Ray Dalio has hit out at political extremes in the U.S. that don’t respect a rules-based system, and warned that Russia is likely to be the “lesser loser” from the Ukraine war as the economic cost to the West causes NATO support to fracture. The founder of Bridgewater Associates, the world’s largest hedge fund with …
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Markets on Wall Street saw a turbulent session on Tuesday, with the Dow Jones shrinking losses and the Nasdaq 100 and the S&P 500 turning positive near the end of the trading day. Investors were also preparing for the release of the highlights of the last meeting of the Federal Open Market Committee, which is …
Continue reading “Dow Jones pares loses as Nasdaq soars over 1.6%”
Oil futures prices continued to tumble, with West Texas Intermediate (WTI) falling below $100 per barrel for the first time since May 11. Fears of a recession appear to indicate that demand for fossil fuels may be reduced further, while the European Union urged an agreement on the Joint Comprehensive Plan of Action (JCPOA) is …
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The United States is calling on Saudi Arabia to increase oil production. Saudi Arabia has maintained its OPEC+ output agreement, refusing to ramp up production. The Kingdom is still maintaining close ties with Russia despite its continued aggression in Ukraine. The world’s largest crude oil exporter, Saudi Arabia, continues to keep close ties with Russia …
Continue reading “Saudis Unwilling To Upset Putin As Biden Begs For More Crude”
Now is not the right time for the resumption of peace negotiations between Russia and Ukraine, United States National Security Council’s Strategic Communications Coordinator John Kirby (pictured) told Fox News on Sunday. The US will “continue to make sure” that Ukrainian President Volodymyr Zelensky “can succeed on the battlefield so that he can succeed at …
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Wall Street ended the final trading session of the week with gains after spending a part of the day below the flatline, possibly due to data reports demonstrating a significant slowdown in manufacturing activity and a decline in construction spending. In business news, Novavax said it expects to have the Omicron-targeting coronavirus vaccine in the …
Continue reading “US closes volatile session higher, Dow up 300 pts”
The Biden administration released a five-year plan on Friday that would block all new offshore oil drilling in the Atlantic and Pacific oceans, while allowing some drilling in the Gulf of Mexico and the south coast of Alaska. The proposed plan, which has not been finalized, could allow up to 11 lease sales over the …
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After attracting crypto firms, property investors and Russian billionaires, Dubai is drawing a new crowd: hedge fund managers. Englander’s Millennium Management has grown its staff in the Dubai International Financial Centre to about 30 since securing a license in 2020. Michael Gelband’s ExodusPoint Capital Management, one of the largest multi-strategy hedge funds in the world, registered …
Wall Street ended the final trading session of the week with gains after spending a part of the day below the flatline, possibly due to data reports demonstrating a significant slowdown in manufacturing activity and a decline in construction spending. In business news, Novavax said it expects to have the Omicron-targeting coronavirus vaccine in the …
Continue reading “US closes volatile session higher, Dow up 300 pts”
United States Treasury yields fell on Thursday after the country’s Bureau of Economic Analysis revealed that the core personal consumption expenditures price index rose 4.7% in May, which was less than the analysts’ expected. The figure affects the Federal Reserve’s decisions on monetary policy, as the bank considers it as its main inflation indicator. After …