Author: Press Room

By Yasin Ebrahim Investing.com — The dollar rose Monday, underpinned by rising Treasury yields as bets on another Federal Reserve rate hike jumped following recent data showing ongoing strength in the labor market and further easing of stresses in the banking system. The , which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.52% to 102.26. About 72% of traders expect the Fed to hike rates on May. 3, up from about 55% last week, Investing.com’s showed, after the U.S. economy created 236,000 in March and unexpectedly fell to 3.5%.   “On the whole, the…

By Davide Barbuscia NEW YORK (Reuters) – The Federal Reserve may not need to raise interest rates further to fight inflation, as the fallout from last month’s turmoil in the banking sector and a series of recent labor data point to a slowing U.S. economy, a BlackRock (NYSE:) executive said on Monday. Though Friday’s closely-followed Labor Department employment report showed that U.S. employers maintained a strong pace of hiring last month, it was also marked by slowing wage gains and jobs growth that was below the three, six and 12 month moving averages, said Rick Rieder, chief investment officer of…

The number of initial public offerings (IPO) worldwide slumped in the first three months of 2023, according to research firm EY Club. Activity was especially weak in the UK, it said, while Asia Pacific dominated the global IPO landscape. There were just 299 IPO deals in total between January and March, EY Club data showed, down 8% year on year. And total proceeds dropped 61% from the corresponding 2022 period, to $21.5 billion. There was a notable decline in the valuations of technology companies, firms which have dominated IPO activity in recent years. High inflation, turbulence in banking and cryptocurrency…

With yields north of 7%, closed-end funds (CEFs) should be a staple of every American’s portfolio. Especially when you consider that the vast majority of these funds pay dividends every single month. But the truth is, CEFs remain a niche product—only folks have taken the time to try them out realize what incredible income generators they are. (This is why I started my CEF Insider service: to bust the myths around CEFs and give members a selection of diversified funds they can use to build a retirement-changing income stream.) Why are CEFs still off most people’s radar? Mainly due to…

Over the last holiday season, I vacationed on a private island. Most people on the island, except for yours truly, were billionaires. Amid super-yachts and private jets, one stereotypical signifier of extravagant wealth was notably absent: designer logos. I was shocked that I did not see one luxury brand donned by any of the uber-rich people. While chatting up a fellow vacationer, the CEO of a high-end luxury brand, I asked if he was upset that his billionaire friends didn’t represent his brand. He said, “We don’t market to billionaires. They have nothing to prove and don’t buy our products.…

The International Monetary Fund on Tuesday cut its global growth outlook for the year, warning the world economy faces the increased risk of a “hard landing” due to continued fallout from a spate of bank failures, higher interest rates and stubborn inflation.  The Washington-based institution said in its latest World Economic Outlook that global gross domestic product will grow by just 2.8% this year – which represents a 0.1 percentage point decline from its previous forecast in January – before rising to 3% in 2024.”The major forces that affected the world in 2022…seem likely to continue into 2023,” the report…

Are you ready for some “Sunday Ticket” football — with or without a pay TV subscription?For the first time this season, the NFL’s package of out-of-market games will be offered as part of Google’s YouTube TV, an internet-TV bundle of channels, as well as to those who don’t want to subscribe to a bundle of any kind, albeit, at a premium.For those who already subscribe to YouTube TV, which costs $72.99 a month, the base “Sunday Ticket” package will cost an additional $349 for the season. The streamer is also offering a bundle with Redzone, the NFL’s linear cable TV…

The International Monetary Fund on Tuesday released its weakest global growth expectations for the medium term in more than 30 years.The D.C.-based institution said that five years from now, global growth is expected to be around 3% — the lowest medium-term forecast in an IMF World Economic Outlook since 1990.”The world economy is not currently expected to return over the medium term to the rates of growth that prevailed before the pandemic,” the Fund said in its latest World Economic Outlook.The weaker growth prospects stem from the progress economies like China and South Korea have made in increasing their living…

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. Persistent inflation remains the Federal Reserve’s No. 1 concern, even as the banking sector remains on edge after two big bank failures last month. This week’s Consumer Price Index, due to be announced Wednesday at 8:30 am ET, could determine whether the central bank raises rates again in May. That means it will also weigh on markets, especially now that Wall Street’s focus…

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