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The Composite PMI rose to 49.3 in September, up from 44.6 in August, solidly beating expectations of 465.1, and signaled a softer and only marginal decline in private sector business activity. The decrease was also the slowest in the current three-month sequence of contraction.
Sep 23, 2022 - 07:23:53 PDT
Goodnight Irene! Rampant inflation is really hurting American households (even Fed Chair Powell admitted as much yesterday), but because of inflation, The Fed’s counter-punch has resulted in …
Sep 23, 2022 - 07:22:32 PDT
Biden’s green energy policies (limiting supply) caused a tremendous surge in energy prices and food prices (one has to pay to get food shipped!). But in order for The Fed to cool inflation, they are in the process of tightening their loose monetary policy since late 2008.
The Great Central Bank Pivot is now underway around the globe, but it’s not the one Wall Street has been praying for. Instead of another round of easing juice to brake the obvious fall in economic activity, central banks en masse are racing to goose interest rates by 75 or even 100 basis points at a clip in order to quash the inflation surge. Just yesterday...
The best hedge out of an inflation-driven collapse of conventional investments is gold. The common belief that rising interest rates are bad for gold because it has no yield is disproved.
Elliott Wave International's Head of Global Research, Murray Gunn, explains how a decision by a clothing company whose product became a Wall Street icon might neatly bookend the bubble and presage debt-deflation.
As the Federal Reserve’s intensifying fight against inflation sinks every asset on Wall Street, investors are asking: Why buy now when things could get cheaper still?
The dollar’s march to record highs is sweeping aside other currencies, with the euro and pound hitting fresh multi-decade lows on Friday.The common currency slid 1% to its weakest since 2002, while the pound dropped as much as 2.1% to its lowest in 37 years, putting it on track for its worst week since early May. That came as a gauge of the greenback hit another all-time high...
Business surveys indicate that economic activity in Europe declined sharply in September, raising the risk of recession as governments grapple with surging prices and disruptions from Russia’s attack on Ukraine.
Federal Reserve officials and their counterparts around the world are trying to defeat inflation by rapidly raising interest rates. They know it will come at a cost.
Oil drops sharply Friday as recession fears grip financial markets, sinking global stock markets and contributing to a further rise by the U.S. dollar.
Energy Scams Are Spreading Like Wildfires across Europe and the United StatesSep 23, 2022 - 05:46:11 PDT
The global energy sector is in crisis. Supply chain woes and maintenance leftover from the pandemic, a fickle and bloodthirsty despot kinking the hose that supplies Europe with most of its natural gas, severe droughts causing issues with energy supply and transport ranging from China to Switzerland...
Another hurricane has devastated Puerto Rico, with over one million people still without power as of Thursday morning
As European countries race to prepare for what promises to be a difficult winter, the reality is that the energy crisis will last until at least next winter...
London banks are preparing their contingency electricity supply plans in case of a blackout this winter...
Jamie Dimon Says Stopping Oil and Gas Funding Would Be ‘Road to Hell for America’: MWSep 23, 2022 - 05:40:00 PDT
JPMorgan Chase CEO Jamie Dimon assured lawmakers of his commitment to helping finance traditional energy sources.
High margin requirements have sucked out the liquidity in futures markets and with fewer players around, volatility shoots up with negative consequences for buyers...
Sep 23, 2022 - 05:37:14 PDT
In August, California announced the end of fossil fuel-powered car sales by 2035, prompting green energy advocates to celebrate. However, flex alerts followed the announcement just days later, asking Golden State residents to avoid charging their electric vehicles during peak hours. Lack of compliance with the measure meant widespread blackouts due to the additional strain on the electrical grid.
Deutsche Bank's economists say the European energy crisis has "deteriorated" and there are now "elevated risks" that the Russia-Ukraine war will escalate further.
Goldman cuts year-end S&P 500 target to 3,600, sees it falling even further in 'hard landing'Sep 23, 2022 - 05:33:52 PDT
Goldman Sachs cut its year-end target for the S&P 500 to 3,600 from 4,300. It implies that the index will fall 4% through the end of the year.