US oil price lowest in nearly a year, gas down 6% in a month

US oil price lowest in nearly a year, gas down 6% in a month

London CNN Business — US oil prices have fallen to their lowest level since December 2021 on concerns that protests in China against Covid-19 lockdowns will dent demand. West Texas Intermediate crude oil futures, the US benchmark, slid 2.7% on Monday to trade close to $74 a barrel, a level last reached in December 2021. … Read more

China markets tank as protests erupt over Covid lockdowns

China markets tank as protests erupt over Covid lockdowns

hong kong CNN Business — China’s major stock indices and its currency have opened sharply lower Monday, as widespread protests against the country’s stringent Covid-19 restrictions over the weekend roiled investor sentiment. Hong Kong’s Hang Seng (HSI) Index fell as much as 4.2% in early trading. It has since pared some losses and last traded … Read more

Markets will shift to a ‘hope’ phase next year, and investors would be wise not to miss it, says Goldman Sachs

Markets will shift to a 'hope' phase next year, and investors would be wise not to miss it, says Goldman Sachs

Fresh China COVID-19 worries are threatening to nix any preholiday gains for Wall Street, with stock futures in the red and the dollar higher ahead of Monday’s open. In a shortened week that will bring both Thanksgiving and the World Cup kickoff, investors have all sorts of excuses to head to the sidelines. Those sticking … Read more

Markets are getting a wake-up call in 2023, says Morgan Stanley, which offers a plan for investors to get ready.

Markets are getting a wake-up call in 2023, says Morgan Stanley, which offers a plan for investors to get ready.

According to Fed Reserve Gov. Christopher Waller and several strategistslast week’s softer-than-expected October CPI that sent the S&P 500 to its best level in five months was overdone. His words may be getting through as stock futures point to a softer start as the last full week before Thanksgiving kicks off. We’ll also get retail … Read more

Crypto and tech are the first dominoes to fall as stimulus liquidity dries up, says this money manager. Here’s what could happen next.

Crypto and tech are the first dominoes to fall as stimulus liquidity dries up, says this money manager.  Here's what could happen next.

Markets probably didn’t need another more brick on the 2022 wall of worries, but got one anyway as FTX, the world’s third largest crypto exchange, is teetering on a collapse that could upend already shaky broader risk appetite. Read: Sequoia on its FTX investment: Some surprise to the upside, and some surprise to the downside … Read more

Uber’s business is booming even with high gas prices and inflation

Uber's business is booming even with high gas prices and inflation

CNN — Even higher gas prices and soaring inflation aren’t slowing down Uber’s rebound from the worst days of the pandemic. Uber (UBER) on Tuesday said its revenue hit $8.1 billion during the three months ending in June, more than doubling from the year prior as more customers turn to the ride-hailing service. The number … Read more

ExxonMobil scores enormous profit on record gas prices

ExxonMobil scores enormous profit on record gas prices

New York CNN Business — ExxonMobil and Chevron both reported record massive profits thanks to record gasoline prices during the quarter. Exxon’s profit, excluding special items, came to $17.6 billion in the second quarter, nearly double what it made in its very profitable first quarter as oil and gas prices started to soar in the … Read more

This robot-driven macro fund is outperforming its peers. Here’s the good and bad news it has for markets.

This robot-driven macro fund is outperforming its peers.  Here's the good and bad news it has for markets.

The Deuterium Global Dynamic Allocation Fund is what its fund managers like to say is a glass, rather than black, box. It’s built around a macroeconomic model that forecasts a host of economic variables across multiple countries, and then combined with separate models for central bank policy, market valuation and price trends. What the model … Read more

Buying stocks now could bring you pain over the next few weeks. But you’ll be thanking yourself a year from now, these analysts say.

Buying stocks now could bring you pain over the next few weeks.  But you'll be thanking yourself a year from now, these analysts say.

How bad is the mood out there right now? Try max bearish. So said Bank of America’s latest fund manager survey on Tuesday that showed expectations for profits and growth at recessionary levels. Yet Wall Street rallied and more gains are ahead for Wednesday, partly on earnings optimism but also as some see all this … Read more