Author: FX
Dikuch/iStock via Getty Images Some oil tanker stocks including Scorpio Tankers (NYSE:STNG) and Ardmore Shipping (NYSE:ASC) quadrupled last year, and as new sanctions have shifted the flow of Russian oil to more distant ports, Evercore analyst Jonathan Chappell thinks the rally “may have only just begun.” Chappell sees Russia’s invasion of Ukraine as “a generational geopolitical event that is likely to change seaborne flows of the world’s [still] most important commodity for years,” and believes the effects have “not fully played out after only 6-9 months.” The ban on Russian fuel shipments to Europe that went into effect two weeks…
Decentralized finance (DeFi) firm Platypus is working on a compensation plan for user’s losses after a flash loan attack drained nearly $8.5 million from the protocol, affecting its stablecoin dollar-peg. In a Tweet on Feb. 18, Platypus disclosed to be working on a plan to compensate the damages and asked users not to realize their losses in the protocol, saying this would make it harder for the company to manage the issue. Assets liquidation are also paused, said the protocol: Platypus USD Price Chart (USP) – 7 days. Source: CoinGeckoContinue Reading on Coin Telegraph Source link
CNBCs Steve Leesman, commenting on the markets said on Friday, “If you are not confused, you’re not paying attention”. There is a lot of confusion in the market, and even at the Fed. The CPI inflation released this week, added some added confusion as it was a little more hefty than recent months. There still is some hope, however, the the shelter component saves the day. The impact is for volatile, up and down markets. When the markets are like that, technicals help to take some of the uncertainty out of the price action.EURUSD, 7:20USDJPY, 12:20 GBPUSD, 16:00USDCHF, 18:55USDCAD, 22:05AUDUSD,…
© Reuters. FILE PHOTO: A North Korea flag flutters next to concertina wire at the North Korean embassy in Kuala Lumpur, Malaysia March 9, 2017. REUTERS/Edgar Su/File Photo SEOUL (Reuters) – North Korea said on Sunday it had tested an intercontinental ballistic missile (ICBM) the previous day, in a “sudden launching drill” aimed at confirming the weapons’ reliability, state media reported on Sunday. North Korea launched a long-range ballistic missile into the sea off Japan’s west coast on Saturday afternoon after warning of a strong response to upcoming military drills by South Korea and the United States. “The surprise ICBM…
-slav- As the impact of the COVID-19 pandemic continues to ease and the U.S. will lift the public health emergency in May, vaccine makers are in for a steep drop in sales of their COVID shots. That’s the assessment from analytics firm GlobalData, which estimates COVID vaccine sales will decline by $10B between 2021 and 2028. The market for COVID vaccines is currently dominated by Pfizer (NYSE:PFE)/BioNTech (NASDAQ:BNTX) and Moderna (NASDAQ:MRNA), which produce mRNA shots. In 2022, Pfizer (PFE) and BioNTech’s (BNTX) shot, Comirnaty, accounted for for 58% of total COVID vaccine sales. Moderna’s (MRNA) Spikevax had a 30% share,…
JLco – Julia Amaral/iStock via Getty Images It remains to be seen whether the blockbuster retail sales report for last month points to “resilience or a last hurrah” in the wake of weakening consumer demand and persistent inflation, S&P Global Market Intelligence analyst Michael Zdinak wrote in a recent note. Stronger-than-expected retail sales combined with January’s unexpectedly robust nonfarm payrolls report and surprisingly impressive manufacturing industrial production growth helps lower the odds that the economy will dip into a recession in Q1, Zdinak contended, “but let’s not get carried away.” He cited the move toward earlier holiday sales as the…
5/5 © Reuters. China’s Director of the Office of the Central Foreign Affairs Commission Wang Yi speaks during the Munich Security Conference (MSC) in Munich, Germany February 18, 2023. REUTERS/Wolfgang Rattay 2/5 (Refiling to restore first reference to Wang Yi in 2nd paragraph) By Humeyra Pamuk and Ryan Woo MUNICH/BEIJING (Reuters) – China’s top diplomat on Saturday accused the United States of violating international norms with “hysterical” behaviour, as a running spat over a suspected Chinese spy balloon bubbled to the fore at a global security conference in Munich. Hours after the comments, which further weighed on the already strained…
Funtay The S&P materials index was down -0.95% this week, and the Materials Select Sector SPDR ETF (XLB) -0.89%. News this week was dominated by economic data on inflation from the latest U.S. consumer price index report and what it meant for the future of the Federal Reserve’s path on rate hikes. The report led to a strong dollar, driving down gold futures (XAUUSD:CUR) to their lowest price in more than five weeks. Front-month Comex gold (XAUUSD:CUR) for February delivery closed -1.1% to $1,834.20, the lowest most-active contract finish since January 5, while Comex February silver (XAGUSD:CUR) settled -1.3% to…
Maxxa_Satori Equity REITs continued their downward trajectory this week, with the FTSE Nareit All Equity REITs down 1.07% from last week, as rising inflation points to another interest rate hike possibility. The Consumer Price Index rose 0.5% M/M in January, a tick higher than the 0.4% expected and a jump from the 0.1% increase in December. “There’s nothing in this CPI report to deter the Fed from staying the course of another quarter-point interest rate hike, but there will still be another round of employment and inflation reports prior to the conclusion of the Federal Reserve’s next meeting March 22,”…
2/2 © Reuters. Rescuers work at the site of destroyed high-end building as rescue operations continue, in the aftermath of a deadly earthquake in Antakya, Turkey February 16, 2023. REUTERS/Maxim Shemetov 2/2 By Clodagh Kilcoyne and Ali Kucukgocmen ANTAKYA/KAHRAMANMARAS, Turkey (Reuters) -More than 46,000 people have been killed in the earthquake that struck Turkey and Syria and the toll is expected to soar, with some 264,000 apartments in Turkey destroyed and many still missing as rescuers listen for signs of life under the rubble. As Turkey tries to manage its worst modern disaster, concerns were growing over the victims of…