U.S. dollar holds firm as worries about a recession weigh on the greenback. Lagarde is due to speak at the ECB forum in Sintra, Portugal, later in the day. The risk-sensitive Australian and New Zealand dollars have been left behind in last week’s global stock market bounce, while sterling was similarly becalmed. The euro won … Read more
Jim Cramer warned investors on Wednesday not to invest in digitization stocks while the potential of a recession looming. “You can’t rationalize owning them unless you believe the [Federal Reserve] will rapidly beat inflation without doing much more to harm the economy,” the “Mad Money” host added. Jim Cramer warned investors on Wednesday not to … Read more
World Bank slashes global growth forecast by nearly a third to 2.9% for 2022. Russia’s invasion of Ukraine has compounded the damage from the COVID-19 pandemic. World Bank warns that the outlook could still grow worse and that many countries now face recession. The World Bank on Tuesday cut its worldwide development conjecture by almost … Read more
The S&P 500 rose 39.25 points, or 1%, to 4,160.68, reversing a 1% drop in the morning. Stocks initially dipped on Wall Street as Target warned of reduced profit margins as it reduces prices to clear out inventory. The fragility of the economy has been on Wall Street’s mind this year, amid concerns about interest-rate … Read more
UK is many months ahead of Australia in terms of where the energy crisis is headed. Both countries experiencing increasing power costs as a result of a variety of issues ranging from the war in Ukraine to low gas stockpiles and increased demand for gas in Asia. According to Savage, smaller Australian energy retailers will … Read more
