Despite tough economic sanctions, Russia’s oil exports have risen this year as India has snapped up its crude. Yet analysts say Russian output is about to tumble as the EU moves to ban roughly 90% of imports by the end of the year. The impending drop is setting oil markets up for an “insanely difficult”… Continue reading Oil markets are heading for an insanely difficult summer, with Russian production plunging under EU pressure
Tech stocks rebound but US indexes end mixed to cap a week marred by rate-hike jitters
US stocks closed mixed Friday after a volatile, up-and-down trading session. Top indexes finished the week with steep losses as recession fears gripped investors. A new survey found that nearly two-thirds of CEOs expect a recession by the end of 2023. Loading Something is loading. US stocks closed mixed Friday to finish a volatile session… Continue reading Tech stocks rebound but US indexes end mixed to cap a week marred by rate-hike jitters
Lumber prices hover near recent lows as new home construction sinks and mortgage rates jump to highest since 2008
Lumber prices remained near recent lows as construction on new homes fell while mortgage rates jumped. Housing starts dropped 14.4% in May from the prior month to a 1.55 million annualized rate, the lowest in more than a year. The average 30-year fixed-rate mortgage climbed to 5.65% for the week ended June 10, the highest… Continue reading Lumber prices hover near recent lows as new home construction sinks and mortgage rates jump to highest since 2008
US futures rebound after Dow plunges below 30,000 as central banks spark recession fears
US futures rebounded Friday after a sharp sell-off on Wall Street saw the Dow plunge below 30,000. Interest rate hikes from three major central banks this week have added to fears that a recession may be looming. Asian stocks followed Wall Street lower overnight, while oil prices and the dollar rose. Loading Something is loading.… Continue reading US futures rebound after Dow plunges below 30,000 as central banks spark recession fears
The dollar is heading for its biggest yearly gain against the yen in at least 30 years as the Bank of Japan holds fire on rate rises
The dollar is on pace for its strongest annual rise against the Japanese yen since at least 1992. The Federal Reserve is hiking rates aggressively, while the Bank of Japan is sticking to keeping borrowing costs ultra-low. The US currency is up 16.3% against the yen so far in 2022. Loading Something is loading. The… Continue reading The dollar is heading for its biggest yearly gain against the yen in at least 30 years as the Bank of Japan holds fire on rate rises
Warren Buffett’s Berkshire Hathaway likely spent $1.3 billion on stock buybacks over the past 6 weeks
Warren Buffett’s Berkshire Hathaway likely spent $1.3 billion on buybacks over the past six weeks. The outlay is notable, given Buffett didn’t repurchase any Berkshire shares in April. Berkshire spent about $52 billion on buybacks over the course of 2020 and 2021. Loading Something is loading. Warren Buffett’s Berkshire Hathaway spent an estimated $1.3 billion… Continue reading Warren Buffett’s Berkshire Hathaway likely spent $1.3 billion on stock buybacks over the past 6 weeks
Fluency declared as a finalist for G20 TechSprint 2022 Global CBDC Challenge
LONDON, /PRNewswire/ — Fluency has qualified for the final round of the G20 TechSprint 2022. The G20 TechSprint Initiative 2022 is an international competition to explore innovation in order to develop cutting-edge technology-based solutions. It is organised annually by the 20 leading economic nations. This year, the Bank for International Settlements, together with Bank Indonesia, announced… Continue reading Fluency declared as a finalist for G20 TechSprint 2022 Global CBDC Challenge
Dow plunges more than 700 points, Nasdaq falls 4%, and S&P 500 erases 2021 gains as recession fears mount
US stocks plunged on Thursday as investor fears of an economic recession continue to mount.The Federal Reserve Bank of Atlanta’s second-quarter GDP growth forecast fell to 0% on Thursday. The concerns are growing as the Federal Reserve and other global central banks hike interest rates. Loading Something is loading. US stocks plunged on Thursday, with the… Continue reading Dow plunges more than 700 points, Nasdaq falls 4%, and S&P 500 erases 2021 gains as recession fears mount
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