Tag: economic policies

Shares Slide, Dollar Strong as US Yields March Higher

October 21, 2022
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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SINGAPORE/LONDON—U.S. Treasury yields held near multiyear highs on Friday, with markets seeing no let-up in tightening from the Federal Reserve, causing shares to slip and the dollar to stay strong, particularly against the embattled Japanese yen. The benchmark U.S. 10-year yield edged up as high as 4.276 percent, its highest level since June 2008, having…

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Inflation Worsening Despite Sagging Demand, Suggesting Stagflation: Philly Fed

October 20, 2022
Business & MarketsCompanieseconomic policieseconomyFederal Reserve bankinflationmanufacturingMarketsrecessionUS
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U.S. inflation rates are getting worse despite a decline in consumer demand and a strong labor market, which suggests that the American economy is currently facing stagflation. Manufacturing activity in the Philadelphia region for October, fell for the second consecutive month, despite rising inflationary pressures, reported the Federal Reserve Bank of Philadelphia on Oct. 20….

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Gasoline Prices Are Stubbornly High in Election Swing States as Biden Releases More Oil From Strategic Reserve

October 20, 2022
2022 Midterm ElectionsBiden administraitonBusiness & MarketsDemocratseconomic policieseconomyenergygas pricesinflationmidterm electionpersonal financePolicies & ImpactsPoliticsrecessionStrategic Petroleum ReserveUS
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Gas prices remain persistently high throughout the United States, as swing-state voters increasingly turn away from the Democrats because of rising fuel costs, three weeks before the midterm elections. The cost of gas is currently higher than at least nine of the last election cycles. Meanwhile, President Joe Biden announced the release of more oil…

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Wall Street Opens Lower as UK’s Truss Resigns as PM

October 20, 2022
Business & Marketseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street’s main indexes opened lower on Thursday after the resignation of Liz Truss as prime minister of the UK added a layer of uncertainty to markets struggling to hold on to gains from a set of positive earnings forecasts from U.S. companies. The Dow Jones Industrial Average fell 11.89 points, or 0.04 percent, at…

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Criminals Spent COVID-19 Unemployment Benefits on Drugs, Weapons: Department of Labor OIG

October 20, 2022
AMERICABusiness & MarketsCCP VirusCOVID-19Crime and Incidentscriminalseconomic policieseconomyunemploymentUSUS News
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The U.S. Department of Labor’s Office of Inspector General (OIG) has said that criminals stole billions of dollars in unemployment money that was issued during the COVID-19 pandemic, and used some of it to purchase drugs and weapons. Congress in March 2020 launched an unemployment aid program for Americans who were unable to work as a…

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Oil Rises on Tight Supplies

October 20, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose by more than $1 on Thursday in response to tighter supplies. Brent crude futures rose $1.33, or 1.4 percent, to $93.74 a barrel at 1020 GMT. U.S. West Texas Intermediate crude for November delivery, which expires on Thursday, rose $1.43, or 1.7 percent, to $86.98 per barrel. The WTI contract for December…

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Yen Softens Past 150 per Dollar for First Time Since 1990

October 20, 2022
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar hit the symbolic level of 150 yen for the first time since 1990 on Thursday as the greenback was supported by Treasury yields trading at multi-year highs, keeping markets on high alert for intervention from Japanese authorities. Moves among other major currencies were muted by recent standards. The euro up 0.5 percent at…

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Stocks Sag, Bond Yields Firm as Yen Sinks Further

October 20, 2022
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Stocks sagged and bond yields firmed on Thursday as looming central bank rate meetings cast a shadow over largely resilient corporate earnings so far which have failed to dispel downbeat investor sentiment. The strong dollar continued to loom over currency markets, with the yen sinking to a 32-year low against the greenback. Investors braced for…

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19 States to Investigate Banks for ESG-Style Commitment to United Nations Alliance

October 19, 2022
Business & Marketscancel cultureCompanieseconomic policieseconomyenergyEnvironmentEric SchmittESGFeatured TopicsGold and CommoditiesMarketsPolicies & ImpactsPoliticsRepublicansScienceUNUnited NationsUSUS NewsWorld
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The war between states and banks over environmental, social, and governance (ESG) investing and similar practices has reached the doorstep of the United Nations–19 state attorneys general have launched investigations of major financial institutions’ commitment to the U.N.-convened “Net-Zero Banking Alliance.” The alliance’s website states that its members control roughly 40 percent of the world’s…

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Homebuilder Confidence Falls for Record Tenth Straight Month

October 19, 2022
Business & MarketsCompanieseconomic policieseconomyhome builder sentimentinflationInvestmentMarketsmortgage ratesreal estateUSUS Real Estate
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Home construction companies continue to be stuck in a deep rut, as confidence in the market falls once again this month. Rising mortgage rates and building material shortages have made new housing less affordable for most of the year, pushing away first-time buyers. The National Association of Home Builders (NAHB) reported on Oct. 19 that its monthly…

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