LONDON/SYDNEY—World stocks were heading on Friday for a 1 percent loss on the week, drifting from recent two-month highs after U.S. Federal Reserve officials fired more warning shots on interest rates, while the U.S. bond yield curve priced for a recession. The dollar and bond yields rose after St. Louis Fed President James Bullard said…
World Stocks Eye 1 Percent Weekly Loss, US Yield Curve Indicates Recession
November 18, 2022
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Stocks Fall as Fed Signals Rates Need to Go Still Higher
Stocks closed lower on Wall Street and Treasury yields rose Thursday afternoon after more indications from the Federal Reserve that it may need to raise interest rates much higher than many people expect to get inflation under control. The S&P 500 fell 0.3 percent, with retailers and banks among the biggest weights on the benchmark…
Closing Prices for Crude Oil, Gold and Other Commodities (Nov. 17)
November 17, 2022
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Benchmark U.S. crude oil for December delivery fell $3.95 to $81.64 a barrel Thursday. Brent crude for January delivery fell $3.08 to $89.78 a barrel. Wholesale gasoline for December delivery fell 6 cents to $2.45 a gallon. December heating oil fell 9 cents to $3.52 a gallon. December natural gas rose 17 cents to $6.37…
Surging Mortgage Rates Could Drive Home Prices Down 20 Percent: Dallas Fed
November 17, 2022
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Business & Marketseconomic policieseconomyhousing pricesinflationInvestmentMarketsmortgage ratespersonal financereal estateUSUS Real Estate
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Surging mortgage rates are now threatening to drive U.S. home prices down as much as 20 percent, according to a new study. Many prospective buyers have been pushed out of the market due to rising home prices and higher mortgage rates. The sharp rise in mortgage rates this year “boost the odds of a severe…
FTX Used Corporate Funds to Buy Homes in the Bahamas, Bankruptcy Documents Show
In another example of financial impropriety, FTX was discovered to have used corporate funds to buy homes in the Bahamas and other personal items in the names of employees and company advisors, according to new court documents. In a 30-page bankruptcy declaration to the United States Bankruptcy Court for the District of Delaware (pdf),…
Fewer Americans File for Jobless Benefits Last Week
WASHINGTON—The U.S. job market remains healthy as fewer Americans applied for unemployment benefits last week, despite the Federal Reserve’s rapid interest rate hikes this year intended to bring down inflation and tighten the labor market. Applications for jobless claims for the week ending Nov. 12 fell by 4,000–222,000 from 226,000 the previous week, the Labor…
Wall Street Opens Lower After Mixed Economic Data, Hawkish Fed Comments
Wall Street’s main indexes opened lower on Thursday as mixed economic data and hawkish comments from a Federal Reserve official spurred concerns that the U.S. central bank would not tone down its aggressive stance on interest rate hikes. The Dow Jones Industrial Average fell 224.6 points, or 0.67 percent, at the open to 33329.27. The…
The Rise and Fall of FTX and Sam Bankman-Fried
The collapse of cryptocurrency exchange FTX sent shockwaves throughout global crypto markets, and the unfolding developments involving founder and CEO Sam Bankman-Fried has garnered the attention of Washington lawmakers. From a $32 billion empire to a bankrupt company, the saga persists. But it might be important to take a step back to understand what exactly…
The Rise and Fall of Sam Bankman-Fried’s Crypto Empire
November 17, 2022
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Business & MarketsChinaCompaniescryptocurrecycryptocurrencyFTXInvestmentMarketsSam Bankman-FriedTech
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The collapse of cryptocurrency exchange FTX sent shockwaves throughout global crypto markets, and the unfolding developments involving founder and CEO Sam Bankman-Fried has garnered the attention of Washington lawmakers. From a $32 billion empire to a bankrupt company, the saga persists. But it might be important to take a step back to understand what exactly…
Vegan ESG Investors Want Plant-Based Food Options in America’s Hospitals
November 17, 2022
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Business & Marketscancel cultureCompanieseconomyEnvironmentESGFeatured TopicshospitalsInvestmentMarketsplant basedScienceSocial IssuesstocksUSUS Newsvegan
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Environmental, social, and governance (ESG) investing continues to reshape America’s private sector. It may soon help dictate the food served at a hospital near you. The boards of directors for several major American healthcare companies have been sent shareholder proposals from proxy-holders of U.S. Climate Vegan ETF, an exchange-traded fund from the vegan investment firm…
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