Oil continued to slide
with West Texas Intermediate
slipping 1.53% to $84.42.
Gold also dropped 0.68% to
reach $1,664.75 an ounce.
Bitcoin fought back to reach
$19,043.29, a 0.73% gain.
Carlyle Group co-founder David Rubenstein warned that a Fed rate hike of 100 basis points would cause further turmoil in markets and add to fears of inflation.
Carlyle Group co-founder David Rubenstein warned that a Fed rate hike of 100 basis points would cause further turmoil in markets and add to fears of inflation
Key Federal Reserve Inflation Gauge , Rose 2.8% in March.
According to Commerce Department
data released on April 26.
the personal consumption expenditures
(PCE) price index, not including food or energy, rose 2.8% year-over-year in March. .
That exceeded Dow Jones
estimates of 2.7%, CNBC reports. .
When also accounting for food and energy, the all-items PCE measure rose 2.7%,
which was above the 2.6% estimate.
Inflation reports released this morning
were not as a hot as feared, , George Mateyo, chief investment officer at Key Wealth, via CNBC.
... but investors should not get
overly anchored to the idea that
inflation has been completely
cured and the Fed will be cutting
interest rates in the near-term, George Mateyo, chief investment officer at Key Wealth, via CNBC.
The prospects of rate cuts remain,
but they are not assured, and the
Fed will likely need weakness in
the labor market before they
have the confidence to cut, George Mateyo, chief investment officer at Key Wealth, via CNBC.
Consumers continue to spend despite
higher prices, CNBC reports.
Personal spending increased 0.8% in March, while personal income rose 0.5%.
The personal saving rate dropped to 3.2% as more people are having to dip into their savings to cover the cost of living.
The Fed continues to target 2% inflation, which the core PCE has exceeded for
the last three years, CNBC reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
Fears of Potential Iranian Attack , Drive US Stocks Down , Nearly 500 Points.
CNN reports that United States stocks dropped on
April 12 amid rising tensions in the Middle East pushing
traders to seek safe havens like gold and bonds.
CNN reports that United States stocks dropped on
April 12 amid rising tensions in the Middle East pushing
traders to seek safe havens like gold and bonds.
By mid-afternoon, the Dow had fallen
1.4%, the S&P 500 went down 1.6%,
and the Nasdaq dropped 1.8%.
The dip came after the White House announced
that both the U.S. and Israel are on alert for
a potential attack by Iran or its allies.
The dip came after the White House announced
that both the U.S. and Israel are on alert for
a potential attack by Iran or its allies.
The warning comes after Iran
accused Israel of a deadly airstrike
on a consulate in Damascus, Syria. .
The news also sent oil prices up amid
fears of regional tensions escalating
as a result of the ongoing war in Gaza. .
The news also sent oil prices up amid
fears of regional tensions escalating
as a result of the ongoing war in Gaza. .
Brent crude futures jumped up to $90.42
a barrel, and West Texas Intermediate crude
futures increased to $86.65 a barrel.
Those geopolitical concerns and subsequent
rising oil prices sent investors to safe havens like
gold futures, which rose to $2,379 a troy ounce.
Those geopolitical concerns and subsequent
rising oil prices sent investors to safe havens like
gold futures, which rose to $2,379 a troy ounce.
CNN reports that Americans' opinions of
the economy have dipped in the past few
months amid persistently high inflation.
The geopolitical fears come as investors are already
contending with concerns that the Federal Reserve could
wait to bring interest rates down from a 23-year high.
Officials at the Fed have signaled that further rate
hikes could still be on the way if the central
bank's efforts to fight inflation stall.
Credit: Wibbitz Top Stories Duration: 01:31Published
Federal Reserve Posts Massive, $114 Billion , Loss in 2023.
On March 26, the Federal Reserve
announced a record-breaking net
negative income of $114.3 billion in 2023.
Reuters reports that the loss follows
$58.8 billion in net income in 2022. .
Since releasing the numbers,
the Fed has stressed that negative net
income does not impede its ability to operate.
Since releasing the numbers,
the Fed has stressed that negative net
income does not impede its ability to operate.
As a result of low rates and large
levels of bond holdings, the Fed has
earned significant profits in recent years.
Last year, the Fed's audited interest expenses for
banks' reserve balances reached $176.8 billion,
an increase of over $116 billion from 2022.
In 2023, the Fed's interest payouts from
its reverse repo facility were $104.33 billion,
increased from $41.9 billion the year before.
Reuters reports that the Fed creates funds when
dealing with operating losses, capturing its loss
in an accounting device known as a deferred asset.
Reuters reports that the Fed creates funds when
dealing with operating losses, capturing its loss
in an accounting device known as a deferred asset.
At the close of 2023, the deferred
asset stood at $133.3 billion.
As of March 20 of this year, that number
had risen to $157.8 billion with no
indication of how much larger it could get.
Last year, a St. Louis Fed report forecast that it
could take years before the Fed can return to
profitability and reduce the country's deferred asset.
Last year, a St. Louis Fed report forecast that it
could take years before the Fed can return to
profitability and reduce the country's deferred asset
Credit: Wibbitz Top Stories Duration: 01:30Published
In this Biz Pulse episode, we delve into market updates and the US Federal Reserve's announcement. Indian ADRs witness a decline, while IT stocks garner attention. Equity markets are on an upswing, while gold prices surge. Stay tuned for insights into these trends shaping the financial landscape.
#ADRStocks #ITMarket #StockMarket #Sensex #Nifty #IndianStocks #USStocks #USStockexchange #Businessnews #Worldnews #Oneindia #Oneindianews
~HT.178~PR.282~ED.101~GR.124~
Experts Say Fed's , Rate Hikes Could Impact , Housing Market for Decades.
Yahoo Finance reports that the housing market
has been showing signs of bouncing back as
this year's spring home-buying season begins.
For the second week in a row, mortgage rates
fell, reaching the lowest level in over a month. .
According to Freddie Mac, the average rate
on a 30-year fixed mortgage dropped to
6.74% from 6.88% the week before.
At the same time, supply is also
starting to rebound, with new listings
hitting a 17-month high in February. .
Despite the improvement, experts warn
that the Fed's aggressive rate-hiking campaign could
have long-lasting side effects on the housing market.
Despite the improvement, experts warn
that the Fed's aggressive rate-hiking campaign could
have long-lasting side effects on the housing market.
According to economist Gary Shilling, the Fed's
campaign has created a "perfect storm,"
with higher rates causing would-be
home sellers to put their plans on hold. .
It won't continue
indefinitely, but it certainly
is disruptive right now, Gary Shilling, Economist, via Yahoo Finance.
Redfin CEO Glenn Kelman shared similar views on the future of the housing market, warning it could take decades to move beyond the impact of the Fed's efforts.
Redfin CEO Glenn Kelman shared similar views on the future of the housing market, warning it could take decades to move beyond the impact of the Fed's efforts.
There's going to be low
supply for a long time to
come. What the Fed did…
will have a 30-year tail on it, Glenn Kelman, Redfin CEO, via Yahoo Finance.
Yahoo Finance reports that mortgage rates may be
unlikely to fall much further in the near term, meaning
that a more substantial rebound may still be far off.
Credit: Wibbitz Top Stories Duration: 01:30Published
Russian Deputy Defense Minister Timur Ivanov, implicated in a bribery case, was arrested amid the Ukraine conflict's third year. Sanctioned by the US and EU for Russia's actions, Ivanov faces allegations of accepting a significant bribe. The arrest underscores corruption concerns within Russia's defense establishment, with Ivanov's oversight of critical areas like property management and construction adding gravity to the situation.
#TimurIvanov #US #EU #Ukrainewar #Ukraineconflict #RussiaUkraine #Ukraineconflict #Worldnews #news #Oneinda #Oneindia news
~PR.152~ED.103~GR.125~HT.96~
The Ukrainian army announced on Sunday that it hit and damaged the Russian ship ‘Kommunua’ in the city of Sevastopol by the Black Sea.
The Moscow-appointed governor of the region also reported attacks and fires in Crimea.
Credit: euronews (in English) Duration: 01:02Published
Rising water levels in Russia and Kazakhstan trigger mass evacuations, affecting over 100,000 people. Unprecedented floods hit major cities like Moscow and Astana, prompting states of emergency. Evacuations continue as rivers swell, with warnings issued for residents to leave flood-prone areas immediately. Officials work to bolster defences and manage the escalating crisis.
#russiafloods #russiafloodstoday #russiafloods2024 #moscow #Astana #russiafloodsand #russiafloodsandrussia #Worldnews #Oneindia #Oneindianews
~ED.101~GR.122~
Abby Dow and Ellie Kildunne both score hat-tricks as England hammer Ireland at Twickenham in front of 48,778 to remain on course for the Grand Slam. BBC Sport
Oil prices surged by more than four percent on Friday following Israel's missile strikes on Iran, amplifying concerns of heightened tensions in the West Asia region. The global benchmark, Brent crude, soared to $90.54 per barrel, while US West Texas Intermediate (WTI) crude futures spiked by 4.06 percent to $86.09. With apprehensions mounting over a potential escalation of the Gaza conflict spreading beyond Israel's borders, there are growing fears of a significant impact on the global oil supply.
#IsraelStrikesIran #OilPricesRise #IsraeliStrikes #IranIsraelConflict #MiddleEastTensions #GlobalOilMarket #GeopoliticalTensions #OilPriceSurge #WorldEconomy #InternationalConflict
~PR.152~ED.101~GR.125~HT.96~
Euronews caught up with Yves Holenstein from Bitcoin Suisse AG to learn how the largest cryptocurrency is about to be part of our day-to-day lives in the next few years.
Credit: euronews (in English) Duration: 06:22Published
Bitcoin Rallies, on Hopes of Renewed Interest , Among Mainstream Investors.
On March 4, the price of Bitcoin broke $65,000,
bringing it closer to returning to an all-time
high reached in November 2021.
NBC reports that the latest rally has been driven
by hopes that the launch of bitcoin exchange-
traded funds will expand bitcoin's pool of buyers. .
In 2024, the cryptocurrency has
gained over 48%, rapidly approaching its
record intra-day all-time high of over $68,000.
In January, Bitcoin ETFs were first approved by
the Securities and Exchange Commission (SEC). .
The SEC said the approval of the ETFs were meant
to make it easier for investors to gain exposure to
Bitcoin without having to actually own the digital coins.
NBC reports that the world of crypto is also banking
on a potential rally following a technical event
known as "halving" scheduled to occur in April.
This event will see the rate of supply for new bitcoin
to decline, which could cause the value of the
cryptocurrency to increase if demand remains unchanged.
Some mainstream investment experts have
still urged caution when it comes to investing
in the controversial cryptocurrency.
With equities, you own a share
of a company that produces goods
or services, and many also pay
dividends. With bonds, you get
a stream of interest payments, Vanguard statement, via NBC.
Commodities are real assets that meet
consumption needs, have inflation-
hedging properties, and can play
a role in certain portfolios, Vanguard statement, via NBC.
While crypto has been classified
as a commodity, it’s an immature
asset class that has little history,
no inherent economic value,
no cash flow, and can create
havoc within a portfolio, Vanguard statement, via NBC
Credit: Wibbitz Top Stories Duration: 01:32Published
Bitcoin , Tops $63,000.
On Feb. 29, bitcoin advanced more than
5% to $63,252.82, CNBC reports.
The day before, the cryptocurrency reached $64,000 and then dropped back to $60,000.
For the month of February,
bitcoin is currently up 47%.
The figure represents a
sixth consecutive month of gains.
The last time that the currency had a similar showing was in December 2020, at which time it rose 49.5%.
On Feb. 28, bitcoin ETFs had "a record
$677 million in daily net inflows," CNBC reports. .
We’ve seen over $2 billion coming into
the various bitcoin ETFs so there’s been this
need to access more supply of bitcoin to build
these ETFs and that ends up driving prices
up particularly in the near term. , Sylvia Jablonski, CEO and chief investment officer
at Defiance ETFs, via CNBC.
The second reason why you might
be getting some extra momentum
in the price over the last couple
of days is the upcoming halving, Sylvia Jablonski, CEO and chief investment officer
at Defiance ETFs, via CNBC.
Historically the halving has led to bitcoin
prices increasing … past performance is not
indicative of future performance, but I do think
there’s this belief that the halving process will
result in the same level of price appreciation, Sylvia Jablonski, CEO and chief investment officer
at Defiance ETFs, via CNBC.
Bitcoin's next "halving" is
scheduled for this April
Credit: Wibbitz Top Stories Duration: 01:30Published
Stocks Tumble , to New 2022 Low, , Enter Bear Market Territory.
On September 23, following a brutal week for
financial markets, stocks tumbled amid surging interest
rates and increased fears of a..
Credit: Wibbitz Top Stories Duration: 01:31Published
This week's The Crypto Mile Weekly Update sees Ripple and Tsuka soar in value despite the downturn experienced by the majority of the crypto-market after the Federal Reserve raised interest rates by 75..
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