According to recently released data from BofA, usage of the bank’s credit cards fell 0.3% in the week ending September 23 compared to the same time last year. In reality, spending on BofA cards has been declining for a few of weeks, and it drops much further if petrol and auto expenditures are excluded. In … Read more
Due to limited U.S. supply and forecasts of high fuel demand in China for the Golden Week vacation, oil prices increased slightly on Friday and were on track to rise 2% for the week. Prior to the contract’s expiration later in the day, front-month Brent November futures were up 42 cents, or 0.44%, to $95.80 … Read more
China has named a new finance minister to help the country navigate through the economic crisis, which is being fueled by the real estate market’s collapse. According to a statement issued by the finance ministry on Thursday (Sep. 28), financial expert Lan Foan will now lead the Communist Party group for the Ministry of Finance … Read more
A government shutdown in the US is imminent due to disagreements between Democrats and Republicans about significant cuts to public expenditure. The House of Representatives Republicans’ severe ideological disagreements were the cause of the political impasse. The US Congress must approve 12 appropriations bills before the end of the current fiscal year, October 1, in … Read more
The Dow Jones Industrial Average (DJI) dipped roughly 0.3% or 100 points, while the S&P 500 (GSPC) shed 0.2%. The Nasdaq Composite (IXIC), which is heavily weighted in technology, dipped by 0.09%. Markets have become cautious recently as they evaluate the effects of the Fed’s announcement that it will maintain high borrowing prices in order … Read more
As decreasing stockpiles at the main US storage hub echo through markets from Asia to the Middle East to Europe, oil buyers throughout the world are facing some of the highest premiums for supply they’ve seen in months — or longer. This year’s premium for flagship US crude cargoes offered in Asia is the highest. … Read more
The major Wall Street indexes rose on Thursday as investors evaluated the most recent economic data and kept an eye on an important inflation indicator as well as any indications of movement on a U.S. spending bill. Megacap growth stocks including Tesla, Alphabet, Nvidia, and Meta Platforms changed their early course to gain between 1.6% … Read more
