(Bloomberg) — US public pension funds are on pace for their deepest financial setback since the Great Recession as turmoil in global markets this year threaten to leave taxpayers and government workers on the hook. Steep stock and bond losses are set to leave state and local pensions this year with enough to coveronly …
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https://youtu.be/-7yarE5BMws There’s a head-spinning amount of news for markets to navigate in the week ahead, the biggest of which will be the Federal Reserve’s midweek meeting. The two largest U.S. companies — Microsoft and Apple — report Tuesday and Thursday, respectively. Google parent Alphabet releases results Tuesday, and Amazon reports Thursday. Meta Platforms, formerly Facebook, …
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Global oil demand is more likely to surprise to the upside even in a very weak economy, popular hedge fund manager Pierre Andurand said in a Twitter thread on Friday. Due to COVID-related lockdowns, demand has been way below trend over the last few years, the hedge fund manager said. Average annual oil demand …
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Leading economic index declines 0.8% in June, fourth straight monthly drop Conference Board said: “Amid high inflation and rapidly tightening monetary policy, The Conference Board expects economic growth will continue to cool throughout 2022. A U.S. recession around the end of this year and early next is now likely, said Ataman Ozyildirim, senior director of …
Major United States indexes closed lower on Friday with tech stocks falling sharply after disappointing earnings from Snap and Twitter. The Dow Jones declined 0.43%. The worst performer was Verizon, whose shares plummeted 6.75% after the company posted worse-than-expected second-quarter results. The Nasdaq 100 slumped 1.77% with Lucid Group plunging 8.38% and Meta tumbling 7.59%. …
PARIS, June 26 (Reuters) – The French government could restart a coal-fired power plant in the Lorraine region in north eastern France this winter, France’s energy ministry said in a written statement Sunday, confirming a report from broadcaster RTL. “As a precautionary measure, given the situation in Ukraine, we are reserving the option to reactivate …
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Philadelphia-area manufacturers’ outlook for business conditions slumped this month to the lowest level since 1979 as gauges of future new orders and planned capital expenditures both deteriorated. Federal Reserve Bank of Philadelphia data on Thursday showed a measure of business conditions six months from now slid nearly 12 points to minus 18.6. The index of …
European Central Bank (ECB) President Christine Lagarde stated on Thursday that inflation is expected to “remain undesirably high for some time” as global energy prices stay high in the near term. She warned that price pressures are spreading across more sectors in part because of energy price pressures. However, she noted that “in absence of …
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The European Central Bank (ECB) decided on Thursday to raise key interest rates by 50 basis points, marking the first rate hike since 2011. The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will be increased to 0.50%, 0.75% and 0.00% respectively, with …
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https://youtu.be/oHCWZPTFylo Gazprom will deliver approximately 36 million cubic meters of gas today as opposed to yesterday’s 21 million cubic meters, Italian multinational oil and gas company Eni announced on Thursday morning. Earlier in the day, the German Federal Network Agency noted that the Russian oil and gas giant intends to get back to the same …