Wall Street is sinking as the strong services data caused jitters over the Fed’s direction

Service Sector Activity Increases In The US In November Tesla cuts its Shanghai factory production plan for December All S&P 500 sectors fell, with energy stocks hit hard Indices down: Dow 1.26%, S&P 1.61%, Nasdaq 1.7% (Reuters) – Major US indices fell on Monday as investors worried that better-than-expected service-sector activity could point to the … Read more

Financial instability: searching for the next market break

After a decade of low interest rates and central bank largesse, global financial markets are facing a reckoning. Spiraling inflation is met by rising interest rates, slowing central bank asset purchases and financial shocks, all of which suck liquidity, and the ability to transact without moving prices dramatically, from markets. Violent and sudden price movements … Read more

Elon Musk wants the Fed to “cut interest rates immediately” – but Jerome Powell just said that inflation is “still too high”. Here are 3 safety sectors if costs keep going up

Elon Musk wants the Fed to “cut interest rates immediately” – but Jerome Powell just said that inflation is “still too high”. Here are 3 safety sectors if costs keep going up It is hard to say how effective the US Federal Reserve’s tightening monetary policy will be in taming inflation. But one thing is … Read more

Oil production cuts are on the table before Russia sanctions

OPEC+, a group of 23 oil producing countries led by Saudi Arabia and Russia, will meet on Sunday to decide on the next phase of production policy. bloomberg | bloomberg | Getty Images Oil producers from the Organization of the Petroleum Exporting Countries and beyond may impose deeper cuts in oil production on Sunday, energy … Read more

One of us is a millionaire and the other is a care worker. The cruel division between rich and poor disgusts us alike. | Julia Davies and Wensome Hill

Julia Davis is a member of the National Millionaires Campaign Group We are both from very different worlds. One of us is a millionaire investor and the other is a care worker and union member. We have very different experiences with the economy, but we share the core belief that it is broken – and … Read more

New York and Singapore top the list of the most expensive cities in the world in 2022 | International Economy

New York was the most expensive city in the world in 2022, and shares the unwanted title with it Singaporeas rising energy prices doubled the inflation rate in all major global cities, according to the annual survey conducted by the Economic Intelligence Unit. Last year’s leader Tel Aviv slipped to third place, while Sydney crept … Read more

Corporate profits hit a record in the third quarter amid the highest inflation in 40 years

Corporate earnings in the non-financial sector hit a record $2.08 trillion in the third quarter even as 40-year-old inflation continued to put pressure on American consumers. Earnings adjusted for inventories and capital consumption rose $6.1 trillion from the second quarter to the third fiscal quarter, the Commerce Department reported Wednesday, continuing a steep recovery from … Read more