NEW YORK—Stocks fell on Wall Street Tuesday after reports on the economy came in weaker than expected. The S&P 500 dropped 23.91 points, or 0.6 percent, to 4,100.60 to break a four-day winning streak. The Dow Jones Industrial Average fell 198.77, or 0.6 percent, to 33,402.38, and the Nasdaq composite sank 63.13, or 0.5 percent,…
Closing Prices for Crude Oil, Gold and Other Commodities (Apr. 4)
April 4, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal financeUncategorized
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Benchmark U.S. crude oil for May delivery rose 29 cents to $80.71 a barrel Tuesday. Brent crude for June delivery rose 1 cent to $84.94 a barrel. Wholesale gasoline for May delivery fell 2 cents to $2.74 a gallon. May heating oil rose 1 cent to $2.67 a gallon. May natural gas rose 1 cent…
China Seeks to Dethrone Dollar to Corner World Energy Markets
April 4, 2023
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Business & MarketsChinaDe-Dollarizationeconomic policiesenergyGold and CommoditiesinflationInternationalization of Chinese yuanMarketsOPEC oilreserve currencyUS
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News Analysis A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of the Beijing regime’s strategy to…
China’s ‘De-dollarization’ Efforts Are Part of a Strategy to Corner World Energy Markets
April 4, 2023
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Business & MarketsChinaCompaniesDe-Dollarizationeconomic policiesenergyGold and CommoditiesinflationInternationalization of Chinese yuanMarketsOPEC oilreserve currencyUS
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A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of China’s strategy to gain influence over global…
China’s ‘De-Dollarization’ Efforts Are Part of Strategy to Corner World Energy Markets
April 4, 2023
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Business & MarketsChinaDe-Dollarizationeconomic policiesenergyGold and CommoditiesinflationInternationalization of Chinese yuanMarketsOPEC oilreserve currencyUS
0 Comment
News Analysis A longstanding plan by China and Russia to replace the U.S. dollar as the world’s reserve currency has had a string of recent headline-grabbing successes, as China methodically builds a rival monetary system that has been dubbed “Bretton Woods III.” This currency initiative is the financial component of the Beijing regime’s strategy to…
JPMorgan CEO Says Bank Crisis Not Over, America Shifting Into a ‘Vicious Cycle’
JPMorgan CEO Jamie Dimon said in a letter to shareholders that the U.S. banking crisis is not over, and that even when it does end, its impact will linger for years, while warning that America seems to moving into a “vicious cycle.” “As I write this letter, the current crisis is not yet over, and…
Gold Ascends Above $2,000, Approaching All-Time High: Peter Schiff Weighs In
The price of gold surged to $2,020 per ounce on Tuesday, driven by the recent banking scares and concerns over rising inflation. This marks the third time in history that the precious metal has pierced the $2,000 level; the first was in August 2020, when gold reached its all-time high of $2,075 per ounce. Experts…
Gold Approaches All-Time High as It Passes $2,000 Level
The price of gold surged to $2,020 per ounce on Tuesday, driven by the recent banking scares and concerns over rising inflation. This marks the third time in history that the precious metal has pierced the $2,000 level; the first was in August 2020, when gold reached its all-time high of $2,075 per ounce. Experts…
Trifecta of Inflation, Recession, and Banking Insolvency Leading to a ‘Doom Loop’: Economist
April 4, 2023
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banking crisisBusiness & Marketseconomic recessioneconomyinflationMarketsNouriel RoubiniPolicies & ImpactsrecessionstagflationUSUS News
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Decades-high persistent inflation combined with increasing risks of an economic recession and an imminent insolvency crisis in the banking sector have resulted in a “trilemma” facing central banks, including the U.S. Federal Reserve, warns top economist Nouriel Roubini. “Unable to fight inflation and provide liquidity support simultaneously, the only solution is a severe recession—and thus…
FDIC Looking to Sell $60 Billion Loan Portfolio It Acquired From Failed Signature Bank
April 4, 2023
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Business & MarketsCompanieseconomic policieseconomyFDICInvestmentloan portfolioMarketsNew YorkNY Real EstatePolicies & Impactsreal estateRegional & State NewsSignature BankState NewsUSUS News
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The Federal Deposit Insurance Corporation (FDIC) is looking to sell a $60 billion loan portfolio in the new few months, which it acquired in receivership following the collapse of Signature Bank last month. The portfolio mainly consists of commercial real estate loans (CRE), commercial loans, and a small pool of single-family residential loans, the FDIC said in a statement….
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