The sell-off in the stock market should be short lived as the US economy avoids a recession, according to JPMorgan’s Marko Kolanovic.Strength in the consumer, policy stimulus in China, and an ongoing recovery from COVID should power the economy forward, Kolanovic said.”Our positive view is driven by the fact that the year-to-date move in markets… Continue reading The latest sell-off in stocks doesn’t mark the beginning of a bear market cycle as the US is poised to avoid a recession, JPMorgan’s quant guru says
Binance is facing a fresh lawsuit over misrepresentations of failed stablecoin TerraUSD on the platform
Binance is facing a new lawsuit over an alleged misrepresentation of the stablecoin TerraUSD, Bloomberg reports. The investor, Jeffrey Lockhart, claims Binance failed to clarify that TerraUSD was a security. Binance says the lawsuit is baseless and that the exchange abides by the necessary regulations. Loading Something is loading. Binance is facing a new lawsuit… Continue reading Binance is facing a fresh lawsuit over misrepresentations of failed stablecoin TerraUSD on the platform
S&P 500 closes in bear market territory as investors digest inflation data and brace for larger rate hike
The S&P 500 closed in bear market territory Monday, and the index touched its lowest point of 2022. Crypto also entered free fall Monday, and bitcoin shed as much as 15%. BlackRock analysts say it’s not time to buy the dip yet, as Fed tightening and inflation present risks. Loading Something is loading. The S&P… Continue reading S&P 500 closes in bear market territory as investors digest inflation data and brace for larger rate hike
The Fed will hike rates by 75 basis points this week and that should push the US dollar to record highs, Jefferies says
The Federal Reserve this week will deliver its largest rate hike in 28 years to tackle scorching inflation, a move that should push the US dollar to a fresh high against its major currency rivals, Jefferies said Monday. Loading Something is loading. The Federal Reserve will raise interest rates by 75 basis points this Wednesday,… Continue reading The Fed will hike rates by 75 basis points this week and that should push the US dollar to record highs, Jefferies says
Inflation could hit 9% — and prices increases would have been ‘partially avoidable’ if the Fed had acted sooner, top economist says
Top economist Mohamed El-Erian said US inflation could get worse and may reach 9%. US inflation surged to a 41-year high of 8.6% in the year through May. El-Erian criticized the Federal Reserve for not responding to inflation early enough. Loading Something is loading. Top economist Mohamed El-Erian said US inflation may reach 9% and… Continue reading Inflation could hit 9% — and prices increases would have been ‘partially avoidable’ if the Fed had acted sooner, top economist says
Bottlenecks at oil refineries have sent US gas prices soaring to top $5 a gallon — and the crisis is unlikely to end soon
Gas prices have surged to record highs, hurting US drivers and causing a nightmare for Joe Biden. Rocketing oil prices are at the root of the problem, but unprecedented bottlenecks at oil refineries are making it worse. The pandemic hit the refining industry hard, and analysts say there are no quick fixes to the current… Continue reading Bottlenecks at oil refineries have sent US gas prices soaring to top $5 a gallon — and the crisis is unlikely to end soon
Top American Gamer Celebrity Jerome Backs The gDEX Metaverse With His 9 million Followers
, /PRNewswire/ — The revolutionary Play to Earn gaming platform www.gDEXmetaverse.com (Decentralized Finance Gaming Platform Exchange) today revealed that star gamer Jerome ASF is a key Advisor at gDEX in an initiative to build the platform that not only exceeds expectations but builds endless possibilities for all. gDEX has already created major ripples in the Metaverse… Continue reading Top American Gamer Celebrity Jerome Backs The gDEX Metaverse With His 9 million Followers
Stocks will roar higher if the latest 40-year high in inflation marks a peak, says a Wall Street chief strategist
A peak in inflation is what’s required for the stock market to rally, according to James Paulsen of The Leuthold Group.Paulsen believes the likelihood of a recession is remote.”If the economy is not already in a recession, history suggests the contemporary expansion may still last for several more years.” Loading Something is loading. Concerns about… Continue reading Stocks will roar higher if the latest 40-year high in inflation marks a peak, says a Wall Street chief strategist
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