US to Boost Strategic Petroleum Reserve: Major Oil Purchase Expected in June, Granholm Reveals
The United States Energy Department, led by Secretary Jennifer Granholm, has announced a plan to replenish the country’s Strategic Petroleum Reserve (SPR) starting as soon as next month. As part of the plan, the department is set to purchase crude oil to help rebuild the nation’s stocks. The SPR is a federally-owned reserve of crude […]
Breaking: Biden’s High-Stakes Debt-Ceiling Meeting with Congress Leaders Faces Unexpected Delay
President Joe Biden’s planned meeting on the debt ceiling with congressional leaders, initially scheduled for Friday, has been postponed until next week. According to multiple reports, including one from the Associated Press, staff talks will continue in the meantime. The group previously met on Tuesday but did not reach a breakthrough on spending or raising […]
“Silver & Gold Plunge, Copper Hits Record Low: November’s Unprecedented Market Shift!”
Gold, silver, and copper experienced significant declines on Thursday, with silver falling nearly 5%, as a result of a rebound in the US dollar and concerns surrounding China’s economic recovery. These precious metals have been a popular choice for safe-haven investors amid uncertainty and inflationary pressures due to the pandemic, with gold even hitting its […]
“2-Month T-Bill Rate Plummets: Traders Tackle Banking & Debt-Ceiling Dilemmas – Unraveling the Aftermath!”
As traders assess the risks facing the US economy, the 2-month T-bill rate has experienced a significant decline, falling almost half a percentage point since the previous Thursday. By 11 a.m. Eastern time, the yield had dropped by 46.3 basis points, resulting in a 4.859% yield, according to Tradeweb. This downward trend reflected traders’ concerns […]
Wholesale Inflation & Jobless Claims Data: US Stocks Open Lower – Latest Insights!
The U.S. stock market opened mostly lower Thursday, as investors digested a fresh reading on wholesale inflation and weekly jobless claims data. The Dow Jones Industrial Average DJIA was down 0.5% soon after the opening bell, while the S&P 500 SPX fell 0.2% and the Nasdaq Composite COMP gained 0.1%, according to FactSet data, at […]
“Treasury Yield Plummets: Traders Eye Inflation Data, Debt-Ceiling Breakthrough in 2-Month T-Bill Slump”
The US Treasury market experienced a decline in yields on Wednesday afternoon, led by the yield on the 2-month T-bill. This comes as traders considered April’s consumer-price index data and the possibility of a resolution to the US debt ceiling in the coming months. The 2-month rate dropped to 5.009% as of 12 p.m. Eastern […]
Breaking: U.S. Oil Futures Drop Following Unexpected Weekly Surge in Crude Supplies!
U.S. oil futures settled with a loss on Wednesday after the Energy Information Administration reported the first weekly gain in U.S. crude supplies in four weeks. June West Texas Intermediate crude CLM23 fell $1.15, or 1.6%, to settle at $72.56 a barrel on the New York Mercantile Exchange.
“US Stocks Conquer Volatility: Soar Post-Inflation Data Reveal, Market Resilience Showcased!”
US stocks mostly saw gains on Wednesday, with the S&P 500 and the Nasdaq Composite ending the day in the green, while the Dow Jones Industrial Average was slightly down. This came after a report showed that inflation pressures in April eased around as much as expected, and the market reacted accordingly. The S&P 500 […]
Sonos Tanks 23% as Audio Equipment Maker Suffers Demand Slump: Is an Industry in Crisis?
Shares of Sonos Inc., the California-based audio product pioneer, fell more than 23% in the extended session on Wednesday after the company posted better than expected second quarter results but cut guidance for the year citing a softening market with decreased consumer demand. In its Q2 report, Sonos lost $31 million, equivalent to 24 cents […]
AppLovin Soars as Revenue Skyrockets, Defying Street Estimates with Stellar Outlook
AppLovin Corp., an app-monetization company, recently reported better than expected revenues and forecasts, causing its shares to rally by 8% after-hours. The stock has gained 69% since the beginning of the year, outperforming the S&P 500 and the Nasdaq Composite Index, which have increased by 7.8% and 17.6% respectively. In the first quarter, AppLovin posted […]