How to Trade the Potential for $6 Gasoline…
Think $4.50 is bad at the pump? By late summer, it could be above $6. In California, prices just hit a high of $6.021. For the rest of the country, we could be near that by August. According to JP Morgan analyst Natasha Kaneva, the national average could reach $6.20...
Russia makes early debt payment dash to dodge default
By Karin Strohecker LONDON (Reuters) -Russia rushed forward two payments on its international debt on Friday in its latest attempt to stave off a default that has looked on cards since its invasion of Ukraine. A week before the interest payments are due and just five...
Crisis and Opportunity: Target Pullback May be Worth Buying
Weakness in Target (TGT) may be an opportunity. Just yesterday, the retail stock plunged after earnings missed the mark, with Q1 profits falling short, even as sales came in above expectations. Unfortunately, the company is taking a hit with freight costs, and lower...
U.S. House passes bill to fight oil and gas price gouging
WASHINGTON (Reuters) -The U.S. House passed a bill on Thursday that allows the U.S. president to issue an energy emergency declaration, making it unlawful for companies to excessively increase gasoline and home fuel prices. The bill must pass the Senate, which is...
U.S. housing market cooling as building permits tumble, starts fall
By Lucia Mutikani WASHINGTON (Reuters) - Permits for future U.S. homebuilding tumbled to a five-month low in April, suggesting the housing market was slowing as rising mortgage rates contribute to reduced affordability for entry-level and first-time buyers. But the...
The Top 3 Ways to Trade the Next Pullback
The retail consumer is in trouble. Target just proved that. All after earnings missed the mark, with Q1 profits falling short, even as sales came in above expectations. Unfortunately, the company is taking a hit with freight costs, and lower than expected sales of...
Twitter’s account of deal shows Musk signing without asking for more info
By Greg Roumeliotis and Tom Hals (Reuters) - Twitter Inc published its account on Tuesday of its deal negotiations with Elon Musk, showing he opted out of asking the questions about the social media company's business he has now cited in declaring the $44 billion...
Wall Street ends sharply higher, fueled by Apple
By Noel Randewich and Amruta Khandekar (Reuters) - Wall Street finished sharply higher on Tuesday, lifted by Apple, Tesla and other megacap growth stocks after strong retail sales in April eased worries about slowing economic growth. Ten of the 11 major S&P sector...
Dollar slips as risk appetite returns
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar fell for a third straight day on Tuesday, pulling back from a two-decade high against a basket of major peers, as an uptick in investors' appetite for riskier bets diminished the U.S. currency's appeal. Upbeat...
Musk links deal progress on proof of spam bot share on Twitter
By Katie Paul, Krystal Hu and Hyunjoo Jin (Reuters) - Elon Musk said on Tuesday his $44-billion offer would not move forward until Twitter Inc shows proof that spam bots account for less than 5% of its total users, hours after suggesting he could seek a lower price...
Airlines Ink Codeshare Agreements and Bolster Fleets Amid Air Travel Boom
Air travel was on its deathbed at the height of the COVID-19 pandemic as stringent travel restrictions and closed borders fuelled the bleeding. Two years down the road things are looking up going by the investment airlines are making as they look to bounce back....
Israeli police beat mourners at funeral of slain Palestinian journalist
JERUSALEM (Reuters) -Israeli police officers charged at Palestinian mourners carrying the coffin of Al Jazeera journalist Shireen Abu Akleh on Friday, before thousands led her casket through Jerusalem's Old City in an outpouring of grief and anger over her killing....
World equities rise on bounce in U.S., European markets
By Elizabeth Dilts Marshall NEW YORK (Reuters) - Global shares rose on Friday as Wall Street rallied to end a volatile week of trading, while oil jumped 4% on the back of record-high U.S. gas prices. Global markets and U.S. stocks were down sharply most of this week...
Wall Street rallies, weekly losing streak continues
By Stephen Culp NEW YORK (Reuters) - Wall Street surged on Friday to end higher, closing the book on a week of wild market gyrations as relief at signs of peaking inflation vied with fears that policy tightening by the Federal Reserve could tilt the economy into...
Biden says baby formula shortage to ease in weeks as U.S. imports more
By Doina Chiacu and Susan Heavey WASHINGTON (Reuters) -The U.S. baby formula shortage should improve dramatically in coming weeks, President Joe Biden and top officials said on Friday as the administration scrambled to reverse a shortfall that hits lower-income...
Oil jumps 4% as U.S. gasoline prices hit record high
By Scott DiSavino NEW YORK (Reuters) -Oil prices rose about 4% on Friday as U.S. gasoline prices jumped to a record high, China looked ready to ease pandemic restrictions and investors worried supplies will tighten if the European Union bans Russian oil. Brent futures...
Crypto exchange FTX CEO reveals stake in trading app Robinhood
By Greg Roumeliotis and Hannah Lang (Reuters) -Samuel Bankman-Fried, the chief executive and founder of cryptocurrency exchange FTX, revealed a 7.6% stake in Robinhood Markets Inc on Thursday, capitalizing on the weakness of the shares of the trading app to build a...
Gold set for fourth weekly loss on dollar strength, Fed hike bets
By Ashitha Shivaprasad (Reuters) - Gold fell more than 1% on Friday and is set for its fourth straight weekly decline, as the dollar's strong run with more aggressive U.S. interest rates on the horizon sapped appetite for bullion. Spot gold fell 0.7% to $1,808.89 per...
U.S. consumer sentiment approaches 11-year low, monthly import prices unchanged
By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer sentiment slumped to its lowest level in nearly 11 years in early May as worries about inflation persisted, but household spending remains underpinned by a strong labor market and massive savings, which should...
Aeroflot buys eight stranded Airbuses from foreign leasing firms
By Kevin Liffey LONDON (Reuters) - Russia's biggest airline, Aeroflot, said on Friday it had bought eight Airbus A330 aircraft from foreign leasing companies "as part of the fulfilment of contractual obligations". More than 400 aircraft leased from Western firms,...