US stocks ended higher Thursday, with tech shares contributing to an extension of a bear-market rally as investors prepared to assess the health of the US job market. The Nasdaq Composite was the strongest performer among Wall Street’s big indexes, but all three gauges notched their fourth consecutive wins. Chip makers including Intel and Nvidia… Continue reading Nasdaq jumps 2% as US stocks notch 4th straight win ahead of June jobs report
Billionaire crypto bull Mike Novogratz says the market is 90% through its deleveraging cycle but prices will be choppy until there’s a narrative shift
Galaxy Digital CEO Mike Novogratz, the crypto bull who has made billions investing in crypto, said excessive amounts of debt that the crypto sector previously had are leaving, but most of it is gone now. “It feels like we’re 90% through that deleveraging,” he said in an interview with CNBC. “The problem is for you… Continue reading Billionaire crypto bull Mike Novogratz says the market is 90% through its deleveraging cycle but prices will be choppy until there’s a narrative shift
Indonesia, the world’s top cooking-oil exporter, may cut a palm oil levy to boost shipments after a prior ban swelled inventories
Phil Rosen A worker harvests oil palm fruits, used to produce palm oil, at a plantation in Kutamakmur, Aceh on September 24, 2021. Azwar Ipank/AFP via Getty Images Indonesia, the world’s top producer of palm oil, may lift its palm oil export levy as a way to boost shipments, according to a cabinet minister. “For… Continue reading Indonesia, the world’s top cooking-oil exporter, may cut a palm oil levy to boost shipments after a prior ban swelled inventories
A closely watched recession indicator is flashing again after the Fed minutes reveal another big rate hike could be on the way
A closely watched recession indicator is flashing again after the minutes of the Federal Reserve’s June meeting revealed another large rate hike could be coming this month. The closely watched spread between the 2-year and the 10-year Treasury yield further inverted upon release of Fed’s June meeting minutes, which suggesting another rate hike is on… Continue reading A closely watched recession indicator is flashing again after the Fed minutes reveal another big rate hike could be on the way
Russian demand for China’s currency has surged 8x with ruble-yuan trading volumes at record highs
Russians are embracing the Chinese yuan as Western sanctions on Moscow spur a drive to diversify away from the dollar and euro. Purchases of the yuan have jumped eightfold since May 20, when Russia’s central bank eased foreign exchange restrictions, state bank Otkritie said, according to Reuters. “The Chinese yuan has shown stability and relatively… Continue reading Russian demand for China’s currency has surged 8x with ruble-yuan trading volumes at record highs
Consumer Sector: Signs of Strength, Signs of Weakness
Consumer spending is the most important part of the economy, accounting for more than two-thirds of GDP. The numbers for May weren’t too encouraging. Personal-consumption expenditures rose only 0.2% in that month from April and fell 0.4% in real (inflation-adjusted) terms. Retail sales, including restaurants and not adjusted for inflation, slid 0.3% in May. “The… Continue reading Consumer Sector: Signs of Strength, Signs of Weakness
Jobs Market: Half-Full or Half-Empty?
The strength of May’s employment numbers surprised many experts, with nonfarm payrolls adding 390,000 workers. The June report is due July 8, and economists expect a deceleration to a gain of about 270,000, according to a Bloomberg survey. That would represent one of the smallest increases during the economic recovery that began in May 2020.… Continue reading Jobs Market: Half-Full or Half-Empty?
Shop These Under $13 Desk Essentials Just Before Prime Day
Get more for less when you score these desk essentials on sale. The Arena Media Brands, LLC and respective content providers to this website may receive compensation for some links to products and services on this website. Prime Day will take place on July 12 and 13, but you don’t have to wait to start… Continue reading Shop These Under $13 Desk Essentials Just Before Prime Day
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