As Shanghai reopens, California ports prepare for cargo surge
June 2, 2022 5:03 PM PDT From Reuters News: Reporting by Lisa Baertlein in Los Angeles; Editing by Lincoln Feast. California port leaders expect imports to rise as Shanghai, home to the world’s busiest seaport, emerges from a two-month COVID-19 lockdown. The question is whether that release of pent-up goods will again swamp West Coast […]
China is boosting Russian oil purchases by nearly 50% after initially cutting back
MAY 20, 2022, 22:19 IST Business Insider US Brian Evans China is ramping up its purchases of Russian oil and picking up the slack of Western buyers. The world’s top oil importer is nearing 1.1 million barrels per day of Russian crude brought by sea, Reuters said. China previously recorded imports of 750,000 barrels per […]
How the World Is Paying for Putin’s War in Ukraine
May 31, 2022, 9:01 PM PDT Bloomberg News In early March, as the US and its allies unleashed a wave of sanctions on Russia, President Joe Biden stood in the White House and said they wanted to deal a “powerful blow to Putin’s war machine.” But as the war in Ukraine approaches its 100th day, that […]
Moscow expects big jump in profits from energy exports in 2022
June 4, 2022 From Reuters News: Reporting by David Ljunggren; Editing by Leslie Adler and David Gregorio Russian Foreign Minister Sergei Lavrov on Saturday said Western sanctions would have no effect on the country’s oil exports and predicted a big jump in profits from energy shipments this year. “Considering the price level that has been […]
Saudi foreign minister does not expect immediate global oil shortage
May 24, 2022 From Reuters News: Reporting by Dmitry Zhdannikov; Editing by Alexander Smith Saudi Arabia does not expect an immediate shortage of oil and only a certain shortage of oil products, the country’s foreign minister Prince Faisal bin Farhan Al Saud said on Tuesday when asked why Riyadh has rebuffed U.S. calls to raise […]
JPMorgan’s Kolanovic sees stock market recouping 2022 losses and end the year flat
CNBC JPMorgan’s Kolanovic sees stock market recouping 2022 losses and end the year flat PUBLISHED WED, JUN 1 2022 1:33 PM EDT Yun Li Top Wall Street strategist Marko Kolanovic said he’s staying optimistic amid the market volatility, calling for the S&P 500 to recoup this year’s steep losses and finish 2022 unchanged. “We remain positive […]
US PREVIEW: Spending to Rise Amid High but Slowing Inflation
Thursday, May 26, 2022 09:00 AM By Yelena Shulyatyeva (Economist) (Bloomberg Economics) — Personal spending kept growing at a solid clip in April, Bloomberg Economics estimates. American consumers remained resilient to high inflation, increasingly relying on credit cards amid a record-low ratio of household debt servicing to income. Personal Income & Spending BE Estimate Consensus Prior […]
GOLDMAN SAYS SIGNS THAT INFLATION IS PEAKING COULD BE POSITIVE FOR STOCKS
CNBC PUBLISHED FRI, MAY 27 202212:39 PM EDT Jeff Cox Signs that inflation is at least starting to abate from a 40-year high could be a positive for stocks, according to Goldman Sachs. Markets rallied Friday as a government report showed the pace of inflation slowed a bit in April, primarily due to falling gas prices but […]
Citi’s bear market model says it may be time to buy the dip
PUBLISHED THU, MAY 26 202211:12 AM EDT Fred Imbert@FOIMBERT In this article .SPX+88.60 (+2.23%) Citi thinks it may be time to start buying stocks again, as its bear market model signals that conditions are improving. The bank’s “bear market checklist,” or BMC — which looks at a broad range of potential indicators for a market downturn, […]
Seller Exhaustion? Four Charts Show Bears’ Grip Loosening
Thursday, May 26, 2022 10:32 AM By Isabelle Lee and Vildana Hajric Bullish signs have emerged following near bear-market slump The risk-reward for short-term move is bullish: Cappelleri (Bloomberg) — From an easing in second-by-second selling momentum to a pop in junk-bond prices and fewer stocks hitting new lows, key data watched by analysts to gauge the real-time […]