Markets

Switzerland imported Russian gold in May for the first time since the war in Ukraine began, Bloomberg reported.  Over three tons of gold from Russia arrived in Switzerland last month for refining or other processing.  There has been a de facto ban on Russian metals in the London market, but no explicit sanctions have been… Continue reading Russia exports gold to Switzerland for the first time since the war in Ukraine began as some buyers soften on self-sanctioning

Europe should be ready for Russia to completely shut off all its natural gas exports,  the IEA chief said.  “The nearer we are coming to winter, the more we understand Russia’s intentions,” he said.  Governments should look for ways to cut fossil fuel demand and invest in clean energy, he added.  Loading Something is loading.… Continue reading Europe should be prepared for Russia to totally cut all natural gas supplies this winter, IEA chief says

US stock futures fell Wednesday, with Dow futures down about 350 points as recession worries returned. Fed Chairman Jerome Powell will appear before lawmakers to talk monetary policy later in the day. Oil prices fell almost 5% on news that President Joe Biden is nearing a decision on a US gas tax holiday. Loading Something… Continue reading Dow futures slide 350 points as stock rally fades, with oil falling and Fed’s Powell on deck to speak

Citi believes there is a 40% chance the US economy could enter recession going into next year.  The bank’s head of capital markets thinks it could take up to 18 months for the Fed’s policies to take effect. The risk of recession is rising as high interest rates and inflation weigh on the economy. Loading… Continue reading Citi sees a 40% chance of US recession going into next year and expects the Fed’s policies to take up to 18 months to take effect

Warren Buffett has repeatedly urged investors to resist giving into fear during market mayhem. The investor views periods of worry and uncertainty as fantastic opportunities to snag bargains. Buffett has warned that panic-selling can be expensive, and may rob investors of long-term returns. Loading Something is loading. For more than three decades, Warren Buffett has… Continue reading Warren Buffett has urged investors not to panic, and instead look for bargains during periods of market mayhem. Here are 7 of his best quotes about fear.

Crypto is set for a highly difficult period after bitcoin plunged below $20,000, a top UBS strategist has said. James Malcolm told Insider crypto’s collaborative spirit has given way to an “every man for himself” attitude. He said crypto is yet to face any meaningful regulations, which are likely to add to the pressure on… Continue reading Crypto markets face a long road back after bitcoin plunges below $20,000 as an ‘every man for himself’ attitude spreads, UBS strategist says

Morgan Stanley, UBS and Wells Fargo all said that a recession became more likely last week. Ordinary Americans seem to agree, with consumer sentiment polls plummeting. The Federal Reserve is hiking interest rates to curb inflation – but that could slow down growth. Loading Something is loading. One word dominated Wall Street’s coverage of last… Continue reading Investment banks are sounding the recession alarm — and Main Street is starting to fret about economic slowdown as well

The stock market is currently pricing in an 85% chance of an economic recession, according to JPMorgan.Both investors and consumers are concerned about an imminent recession amid rising inflation and higher interest rates.”There appears to be heightened concerns about the prospect of a US recession which could become self-fulfilling if they persist,” JPMorgan said. Loading… Continue reading There’s an 85% chance of a recession based on stock market price action as gloomy talk of a downturn becomes self-fulfilling, JPMorgan says