The stock market jumped about 3% on Tuesday as investors continue to assess 2nd-quarter earnings.Tuesday’s surge helped the Nasdaq 100 reclaim its 50-day moving average for the first time since April.Of the 43 S&P 500 companies that have already reported results, about 60% beat profit and sales expectations. Loading Something is loading. US stocks soared… Continue reading Nasdaq surges 3% to reclaim key level for the first time since April as investors assess earnings
Goldman Sachs president John Waldron says the Fed is making the right moves to tackle inflation – after saying the central bank had lost its credibility at the start of the year
Goldman Sachs President John Waldron is “impressed” with the Fed’s swift interest rate hikes.Waldron previously said the Fed lost credibility when inflation was surging but it wasn’t raising rates.”I think it’s important to reset the price of money in the economy, which is something the Fed is very focused on,” Waldron said. Loading Something is… Continue reading Goldman Sachs president John Waldron says the Fed is making the right moves to tackle inflation – after saying the central bank had lost its credibility at the start of the year
The plan to cap the price of Russian crude oil is ‘ridiculous’ and would push prices up further, energy expert says
IAGS co-director Gal Luft said plan to put a price cap on Russian oil was “ridiculous”. Oil prices cannot be forced down artificially, Guft said, and the plan will not work. Luft thinks the cap will only cause Russia to retaliate, potentially raising prices to $140 a barrel. Loading Something is loading. Attempts by Western… Continue reading The plan to cap the price of Russian crude oil is ‘ridiculous’ and would push prices up further, energy expert says
Russia’s Nord Stream 1 pipeline will resume gas flows on time – but at reduced levels, report says
Russia will resume gas flows via the Nord Stream 1 pipeline on schedule, sources told Reuters. The pipeline went offline for 10 days on July 11 for annual maintenance and is due to restart on Thursday. The Nord Stream 1 carries more than one-third of Russia’s natural gas exports to Europe. Loading Something is loading.… Continue reading Russia’s Nord Stream 1 pipeline will resume gas flows on time – but at reduced levels, report says
US stocks turn lower as Apple reportedly plans to slow hiring and spending amid economic uncertainty
US stocks reversed lower Monday after Bloomberg reported Apple will slow hiring and spending. A housing market gauge showed builder confidence slowed to a pandemic-era low. Cryptocurrencies bounced back from recent turmoil to regain a $1 trillion market capitalization. Loading Something is loading. US stocks reversed sharply lower Monday after Bloomberg reported Apple plans to… Continue reading US stocks turn lower as Apple reportedly plans to slow hiring and spending amid economic uncertainty
The dollar’s blistering rally cools as the currency falls from 2-decade highs on softer rate hike expectations
The US Dollar Index edged lower on Monday, cooling after a huge rally for the greenback. The dip comes as markets soften rate hike expectations, seeing a 100 basis point jump this month as less likely. The ECB’s next rate hike could lead to further softening of the greenback, according to an analyst. Loading Something… Continue reading The dollar’s blistering rally cools as the currency falls from 2-decade highs on softer rate hike expectations
Russia distances itself from the US dollar further as it moves to trade oil with India using the UAE’s local currency: report
Russia and Indian refiners are set to trade oil not in US dollars but in the UAE’s local currency, Reuters reported. Sources told Reuters that more deals priced in UAE dirhams will happen as Moscow looks to insulate itself from sanctions. Earlier in March, Russia and India held talks for a potential ruble-rupee trade deal.… Continue reading Russia distances itself from the US dollar further as it moves to trade oil with India using the UAE’s local currency: report
A key gauge of the housing market saw its steepest drop since the early days of the pandemic
Builder confidence fell sharply in July, the National Association of Home Builders said Monday. The NAHB attributed the fall to high inflation and rising rates, which are crushing mortgage demand. The drop is the seventh-straight monthly decline and the NAHB’s lowest-ever reading, excluding the early pandemic. Loading Something is loading. High inflation and rising interest… Continue reading A key gauge of the housing market saw its steepest drop since the early days of the pandemic
Recent Post
