The US Treasury upped its sanctions against Russia on Monday by prohibiting US investors from buying Russian securities.The updated guidance from the Treasury Department says US investors can no longer purchase Russian debt or stocks in the secondary market.Russia’s central bank had already closed its stock market to foreign investors in the early days of… Continue reading The Treasury is blocking US investors from buying all Russian debt and stocks as sanctions against Moscow continue to pile up
China has the world’s largest foreign exchange reserves — and it just grew for the first time in 2022 as the US dollar strengthens
China’s foreign exchange reserves, which are the world’s largest, increased for the first time this year, state data shows. China’s reserves rose by $80.6 billion last month to reach $3.13 trillion in May. The growth came as the US dollar hit a 20-year high last month. Loading Something is loading. China’s foreign exchange reserves —… Continue reading China has the world’s largest foreign exchange reserves — and it just grew for the first time in 2022 as the US dollar strengthens
US stocks close higher but lose steam as 10-year Treasury yield jumps back above 3%
US stocks closed slightly higher Monday, losing some steam from earlier in the day as key bond yields rose. WTI Crude Oil prices briefly surged above $120 per barrel on Monday for the first time since March.Twitter fell and Tesla climbed as Elon Musk signaled he could walk away from the deal to acquire the company.… Continue reading US stocks close higher but lose steam as 10-year Treasury yield jumps back above 3%
Hackers and criminals have laundered over $2 billion through crypto exchange Binance since 2017, report says
Binance unknowingly processed billions in illicit transactions, according to a report from Reuters. Transactions included illegal drug sales, hacks, and investment fraud totalling $2.35 billion In a statement to Insider, a spokesperson for the exchange strongly refuted the claims made in the report. Loading Something is loading. Cryptocurrency exchange Binance processed billions in illicit transactions,… Continue reading Hackers and criminals have laundered over $2 billion through crypto exchange Binance since 2017, report says
Bitcoin extends its 3-day gain above $31,000 as crypto investors flee more volatile altcoins
Bitcoin on Monday marked a third straight gain, pushing above $31,000. Altcoins last week logged “virtually no inflows,” according to CoinShares. Ether had its ninth straight week of outflows and investment in solana slowed significantly. Loading Something is loading. Bitcoin stretched a winning streak on Monday, with institutional investors recently pouring money into the world’s… Continue reading Bitcoin extends its 3-day gain above $31,000 as crypto investors flee more volatile altcoins
US gas prices hit a new all-time record as 10 states pay $5 or more per gallon
US gas prices hit a record high on Monday, at $4.865, according to AAA. Now, 10 states are paying at or above $5 a gallon for gas, up from seven states last week. One gas station in California is charging $9.60 per gallon. Loading Something is loading. The national average for gas prices in the… Continue reading US gas prices hit a new all-time record as 10 states pay $5 or more per gallon
Affirm sinks after Apple announces its own buy-now-pay-later option at WWDC event
Affirm stock fell 6% on Monday after Apple announced its own Buy Now, Pay Later payment option.Apple Pay Later allows users to split the cost of an Apple Pay purchase into four equal payments with no interest.The new offering from Apple works with any merchant that already supports Apple Pay, and does not require a… Continue reading Affirm sinks after Apple announces its own buy-now-pay-later option at WWDC event
The S&P 500 has room to rally 7% before resuming its longer-term downtrend ahead of more Fed tightening, Bank of America says
A contrarian buy indicator suggests the S&P 500 is poised to surge 7% to 4,400, Bank of America said in a Friday note.But investors should then short the stock market as its longer-term downtrend is likely to resume, according to the note.”No fun ’til Fed [is] done, and in 2022 that requires [a] negative payroll… Continue reading The S&P 500 has room to rally 7% before resuming its longer-term downtrend ahead of more Fed tightening, Bank of America says
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