NEW YORK—Wall Street held steady Monday ahead of a week full of reports on some of the market’s biggest worries, including how stubbornly high inflation remains across the economy. The S&P 500 edged up by 1.87, or less than 0.1 percent, to 4,138.12 coming off its worst week in nearly two months. The Dow Jones…
Closing Prices for Crude Oil, Gold and Other Commodities (May 8)
May 8, 2023
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Benchmark U.S. crude oil for June delivery rose $1.82 to $73.16 a barrel Monday. Brent crude for July delivery rose $1.71 to $77.01 a barrel. Wholesale gasoline for June delivery rose 8 cents $2.46 a gallon. June heating oil rose 7 cents $2.38 a gallon. June natural gas rose 10 cents to $2.24 per 1,000…
Investors Should Prepare for Threat of a ‘Minsky Moment,’ Says Economist
May 8, 2023
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Business & MarketsCompaniescredit cruncheconomic policieseconomyhyman minskyinflationInvestmentMarketsminsky momentpersonal financerecessionstocksUSWorld
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Investors should prepare for months of market readjustments due to the imminent threat of a “Minsky Moment,” said a top economist. The “Minsky moment” is named after economist Hyman Minsky’s description of a precipitous drop in asset prices after a build-up of debt. Ludovic Subran, the chief economist at Allianz, formerly worked at the World Bank…
Diesel Prices on Cusp of $4 a Barrel as Pump Prices Decline for Third Straight Week
May 8, 2023
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Business & MarketsCompaniesdiesel priceseconomic policieseconomyenergygas pricesinflationInvestmentMarketsoil marketspersonal financerecessionstocksUSUS debt ceilingUS News
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Average U.S. diesel prices have declined, while gas prices declined for the third consecutive week. The national average price of diesel fell by $0.063 over the last week, and now stands at $4.01 per gallon, $1.51 lower from a year ago, according to GasBuddy. The most common U.S. diesel price was $3.99 per gallon, which stood…
What Are Clad Coins? A Beginner’s Guide
Some collectors call clad coins “the ugly ducklings of U.S. numismatics.” Do you know what these “ugly ducklings” are? In this guide, we’ll answer the question “What are clad coins?” and explain whether they make a good investment. What Are Clad Coins? Clad coins, also known as sandwich metal coins, are made of multiple metal…
Binance Lifts 2nd Block on Bitcoin Withdrawals Within a Day, Citing Unprecedented Cashing Out Volumes
Cryptocurrency exchange Binance halted bitcoin withdrawals twice within 24 hours on Sunday and Monday, citing heavy cash out volumes. For 90 minutes on Sunday morning and again for a few hours later Sunday night, Binance stopped all bitcoin withdrawals on its platform, saying there were too many pending transactions. “We’ve temporarily closed $BTC withdrawals as the #Bitcoin network is…
Buffett’s Berkshire Posts $35.5 Billion Profit, Buys Back More Stock
OMAHA, Nebraska—Warren Buffett’s Berkshire Hathaway Inc. posted a $35.5 billion first-quarter profit on Saturday, reflecting gains from stocks such as Apple Inc., while higher investment income and a rebound at car insurer Geico bolstered operating results. Berkshire also sped up repurchases of its own stock, buying back $4.4 billion, while paring its investments in other…
World Food Prices Rise for First Time in a Year: FAO
The world price index of the United Nations food agency increased in April this year for the first time since April 2022, but it is still 20 percent lower than a March 2022 peak after the war in Ukraine started. The Food and Agriculture Organization’s (FAO) price index, which tracks the most globally traded food…
Closing Prices for Crude Oil, Gold and Other Commodities (May 5)
May 5, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for June delivery rose $2.78 to $71.34 a barrel Friday. Brent crude for July delivery rose $2.80 to $75.30 a barrel. Wholesale gasoline for June delivery rose 5 cents $2.38 a gallon. June heating oil rose 7 cents $2.31 a gallon. June natural gas rose 4 cents to $2.14 per 1,000…
‘One of the Greatest Decisions in My Life’: Short Seller Closed Fund Before Fed’s Monetary ‘Bazooka’
May 5, 2023
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After a decade in the securities business, Bill Fleckenstein began to see the writing on the wall at 2051 Constitution Avenue in the mid-1990s. Around that time, the Marriner S. Eccles Federal Reserve Board Building—at the time occupied by chairman Alan Greenspan—had a stark shift in philosophy and governance style. Once a student of the…
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