Markets

People in Poland are burning garbage to keep warm as the energy crisis in Europe intensifies.  Meanwhile, Romania is capping the price of firewood at about $80 per cubic meter.  Russia’s invasion of Ukraine has upended Europe’s energy supply ahead of winter.  Loading Something is loading. Europe’s energy crisis is pushing Polish citizens to burn… Continue reading People in Poland are burning garbage, and Romania is capping firewood prices as desperation grows amid Europe’s energy crisis

The Federal Reserve will want to see the US labor market shedding jobs before it stops raising interest rates, Bank of America said Thursday.  To fight inflation, policymakers are hiking rates “with the expressed purpose of rebalancing the labor market,” the investment bank said.  The Fed may not stop raising the fed funds rate until… Continue reading The Federal Reserve will continue to raise interest rates ‘until the labor market cracks,’ Bank of America says

A cap on the price of Russian oil would give countries more leverage to negotiate better prices from suppliers. A Treasury official added that the US had “positive” talks with China and India, major buyers of Russian crude. G7 nations are ironing out details about the cap, such as penalties for countries who don’t adhere… Continue reading A cap on the price of Russia oil would give countries more leverage to negotiate better prices from suppliers, US official says

As the platform passes one year since its Bitcoin NFT marketplace was released, Gamma.io has launched a .btc domain marketplace for web3 decentralized identities. , /PRNewswire/ — Gamma.io, the leading open marketplace for Bitcoin NFTs, has announced the launch of its BNS marketplace for .btc decentralized identities and domains, built on the Stacks programming layer… Continue reading Leading Bitcoin NFT Marketplace Gamma.io Announces .btc Domain Marketplace

Carla Mozée Spencer Platt/Getty Images US stocks closed lower Wednesday following volatile swings in the final minutes of the trading session. The S&P 500 energy sector gained on the back of rising oil prices, after OPEC+ decided to cut production by 2 million barrels a day.  ADP said jobs at private-sector employers increased by 208,000… Continue reading US stocks close lower after volatile late swings to snap massive 2-day rally.

Oil prices rose Wednesday after OPEC+ said it will cut production by 2 million barrels a day starting in November.  The group said “uncertainty” surrounding the global economic outlook fed into its decision.  President Joe Biden reportedly expressed disappointment over the decision.  Loading Something is loading. Oil prices turned higher Wednesday after OPEC and its… Continue reading Oil prices rise after OPEC+ agrees to cut production by 2 million barrels a day, extending a winning streak to a 3rd session

Elon Musk’s offer to purchase Twitter for $44 billion is far more than what the company is actually worth, Kevin O’Leary said. “I don’t think it’s worth $10 billion,” O’Leary said to CNBC, emphasizing the need for new management in the company. He urged Musk to “get out the whacking stick” and start fresh with… Continue reading ‘Shark Tank’ investor Kevin O’Leary says Twitter isn’t even worth $10 billion and Elon Musk should start from scratch if he wants to make his money back

The S&P 500’s 2nd-quarter earnings per share is set to drop 10% thanks to Berkshire Hathaway.Warren Buffett’s conglomerate reported an unrealized investment loss of $67 billion last quarter due to the broad stock market decline. S&P Dow Jones Indices estimates that Berkshire’s unrealized investment loss will lower the S&P 500’s EPS by $4.74. Loading Something is… Continue reading Warren Buffett’s stock portfolio is so large that unrealized investment losses in the 2nd-quarter led to a 10% decline in earnings per share for the whole S&P 500