Markets

Iran has been selling more of its crude as Saudi Arabia and Russia dial back oil production. The nation sold 1.6 million barrels a day on average in May and June, notching a five-year record. Iranian suppliers are offering a $30 per barrel discount compared to their Persian Gulf rivals, officials said. Loading Something is… Continue reading Cheap oil from Iran is filling the hole left by Saudi Arabia and Russia’s productions cuts

The US labor market still looks like it’s running hot.  Thursday’s ADP data was double economists’ estimate, with a headline gain of 497,000 jobs. The reading suggests further rate hikes from the Fed and pain ahead for stocks.  Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while… Continue reading Why the latest job-market data is a worst-case scenario for stock bulls

The S&P 500 is on track to hit the 5,000 level by 2024 based on prior secular bull markets, according to Bank of America.The bank compared the current bull market that began in 2013 to secular bull markets in the 1950s and 1980s.The presidential cycle should serve as a tailwind for stocks into the middle… Continue reading The bull market in stocks is on track to push the S&P 500 to 5,000 by 2024, Bank of America says

The BRICS bloc is challenged by its own mixture of political and economic types, Nouriel Roubini said. Apart from India, each member is seeing mediocre growth.  “The idea that the BRICS are going to take over the world turned out not to be right.” Loading Something is loading. Thanks for signing up! Access your favorite… Continue reading Nouriel Roubini says the idea that BRICS countries will create a new world order is wrong as they are a ‘mishmash’ of systems

When inflation was at its peak last summer, Michael Burry predicted it would fall within months. The “Big Short” investor was right, as price growth has slowed from 9.1% last June to 4% in May. In contrast, Burry’s warnings of a historic stock-market crash and a recession are yet to pan out. Loading Something is… Continue reading ‘Big Short’ investor Michael Burry predicted inflation would plunge – but his calls of a stock-market crash and recession are yet to come true

 Goldman Sachs said Netflix is executing well on its password-sharing and advertising initiatives.The bank upgraded Netflix stock to “Neutral” from “Sell” and increased its price target to $400.Netflix could grow its revenue by 55% to $49 billion by 2025, according to Goldman. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading Netflix’s password-sharing crackdown is going so well that one Wall Street bear just upgraded the stock

Russia’s ruble fell further against the dollar in the aftermath of Wagner’s mutiny attempt. The currency slipped to around 91 per US dollar, blowing past its optimal value range. The ruble has been one of the worst-performing currencies in 2023, slipping 21% from levels in January. Loading Something is loading. Thanks for signing up! Access… Continue reading The Russian ruble just blew through its ‘comfort zone’ as the currency weakens in the aftermath of failed mutiny

Investors should take advantage of the recent rally in stocks and prepare for losses by buying insurance, according to Goldman Sachs. The bank said the narrow leadership from mega-cap tech stocks means the downside risk is elevated. These are the five reasons why Goldman Sachs says now is the time to hedge your portfolio. Loading… Continue reading 5 reasons investors should start preparing for stock market losses