LONDON—Oil edged higher on Tuesday, on track for a third day of gains, supported by investor optimism that holiday travel in China would boost fuel demand and by expectations U.S. inventories would show a drop in crude stocks. Bookings in China for trips abroad during the upcoming May Day holiday point to a continued recovery…
Oil Edges up on China Demand Optimism, US Inventories in Focus
April 25, 2023
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Stocks Fall, Dollar Gains Await Earnings Litmus Test
April 25, 2023
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LONDON—Stocks fell on Tuesday, while the dollar got a lift as investors prepared for corporate earnings and macro data this week to paint a clearer picture of the health of the global economy. Last week’s U.S. bank earnings came in stronger than expected, and this week brings results for Big Tech and a number of…
Destruction of Capital and Central Banks
Commentary Inflation in assets inevitably leads to bubbles bursting. In the period when central banks were glad to see limited consumer price increases despite large increases in the money supply, they created massive inflation in assets. Throughout the quantitative easing era, bond prices spiked, equity valuations soared, house prices increased significantly above affordability levels, and…
Central Banks and the Destruction of Capital
Commentary Inflation in assets inevitably leads to bubbles bursting. In the period when central banks were glad to see limited consumer price increases despite large increases in the money supply, they created massive inflation in assets. Throughout the quantitative easing era, bond prices spiked, equity valuations soared, house prices increased significantly above affordability levels, and…
Moody’s Forcasts 10 Percent Fall in House Prices Over Next 2 Years Amid Higher Rates
April 24, 2023
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Business & Marketseconomyhome pricesinflationInvestmentMarketsreal estateU.S. housing marketUSUS NewsUS Real Estate
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The American housing market may fall even further as rising mortgage rates suppress demand and the stock of new homes begins to grow, according to Moody’s. Home prices are expected to tumble between 5 and 10 percent over the next two years, Moody’s economist, Matthew Walsh, told Yahoo Finance in an April 18 interview. Walsh noted a…
IN-DEPTH: New Climate Justice Policies Will Bring ‘Energy Poverty’ to Americans, Economists Say
April 24, 2023
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Business & Marketsclimate justiceeconomic policiesenergyEnergy policyenergy povertyEnvironmental Protection AgencyEVsinflation
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As President Joe Biden issues an executive order for all federal agencies to pursue what he calls “climate justice” and simultaneously advances regulations to force Americans to transition to wind and solar energy and electric vehicles (EVs), critics say that these same policies also foster child labor in Africa, feature enormous wealth transfers from the…
ANALYSIS: New Climate Justice Policies Will Bring ‘Energy Poverty’ to Americans, Economists Say
April 24, 2023
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Business & Marketsclimate justiceeconomic policiesenergyEnergy policyenergy povertyEnvironmental Protection AgencyEVsinflation
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News analysis As President Joe Biden issues an executive order for all federal agencies to pursue what he calls “climate justice” and simultaneously advances regulations to force Americans to transition to wind and solar energy and electric vehicles (EVs), critics say that these same policies also foster child labor in Africa, feature enormous wealth transfers…
The Growing Consumer Revolt Against Woke Ideology
April 24, 2023
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Alissa HeinerscheidAnheuser BuschBud LightBusiness & MarketsBusiness ColumnistsdeiESGinflationOpinionrecessionTikToktransgendertransgenderismU.S. economyViewpointswoke ideology
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Commentary It’s likely true: no executives at Anheuser-Busch knew what the Bud Light marketing people were planning when they decided to deploy an absurdist and deeply offensive transgender TikTok influencer to sell their beer. But soon after it happened, public disgust became rather obvious. The crisis began but for weeks, the company was in denial….
Wall Street Opens Lower as Focus Turns to Tech Earnings, Economic Data
Wall Street’s main indexes opened slightly lower on Monday as investors awaited results from megacap companies and key data that could shed light on the U.S. economy and shape the Federal Reserve’s monetary policy. The Dow Jones Industrial Average fell 3.92 points, or 0.01 percent, at the open to 33,805.04. The S&P 500 opened lower…
Dollar Gains, on Track for 2nd Straight Monthly Loss
SINGAPORE—The dollar began the last trading week of the month on a firmer footing, with traders awaiting a slew of central bank policy meetings that could signal how soon the steep increases in interest rates globally might come to an end. U.S. Federal Reserve policymakers are widely expected to raise rates by another 25 basis…
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