Jury Selection Begins In Hunter Biden Gun Trial
Jury Selection Begins In Hunter Biden Gun Trial Of all the things Hunter Biden has been accused of, and recorded himself doing, he’ll be in a Delaware courthouse this week on three federal felony gun charges. Hunter Biden departs a U.S. Capitol office building in Washington on Feb. 28 after giving a congressional deposition. (Evelyn […]
Countries at Climate Risk Face Soaring Debt Payments, Report Reveals
Debt payments by the 50 countries most vulnerable to the climate crisis have doubled since the start of the COVID-19 pandemic, reaching their highest level in over 30 years. These nations now allocate 15.5% of government revenues to external creditors, up from less than 8% before the pandemic. Debt Justice, citing data from the World […]
Key Events This Week: Jobs, Jolts, ISM, And Fed Blackout Period Begins
Key Events This Week: Jobs, Jolts, ISM, And Fed Blackout Period Begins It’s another payrolls week with consensus (+190k) expecting job gains to pick up from last month’s +175k number with unemployment widely expected to stay at 3.9%. As DB’s Jim Reid writres this morning, the bank’s economists think the risks are biased to it […]
Caixin PMI Shows Surge in China Manufacturing, Despite Global Challenges
China’s manufacturing activity surged in May, growing at the fastest rate in nearly two years, driven by production increases and new orders, particularly among smaller firms, according to the Caixin/S&P Global PMI, which rose to 51.7. Despite this positive outlook for the second quarter, global risks persist. China’s efforts to boost infrastructure and high-tech manufacturing […]
Gold Inches Higher with Eyes on Major U.S. Economic Reports
Gold prices inched up on Monday as investors anticipated key U.S. economic reports this week for insights into the economy’s health, following an inflation report that hinted at possible Fed rate cuts in 2024. Spot gold rose 0.3% to $2,332.91 per ounce, and U.S. gold futures increased by 0.3% to $2,353.40. The market is focused […]
OPEC+ Meeting Shows Persistent Demand Weakness
OPEC+ Meeting Shows Persistent Demand Weakness Authored by Daniel Lacalle, The latest OPEC meeting conclusions show that the global economy is not as strong as headlines suggest and that industries all over the world are struggling to recover. Indeed, many manufacturing PMIs (purchasing managers’ indexes) continue to signal contraction. Oil prices have weakened in recent […]
Rate Cut Speculation Dampens Gold Prices; Copper Struggles
Gold prices dipped on Monday amid increased rate cut expectations that drove investors towards riskier assets, despite a weaker dollar. Concurrently, copper prices also fell due to mixed economic data from China and cooling speculative activity. Reduced safe haven demand for gold followed reports of a potential ceasefire between Israel and Hamas. Spot gold dropped […]
Turkey's Inflation Climbs to 75.5%, Policymakers Hope for Relief
Turkey’s inflation surged to 75.5% in May, exceeding forecasts and marking what officials hope is the peak of a prolonged cost-of-living crisis. Monthly inflation also accelerated to 3.4%. Despite the sharp rise, Turkish policymakers, following more conventional economic strategies since President Erdogan’s reelection, expect inflation to drop to 38% by year-end. Finance Minister Mehmet Simsek […]
Futures Rise To Start June As Nvidia Jumps, Gamestop Soars
Futures Rise To Start June As Nvidia Jumps, Gamestop Soars After closing the month of May on the front-foot when a last minute rebalancing spike in the S&P reversed two days of losses, US stock futures are ticking higher to start the month of June following the lead of broad gains across European equity markets […]
Zantac-Rout Returns, Sends GSK Shares Tumbling After Delaware Judge’s Ruling On Jury Trials
Zantac-Rout Returns, Sends GSK Shares Tumbling After Delaware Judge’s Ruling On Jury Trials GSK shares in London tumbled the most in nearly two years after a Delaware judge allowed jury trials to proceed in cases concerning the discontinued heartburn drug Zantac, which is allegedly linked to cancer. On Friday, Judge Vivian Medinilla of the Delaware Superior Court in Wilmington agreed that […]