WTI Extends Losses After Crude Draw, Production Holds Near Record Highs
WTI Extends Losses After Crude Draw, Production Holds Near Record Highs Crude prices have given back the brief gains overnight (following API’s report of a big crude draw) as US GDP slowed and weighed on demand expectations (offsetting nervousness from another attack on a ship in the Red Sea, and Israeli comments that it probably wouldn’t be able to […]
Moderna Shares Rise On Report US Gov’t Preparing Funding For mRNA Bird Flu Vax
Moderna Shares Rise On Report US Gov’t Preparing Funding For mRNA Bird Flu Vax Shares of Moderna are up more than 4% in the New York premarket trading session following a report by the Financial Times that the US government is preparing to “bankroll a late-stage trial of Moderna’s mRNA pandemic bird flu vaccine.” H5N1 is spreading across […]
Beware Of A Market Trading At All-Time Highs
Beware Of A Market Trading At All-Time Highs Authored by Jan-Patrick Barnert via Bloomberg, The tricky thing about markets at all-time highs is that they can easily flip. And what currently looks like a bit of a sideways consolidation has all the ingredients to make things messy in the next few weeks. Take the seemingly […]
US Pending Home Sales Plunged To Record Lows In April As Rates Rose
US Pending Home Sales Plunged To Record Lows In April As Rates Rose After an unexpected jump in March, pending home sales were expected to drop 1.0% MoM in April as mortgage rates pushed back above 7.00% and stayed there. Well, the analysts had the direction right but magnitude was way off as pending home […]
Judge Denies Hunter Biden’s “Frivolous” Bid To Halt Delaware Gun Case
Judge Denies Hunter Biden’s “Frivolous” Bid To Halt Delaware Gun Case Authored by Caden Pearson via The Epoch Times, A federal judge on Wednesday denied Hunter Biden’s bid to halt the prosecution of his Delaware gun case, deeming it unconvincing and “frivolous.” U.S. District Judge Maryellen Noreika issued the ruling on Wednesday, rejecting Mr. Biden’s […]
Trump And Musk Discussing Advisory Role In Next Administration: Report
Trump And Musk Discussing Advisory Role In Next Administration: Report In a notable shift from past acrimony, Donald Trump, the presumptive Republican nominee, has engaged in discussions with Elon Musk about a possible advisory role for the Tesla mogul should Trump retake the White House, the Wall Street Journal reports. The move could see Musk […]
Inflation Woes from Pandemic Keep Fed's Rate Cuts on Hold
Lingering inflation pressures from the pandemic are prompting the Federal Reserve to maintain high interest rates, dampening hopes for cuts this year. Despite expectations that inflation will eventually cool, Fed officials are prepared to keep borrowing costs elevated to curb rising prices, balancing the risk of economic downturn against the need to control inflation.
Fed Survey Reveals Growing Pessimism Among US Companies
U.S. firms have become more pessimistic about the economic outlook despite continued expansion from early April to mid-May, according to a Federal Reserve survey. Weakened consumer demand and modestly increasing inflation are key concerns, as the job market gradually cools. The Fed’s Beige Book survey highlights varying conditions across industries and regions, influencing central bankers’ […]
Four Tech Titans Propel Stock Market to New Highs on AI Hopes
The record stock market gains are heavily reliant on a few large tech stocks, primarily driven by excitement around AI. Nvidia, Microsoft, Apple, and Alphabet alone added over $1.4 trillion in value this month, more than all other S&P 500 stocks combined. Nvidia, boosted by AI demand, accounted for half of this gain. While AI […]
The $150,000 Housekeeper: Wage Inflation Kicks Into Second Gear
The $150,000 Housekeeper: Wage Inflation Kicks Into Second Gear Authored by Charles Hugh Smith via OfTwoMinds blog, If we add up all these tidal forces, the conclusion is self-evident: labor “inflation” has just shifted into second gear. One of the lesser known manifestations of the inflationary crisis in early-1920s Germany was rampant wage inflation. Bourgeois burghers […]