Markets

Oil prices fell Wednesday following reports the European Union is thinking about capping Russian oil prices at $65-$70 a barrel.  The Group of Seven nations has been working on a price cap since Russia’s invasion of Ukraine.  But several EU diplomats said the proposed range was too high, Bloomberg reported.  Loading Something is loading. Thanks… Continue reading Oil drops 4% as the EU considers capping Russian oil prices between $65-$70, with the bloc split on the potential move

El Salvador is making moves that could lead the country to raise $1 billion in bitcoin-backed bonds.  The economy minister submitted a bill that seeks to broaden the legal framework to lead to the adoption of all cryptocurrencies.  The IMF has objected to El Salvador’s exposure to bitcoin.  Loading Something is loading. Thanks for signing… Continue reading El Salvador is moving toward raising $1 billion in bonds backed by bitcoin by broadening its bet on crypto

The FTX disaster has created a “deficit of trust” in crypto, according to bitcoin bull Mike Novogratz. The industry should and will get regulated he said, pointing to the fallout of Sam Bankman-Fried’s crypto exchange. But while investors are being rocked by this bout of volatility, crypto isn’t going anywhere, he told CNBC.  Loading Something… Continue reading Billionaire bitcoin bull Mike Novogratz says crypto should and will be regulated and the FTX disaster has created a ‘deficit of trust’ in the whole industry

An extremely rare signal flashed in the stock market on Tuesday, suggesting big gains ahead.That’s according to Fundstrat’s Tom Lee, who highlighted a surge in the put-to-call ratio despite a jump in the S&P 500.Since 1997, there have been only three instances when the put-to-call ratio surged above 1.0 on the same day stocks jumped… Continue reading The stock market just flashed an extremely rare signal that has a solid track record for strong gains ahead, Fundstrat says

Matthew Fox A trader works at the New York Stock Exchange NYSE in New York, the United States, on March 9, 2022. Michael Nagle/Xinhua via Getty US stocks surged on Tuesday as investors prepare for a possible December slowdown in Fed interest rate hikes.Market consensus currently expects a rate hike of just 50 basis points… Continue reading US stocks surge as investors prepare for the Fed to slow the pace of rate hikes

Manchester United shares soared Tuesday following a Sky News report the UK soccer club may be put up for sale.  The American family that owns the team is preparing to announce it’s exploring financial options for the Old Trafford team.  Manchester United earlier Tuesday parted ways with famed forward Cristiano Ronaldo.  Loading Something is loading.… Continue reading Manchester United soars 18% after report says the UK soccer team’s American owners may decide to sell it

We’re nowhere near a market bottom, economist David Rosenberg told CNBC. He pointed to the inverted yield curve and continued Fed tightening, which both prevent stocks from hitting a low. Rosenberg has been a loud critic of the Fed’s aggressive rate hikes to kill inflation, calling a recession a “sure thing.” Loading Something is loading.… Continue reading We’re nowhere near a market bottom and stocks won’t hit a low until the yield curve improves and the Fed stops tightening, top economist David Rosenberg says

The European Union’s executive arm said Tuesday it’s aiming to limit European natural gas prices at €275 per megawatt hour.  If approved, the cap would be automatically triggered if two conditions related to benchmark prices are met.  Dutch TTF futures this year soared to record highs of more than €300 megawatts per hour in the… Continue reading A European Union may cap natural gas prices at 275 euros to blunt the energy crisis caused by Russia’s war on Ukraine