Markets

Oil prices climbed Tuesday as China tries to boost growth amid a disappointing post-COVID rebound. The People’s Bank of China unexpectedly trimmed its short-term lending rate.  US inflation data also raised hopes on Wall Street for a pause in Fed rate hikes. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading Oil prices jump as China looks to kickstart its economy while Wall Street eyes Fed pause

China just slashed short-term interest rates in its economy to 1.9%. Meanwhile, the government is mulling a big stimulus package to prop up key sectors. That comes as the nation posts a disappointing recovery while dialing back its zero-COVID policies. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized… Continue reading China slashes interest rates and mulls big stimulus package in bid to revive slowing economy

Russia has revived its oil trade with long-time ally North Korea as the Kremlin’s war on Ukraine drags on. Russia has exported 67,000 barrels of oil to North Korea since December, a UN report said. North Korea has been accused of sending Russia weapons for its war in Ukraine. Loading Something is loading. Thanks for… Continue reading Russia revives oil exports to North Korea as US sounds alarm on more arms sales for Ukraine war

Jeremy Siegel is wary of stocks, expecting a recession, and predicting the Fed won’t hike again. The retired Wharton professor doubts the stock market will keep surging or hit a new low. Siegel sees a mild recession and the Fed ending its war on inflation to minimize job losses. Loading Something is loading. Thanks for… Continue reading The stock rally will end soon, recession will hit, and the Fed won’t hike interest rates again, markets guru Jeremy Siegel predicts

The US economy’s resilience has taken Goldman Sachs CEO David Solomon by surprise.  “The US economy has been incredibly resilient, and I would say that I have been surprised over the course of last year,” he told CNBC.  At the same time, Solomon warned the commercial real-estate sector faces bumps down the road.  Loading Something… Continue reading Goldman Sachs CEO David Solomon is surprised at the economy’s strength – but warns of commercial real-estate pain

Inflation doesn’t need to get down to the Fed’s 2% price target, according to top economist Paul Krugman. That’s because the 2% inflation target was drawn from incorrect conclusions about interest rates. The Fed risks a recession if it raises rates to further lower inflation, experts have warned. Loading Something is loading. Thanks for signing… Continue reading Nobel economist Paul Krugman says inflation doesn’t need to get down to 2% and the Fed can back off because people have stopped caring

Russia plans to sell more Chinese yuan from its wealth fund this month as oil and gas revenue weakens. The Kremlin expects to sell 74.6 billion rubles worth of foreign currency in June. Oil and gas revenue last month fell short of expectations by 30.6 billion rubles. Loading Something is loading. Thanks for signing up!… Continue reading Russia is ramping up sales of yuan from its wealth fund as oil and gas revenue weakens

Hackers backed by North Korea have stolen $3 billion of crypto in five years.  They use a variety of elaborate schemes, including posing as employment recruiters, to get access to sensitive info.  The stolen crypto is funding 50% of the dictatorship’s ballistic missile program, WSJ reported.  Loading Something is loading. Thanks for signing up! Access… Continue reading North Korean hackers have stolen $3 billion of crypto in 5 years by masquerading as recruiters, IT workers, and government officials to dupe victims