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 …
Continue reading “US: Now not the time for Russia-Ukraine talks”
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 …
Continue reading “Biden admin to allow oil and gas leases in Gulf of Mexico”
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 …
Indexes on Wall Street ended Wednesday’s session mixed after the US Bureau of Economic Analysis said that the American economy contracted by 1.6% in the first quarter of 2022. Investors also digested comments from Federal Reserve Chair Jerome Powell on inflation. The Dow Jones gained 0.26% with McDonald’s, up 2.02%, leading the games. The Nasdaq …
Continue reading “Wall Street ends mixed with GDP data in focus”
Tomorrow coulkd be a key day for the stock market. We get Initial Jobless Claims, PCE inflation, and Chicago PMI data. The short term tend of the markets could fall into sharper focus as a result. The Federal Reserve is known to look at the Michigan and Conference Board surveys for insights, but PCE inflation …
Continue reading “Wild ride tomorrow on PCE Inflation Report”
Just as COVID-19-related hospitalizations and deaths are starting to break out to new multi-month highs, the U.S. Food and Drug Administration recommended on Tuesday that the U.S. should pursue a booster strategy had better protects against newer more dominant strains, like omicron. The FDA indicated that a new generation of COVID-19 boosters could be ready …
Continue reading “Coronavirus tally: Daily Hospitalizations and deaths rise to multi-month highs”