Inflation
Booking Holdings CEO says higher prices haven’t dented summer travel demand yet
A sharp uptick in inflation has so far not caused a slowdown in demand for travel in the spring and summer months, Booking Holdings CEO Glenn Fogel told CNBC on Thursday. “Not yet. Not yet,” said Fogel, whose company offers online travel services, including flight booking. He cited the Covid pandemic’s disruptions to travel routines. “When you […]
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U.S. to release 1 million barrels of oil per day from reserves to help cut gas prices
U.S. President Joe Biden announces new actions against Russia for its war in Ukraine, during remarks in the Roosevelt Room at the White House in Washington, U.S., March 8, 2022. Kevin Lemarque | Reuters The U.S. will release 1 million barrels of oil per day from its strategic reserves to help cut gas prices and […]
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The Fed’s preferred inflation gauge rose 5.4% in March, the highest since 1983
The Federal Reserve’s favorite inflation measure showed intensifying price pressures in February, rising to its highest annual level since 1983, the Commerce Department reported Thursday. Excluding food and energy prices, the personal consumption expenditures price index increased 5.4% from the same period in 2021, the biggest jump going back to April 1983. Including gas and […]
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Everyone is worried about gas prices, but diesel is driving inflation more than you think
The prices for gas and diesel fuel, over $6.00 a gallon, are displayed at a petrol station in Los Angeles, March 2, 2022. Frederic J. Brown | AFP | Getty Images Even before Russia invaded Ukraine, the fuel that runs the global economy was in short supply. Now some analysts say there could be spot […]
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Anthony Scaramucci says he’s ‘not quite convinced’ on the recession signal the bond market flashed
Traders work on the floor of the New York Stock Exchange on March 28, 2022, in New York City. Following a positive week for stocks, the Dow Industrial Average was down over 100 points in morning trading. Spencer Platt | Getty Images A key signal of recession flashed in the bond market this week, but […]
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Fed’s Patrick Harker says he thinks the U.S. can avoid a recession, even amid troubling signs
Despite on ominous indicator hanging over the economy and higher interest rates on the way, Philadelphia Federal Reserve President Patrick Harker said Tuesday that he doesn’t think the U.S. is heading for recession. That view, expressed in a CNBC interview, comes in the face of a looming inversion of the 10- and 2-year Treasury yields […]
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Hong Kong trading and IPOs hurt by geopolitics, says bourse CEO
Electronic screens display gongs at the Exchange Square Complex, which houses the Hong Kong Stock Exchange, in Hong Kong, China, on Tuesday, March 15, 2022. A “fragile” geopolitical environment has slowed trading volumes and initial public offerings on the Hong Kong stock exchange and created challenges for its commodities business, especially nickel, the bourse’s CEO […]
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Recession fears tied to Treasury yields are overblown, Canaccord’s Tony Dwyer suggests
Wall Street may be overestimating recession risks. While investors focus on an unnerving inversion between the five-year and 30-year Treasury Note yields, Canaccord Genuity’s Tony Dwyer is concentrating on optimistic activity in another part of the bond market. According to Dwyer, the three-month versus five-year yield shows a healthier picture of the U.S. economy because […]
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The bond market is flashing a warning sign a recession may be coming. Here’s why
A Trader on the floor of the NYSE David Dee Delgado | Getty Images The bond market is flashing a warning sign for the U.S. economy. That harbinger is called an “inverted yield curve.” These inversions in the bond market have been reliable predictors of past recessions. Part of the yield curve inverted on Monday. […]
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Soaring prices are hitting young Brits. The new U.K. budget won’t hurt much
David-Prado | iStock | Getty Images The U.K. government’s latest budget announcement offered little hope for young people who are among those struggling to cope with soaring living costs, financial analysts and advisors have said. In his Spring Statement, U.K. Finance Minister Rishi Sunak acknowledged that the Russia-Ukraine war was putting more pressure on the […]
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