The US Federal Reserve is likely to wait at least six months before cutting interest rates this year, as inflation pressures persist, according to a Reuters poll of economists. The delay comes amid rising energy prices triggered by the ongoing conflict in the Middle East. The war, now nearing two months, has led to a
The war in Iran and the resulting closure of the Strait of Hormuz have created an acute shortage in the oil market. But, public attention has mostly been towards crude oil. However, the shortage is even more significant in jet fuel. The record high price of jet fuel—nearly $1,800 per ton in early April—reflects this
Three months ago, European investors were pouring money into the continent’s stock markets at a record pace, betting that years of underperformance were finally coming to an end. The euro was strong, defence stocks were surging, and the valuation gap with the US was too wide to ignore. Then came the Iran war, the closure
Wall Street’s main indexes opened lower on Monday, as renewed tensions between the US and Iran weighed on investor sentiment following a record-setting rally last week. The Dow Jones Industrial Average gained 28 points, while the S&P 500 slipped 0.17% and the Nasdaq-100 declined about 0.13%. The pullback comes after a strong run that pushed
Shares of Adobe rose on Monday after the company unveiled a new artificial intelligence agent platform aimed at strengthening its position in an increasingly competitive software landscape. The stock climbed about 2.49% to $250.53, outperforming a broader market decline that saw the S&P 500 fall 0.14% and the Nasdaq Composite drop 0.34%. Despite the gain,
Shares of Tesla declined more than 2% on Monday, underperforming broader US equity markets. The move came as investors turned cautious ahead of the company’s first-quarter earnings report and awaited updates on its artificial intelligence strategy. The stock’s decline came even as the Dow Jones Industrial Average slipped just 0.1%, while the S&P 500 fell
The ongoing closure of the Strait of Hormuz, following seven turbulent weeks of war, has amplified global economic uncertainty, with a new analysis suggesting that central bank actions—particularly in the short term—will dictate the immediate winners and losers in the foreign exchange markets. Thu Lan Nguyen, head of FX and commodity research at Commerzbank AG,
The RaveDAO price moved from nowhere recently and then surged to a record high, making it one of the biggest cryptocurrencies in the world. It jumped from below $1 to a peak of $28.90 on Saturday. It then plunged by 95%, erasing most of the gains made a week earlier. RaveDAO price crashed amid claims
A crypto market crash is underway today, with Bitcoin and popular altcoins being in the red. Bitcoin price dropped to $76,000 from last week’s high of $77,000. Some of the top laggards in the industry were altcoins like RaveDAO, MemeCore, LayerZero, Aave, and Siren. RaveDAO price crashed by over 95% in the last 24 hours,
US stocks surged on Friday, with major indexes hitting fresh records as investors cheered Iran’s decision to reopen the Strait of Hormuz and growing optimism around a potential end to the Middle East conflict. The Dow Jones Industrial Average jumped 869 points, or 1.8%, while the S&P 500 gained 1.2% to cross the 7,100 level