Investors continue to worry that stronger-than-expected economic data will lead authorities to keep interest rates higher for longer. Potentially, this will weigh on the economy next year, as the stock market inched mostly down on Wednesday. The S&P 500 dropped 7.34 points to 3933.92, extending its losing streak to five days. The Nasdaq Composite focused …
Almost anywhere around the globe, buying a home has become a tall task. With real estate companies buying out houses and apartments way past market prices, it’s become difficult for the retail buyer to compete. You either need to expect to pay through the nose or be a tenant for the majority of your adult …
Oil Is Approaching 2022 Lows Weakening fears that a Western cap on Russian oil prices would significantly reduce supply and worries about the economy led to a brief decline in oil prices on Wednesday, with Brent crude falling almost to its year low. The dollar suffered due to warnings from major US banks about a …
The Dollar Is Flat as The Outlook for Growth Dims The dollar showed little movement on Wednesday. The Chinese yuan strengthened simultaneously as the authorities relaxed some of the nation’s zero-COVID regulations. Leading bankers from JPMorgan, Bank of America, and Goldman Sachs stated overnight that they are preparing for an economy that will deteriorate next …
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The new offering from the fintech firm, Robinhood, has a waitlist. In an uncertain economy, Robinhood Markets offers its consumers retirement accounts for the first time, hoping that the tax benefits and matching contributions will spur investment interest. Until a user’s annual contribution limit is reached, the company will match 1% of what they contribute …
Global economic growth will average under 3% per year over the next decade, down from 3.6324% before the financial crisis. It will then gradually decline, reflecting a slowing in labor force growth. Two decades after famously laying out long-term growth projections for the so-called BRIC economies, economists led by Jan Hatzius have expanded their projections …
The dollar increased, extending the previous session’s substantial gains following strong U.S. services data. At the same time, the euro fell despite strong German industrial production figures. The dollar Index rose 0.1021% to 105.3102, following a 0.7% gain on Monday, its biggest since Nov. 21. The dollar rose Monday after the Institute for Supply Management’s …
A price cap on Russian seaborne oil, according to EU ministers, would be effective despite efforts by the Kremlin to evade sanctions and widespread market skepticism of the proposal. In a coordinated effort to reduce Moscow’s ability to finance its conflict in Ukraine, the EU, the G-7, and Australia decided to cap Russian oil purchases …
Concerns over whether aggressive Federal Reserve tightening might lead to a recession triggered stocks to plunge on Monday. After capping a back-to-back weekly rise, the S&P 500 was under fire. The Federal Reserve’s potential to slow down its interest-rate increases boosted the benchmark index by 1.2% last week, extending a November rally. The Nasdaq Composite …
On Monday, the pound and Japanese yen dipped from multi-month highs against the dollar as traders, investors, and analysts speculated on whether the greenback’s recent bout of weakness was coming to an end. The dollar rose 0.7% against the yen to 135.217, bouncing from Friday’s three-and-a-half month low of 133.62, while sterling fell 0.5% to …
One of AMC’s leads has left the company. According to the entertainment firm, Chief Executive Christina Spade resigned less than three months after taking the position. The search for a successor to AMC’s board is nearing completion. In addition, the firm announced plans to dismiss around 20% of its U.S. workers. A sign of more …
According to individuals familiar with the discussions, Apple has accelerated its intentions to relocate some of its manufacturing outside China. It has long been the principal nation in the manufacturing chain. They claim to be instructing manufacturers to prepare more carefully for Apple devices production elsewhere in Asia; they are considering India and Vietnam. They …
The Dollar Remained Stable The dollar held steady but was pinned near sixteen-week lows against a basket of major currencies and, in October, fueled investor hopes that interest rates would soon peak. The dollar index compares the currency to six other currencies, including the yen and euro. It rose 0.191% to 104.840, but it was …
The all-important jobs report caused a lot of volatility near a key technical level. Traders were looking for indications of the Federal Reserve’s next policy moves. Bond yields fell, and the dollar weakened. A battle erupted near the 200-day moving average of the S&P 500, which some investors saw as signaling that a rally would …
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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 …
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