In today’s uncertain economic climate, many people are looking for ways to hedge their retirement accounts to combat inflation. Gold IRAs allow investors to put their money into precious metals. While many people feel that their standard employer-provided 401(k) will be enough to sustain them through their golden years, more and more people are waking up to…
What Is a Gold IRA Rollover?
June 19, 2023
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Dollar Nudges Up, UK Pound Near 14-month Highs Ahead of BoE Decision
LONDON—The dollar edged higher on Monday as investors digested a slew of monetary policy decisions by central banks last week and looked ahead to a crunch decision by the Bank of England on Thursday. Currency market moves have been dominated by central bank efforts globally to curb high inflation, with the dollar index sliding to…
Oil Falls on China Growth Uncertainties
LONDON—Oil prices fell on Monday as questions over China’s economy outweighed OPEC+ output cuts and the seventh straight drop in the number of oil and gas rigs operating in the United States. Brent crude fell 17 cents, or 0.2 percent, to $76.44 a barrel by 0944 GMT while U.S. West Texas Intermediate (WTI) crude lost…
Stocks Rally Stalls, Eyes Powell Testimony for Rate Clues
June 19, 2023
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LONDON, SYDNEY—Global shares drifted on Monday, consolidating gains after hitting a 14-month high last week, as investors awaited testimony from U.S. Federal Reserve Chair Jerome Powell in markets that remain dominated by monetary policy bets. The MSCI’s broad gauge of world stocks was steady, with Wall Street markets closed for the Juneteenth holiday. In Europe,…
While Asian Stock Markets Soar, China’s Stock Market Suffers Losses
June 18, 2023
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Stock markets of several Asian countries, including Japan, South Korea, Vietnam, and India, have surged, some reaching highs that have not been seen in years. However, the Chinese stock market has faced significant challenges, struggling to escape a bear market. Financial analysts suggest that this declining performance reflects investors’ attitudes towards the future economic outlook…
‘Fastest and Most Aggressive’ Tightening Policy Could Trigger US Recession: Wells Fargo
Wells Fargo Investment Institute is predicting a recession in the United States this year as a result of the Federal Reserve’s aggressive monetary tightening policy. Wells Fargo is expecting a “global slowdown,” including a “moderate” recession in the United States this year, followed by a U.S.-led recovery in 2024, the firm’s 2023 Midyear Outlook report…
‘Big Rally’ Before ‘Big Collapse’: BofA Strategist Does Not See a Bull Market
Michael Hartnett, a strategist at the Bank of America, is warning investors that the current market rally may not last long and could be followed by a large decline. The S&P 500 has risen by over 15 percent year-to-date as of June 16. Recently, the index rose 20 percent above its low hit on Oct….
Stock Market Today: Wall Street Slips, and Its Best Week Since March Comes to a Quiet Close
NEW YORK—Wall Street closed out its best week since March with a quiet finish on Friday, and stocks drifted to modest losses. The S&P 500 fell 16.25 points, or 0.4 percent, to 4,409.59 after wobbling through the day. It still closed out a fifth straight winning week for its longest such streak since November 2021,…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 16)
June 16, 2023
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Benchmark U.S. crude oil for July delivery rose $1.16 to $71.78 a barrel Friday. Brent crude for August delivery rose 94 cents to $76.61 a barrel. Wholesale gasoline for July delivery rose 4 cents $2.68 a gallon. July heating oil rose 7 cents to $2.55 a gallon. July natural gas rose 10 cents to $2.63…
How Major US Stock Indexes Fared June 16
Wall Street closed out its best week since March on a quiet note. The S&P 500 fell 0.4 percent Friday after wobbling up and down through the day. The benchmark index still marked its fifth straight winning week, its longest such streak since November 2021. It’s also near its highest level since April 2022. The…
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