Markets

Shares of Digital World Acquisition Corporation, the special purpose acquisition company planning to take former president Donald Trump’s social media platform public, slid on Monday as the company announced subpoenas had been issued for some members of its board.  The stock was down as much as 10% on Monday, and was trading at $25.17 as… Continue reading Digital World Acquisition Corp. falls 10% as board members subpoenaed over deal for Trump’s Truth Social

Soon after Russia invaded Ukraine and Western sanctions set in on Moscow, the ruble tanked to historic lows. Yet, four months later, the ruble has become the world’s best-performing currency against the US dollar.  Russian political scientist Ilya Matveev told NPR last week that the currency’s rebound isn’t a sign of a strong economy, nor… Continue reading The Russian ruble is the world’s top-performing currency but its strength masks serious problems in the economy, says political scientist

There are growing signs that the Federal Reserve is less behind the inflation curve than investors think, and that could set the stock market up for more gains ahead, Fundstrat’s Tom Lee said in a Monday note. “Increasingly looks like markets mistook ‘bullwhip’ effect on supply chain (including food) for secular inflation,” Lee said.  The… Continue reading The Fed is not as behind the curve on inflation as investors think, and that sets the stock market up for more gains ahead, Fundstrat says

Analysts at Bank of America laid out three scenarios for the outlook on Brent crude oil prices. The international oil benchmark should average $102 per barrel in 2022 and 2023, BofA said. But it could drop to $75 in a recession or spike to $150 if European sanctions hit Russian supplies. Loading Something is loading.… Continue reading Oil prices could slump to $75 a barrel in a recession — or jump to $150 if European sanctions slam Russian supplies, BofA says

The stock market could surge 7% next week as quarter-end rebalancing leads to a buying spree in equities, according to JPMorgan.The bank expects rebalancing trades to favor equities after a year-to-date decline of nearly 20%.”Next week’s rebalance is important since equity markets were down significantly over the past month, quarter and six-month time periods,” JPMorgan… Continue reading The stock market could surge 7% next week as quarter-end rebalancing drives buying spree for equities, JPMorgan says

Crypto crashes are actually beneficial for the market, industry experts believe. Specifically, a crash helps “stress test” newly built crypto infrastructure, leading to greater efficiency. Market routs and insolvency worries around crypto funds have raised concerns about the sector.  Loading Something is loading. The cryptocurrency market has been on a bumpy ride this year, as… Continue reading Fear not, bitcoin bulls — the current rout will weed out the solid crypto operators from the weak ones. 3 experts explain how

The S&P 500 spiked 3% Friday as US stocks surged and snapped a run of weekly declines.  A drop in bond yields this week helped Wall Street’s key indexes advance after three weeks of losses.  Investors spent the week assessing a round of warnings on recession risks.  Loading Something is loading. US stocks on Friday… Continue reading Dow soars more than 800 points and US stocks snap weekly losing streak as investors assess Fed’s course of future rate hikes

Top economist Mohamed El-Erian warned it is “uncomfortably possible” the Fed will tip the US into a recession.  “The Fed didn’t recognize it had an inflation problem and didn’t respond fast enough,” El-Erian said. Despite recession fears, he expressed some optimism around the strength of its labor market. Loading Something is loading. As recession alarms… Continue reading A recession stemming from the Fed’s slow reaction to fight scorching-hot inflation is ‘uncomfortably possible’, says top economist Mohamed El-Erian