The world’s biggest oil company warned the global energy crisis is poised to get even worse. “If the aviation industry picks up speed, you are going to have a major problem,” Saudi Aramco CEO Amin Nasser told Reuters. He also noted that China’s impending rebound from COVID-19 lockdowns will stress global oil supplies. Loading Something… Continue reading The global energy crisis will get worse if aviation and China put more pressure on an already under-invested sector, Aramco CEO says
The Fed raising interest rates won’t fix inflation and the US needs a different kind of intervention, says Nobel-winning economist Joseph Stiglitz
The Federal Reserve won’t be able to solve the problem of high inflation by raising interest rates, famed economist Joseph Stiglitz told Bloomberg on Monday. The world’s largest economy could use supply-side intervention, the Nobel Prize winner said. The Fed is expected to raise interest rates by 50 basis points at its June meeting. Loading… Continue reading The Fed raising interest rates won’t fix inflation and the US needs a different kind of intervention, says Nobel-winning economist Joseph Stiglitz
Wall Street ends mixed after punishing week
S&P 500 and Nasdaq logged their seventh straight week of losses Author of the article: Reuters Noel Randewich and Amruta Khandekar If the S&P 500 closes below 20 per cent or more, it would confirm a bear market for the first time since the 2020 Wall Street plunge brought on by the COVID-19 pandemic. Photo… Continue reading Wall Street ends mixed after punishing week
The S&P 500 just fell into a bear market for the first time since the pandemic. Here’s what to know about this vicious part of the stock-market cycle.
The S&P 500 briefly entered bear market territory on Friday for the first time since March 2020. A bear market is technically defined as a decline of at least 20% in the stock market from its peak.Here’s everything you need to know about this vicious part of the stock market cycle. Loading Something is loading. The… Continue reading The S&P 500 just fell into a bear market for the first time since the pandemic. Here’s what to know about this vicious part of the stock-market cycle.
Companies are bemoaning the strongest dollar in 20 years. Here’s what experts say to expect for the greenback in the next few months.
The US dollar has been sharply advancing this year, with the widely watched US Dollar Index hitting a 20-year high. Multinational companies including Apple and Pfizer have noted dollar strength could dent financial results. The DXY has jumped 10% during 2022 and it’s likely to stick around high levels in the coming months, experts say. … Continue reading Companies are bemoaning the strongest dollar in 20 years. Here’s what experts say to expect for the greenback in the next few months.
RBC says these 10 beaten-down internet stocks have the most upside in the sector, and names 4 top favorites — as well as the ones most vulnerable in a consumer-led slowdown
US stocks are flirting with a bear market, and it’s been even worse for tech stocks. Based on earnings reports and trends, Brad Erickson of RBC identifies his top picks in the space. Erickson also discussed which stocks are best-positioned for the second half of the year. Stocks are continuing to slide, and at some… Continue reading RBC says these 10 beaten-down internet stocks have the most upside in the sector, and names 4 top favorites — as well as the ones most vulnerable in a consumer-led slowdown
Bank of America says it sees a 1-in-3 chance of a US recession some time next year, but it will be mild by historical standards
Bank of America sees a 1-in-3 chance of a US recession next year, but sees a ‘bumpy landing’ as more likely. If the US does plunge into recession, it will be mild by historical standards, the bank’s economists said. They expect the Federal Reserve to hike interest rates by 30 basis points more than the… Continue reading Bank of America says it sees a 1-in-3 chance of a US recession some time next year, but it will be mild by historical standards
Putin ally China is boosting Russian oil purchases by nearly 50% after initially cutting back
China is ramping up its purchases of Russian oil and picking up the slack of Western buyers. The world’s top oil importer is nearing 1.1 million barrels per day of Russian crude brought by sea, Reuters said. China previously recorded imports of 750,000 barrels per day in the first quarter in 2022. Loading Something is… Continue reading Putin ally China is boosting Russian oil purchases by nearly 50% after initially cutting back
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