El Niño's Weather Woes Could Make Your Holiday Desserts Costly
A specialized agricultural and agribusiness bank predicts that customers will likely see a massive price increase for raw commodities affected by El Niño in 2023. Thus far this year, soft commodities have seen enormous gains.
Dec 25, 2023 9:38 PM EST
Dow Swings Wildly, Closing Sharply Lower in Sudden Turnaround
Stocks in the United States finished down on Wednesday after a sharp mid-afternoon drop stopped Wall Street's remarkable run, which had been fueled by lowering interest rates and the Federal Reserve's dovish tilt.
Goldman Sachs Struggles to Exit Apple Credit Card Partnership
Four years after launching a credit card with Apple, Goldman Sachs is facing an expensive exit from a collaboration that rival lenders perceive as too dangerous and unproductive.
Amazon Seeks Sports Content Boost with Potential Investment in Diamond Sports
The Wall Street Journal reported on Monday that Amazon is in discussions to invest in regional sports programming company Diamond Sports, a move that would enhance the e-commerce giant's ambitious drive into sports entertainment.
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US Production Squeezes Brent, Goldman Forecasts Lower Prices Down the Road
Goldman Sachs said that robust US production will limit any increase in oil prices, lowering its price projection for Brent crude by $10 per barrel to between $70 and $90 in 2024.
Dec 18, 2023 9:50 AM EST
10-Year Treasury Yield Slip Further After Fed’s ‘Big Shift’
Monday marked the start of the last full trading week of 2023, and the yield on the 10-year Treasury note continued to decline.
Dec 18, 2023 6:38 AM EST
US Inflation Fuels $100 Million Gold Rush at Costco, Bars Disappear in Hours
Profits from Costco's gold rush are substantial, as revealed during an earnings call on Thursday when the membership-based wholesale retailer sold an astounding $100 million worth of one-ounce gold bars in the previous quarter. Customers snatched up the gold, which sold out in hours despite ongoing inflation.
Dec 16, 2023 10:50 AM EST
SEC Blocks Crypto Rules, Coinbase Throws Down the Gauntlet
On Friday, Coinbase Global submitted a petition to the U.S. Securities and Exchange Commission requesting new regulations for the digital asset industry. The largest cryptocurrency exchange in the nation said that it will file a lawsuit against the decision.
Dec 16, 2023 10:10 AM EST
US Markets Rocket Forward, Dow Inches Closer to Uncharted Territory
US stock futures increased on Friday, as optimism over potential deeper and earlier interest rate reduction continued to drive the Dow toward a new high for the third consecutive day.
Dec 15, 2023 11:10 AM EST
Wall Street Cheers as Fed Takes Pause, But Eyes Bumpy Economic Landing Next Year
U.S. equities are poised to reach new highs as a result of the Federal Reserve's dovish stance, but some investors are concerned that the market may be moving too quickly given the uncertain outlook for the economy and corporate earnings.
Dec 14, 2023 7:23 AM EST
Fed Must Avoid Policy Errors of the 1970s, Warns Wall Street Veteran Milken
If past performance is any indication, renowned investor Michael Milken anticipates a cautious monetary policy stance from the Federal Reserve.
Dec 12, 2023 10:16 AM EST
China Stocks Reverse Course After Slump Fueled by Deflation Concerns
After being driven down early in the day by data indicating ongoing deflationary pressures stemming from poor domestic demand, China's equities reversed direction and rose on Monday.
Dec 11, 2023 5:48 AM EST
China's State Banks Eye Strategic Dollar-Yuan Swaps
China's biggest state-owned banks were observed on Tuesday exchanging dollars for yuan in the onshore swap market and then selling those dollars in the spot market to strengthen the yuan.
Dec 05, 2023 8:07 AM EST
US Inflation Expected to Ease Further, Recession Fears Diminish
According to a study issued on Monday, the majority of business economists believe that even if the employment market eventually weakens due to rising interest rates, the U.S. economy might escape a recession in 2024.
Dec 04, 2023 9:31 AM EST
Gold Surges Past $2,100, Signaling a New Era of High Prices
For the second day in a row, gold prices broke beyond $2,100 on Monday, as the world's appetite for metal looks certain to persist.
Dec 04, 2023 7:08 AM EST
Oil Markets Brace for Impact as OPEC+ Announces Production Cuts
The OPEC oil cartel, led by Saudi Arabia and allied producers like Russia, took another huge go at supporting lagging crude prices on Thursday, extending some supply restrictions into next year and pulling in up-and-coming oil provider Brazil.
Nov 30, 2023 10:59 PM EST
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