LONDON—Oil prices rose on Monday but remained under pressure from rising COVID-19 cases in Europe, raising concerns about both oversupply and weak demand. Prices of the Brent and U.S. West Texas Intermediate (WTI) crude benchmarks fell more than $1 in early trading, hitting their lowest since Oct. 1. By 1007 GMT, Brent was up 31…
Oil Prices Under Pressure From Both Supply and Demand Factors
November 22, 2021
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Futures Rise as COVID-19-Sensitive Sectors Recover
November 22, 2021
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U.S. stock index futures rose on Monday as energy and bank stocks recovered slightly from last week’s losses, although anticipation of several economic readings this week kept gains in check. Nasdaq futures hit a record high as demand for technology stocks remained strong. Heavyweights, including most FAANG majors, rose in premarket trade. Tech had largely…
Five Chinese Nationals Kidnapped in DR Congo After Attack Near Mine
November 22, 2021
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BUKAVU, Democratic Republic of Congo—Gunmen killed a policeman and kidnapped five Chinese nationals near a mine in Southeast Democratic Republic of Congo overnight, a local official and an army spokesman said on Sunday. It was not clear who carried out the attack near the village of Mukera in South Kivu Province. Relations are already strained…
5 Chinese Nationals Kidnapped in DR Congo After Attack Near Mine
November 22, 2021
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BUKAVU, Democratic Republic of Congo—Gunmen killed a policeman and kidnapped five Chinese nationals near a mine in Southeast Democratic Republic of Congo overnight, a local official and an army spokesman said on Sunday. It was not clear who carried out the attack near the village of Mukera in South Kivu Province. Relations are already strained…
Tesla’s Musk Says Model S Plaid May Come to China Around March
November 22, 2021
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Tesla Chief Executive Elon Musk said in a tweet on Monday that Model S Plaid will “probably” be coming to China around March. In September last year, Tesla introduced a new Model S Plaid, a 520-mile range sedan that can reach top speeds of up to 200 miles per hour (320 km per hour), with…
Nebraska Unemployment Rate Drops to Record Low for Any State
Nebraska’s unemployment rate edged down by 0.1 of a percentage point in October to hit the lowest rate achieved by any state since data collection began in 1976, according Nebraska Gov. Pete Ricketts and federal labor statistics data. The Bureau of Labor Statistics (BLS) said in a Nov. 19 report (pdf) that Nebraska’s unemployment rate…
Euro Slides as Austria’s Fourth National COVID-19 Lockdown Begins
November 22, 2021
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London—The euro fell on Monday to trade close to a 16-month low on growing concerns over the impact of new COVID-19 restrictions in Europe, with Austria starting a full lockdown and Germany considering following suit. Austria began its fourth lockdown, the first introduced since vaccines became widely available, shutting Christmas markets, bars, cafes, and theatres….
World Stocks Off to a Cautious Start; Euro Struggles
November 22, 2021
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LONDON—World stocks kicked off the week on a cautious note on Monday after posting a second consecutive weekly drop, and the euro struggled as traders weighed the risks of European lockdown restrictions and prospects of a faster Federal Reserve taper. Though Wall Street futures held comfortably in positive territory in early London trading, major European…
Worldwide IPOs Set New Record With $600 Billion Valuations
Global initial public offerings had the best year on record in 2021, especially those in the United States, with an abundance of liquidity and favorable monetary policies that have resulted in high company valuations and a special purpose acquisition (SPAC) boom. About 2,850 businesses and SPAC companies have raised more than $600 billion in IPOs…
Harvard Economist Claims US Economy on ‘Knife-Edge,’ but Fed Maintains Inflation Is Temporary
November 21, 2021
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A Harvard economist has said that the high rate of inflation currently plaguing the United States has positioned the economy on a “knife edge,” and it’s difficult to see how the Fed’s indecisive wait-and-see stance will bring it back on track. Kenneth Rogoff said on Fox Business’s “Mornings with Maria” that the recovery is “still…
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