Stock markets around the world posted new highs even as rising inflation rates prompted Fed policymakers to issue hawkish remarks on upcoming rate hikes, treasury notes are on track for multi-year record yield percentages, and the war rages on in Ukraine. U.S. markets ended Tuesday on a positive note, with the Dow finishing 0.74 percent…
Market Pulse: US Shares Rise as Euro Markets Consolidate, Brent Rebounds Following Shortages
March 23, 2022
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Putin Wants ‘Unfriendly’ Countries to Pay for Russian Energy in Rubles
March 23, 2022
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Business & Economycommoditieseconomic policieseconomyEuropeInvestmentMarketsrubleRussia-Ukraine Warrussian gasVladimir PutinWorld
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Russia’s President Vladimir Putin said Wednesday that he wants “unfriendly” countries to start paying for Russian energy using rubles, a move that could strengthen the value of the weakened Russian currency. Putin made the remarks at a meeting with members of his government, according to a video of his statement provided by state-backed media outlet RT. “We…
Oil Jumps in Volatile Trade Amid CPC Pipeline Disruption
March 23, 2022
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Business & EconomycommoditiesCPCcrudeeconomic policieseconomyEuropeglobalKazakhMarketsOilpipelineRussia-Ukraine WarRussianstocksWorld
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LONDON—Oil prices rose in volatile trading on Wednesday, supported by disruption to Russian and Kazakh crude exports via the CPC pipeline. Brent crude futures were up $5.16, or 4.5 percent, at $120.64 a barrel at 1335 GMT. Prices had earlier fallen to a low of $114.45. U.S. West Texas Intermediate (WTI) crude futures rose $4.83,…
US Markets Drift Lower in Premarket as Biden Heads to Europe
NEW YORK—U.S. markets edged lower in advance of the market open Wednesday as President Joe Biden heads to Europe for a NATO meeting and EU Summit Thursday. The futures for the Dow Jones Industrials fell 0.4 percent Wednesday and the same for the S&P 500 slipped 0.5 percent. Global shares were mixed, with Asia mostly…
Gold Slips 1 Percent as Powell’s Hawkish Stance Bolsters Yields
Gold prices fell over 1 percent on Tuesday after the U.S. Federal Reserve Chair Jerome Powell hinted at big rate hikes down the year to curb soaring inflation, sending Treasury yields higher. Gold is highly sensitive to rising U.S. interest rates, as they increase the opportunity cost of holding non-yielding bullion. Spot gold XAU= was…
Europe Divided on Russian Oil and Gas Sanctions
March 22, 2022
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The European Union’s foreign ministers remained divided on Monday on whether to sanction Russia’s energy sector over its invasion of Ukraine. The EU has so far imposed four rounds of sanctions against Russia, targeting banks and oligarchs, while banning Russian aircraft from EU airspace and halting technology exports. Russian energy imports, on which Europe is…
Possibility of 50 Basis Point Fed Hike Pushes Yen and Euro Down
March 22, 2022
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LONDON—The dollar rose on Tuesday as Federal Reserve Chair Jerome Powell put the possibility of 50 basis point rate hikes on the table, while the yen fell below the psychological 120 level as the Bank of Japan reiterated its support for ultra-loose monetary policy. The euro was also under pressure, sliding to an almost one-week…
Oil Rises Towards $116 as EU Weighs Russian Ban
March 22, 2022
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LONDON -Oil rose towards $116 a barrel on Tuesday, adding to a 7 percent surge the previous day, supported by supply risks from a potential European Union oil embargo on Russia and concern about attacks on Saudi oil facilities. European Union foreign ministers are split on whether to join the United States in banning Russian…
European Stocks Edge Higher, Yields Rise as Markets Adjust Rate Expectations
March 22, 2022
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LONDON—European stock indexes opened slightly higher on Tuesday, while U.S. and European government bond yields rose to new multiyear highs as investors adjusted their expectations for rate hikes following hawkish comments from the U.S. Federal Reserve. Fed Chair Jerome Powell said that the central bank could move “more aggressively” to raise rates to fight inflation,…
Saudi Arabia Issues Warning on Global Oil Supplies
Saudi Arabia said on Monday that it claims no responsibility for a shortage in global oil supplies after an alleged attack by Yemeni rebels impacted production in the kingdom. A statement from Saudi Arabia’s government said “that it will not bear any responsibility for any shortage in oil supplies to global markets in light of…
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