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Oil headed for the biggest weekly gain since early March as OPEC+ put the market on course for further tightening ahead of winter.
As Biden Welcomes Venezuela Oil, He Prepares To Block All US Offshore DrillingOct 7, 2022 - 07:23:18 PDT
"So basically Biden is saying that domestic producers are more evil than Venezuela's Nicholas Maduro."
The U.S. Is Preparing Its Response To The “Short-Sighted” Strategy Of OPEC+Oct 7, 2022 - 07:20:21 PDT
The United States is considering “response options” in its relations with OPEC+ members and its de facto leader Saudi Arabia after the group announced a large 2 million bpd nominal cut in its collective oil production target earlier this week, U.S. Secretary of State Antony Blinken said.
The OPEC+ decision to cut its production quota by 2 million bpd has placed the Biden Administration between a rock and a hard place, with oil prices climbing ahead of the mid-terms and very few viable options to counter it.
Oct 7, 2022 - 07:13:09 PDT
The bad news? While nominal average hourly earnings grew by 5% YoY, when I subtract Bidenflation from that number I get -3.06% growth. Or should I say that REAL wages are shrinking under Biden.
The strong dollar remains a risk to corporate profits and asset prices as the impact on the global economies grows.
The United Nations food agency's world price index fell for a sixth month in a row in September, receding from all-time highs posted earlier this year after Russia invaded Ukraine. The Food and Agriculture Organization (FAO) said on Friday that its price index, which tracks the most globally traded food commodities, averaged 136.3 points last month versus a revised 137.9 for August...
The Bank of England helped fuel a fresh selloff in U.K. debt markets when it stopped buying long-dated bonds over the past two days.
U.S. stock index futures fell sharply on Friday, as data showed bigger-than-expected job additions last month and a drop in the unemployment rate, giving more room for the Federal Reserve to stick to aggressive interest-rate hikes.
Job Growth Slowed in September As Payrolls Rose Just 263,000 Amid Fed Rate HikesOct 7, 2022 - 05:37:51 PDT
Job growth fell short of expectations in September as efforts by the Federal Reserve to slow inflation took their toll on hiring, the Labor Department reported Friday. Nonfarm payrolls increased 263,000 for the month, compared to the Dow Jones estimate of 275,000. The unemployment rate was 3.5% vs the forecast of 3.7%.
Biden Warns 'Nuclear Armageddon' Threat Back 'For First Time Since Cuban Missile Crisis'Oct 7, 2022 - 05:36:17 PDT
President Joe Biden said on Thursday that the threat of nuclear "Armageddon" is at its highest level since the Cuban missile crisis, and that the US is trying to find an "off-ramp" for Russia before they begin the use of tactical nuclear weapons.
U.S. Treasury's Yellen calls for World Bank revamp to tackle global challengesOct 7, 2022 - 05:34:25 PDT
U.S. Treasury Secretary Janet Yellen on Thursday urged the World Bank Group and other multilateral development banks to revamp their business models and dramatically boost lending to address pressing global needs such as climate change. In a speech ahead of next week's World Bank and International Monetary Fund annual meetings...
The yen is once more weakening toward levels that triggered direct market intervention last month, as traders test authorities’ tolerance for a depreciating currency.
Bond Markets Facing Historic Losses Grow Anxious of Fed That ‘Isn’t Blinking Yet’: MWOct 7, 2022 - 05:31:24 PDT
A selloff for the ages in the bond market has yields flirting with crisis levels. Bond investors aren't all convinced that's enough for what comes next.
Credit Suisse Group AG offered to buy back up to $3 billion of its own debt, in a move aimed at calming investor jitters ahead of the unveiling of a crucial strategy revamp. Most Read from BloombergBiden Says Putin Threats Real, Could Spark Nuclear ‘Armageddon’Kremlin Lets State Media Tell Some Truths About Putin’s Stalling WarMusk's Twitter Takeover Hits Snag Over Debt-...
The biggest U.S. banks are expected to report weaker third-quarter profits as the economy slowed and volatile markets put the brakes on dealmaking. Four of the nation's largest lenders -- JPMorgan Chase & Co, Wells Fargo, Citigroup Inc and Morgan Stanley -- will report third-quarter earnings Friday, Oct. 14. The results are expected to show a slide in net income after turbulent...
Gold headed for the largest weekly gain since March, ahead of key US jobs data that will shape expectations about how much more tightening is yet to come from the Federal Reserve.
Investors poured the most money into cash since April 2020 on fears of a looming recession, but stocks could see further declines as they don’t fully reflect that risk, say Bank of America Corp. strategists.
Just days after Russia's Ministry of Finance announced plans to let any industry in the country to accept bitcoin and cryptocurrencies for international trade without restriction, the EU has imposed a sweeping ban on providing crypto services to Russians as part of its eighth round of sanctions.
A blockchain linked to Binance, the world's largest crypto exchange, has been hit by a $570 million hack, a Binance spokesperson said on Friday, the latest in a series of hacks to hit the crypto sector this year. Binance CEO Changpeng Zhao said in a tweet that tokens were stolen from a blockchain "bridge" used in the BNB Chain, which was known as...