Author: Press Room
By Barani Krishnan Investing.com — Oil and water do not mix, just like how common sense and bullish hype driven by OPEC don’t. But so long as the world’s cartel of oil producers says it, the market appears to believe it. That was the case on Thursday as crude prices gave back a little of their upward momentum after OPEC cautioned about demand for its oil — on the realization that a recession could hurt the market. In a report released on Thursday, OPEC flagged downside risks to summer oil demand as part of the backdrop to output cuts announced…
By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – Economic data has begun to fill in the portrait of a U.S. economy that is losing momentum, with reports over the last seven days showing job growth, inflation, factory output and consumer spending all slowing down. The combined impact hasn’t caused Federal Reserve officials to call a halt to further rate increases, with policymakers still seen likely next month to raise the benchmark overnight interest rate by a quarter of a percentage point to the 5.00%-5.25% range, which would be the highest since the onset of the global financial crisis in…
Many components of inflation have eased over the past year, while housing costs have continued to accelerate. However, there are good reasons to expect that to change over the coming months. Falling Inflation Inflation has been among the most closely watched economic variables over the past 2 years and has driven an aggressive increase in interest rates from the Federal Reserve. Recently, annual inflation has fallen from an peak of 9% during summer 2022 to 5% today. However, where inflation trends from here will likely be driven by housing costs. That’s because housing costs make up almost 60% of the…
Last week, the Biden administration proposed aggressive new tailpipe emissions standards that, if enforced, would leave carmakers with no other choice than to produce electric vehicles (EVs) almost exclusively by 2032. Under the proposal, among the toughest in the world, carbon dioxide emissions from new cars and light trucks would need to be reduced an ambitious 56% in less than 10 years. It’s believed that to meet this goal, two out of every three passenger vehicles manufactured in the U.S. would need to be electric models. That’s a tall order. Today, EVs represent around 8% of total auto sales in…
Recently, I had an opportunity to spend time on Necker Island in the British Virgin Islands with a group of people collaborating on ways to initiate change and have a greater impact on the world. A member of our group, New York Times NYT bestselling author Daniel Pink, who has written multiple books about business, work, creativity, and behavior, spoke on the topic of regret. Something he shared really got me thinking. While compiling research for his recent book, The Power of Regret: How Looking Backward Moves Us Forward, Daniel set up a website and invited people to participate in…
Goldman Sachs is scheduled to report first-quarter earnings before the opening bell Tuesday.Here’s what Wall Street expects:Earnings: $8.10 per share, 25% lower than a year earlier, according to Refinitiv.Revenue: $12.79 billion, 1.1% lower than a year earlier.Trading Revenue: Fixed Income $4.16 billion, Equities $2.9 billion, per StreetAccount.Investing Banking Revenue: $1.44 billionrelated investing newsHow did Goldman’s traders perform last quarter?The answer to that question will determine whether Goldman exceeds or misses expectations for the first three months of this year.Unlike its more diversified rivals, Goldman gets the majority of its revenue from Wall Street activities including trading and investment banking. With…
China’s first-quarter gross domestic product rose sharply while global peers face slowing growth as central banks hike rates to tame inflation.GDP grew by 4.5% in the first quarter, China’s National Bureau of Statistics said Tuesday. That marks the highest growth since the first quarter of last year — when China’s economy grew by 4.8% — and better than the 4% forecast in a Reuters poll. Quarter-on-quarter, the economy grew 2.2%.China’s growth has been under the spotlight as it reopens after ending most of its strict Covid restrictions that were in place for nearly three years. The economy expanded 2.9% in…
YouTube on Tuesday announced a series of changes to how it deals with content related to eating disorders. The platform has long removed content that glorifies or promotes eating disorders, and YouTube’s Community Guidelines will now also prohibit content that features behaviors such as purging after eating or extreme calorie counting that at-risk users could be inspired to imitate. For videos that feature such “imitable behaviors” in the context of recovery, YouTube will allow the content to remain on the site but restrict it to users who are logged into the site and are over the age of 18. The…
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The CEO of a prominent digital asset firm recently expressed unprecedented optimism regarding Bitcoin’s future, stating that he is “more bullish now than I’ve ever been.” This statement raises the question: could Bitcoin potentially reach $100,000 within the year? In this update, we’ll explore the factors that may contribute to such a price surge and discuss the implications for the cryptocurrency market as a whole.Scaramucci Remains Bullish on Bitcoin Despite ChallengesDespite facing criticism and challenges related to his interest in the crypto market, SkyBridge CEO Anthony Scaramucci remains enthusiastic about Bitcoin. In a recent interview, he emphasized that he’s not a…
