Morgan Stanley has cut its oil forecast for the second time in two weeks, as oil flow through the Strait of Hormuz recovered faster than expected, while strong U.S. supply and weak Chinese demand have heightened concerns over oil oversupply. Analysts including Martijn Rats noted in a report that Brent crude oil—the benchmark for spot […]
On Tuesday, SpaceX’s stock rose for the third consecutive day, surpassing Amazon in market value to become the fifth-largest publicly traded company globally. The stock closed up 4.8%, reaching a market capitalization of $2.65 trillion—about $8 billion more than Amazon. At one point during trading, the rocket and artificial intelligence company owned by Elon Musk […]
According to President Donald Trump’s latest annual financial disclosure, he expects to earn at least $1.4 billion from cryptocurrency and meme coin-related ventures by 2025. Trump reported earning over $594 million from sales of the cryptocurrency company World Liberty Financial, whose co-founders include Trump himself, his sons, and Steven W. Witkoff, a senior diplomat in […]
The yen fell to its lowest level against the dollar since 1986, a milestone that is likely to spark unease in Japan and heighten traders’ vigilance over potential market intervention by authorities. In overnight New York trading, the yen weakened below 161.95 against the dollar, breaking through the low point reached in July 2024 during […]
Richmond Federal Reserve Bank President Tom Barkin warned that inflation is too high, but he sees some early signs that price pressures may ease soon. “These numbers are too high,” Ba Jin said in an interview with Bloomberg on Sunday during the Aspen Ideas Festival in Aspen, Colorado. A report released on Thursday showed that […]
New York Federal Reserve Bank President John Williams said interest rates are in a favorable position to bring inflation back to the central bank’s target level. Williams stated in a speech prepared for an event scheduled to take place Thursday in Jersey City: “Given persistently high inflation, we must continue working to bring inflation back […]
Bitcoin has spent years trying to shed its reputation as a playground for speculative retail investors. The recent sell-off has exposed the trade-off: Wall Street brought scale and legitimacy, but the retail buyers who once helped Bitcoin absorb sharp declines have largely disappeared. On Wednesday, the original cryptocurrency dropped 5.4% to $59,023, its smallest decline […]
Jefferies said that UBS Group’s stock price could rise to its highest level since 2007, driven by the profitability of its wealth management and investment banking businesses. Analyst Joseph Dickson raised his price target to 60 Swiss francs, the highest among those tracked by Bloomberg, while maintaining a buy rating. The new target implies about […]
Japan’s large retail forex traders heeded government warnings and stopped betting on the yen’s depreciation, diverging from professional investors who continued to bet on further yen weakness. According to Bloomberg’s analysis of data from the Japan Financial Futures Association and the Tokyo Financial Exchange, individual investors’ average yen position has turned into a net long […]
Kevin Warsh’s early experience leading the Federal Reserve starkly reminded us that the U.S. central bank does not always act in the best interests of international markets when it comes to monetary policy. Wash hinted he would focus on controlling inflation. The Federal Reserve chair took a more hawkish stance than expected during his first […]