Economy
5 things to know before the stock market opens Monday
Here are the most important news, trends and analysis that investors need to start their trading day: 1. Stocks set to bounce after Wall Street’s losing week Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, June 3, 2022. Brendan McDermid | Reuters Wall Street was set to […]
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Russia thinks it has found a way around Washington’s dollar bond payment blockade
Russian Finance Minister Anton Siluanov (seen here with Russian President Vladimir Putin in 2019) reportedly told Russian newspaper Vedomosti that Moscow will continue to service external debts in rubles, but foreign Eurobond holders will need to open ruble and hard currency accounts with Russian banks in order to receive payments. Mikhail Svetlov | Getty Images […]
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Why the global soil shortage threatens food, medicine and the climate
Soil can be considered black gold, and we’re running out it. The United Nations declared soil finite and predicted catastrophic loss within 60 years. “There are places that have already lost all of their topsoil,” Jo Handelsman, author of “A World Without Soil,” and a professor at the University of Wisconsin-Madison, told CNBC. The impact […]
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Fed’s Mester says inflation hasn’t peaked and multiple half-point rate hikes are needed
Cleveland Federal Reserve President Loretta Mester said Friday that she doesn’t see ample evidence that inflation has peaked and thus is on board with supporting a series of aggressive interest rate increases. “I think the Fed has shown that we’re in the process of recalibrating our policy to get inflation back down to our 2% […]
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How the U.S. Space Force plans to police outer space
Outer space is getting crowded, with both commercial endeavors and secretive military projects. And it’s going to be up to the newest United States military branch, the Space Force, to protect American interests there. Space launches in the U.S. have been on the rise, and participation by private companies has increased over the last decade. […]
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Food price inflation rocks the Middle East’s economies, pushing up risk of social unrest
Local government officials and a Ukrainian soldier inspect a grain warehouse earlier shelled by Russian forces on May 06, 2022 near the frontlines of Kherson Oblast in Novovorontsovka, Ukraine. John Moore | Getty Images Rising prices of food and energy are reverberating through Middle Eastern and North African economies, a new S&P Global Ratings report […]
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Two notable Wall Street strategists say this is just a bear market bounce
Two widely followed strategists on Wall Street — Bank of America’s Michael Hartnett and Morgan Stanley’s Mike Wilson — see more trouble ahead in the stock market and are urging investors to not breathe a sigh of relief just because of the latest rally. “Is there a bull case? We find it difficult to construct […]
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Payrolls rose 390,000 in May, better than expected as companies keep hiring
The U.S. economy added 390,000 jobs in May, better than expected despite fears of an economic slowdown and with a roaring pace of inflation, the Bureau of Labor Statistics reported Friday. At the same time, the unemployment rate held at 3.6%, just above the lowest level since December 1969. Economists surveyed by Dow Jones had […]
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Stocks making the biggest moves premarket: Turning Point Therapeutics, Lululemon, RH and others
Check out the companies making headlines before the bell: Turning Point Therapeutics (TPTX) – The biopharmaceutical company’s shares more than doubled in premarket trading after agreeing to be acquired by Bristol Myers Squibb (BMY) for $76 per share in cash, or $4.1 billion. Turning Point specializes in cancer treatments. Lululemon (LULU) – Lululemon shares rose […]
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Turkey’s inflation soars to 73%, a 23-year high, as food and energy costs skyrocket
A man sells slippers in Eminonu on May 5, 2022, in Istanbul, Turkey. The country has enjoyed rapid growth for years, but President Erdogan has for years refused to meaningfully raise rates to cool the resulting inflation. The result has been a plummeting Turkish lira and far less spending power for the average Turk. Burak […]
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