At 1 p.m. on Thursday in New York, the $20 billion 30-year Treasury auction began at the highest rate since 2007. The S&P 500 Index fell as much as 1.2% in a matter of minutes before stabilising. Wall Street’s fear gauge, the Cboe Volatility Index, usually referred to as the VIX or the VIX, surged … Read more
The American stock market had significant gains in 2023, but billionaire hedge fund manager Paul Tudor Jones predicts that things won’t always be sunny and rainbows. He recently told CNBC, “It’s a really challenging time to want to be an equity investor in U.S. stocks right now.” This is “the most threatening and challenging geopolitical … Read more
The new non-grain oriented electrical steel line from U.S. Steel is formally inaugurated with a ribbon-cutting ceremony. The individuals pictured are, from left to right: Jim Bell, U.S. Steel Vice President – Construction; Arkansas State Representative Jon Milligan; Robert Costello, Cold Rolling Manager, Big River Steel Works; Mississippi County Judge John Alan Nelson; Mayor Joe … Read more
The cost of West Texas Intermediate loading for Asian customers in November has decreased by roughly $2 per barrel since September, when the situation peaked, according to unnamed sources with knowledge of the matter. The Israel-Hamas conflict prompted Saudi Arabia to reiterate its support for OPEC+ measures to maintain price stability, which markets saw as … Read more
According to a Cox Automotive study released on Thursday, sales of electric vehicles (EVs) in the US increased to over 300,000 for the first time in the third quarter, while market leader Tesla’s share fell to an all-time low. Despite launching a price battle to strengthen its position in the cutthroat EV market, Elon Musk’s … Read more
With the goal of providing immigrants worldwide with access to financial services, a cross-border neobank is pleased to announce that Community Investment Management (CIM) has granted it a warehouse debt facility of up to $100 million. This accomplishment represents a major advancement in Zolve’s goal of facilitating the smooth transfer of funds and people between … Read more
Saudi Arabia has stood up for China in the face of criticism that its infrastructure spending has left low-income African and other countries crippled by debt, making them dependent on Beijing. At the joint conference of the World Bank and the International Monetary Fund on Thursday in Marrakesh, Morocco, Finance Minister Mohammed al-Jadaan stated, “Maybe … Read more
The dollar remained stable on Friday as expectations that the Federal Reserve would need to maintain higher interest rates longer were rekindled by stronger-than-expected U.S. consumer inflation. Simultaneously, investors processed Chinese producer and consumer price data indicating slightly higher than anticipated deflationary pressures. According to ING’s head of research Rob Carnell, “what we’ve got is … Read more
September was the fourth consecutive month that the yellow metal’s brilliance was diminished. September saw a 3.7% decrease in gold prices from August, according to a World Gold Council study. As of September 2023, there has been a 5% decrease in the year-to-date holdings in Gold ETFs and a 2% decrease in the asset under … Read more
Group of Seven finance ministers endorsed a plan that would use earnings from Russian assets that Western countries have blocked to help pay Ukraine’s rehabilitation, and they committed on Thursday to keep supporting the country economically. Following a protracted discussion over whether to include wording denouncing the Israel-Gaza conflict, finance officials jointly issued a statement, … Read more
