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Stocks suffer steepest weekly fall since onset of pandemic
Shares in Asia followed Wall Street lower after the UK and Switzerland raised interest rates, adding to concerns that tighter monetary policies from central banks could undercut a global economic recovery. Japan’s benchmark Topix index and Australia’s S&P/ASX 200 both shed 2 per cent, while South Korea’s Kospi fell 1.7 per cent. China’s CSI 300…
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Tether’s USDT market cap dips below $70B for an 8-month low
Tether (USDT), the biggest stablecoin and the third largest digital currency by market capitalization, continues losing its market value amid the current market downturn. On June 16, USDT’s market cap dropped below $70 billion for the first time since October 2021. The drop followed a cascade of repeated declines shortly after the USDT market value…
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Stocks making the biggest moves premarket: Jabil, Commercial Metals, Tesla and more
In this article KLAC WBD CMC TSLA TWTR JBL Check out the companies making headlines before the bell: Jabil (JBL) – The contract electronics manufacturer saw its stock rise 1.2% in premarket trading after beating top and bottom-line estimates for its latest quarter. Jabil earned an adjusted $1.72 per share, 10 cents above estimates, and…
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$35-Million Argentina Wine Estate Produces 600,000 Bottles Annually
The province of Mendoza is at the heart of Argentina’s viticulture. Centrally located along the country’s western border, it is separated from Chile by the Andes Mountains. The bucolic region produces fruit, vegetables and honey but is known worldwide for its vineyards. Argentina is among the leading wine producing countries in the world – joining…
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China’s property troubles have pushed one debt indicator above levels seen in the financial crisis
Fixed asset investment data for the first five months of 2022 showed real estate investment declined at a greater scale than it did during the first four months of the year. Pictured here on May 16 is a development in Huai’an City in Jiangsu province in east China. CFOTO | Future Publishing | Getty Images…
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Finblox withdrawal restrictions trigger concerns from the community
In a tweet, Finblox announced that the firm is assessing the effects of 3AC’s situation on its liquidity. While the firm does this, it highlighted that it paused its reward distribution for all of its users and lowered its monthly withdrawal limit to 1,500 USD. Many of the platform’s users were disappointed with the news,…
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Loop makes moves in transportation and housing sectors and grows in Texas
Chicago-based Loop Capital Markets LLC has hired two senior transportation and housing sector managers away from Wall Street competitors and put more banking boots on the ground in Texas with three recent hires. Ira Smelkinson started in the minority-owned firm’s New York office June 1 as a managing director and head of a now-four member…
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How to Play Oil’s Surge with ETFs
Here is what investors need to know before investing in Oil ETFs. (USO, DBO, USL)
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Munis little changed, Refinitiv Lipper’s $5.6B outflows, highest of 2022
Municipals were little changed on the day while other markets continued to react to the Fed rate hike as U.S. Treasuries were stronger and equities sold off. Refinitiv Lipper reported $5.6 billion of outflows, the highest figure of outflows in 2022, as Monday’s massive selloff contributed to more losses for municipals. That figure is up…
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US stocks sink after UK and Switzerland follow Fed in raising rates
Stock markets and eurozone bond prices dropped on Thursday after Switzerland delivered an unexpected interest rate rise, following a sharp boost to borrowing costs by the US Federal Reserve. Europe’s regional Stoxx 600 share index, which rallied on Wednesday after the European Central Bank promised a new mechanism to support weaker eurozone nations from rising…
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Stocks making the biggest moves midday: Moderna, Robinhood, Snowflake and more
In this article SG HOOD MRNA The Moderna Covid-19 vaccine awaits administration at a vaccination clinic in Los Angeles, California on December 15, 2021. Frederic J. Brown | AFP | Getty Images Here are the company’s making headlines in midday trading: Moderna — The biotech stock jumped 7% after a Food and Drug Administration committee…
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Connecticut Estate Asking $18 Million Offers Sea Air And NYC Proximity
The list of reasons to want to live in Fairfield, Connecticut, is at least five miles long. For starters, that’s the number of miles of beaches the town has on Long Island Sound. Home to the quaint and historic Southport Harbor at the mouth of the Mill River, Fairfield is also just slightly more than…
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Millennial millionaires are delaying home, car purchases due to inflation
A waterfront mansion on Star Island, Florida. Jeff Greenberg | UIG | Getty Images Millennial millionaires are temporarily shelving major purchases as interest rates and inflation rise, according to CNBC’s Millionaire Survey. Nearly half of millennial millionaires say higher borrowing costs are causing them to delay buying a car, and 44% say higher interest rates…
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Treasury Minister of El Salvador Dismisses Bitcoin Investment Losses, Calls Media Reports Biased
Alejandro Zelaya, the treasury minister of El Salvador, called out the critics of the investments that his country, through the action of President Nayib Bukele, has made in bitcoin. Zelaya stated that there had not been any losses because the bitcoin purchased — around 2,300 BTC — had not been sold. He also qualified the…
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Munis sit on sidelines while USTs rally post-Fed rate hike
Municipals took a backseat as the Federal Open Market Committee announced its decision to implement a three-quarter point rate hike while U.S. Treasuries rallied into late afternoon following the news. Equities rallied. The move, prompted partly by hotter-than-expected inflation data Friday, is the largest rate hike since 1994. “Investors appear encouraged that the FOMC is…
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Option Trading Strategy: Setting Up a Double Calendar
In this video I want to share with you how to trade a double calendar or at least that one up so that way you can now position it yourself on your own stock trade. Now the double calendar is very similar to a single calendar but it is two calendars rather than one so…
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Puerto Rico governor orders gas tax moratorium
Puerto Rico Gov. Pedro Pierluisi on Tuesday ordered a 45-day moratorium on a diesel and gasoline tax, which could trim $25 million that would normally go to the general fund. “With this measure we seek to relieve the people and the economic impact on our families due to the increase in fuel prices as a…
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Fed raises benchmark rate by 0.75 percentage point to tame inflation
The Federal Reserve is set to embrace an increasingly aggressive approach to monetary policy tightening as it confronts the highest inflation in four decades. During its two-day policy meeting, officials on the Federal Open Market Committee have been actively debating the merits of implementing the first 0.75 percentage point increase since 1994. An adjustment of…
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NEXO price drops 40% in three days on contagion fears from ‘insolvent’ crypto fund
The price of Nexo (NEXO) continued to fall on June 15 as crypto lending firms continue to be shaken by the falling cryptocurrency market. Meanwhile, Nexo has denied rumors of exposure to Three Arrows Capital (3AC), a Dubai-based crypto fund facing insolvency risks. NEXO price suffers on DeFi contagion fears NEXO, which serves as a…
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Goldman Sachs CEO David Solomon’s advice to summer interns: ‘Be an entrepreneur’
In this article GS David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Internships have begun at Goldman Sachs‘ offices in the U.S. this week, according to the global investment bank. Roughly 3,700 people won a coveted spot in the company’s summer internship…
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