The crypto bear market will continue if bitcoin confirms its recent breakdown below $20,000,...
The crypto bear market will continue if bitcoin confirms its recent breakdown below $20,000, Fairlead's Katie Stockton said. The technical analysis-based research firm said that secondary support for bitcoin stands at $13,900, and short-term momentum has shifted negatively. Dig into the numbers.
Everything from mortgage rates to credit-card payments are now more expensive after...
Everything from mortgage rates to credit-card payments are now more expensive after the Fed made its third 75-basis-point hike in a row Wednesday, confirming that 0.75 is indeed the new 0.25, which was once the standard increment.
As rapid as the Fed has raised interest rates in 2022, policymakers could do the exact opposite in 2023, JPMorgan's quant guru, Marko Kolanovic, wrote in a note this week.
The U.S. Energy Information Administration reported a crude oil inventory build of 1.1 million barrels for the week to September 16.
For the previous week, the EIA had estimated an inventory build of a considerable 8.8 million barrels. A day before this week’s EIA report, the American Petroleum Institute estimated a crude oil stock build of just over 1 million barrels, with builds estimated in fuels as well.
The EIA reported a build of 1.6 million barrels for gasoline inventories, estimating production at some 9.5 million bpd last week. This is compared with an inventory draw of 1.8 million barrels for the previous week, and a production rate of 9.5 million bpd.
Benchmark U.S. crude oil for October delivery fell $1.28 to $84.45 a barrel Tuesday. Brent crudefor November delivery fell $1.38 to $90.62 a barrel.
Wholesale gasolinefor October delivery fell 1 cent to $2.45 a gallon. October heating oilrose 6 cents to $3.37 a gallon. October natural gas fell 3 cents to $7.72 per 1,000 cubic feet.
Dow drops over 500 points as stocks end sharply lower after Fed rate hike
Stocks took a sharp turn lower to end a choppy session Wednesday, sinking after the Federal Reserve delivered...
Stocks took a sharp turn lower to end a choppy session Wednesday, sinking after the Federal Reserve delivered a widely expected 75 basis point rate hike but also lifted its forecast for a peak in rates above market expectations. Stocks gave up initial gains following the Fed decision, then flipped between gains and losses during Fed Chair Jerome Powell's news conference, before taking a turn to new lows late in the session. The Dow Jones Industrial Average DJIA, -1.70% dropped around 522 points, or 1.7%, to end near 30,184, according to preliminary figures, while the S&P 500 SPX, -1.71% shed 1.7% to close near 3,790 and the Nasdaq Composite COMP, -1.79% declined 1.8% to finish near 11,220.
