approval from US authorities. This means the green light to build a new large constellation of Starlink satellites subsequently. Shortly, the plan is to make 7,500 spacecrafts. SpaceX was initially known as Space Exploration Technologies Corp. Musk’s closely held firm informed the FCC in May that it had conducted around …
SpaceX Given Green Light on 7,500 More Starlink Satellites Read More »
OPEC Oil Output Drops in November After the OPEC+ alliance promised drastic output cuts to support the market in the face of a deteriorating economic outlook, OPEC oil output fell in November, with Saudi Arabia, the organization’s top exporter, and other Gulf members leading the decline. According to the survey, the Organization of Petroleum Exporting …
Sterling at Fresh 16-Week High On Thursday, sterling rose to a near 16-week high against a broadly weak dollar, with currency traders ignoring gloomy British manufacturing data for the time being. The pound was last up 0.8% against the dollar, trading at $1.2157, its highest level since August 12, surpassing the previous high of $1.2153 …
Powell Signaled a Downshift in Rate Hikes Jerome Powell of the Federal Reserve indicated that the Fed will raise interest rates by a half percentage point at its next meeting. This means an end to an unprecedented four-year run of 0.75-point increases aimed at preventing high inflation. Chairman Powell said the Fed needed to be …
Christmas is a good time for the hospitality industry. With tons of people moving around, staying in hotels, and attending parties and gatherings, it’s a time of high profits. On top of that, hospitality service providers also have a chance to hike up their prices due to a time of higher demand. However, this year’s …
Oil Has Increased by More than 2% On Wednesday, oil prices increased by more than 2% due to tighter supply, a falling dollar, and hope for a recovery in Chinese demand. The gains were, however, constrained by the likelihood that OPEC+ will maintain output at its upcoming meeting. Brent crude futures were up $2.06, or …
Traders Are Pessimistic About the Upcoming Powell Speech Traders were hesitant to make large bets in advance of Jerome Powell’s speech on Wednesday, so stocks cut much of their losses. Gains in energy and financial companies tempered big tech’s decline. Amazon.com’s stock has dropped as the company sells investment-grade debt. The average volume for the …
Stocks Finish Lower in Run-Up to Powell’s Speech Read More »
The Dollar Is Set to Suffer Its Largest Monthly Loss On Wednesday, the dollar fell from a one-week high ahead of Federal Reserve Chair Jerome Powell’s speech. At the same time, optimism about possibly loosening China’s COVID restrictions set it on track for its huge monthly loss since late 2010. In the Eurozone, inflation in …
The Dollar Is Set to Suffer Its Largest Monthly Loss Read More »
US Treasury yields fell on Tuesday as investors focused on developments in China and Federal Reserve officials’ comments on monetary policy plans. More than three basis points recently reduced the benchmark 10-year Treasury yield to 3.666%. After falling by more than three basis points, the two-year Treasury yield was last trading at around 4.4381%. Yields …
Oil Prices Are Rising Oil futures rose on Tuesday, supported by signs that China may relax COVID-19 restrictions following protests that sent crude prices tumbling the previous session. Early on Monday, oil prices dropped sharply. They briefly wiped out their gains from 2022, as protests in China over the country’s stringent COVID-19 restrictions sparked worries …
Investors have had a rough ride throughout most of 2022, and Monday was no exception. As markets were impacted by Chinese social unrest over the protracted COVID limits, stock markets dropped. Demonstrations erupted over the weekend in mainland China, and people voiced their displeasure with Beijing’s zero-COVID policy. Earlier this month, Beijing adjusted some policies …
Stock Markets Close Lower Due to China’s Social Turmoil Read More »
Dollar Weakens, Yuan Rises The U.S. Dollar fell in early European trade on Tuesday, while the Chinese renminbi rose on hopes that the Chinese government will ease travel restrictions and increase risk appetite. The Dollar, which measures the value of the U.S. Dollar against a basket of six other currencies, fell 0.4011% to 106.165 after …
What is cryptocurrency lending? A way for people to generate money out of thin air is through crypto lending! The technique is comparable to borrowing money from other investors. But the person in charge of the crypto lending industry betrayed customers’ confidence. And used their money to gamble on high-risk venture capitals that lost all …
Nowadays, many companies are looking to step into the digital space as a way to increase their profits. The benefits of doing so have been well-recorded, with many market giants using digital business as their primary business model. Furthermore, many successful companies operate on an online-only model. And while the model has a unique set …
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