In this photo provided by the Great Barrier Reef Marine Park Authority the Hardy Reef is viewed from the air near the Whitsunday Islands, Australia Jumbo Aerial Photography | Great Barrier Reef Marine Park Authority via AP Two-thirds of the Great Barrier Reef in Australia recorded the highest amount of coral cover in nearly four … Read more
LONDON — The Bank of England on Thursday hiked interest rates by 50 basis points, its largest single increase since 1995, and projected the UK’s longest recession since the global financial crisis. The sixth consecutive increase takes borrowing costs to 1.75% and marks the first half-point hike since the bank was made independent from the … Read more
Initial claims for unemployment insurance totaled 260,000 last week, near the highest level since November amid a shift in the US labor market. The total for the week ended July 30 was in line with the Dow Jones estimate but a gain of 6,000 from the previous week’s downwardly revised level, the Labor Department reported … Read more
Here are the most important news items that investors need to start their trading day: 1. Stock futures are flat Traders on the floor of the NYSE, August 1, 2022. Source: NYSE 2. Walmart lays off corporate employees A shopping cart outside a Walmart store in Torrance, California, US, on Sunday, May 15, 2022. Walmart … Read more
A sign is posted in front of a Burger King restaurant on February 15, 2022 in Daly City, California. Justin Sullivan | Getty Images Restaurant Brands International on Thursday reported quarterly earnings and revenue that topped Wall Street’s expectations, fueled by international sales growth at Burger King and the recovery of Tim Hortons’ Canadian locations. … Read more
Bank of England announces largest interest rate hike in 27 years The Bank of England on Thursday hiked interest rates by half of a percentage point, the sixth consecutive increase and first bump of this size since 1997, in an effort to cool off inflation. Inflation in the UK is also at a 40-year high, … Read more
Here are the most important news items that investors need to start their trading day: 1. Stocks look to shake off back-to-back losses Traders work on the floor of the New York Stock Exchange (NYSE) on July 25, 2022 in New York City. Stocks rose slightly in morning trading as investors weigh the upcoming Federal … Read more
OPEC+ set to increase oil production by tiny amount OPEC and its allies on Wednesday agreed to raise oil production by a small amount, 100,000 barrels per day, in response to President Joe Biden’s trip to Saudi Arabia last month. During the visit, Biden had aimed to persuade the group’s leader to pump more oil … Read more
(Kitco News) The gold market’s price action is taking a breather following hawkish commentary from the Federal Reserve speakers, with prices pulling further away from the $1,800 an ounce target. The gold price jumped to a daily high of $1,805 an ounce Tuesday morning, led by increased geopolitical tensions as House … Read more
The late afternoon/evening financial media shows talked about the Monday session as if there had been some significant “risk-off” event. I had to chuckle just a bit at the never-ending effort to sensationalize whatever happens on a daily basis. The fact is that there was enough news, economic, or geopolitical, to make for decent conversation. … Read more