Author: Press Room
The office of Vice President Kamala Harris said she’ll take a flight Friday afternoon to Nashville, Tenn., and meet there with state legislators. The trip comes after Tennessee Republicans on Thursday expelled two Democratic lawmakers from the state legislature over their role in a protest that called for more gun control in the aftermath of a deadly school shooting in Nashville. Harris, who initially had no public events on her schedule for Friday, denounced the GOP move in Tennessee in a tweet on Friday, saying it was “undemocratic and dangerous.” Read the full article here
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. Treasury yields and the dollar climbed in an abbreviated session on Friday after employment data for March indicated the labor market remained tight last month, raising the odds that the Federal Reserve has at least one more rate hike in store. Wall Street exchanges were closed until Monday due to the Good Friday holiday. European markets are closed on both Friday and Monday. Nonfarm payrolls increased by 236,000 jobs last month, the Labor Department said, very close to the 239,000 expectated by economists surveyed by Reuters. Data for February was revised higher…
Something curious happened during the early months of the COVID-19 pandemic: people across the country began hoarding toilet paper. From February to March of 2020, toilet paper sales jumped 700 percent. Crazy, right? Why would anyone need hundreds of rolls of toilet paper? And why hoard toilet paper rather than, say, more things useful to survival like cans of beans or jugs of water? Who knows what triggered the massive surge in toilet paper purchases, but once people started buying it in quantity, that led to a panic. Why? Because if you see lots of people buying lots of toilet…
By Peter Nurse Investing.com – The U.S. dollar languished near two-month lows in early European trade Monday as weak economic data support the idea that the U.S. Federal Reserve may be near the end of its rate-hiking cycle. At 02:55 ET (06:55 GMT), the , which tracks the greenback against a basket of six other currencies, edged just higher at 101.295, just above a fresh two-month low of 101.140 hit earlier in the session. The dollar started last month on a firm footing on expectations sticky inflation would prompt the to take interest rates higher than previously thought. However, the…
By Peter Nurse Investing.com — Oil prices edged lower Thursday, but are still heading for a third consecutive positive week with sentiment buoyed by the surprise decision of OPEC+ to cut its production levels and a hefty drop in U.S. crude stocks. By 09:20 ET (13:20 GMT), futures traded 0.1% lower at $80.50 a barrel, while the contract fell 0.1% to $84.92 a barrel. Both benchmarks are on course to register gains of over 7% this week after the Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+, announced at the start of the…
5/5 © Reuters. Wayuu indigenous from nearby communities sit on a railway line used by coal producer Cerrejon before lifting a blockade, in Puerto Bolivar, Colombia April 7, 2023. REUTERS/Antonio Cascio 2/5 BOGOTA (Reuters) – Protesters in Colombia’s northern La Guajira province have lifted a four-day blockade of a rail line and the entrance to an export terminal used by coal miner Cerrejon, the company said on Friday. The blockade, which was affecting operations, was led by residents from three communities in Media Luna, the company had previously said. “It has been lifted,” a Cerrejon spokesperson told Reuters, adding normal…
OBSERVATIONS FROM THE FINTECH SNARK TANK April is Financial Literacy Month in the US, but it doesn’t matter what month it falls under because most efforts to improve “financial literacy” do little to improve the financial health of Americans. Financial Education Isn’t The Answer Conventional wisdom holds that Americans’ level of financial literacy is low and that therefore we need more financial education. There are problems with that “wisdom.” Problem #1: Financial education isn’t effective. Martha Menard found that, “One-size-fits-all financial education has little to no effect on changing real-world financial behaviors. A meta-analysis of more than 200 studies found…
Key News Asian equities were mixed on light pre-holiday volumes, as Hong Kong and India posted small gains, Japan and Korea were down more than 1%, and the Philippines and Thailand were closed. Yesterday US-China ADRs were off significantly intra-day due to the light holiday volumes this week, which tends to exacerbate volatility. McCarthy’s meeting with Taiwan’s President Tsai was likely a factor in yesterday’s trading. As I mentioned on Twitter (ahern_brendan) yesterday, what did CNH, China’s currency trading during US trading hours, and our risk monitor tell us about yesterday’s move? CNH was unchanged; we should have ignored the…
Many parents are looking for ways to give their kids a bright future. While money can’t necessarily buy happiness for our children, investing early and often for generational wealth can pave a more comfortable path forward. Kids have an advantage over adults when it comes to investing. They have a lot more time to achieve their goals. With decades or even a half-century to invest, compound interest can truly become the eighth wonder of the world for our children. Investing for generational wealth can allow our little ones to eventually: Avoid the burden of student debt. Buy a home with…
It started with Saudi Arabia. President Biden was met with cool, if not cold, greetings during his visit to Riyadh last July. Then the Saudis picked China to mediate their rapprochement with Iran. Nobody from Washington or Brussels was in the room to get the two old enemies shaking hands. Next up is the United Arab Emirates. Around the world and within the Gulf, it is best known for Dubai and Etihad Airlines. The country, like the Saudis, used to take its cues from the U.S. in many ways. Today, however, Abu Dhabi will act on the Emirates’ collective interests,…
