NEW YORK—COVID-19 vaccine maker Novavax Inc. on Tuesday raised doubts about its ability to remain in business and announced plans to slash spending as it works to prepare for a fall vaccination campaign, and its shares plunged more than 25 percent. The company said there is significant uncertainty around its 2023 revenue, funding from the…
Novavax Raises Doubts About Ability to Remain in Business, Shares Fall
Stocks Slip as Stubborn Inflation Raises Rate Expectations
NEW YORK—Most stocks marched lower Wednesday as stubbornly sticky inflation has Wall Street bracing for interest rates to stay higher for longer. The S&P 500 fell 0.5 percent in its first trading after coming off a frigid February. The Dow Jones Industrial Average edged up by 5 points, or less than 0.1 percent, while the…
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 1)
March 1, 2023
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Benchmark U.S. crude oil for April delivery rose 64 cents to $77.69 a barrel Wednesday. Brent crude for May delivery rose 86 cents to $84.31 a barrel. Wholesale gasoline for April delivery rose 3 cents to $2.67 a gallon. April heating oil rose 6 cents to $2.87 a gallon. April natural gas rose 6 cents…
PREMIERING 3/2 at 7:30PM ET: Jeffrey Tucker: $6 Trillion Created Unprecedented Inflation, All to Feed the ‘Lockdown Machine’
March 1, 2023
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American Thought LeadersbidenBiden adminbiden administrationBiden Inflationbrownstone instituteBusiness & MarketsBusinesses in COVID-19CCP VirusCompaniesCoronavirus In-DepthCOVID Economycritical race theoryeconomic policieseconomicsEconomyEducation & Family NewsenergyEpochTVFederal Reserveinflationjeffrey tuckerJoe BidenLive VideosMarketsMedia & Big Techpersonal financePolicies & ImpactsrecessionUSVaccines & SafetyVideo
“While we slept—while we thought the world was just fine—what was actually happening was a tremendous distortion of the production structures.” I sit down with Jeffrey Tucker, senior economics columnist for The Epoch Times and founder and president of The Brownstone Institute. Tucker says labor supply problems are approaching catastrophic levels with historically low worker-to-population…
The Case for CryptoCurrency
Commentary Most people have heard about cryptocurrency. If you listen to Warren Buffet’s partner Charlie Munger, you would have heard it is a fraud. My own problem with cryptocurrency is it’s all promises with no delivery. No one has built anything useful yet. When you talk to proponents of cryptocurrency, they will regale you with…
Eurozone Factory Output Returned to Growth in February: PMI
LONDON—Overall activity in the eurozone’s manufacturing sector contracted again in February but output increased for the first time since May as supply chains continued to heal, a survey showed on Wednesday. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) dipped to 48.5 in February from January’s 48.8, in line with a preliminary reading but still…
Russia Reducing Dollar Dependence by Relying on Chinese Yuan
March 1, 2023
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Russia is easing its dependence on the U.S. dollar and quickly growing reliant on the Chinese yuan, which could turn out to be either a boon for Moscow or a substantial risk, experts warn. Over the last year, the Russian economy has been restricted from Western financial networks and has faced economic and political sanctions…
Wall Street Opens Lower as Yields Rise Again
Wall Street’s main indexes opened lower on Wednesday as Treasury yields rose on bets of more rate hikes by the Federal Reserve that offset optimism from strong China manufacturing data. The Dow Jones Industrial Average fell 0.33 points, or 0.00 percent, at the open to 32,656.37. The S&P 500 opened lower by 6.81 points, or…
Apartment Rents Fall Nationwide Amid New Supply Boost
U.S. apartment rents are falling nationwide amid a new boost in housing unit supplies this year. Apartment rents have declined in every major metropolitan area throughout the United States over the past six months, through January. The new trend is expected to last into 2024, as more units come online, reported The Wall Street Journal….
Dollar Slides, Yuan Gains on China PMI; Hot Inflation Lifts Euro
LONDON—The dollar slumped and China’s yuan gained on Wednesday after China’s manufacturing activity expanded at its fastest pace since April 2012, while the euro rose after regional German inflation data signaled price pressures remain high. The Australian and New Zealand dollars were also among the beneficiaries of the robust Chinese data, which smashed expectations with…
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