Oil fell by about 4% on Wednesday as concerns about the world’s largest economy’s impending recession deepened. Oil fell even after a survey revealed that US crude stocks decreased more than anticipated. Energy Information Administration data showed that US oil stockpiles declined by 5.1 million barrels last week to 460.9 million. It was above analyst Read More…
On Tuesday, US equities plunged, ending the day in the red, while Treasury yields fell. Investors fled for safe havens due to weak economic data and disappointing earnings. The session concluded with all three major indices down by 1% or more. The tech-heavy Nasdaq fell 2%, marking its largest one-day decline since March 9. Those Read More…
US equities shuffled to a mixed close on Monday, with interest rate-sensitive momentum shares weighing on the Nasdaq. Investors prepared for a week of significant quarterly results and eagerly awaited economic data. Robert Pavlik, senior portfolio manager at Dakota Wealth in Fairfield, Connecticut, stated, “People are unsure about what this week holds, especially regarding earnings. Read More…
Currency futures diverged while the dollar rose on Friday after positive data confirmed rate hike expectations. S&P Global reported that the index of the US manufacturing and services sectors rose to 53.5 in April. It was the highest reading since last May, following a final reading of 52.3 in March. It conflicts with mounting evidence Read More…
On Thursday, gold prices surged above the crucial $2,000 barrier once more as the dollar and Treasury yields declined. Weak US economic data supported the argument for the Federal Reserve to stop raising interest rates. A different data set revealed fewer existing house sales and significantly lower-than-expected factory activity in the mid-Atlantic region. At the Read More…
Oil prices fell by almost 2% on Wednesday, hitting a two-week low on worries that Fed rate hikes in the United States, the world’s largest oil consumer, might reduce oil consumption. Europe’s persistently high inflation rate and China’s mixed economic indicators discouraged investors. China is the world’s largest consumer of crude oil. That was the Read More…
