US stocks gave up early gains to turn sharply lower amid more uncertainty over Europe’s energy crisis. Russia’s Gazprom said Friday it would keep the Nord Stream 1 gas pipeline shut down due to a leak. Earlier, payroll data showed a gain of 315,000 last month, which largely matched economists’ forecasts. Loading Something is loading.… Continue reading US stocks turn negative as markets digest job gains and new uncertainty in Europe’s energy crisis
Russia’s Gazprom will keep the Nord Stream 1 gas pipeline shut down after finding a leak, heightening Europe’s energy crisis
Gazprom said late Friday its Nord Stream 1 pipeline would remain shut down indefinitely. The state-run energy firm said it found leaks during a maintenance check. Germany’s economy minister warned that Russia would likely keep the pipeline closed. Loading Something is loading. Russia’s state-run energy giant Gazprom said late Friday it will keep shut ifs… Continue reading Russia’s Gazprom will keep the Nord Stream 1 gas pipeline shut down after finding a leak, heightening Europe’s energy crisis
The stock market could still rally to new highs by the end of the year as plunging oil prices help tame inflation, Fundstrat’s Tom Lee says
Stocks have approached the “no bid” situation seen in June, yet they could still rally to new highs by year-end, according to Fundstrat.The research firm pointed to plunging oil prices as yet another sign that inflation is “dropping like a rock.””Further declines in gasoline should also lower consumer inflation expectations,” Lee said. Loading Something is… Continue reading The stock market could still rally to new highs by the end of the year as plunging oil prices help tame inflation, Fundstrat’s Tom Lee says
Bridgewater, Renaissance and other top hedge funds bought nearly $1 billion of Warren Buffett’s Berkshire Hathaway in the 2nd quarter, report says
Hedge funds bought nearly $1 billion in Berkshire Hathaway stock in the second quarter, the Financial Times said. The funds include DE Shaw, Renaissance Technologies and Bridgewater Associates. Berkshire Hathaway has lost a modest 6% so far this year — far outperforming the S&P 500, which has tumbled 17%. Loading Something is loading. Top hedge… Continue reading Bridgewater, Renaissance and other top hedge funds bought nearly $1 billion of Warren Buffett’s Berkshire Hathaway in the 2nd quarter, report says
Wharton professor Jeremy Siegel says most inflation data is coming in below expectations and the Fed’s hawkish outlook is at odds with economic reality
Inflation is improving and the Fed’s hawkish view is at odds with the economy, Jeremy Siegel said. He noted that 26 of 27 inflation indicators have been below expectations in the last month. It could mean the Fed won’t have to raise rates as much as many observers are expecting. Loading Something is loading. Federal… Continue reading Wharton professor Jeremy Siegel says most inflation data is coming in below expectations and the Fed’s hawkish outlook is at odds with economic reality
US stocks whipsaw in volatile session as the Dow and S&P 500 rebound to end 4-day slump
The Dow rebounded from nearly 300 points down to finish higher after a volatile session. Oil prices dropped more than 3% on downbeat economic data out of China. Meanwhile, the yen dropped to a 24-year low as the greenback strengthened. Loading Something is loading. The Dow rebounded from a nearly 300-point decline as the S&P… Continue reading US stocks whipsaw in volatile session as the Dow and S&P 500 rebound to end 4-day slump
The yen just hit a 24-year low against the dollar as economic data and expectations of continued Fed tightening push the greenback to rally
The yen dipped 0.75% to a 24-year low of 140 against the greenback on Thursday amid expectations of continued Fed tightening. Loose monetary policy in Japan has kept rates low while other central banks are hiking. The dollar has been on an impressive rally this year, causing the euro, the pound, the yuan, and other currencies… Continue reading The yen just hit a 24-year low against the dollar as economic data and expectations of continued Fed tightening push the greenback to rally
Europe needs to cap natural gas prices as industries can’t handle the jump in electricity costs to 1,000 euros, says BofA’s head of commodities
European leaders should put a cap on soaring gas prices, Bank of America’s head of commodities research said Thursday on Bloomberg. Francisco Blanch said European industrial firms are can’t operate effectively with gas-linked electricity costing 1,000 euros per megawatt hour. The European Commission is reportedly looking at ways to cap energy prices. Loading Something is… Continue reading Europe needs to cap natural gas prices as industries can’t handle the jump in electricity costs to 1,000 euros, says BofA’s head of commodities
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