Author: Admin
The energy market last spring was in the firm grip of panic as realization set in the oil market that space for excess crude storage was shrinking rapidly, CNN reported. Oil Stages A Smart Rebound From Negative Oil Of Last Year With the global economy battered by the pandemic, demand for oil went into a tailspin. Meanwhile, supply soared with Russia and Saudi Arabia locked in a price war at a critical time. Against the toxic backdrop, oil prices crashed well below zero for the first time in history. On April 20, 2020, US crude was down to minus $37…
With the Paycheck Protection Program set to close, live-event businesses and restaurants would soon be able to apply for new programs, The New York Times reported. Biden Administration Gears Up To Launch Two Small Businesses Relief Programs As PPP Winds Down Two new programs aimed at providing relief to small businesses are being readied, one of the months under preparation, as the Biden administration’s Paycheck Protection Program concludes. According to the Small Business Administration, it hoped it would be in a position to start taking applications, by the end of the week for a grant fund of $16 billion for…
If you are into trading cryptocurrency then you cannot afford to miss the action even on weekends, CNN reported. The unthinkable happened on Saturday night- bitcoin plunged steeply around 14% in less than an hour. The crash came after a week full of hype and hoopla in which it hit a record high of almost $64,900 last Wednesday then sinking to lows of around $51,000 but recovering to above $56,000 later. Cryptocurrency Trading – A 24X7 High Stakes Game Bitcoin has been on fire since November, logging massive gains as financial institutions and companies like Mastercard, Tesla, and BNY Mellon…
With global consumer savings up $5.4 trillion since the coronavirus hit the world, a spending boom could well boost economic growth this year, CNN reported. Consumer Savings In The Pandemic Seen To Power Strong Economic Growth According to Moody’s Analytics, households had amassed excess savings, amounting to 6% of global GDP, by the end of March. In a research note Chief economist Mark Zandi, wrote Monday that the savings were on top of what they would have been able to save with saving behavior remaining the same as in 2019, had the pandemic not occurred. The United States topped with…
Early during 2021, amateur traders started backing stocks like GameStop (GME), AMC Entertainment (AMC) and BlackBerry (BB). These gains triggered great losses for hedge funds, which sparked rumours of a fall in share prices. Reddit Gives Wall Street A Brief Scare Global hedge funds saw returns of nearly 5% in the first quarter, the best start to the year for hedge funds since 2006. Robert Sears, chief investment officer at Capital Generation Partners also acclaimed it as a good year for returns, as most hedge funds were up. These gains weren’t evenly spread of course, with many popular names holding…
From a meme to a cryptocurrency of high value, Dogecoins are the quirkiest digital assets out there. For a crypto currency which started as a joke, dogecoins in circulation are now valued at $50 billion, as the 5th most valuable cryptocurrency in the world, according to CoinMarketCap. This year alone, Dogecoins have risen more than 600%. Meme Inspired Dogecoins To Soar In Value Dogecoins prices doubled once again on Friday after Elon Musk, CEO of Tesla tweeted about the crypto assets once again, having done it quite a few times in the past as well. However, this week, Dogecoin’s rise…
Cameron Brandt, director of research at EPFR said in an interview on Friday that many investors think that short-term play in the country is ramping up versus China, along with signals that a more prudent take will be taken, especially during the second half of the year. The US Stock Funds Oversee Billions Of Dollars Into The US Stock Funds Over Its Chinese Counterparts The US stock market took a dive in March 2020 when the pandemic was still new amidst uncertainties that gripped markets regarding the effect of the Coronavirus on economic growth. During this time, China was controlling…
Ever since president Joe Biden announced a $1.9 trillion relief package for the Coronavirus last month, Wall Street has been fearing a potential inflation spike that could see prices soar. On Tuesday, the first signs started to appear. Post-Pandemic Inflation Causing Price-Hikes In Every Sector In America Consumer prices rose by 2.6% for March, as compared to the same month last year, particularly owing to a rise in energy prices. Gasoline has jumped to 22.5% over the last year in expenses, ending March. Oil prices skyrocketed during the pandemic, and did not go back to its pre-pandemic levels until January…
Major U.S. Stock indexes tied futures contracts traded lower early morning Monday, suggesting muted trading on Wall Street, Monday after hitting fresh records last week, CNBC reported. Stock Futures Dip After Dow And S&P500 Hit Fresh Records Dow futures lost 110 points, while contracts tied to the S&P 500 and Nasdaq 100 also saw mildly negative territory trading. The futures market movement came after the Dow Jones Industrial Average closed at a record level which was yet another record close as it gained nearly 300 points ending at 33,800.6. Gaining 0.8% the S&P 500 registered its third straight record close.…
Contrary to popular perception the pandemic had not hit the personal finances of Americans nearly as hard as had been feared and not a few like Megan McClelland had seen a steady improvement in their finances and credit, a year down the line, USA Today reported. Pandemic Motivated Americans To Savvy Upon Personal Finances McClelland, 35, said at first it seemed like doom and gloom, but now she felt like she finally had more financial security. McClelland, a Petaluma, California-based high school counselor, was servicing a student loan debt after finishing college and grad school while working several jobs. More…