Author: Financial Reporter
-
Fed Officials Stress Need for Further Interest Rate Hikes to Combat Inflation
The Federal Reserve has been gradually raising interest rates since March of last year in order to combat rising inflation. Last week, the Fed raised its benchmark interest rate by 25 basis points to a range of 4.5%-4.75%. The central bank’s projections from December indicate they favor raising rates slightly above 5% this year.[0] New…
-
European Stock Markets Rise Amid Optimism and Awaiting US Inflation Data
European stock markets rose on Monday amid optimism around resilient economic growth, while investors awaited US inflation data for clues on the Federal Reserve’s policy outlook. The DAX index in Germany traded 0.3% higher, the CAC 40 in France climbed 0.3%, and the FTSE 100 in the U.K. rose 0.4%. At 2 AM Eastern Time…
-
US CPI Rises 0.5% in January, With 10-Year Yield Jumping 13 Basis Points on Jobs Report
An Overview of The consumer price index (CPI) in the US rose 0.5% month-over-month in January, the most in three months, coming in-line with the market expectations.[0] The annual inflation rate in the US eased to 6.4% in January from 6.5% in December, while core prices, excluding the volatile food and energy sectors, showed a…
-
BP and Deep Wind Offshore Form Joint Venture to Develop Offshore Wind in South Korea
UK oil supermajor BP has entered the South Korean offshore wind market after buying a majority stake in the early-stage projects of developer Deep Wind Offshore.[0] BP and Deep Wind Offshore have formed a joint venture to develop offshore wind opportunities in South Korea, with BP acquiring a 55% stake in Deep Wind Offshore’s early-stage…
-
Dollar Bulls Rejoice: U.S. Dollar On The Rise This Week
The U.S. dollar is on the rise this week, boosted by rising US Treasury bond yields and speculation that the Federal Reserve will continue to hike interest rates. The USD/JPY rate had risen to its greatest value in almost five weeks as of the latest update, hovering slightly higher than 133.00.[0] Kishida, Japan’s Prime Minister,…
-
Global Markets Rebound As Investors Weigh Inflation & Company Earnings
Investors weighed the latest inflation data from the US and the UK, while digesting results from major companies, sending European stocks steadying and Wall Street equity futures pared their losses.[0] Data from the American Petroleum Institute showed a crude oil stockpile of 10.51 million barrels in the US for the week ended February 10 and…
-
Crypto Market Bull Cycle Picking Up Steam Despite Market Apathy
Bitcoin, the flagship cryptocurrency, is entering its seventh bull cycle, according to Dan Morehead, the CEO of Pantera Capital, a $4.1 billion cryptocurrency hedge fund.[0] Morehead, a former Goldman Sachs bond trader, has been through 10 bitcoin cycles and has traded through 35 years of similar cycles, so his opinion carries considerable weight. The crypto…
-
Asian Markets Up After Powell’s Less Hawkish Tone, But Traders Remain Cautious
Asian stock markets closed mostly higher on Tuesday following the broadly positive cues from global markets overnight, as traders picked up stocks at reduced levels after last week’s weakness. In Hong Kong, the Hang Seng index fell 1.23%, and the Hang Seng Tech index fell 1%. The Shenzhen Component in mainland China fell fractionally and…
-
5 Best Value Stocks to Buy in January 2023
Are you looking for cheap stocks to buy before the market soars? If so, our market-beating analyst team recently revealed what they believe are the 5 best stocks for investors to buy in January 2023.[0] Bank of Nova Scotia, Equitable Group, Alimentation Couche-Tard, United Airlines (NASDAQ: UAL), Vertex Pharmaceuticals (NASDAQ: VRTX), Walmart (NYSE: WMT), Mastercard…
-
Oil Prices Drop as US Announces SPR Sale, IEA Reports $4 Trillion Profits
On Tuesday, prices of oil decreased following the US’s declaration to release more supply from its Strategic Petroleum Reserve, intensifying the already-unstable trends in supply and demand in the international market.[0] Last year, the Biden administration sold a massive 180 million barrels from the SPR after Russia’s invasion of Ukraine disrupted supply and pushed crude…