Tag: Markets

What Are the Different Uses for Gold?

November 21, 2022
alloysBusiness & MarketscoinsgoldGold and CommoditiesInvestmentjewelryMarketsSpecial EditionsSponsored Content
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There are many uses of gold in the modern world, from practical to purely symbolic. As a limited resource, gold retains its value. Gold is one of the most sought-after and trusted commodities. Even the term “gold standard” refers to a standard that is unquestioned or above reproach. Gold has motivated pirates, treasure hunters, and…

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S&P 500, Nasdaq Open Lower as China COVID-19 Cases Tick Higher

November 21, 2022
Business & Marketseconomic policieseconomyinflationMarketsrecessionstocksUS
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The S&P 500 and the Nasdaq opened lower on Monday as COVID-19 flare-ups in China reignited concerns about slowing growth, while a jump in Disney’s shares following Bob Iger’s surprise comeback as chief executive supported the Dow. The Dow Jones Industrial Average rose 14.6 points, or 0.04 percent, at the open to 33760.3. The S&P…

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Dollar Jumps as China COVID-19 Worries Spur Safe-Haven Buying

November 21, 2022
Business & Marketscryptocurrencyeconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON/SINGAPORE—The U.S. dollar rallied against major currencies on Monday, as rising COVID-19 cases in China led to new restrictions there and weighed on global investor sentiment. China is battling numerous coronavirus flare ups. Two deaths were reported in Beijing on Sunday, and the city’s most populous district urged residents to stay at home on Monday….

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Oil Prices Ease to Near 2-month Lows on China Demand Fears, Dollar Strength

November 21, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices slipped to trade near two-month lows on Monday, having earlier slid by around $1 a barrel, as supply fears receded while concerns over fuel demand from China and U.S. dollar strength weighed on prices. Brent crude futures for January had slipped 51 cents, or 0.6 percent, to $87.11 a barrel by 1205 GMT….

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World Stocks Tumble on Chinese COVID-19 Outbreaks

November 21, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stocks and oil prices fell on Monday as fresh COVID-19 restrictions in China exacerbated worries about the global economic outlook. The safe-haven dollar rallied, while the U.S. Treasury yield curve remained deeply inverted in a sign that investors remain alert to global recession risks. Coronavirus outbreaks across China are a setback to hopes for…

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With Black Friday Ahead, Investors Look to US Consumer Stocks

November 20, 2022
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NEW YORK—As the most important shopping period of the year approaches, some investors are betting shares of beaten-down consumer stocks will benefit if inflation keeps falling and retail sales stay strong. Consumer discretionary stocks, a group whose members run the gamut from Amazon.com Inc. and automaker Tesla Inc. to retailer Target Corp., have been walloped…

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Trump-Era Treasury Secretary Calls G7 Russian Oil Price Cap ‘Ridiculous’

November 19, 2022
Business & Marketseconomic policieseconomyenergyEuropeGold and CommoditiesMarketsNational SecurityPolicies & ImpactsRussiaRussia-Ukraine Warrussian oil price capUKUkraineUSWorld
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Former U.S. Treasury Secretary Steven Mnuchin has called the Group of Seven’s plan to place a price cap on Russian oil “ridiculous.” The veteran cabinet member from the Trump administration was speaking with CNBC’s Hadley Gamble on a panel at the Milken Institute’s Middle East and Africa Summit. In addition to being a former Goldman Sachs…

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Alameda: The Firm at the Heart of FTX’s ‘Catastrophic Collapse’

November 19, 2022
AlamedaBusiness & MarketsCompaniescryptocurrencyeconomic policiesFTXInvestmentMarketsSam Bankman-FriedUSUS News
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In late 2017, MIT alumnus Sam Bankman-Fried left the quantitative trading firm Jane Street to start his own cryptocurrency trading firm, Alameda Research. Founded prior to FTX, Alameda got its start by taking advantage of bitcoin price differentials between Japanese and U.S. exchanges, namely by buying bitcoin for a low price in the United States and selling for…

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Bank of America Downgrades Coinbase Following FTX Collapse

November 19, 2022
Bank of AmericaBofABusiness & MarketscoinbaseCompaniescrypto bankruptcyCrypto Exchange FTXcryptocurrencyMarkets
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Bank of America (BofA) has downgraded the shares of crypto exchange platform Coinbase following the collapse of the FTX crypto exchange while warning about contagion risks in the volatile sector. The FTX crisis means that Coinbase (COIN) will likely face several new headwinds in the near or medium term, BofA analysts said in a note…

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Closing Prices for Crude Oil, Gold and Other Commodities (Nov. 18)

November 18, 2022
Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for December delivery fell $1.56 to $80.08 a barrel Friday. Brent crude for January delivery fell $2.16 to $87.62 a barrel. Wholesale gasoline for December delivery fell 3 cents to $2.42 a gallon. December heating oil was unchanged at $3.52 a gallon. December natural gas fell 7 cents to $6.30 per…

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