Author: FX
SlavkoSereda/iStock via Getty Images Saudi Arabia and its partners opened the month by shocking global oil markets with their announced production cuts, but with Brent crude sinking below $78/bbl this week, the group’s contention that the cuts were needed to prevent an oversupply looks prescient. “Those who were predicting over $100 oil did not understand how weak markets were looking,” Citi’s head of commodities research Ed Morse said. Crude swung sharply in April, surging to a 15-month high after the cuts were announced, but have since given up all their gains as oil markets have steadily deteriorated, weighed by the…
(Reuters) -A man shot dead five neighbors including an 8-year-old boy after some of them had asked him to stop shooting a semiautomatic rifle in his front yard in Cleveland, Texas, because it was keeping their baby awake, police said on Saturday. Police were still looking for the suspect, who used an AR-15-style rifle in the shooting late inside the neighbors’ home on Friday, San Jacinto County Sheriff Greg Capers said. Sheriffs deputies were joined by FBI agents as they continued searching for the suspect, Francisco Oropeza, 38, in a nearby wooded area 18 hours after the attack, Capers said.…
sitox With the first trading day in May coming on Monday, many pharmaceutical companies will be hoping their returns fare better than they did in April. The iShares U.S. Pharmaceuticals ETF (IHE) returned a paltry 1.6% in April. The ETF’s top two holdings are Johnson & Johnson (NYSE:JNJ) and Merck (NYSE:MRK), which account for, respectively, 23.6% and 20.7% of the fund. The best performing US large pharma or biotech in the month was Eli Lilly (LLY), turning in an impressive 11.3% return. Despite a Q1 2023 bottom line miss, the pharma was buoyed by weight loss data for its diabetes…
MON: South Korean Import/Export Growth (Apr), US S&P Global Manufacturing PMI Final (Apr), US ISM Manufacturing PMI (Apr), European Labour Day Holiday, UK Early May Bank HolidayTUE: RBA Announcement, South Korean CPI (Apr), German Retail Sales (Mar), EZ Flash CPI (Apr), US Durable Goods R (Mar), New Zealand Jobs (Q1)WED: FOMC Announcement, RBNZ FSR, CNB Announcement, BCB Announcement, Japan Constitution Day Holiday, EZ Unemployment (Mar), US ADP National Employment (Apr), US S&P Global Services and Composite PMI Final (Apr), US ISM Services PMI (Apr)THU: ECB Announcement, Norges Announcement, Japan Greenery Day Holiday, Australian Trade Balance (Mar), Chinese Caixin Manufacturing PMI…
The US FDIC is holding a auction of the assets of First Republic Bank this weekend, according to a Reuters report. There are roughly six bidders for the assets, including a bid from JPMorgan.The report says bidders were asked for non-binding bids Friday and will be studying FRC’s books over the weekend.A deal is expected before Asian markets open.In all likelihood a wind down of the bank will allow markets to move on but there’s also the risk that it sparks fears elsewhere or triggers trouble at another bank. Source link
GBP/USD and EUR/GBP – Prices, Charts, and AnalysisECB and Fed are expected to hike interest rates next week.Little high-impact data in the UK next week will leave Sterling vulnerable. Recommended by Nick Cawley Get Your Free GBP Forecast The British Pound is ending the week on a positive note with cable back above 1.2500 and with EUR/GBP testing support at 0.8800. Both pairs however will come under pressure next week when the Federal Reserve (Fed) and the European Central Bank (ECB) announce their latest monetary policy decisions on Wednesday and Thursday respectively. Both are seen lifting interest rates higher but…
As cryptocurrencies continue to become a bigger part of the global economy, more and more governments are exploring ways to regulate the industry and construct rules for firms operating in the space. There have been some significant regulatory developments in recent weeks, with the European Parliament approving the Markets in Crypto-Assets (MiCA) regulations on April 20, Ukraine announcing it would adopt the same set of rules, and South Korea making progress with its proposed regulations. Countries or regions with clear regulationsCountries that are hostile toward cryptoCountries that lack a clear regulatory frameworkContinue Reading on Coin Telegraph Source link
mesh cube For the week ending April 28, the Industrial Select Sector (XLI) fell (-0.61%) and was among the five, out of the 11 S&P 500 sectors, which closed the week in red. The SPDR S&P 500 Trust ETF (SPY) gained (+0.90%) amid the First Republic Bank crisis and a busy earnings week. The coming week will see a focus on the Fed meet, where a 25 basis point hike is expected. The top five gainers in the industrial sector (stocks with a market cap of over $2B) all gained more than +11% each this week. YTD, all these 5…
Mid Penn Bancorp declares $0.20 dividend Source link
© Reuters. FILE PHOTO: A service member of the Russian peacekeeping troops stands next to a tank near the border with Armenia, following the signing of a deal to end the military conflict between Azerbaijan and ethnic Armenian forces, in the region of Nagorno-Karaba MOSCOW (Reuters) – Armenia and Azerbaijan will hold a new round of talks in Washington on Sunday to try to normalise relations, the spokesperson of Armenia’s Foreign Ministry said on Saturday. Tensions have been rising again between the two countries over the disputed Nagorno-Karabakh region, where Russian peacekeepers were deployed in 2020 to end a war,…