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US oil just tumbled below 0 a barrel — What that says about recession fears and tight crude supplies

US oil just tumbled below $100 a barrel — What that says about recession fears and tight crude supplies

Concerns about a recession and a drop in energy demand led to a drop in US benchmark West Texas Intermediate crude-oil prices below the $100-a-barrel mark on Tuesday for the first time in months. That’s contributed to talk of a potential “buying opportunity” for traders, even as some analysts expect further price declines. “Massive speculation …

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Dow drops over 500 points after long weekend as dollar rallies to 19-year high

US stocks tumbled Tuesday morning as global economic growth fears weighed on sentiment and the dollar hit a 19-year high, as investors returned from the three-day July Fourth holiday weekend. What’s happening The Dow Jones Industrial Average DJIA dropped 566 points, or 1.8%, to 30,531. The S&P 500 SPX was down 72 points, or 1.9%, …

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With prices skirting a 17-month low, Dr Copper’s prognosis about the global economy is downbeat

Dr Copper has graded the global economy, and noted: “must do better.” The red metal is wryly considered by commodity watchers to hold a Ph.D in economics, because its use in a range of sectors, including home appliances, power generation and cars, helps it predict the trajectory of global growth. So, copper’s price initial drop …

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Crypto hedge fund Three Arrows files for US bankruptcy

Crypto hedge fund Three Arrows Capital has filed for bankruptcy under Chapter 15 of the US Bankruptcy Code, according to a court filing in the Southern District of New York on Friday. Three Arrows Capital is one of the biggest casualties of the latest so-called “crypto winter”. The digital asset ecosystem has been hit by …

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Weekend reads: What’s ahead for the stock market after that brutal first half of 2022

The first half of 2022 marked a big change for investors and consumers, as inflation reared its ugly head. It was the worst start of the year for US stocks since 1970. William Watts looks back at previous first-half bear markets and you might be surprised to see what happened afterward — every time. Meanwhile, …

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Dow climbs more than 300 points ahead of July 4 holiday, US stocks end higher after a bruising first half of 2022

US stocks closed higher Friday, shaking off earlier weakness that came after a disappointing gauge of manufacturing activity underlined fears that aggressive monetary tightening by the Federal Reserve could lead to a sharp slowdown. How did stocks trade? The Dow Jones Industrial Average DJIA rose 321.83 points, or 1%, to close at 31,097.26. The S&P …

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Bobby Bonilla Day: Here are other retired players who get huge annual payments

“Bobby Bonilla Day” was trending on Twitter on Friday as it does every year on July 1. That’s because it marks the annual date when the former New York Mets player receives $1.2 million from the team, despite being retired for over a decade. Bonilla’s agent, Dennis Gilbert, orchestrated a contract payout for the third …

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There may be another shoe to drop after Micron’s big outlook miss

Micron Technology Inc. delivered an outlook that fell far short of the consensus view, prompting questions about how the memory market will fare in a downturn. The company expects August-quarter revenue of $6.8 billion to $7.6 billion, whereas analysts tracked by FactSet had been modeling $9.15 billion. Micron’s chief executive acknowledged that “the industry demand …

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These 10 stocks in the S&P 500 have lost $4.1 trillion of investors’ money during the first half of 2022

The first half of 2022 is over today, and good riddance for investors: The S&P 500 Index has declined 21.4%. Below are two lists of the worst-performing stocks in the S&P 500 SPX this year. First, here are the 10 companies whose market capitalizations have dropped the most during 2022, based on early trading on …

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Raging US inflation is starting to cool, key price gauge signals

The numbers: A key gauge of US inflation rose 0.6% in May largely due to the higher cost of gas and food, but there were renewed signs that price pressures were starting to ease. The increase in the so-called personal-consumption price index was triple the 0.2% gain in April. But a narrower measure of inflation …

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