The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks gained +3.89 mmb to 1283.82 mmb in the week ended May 7. Crude oil inventory dropped -0.43 mmb (consensus: -2.82 mmb) to 484.69 mmb. Stockpile declined in 2 out of 5 PADDs with PADD 1
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A Walmart worker organizes products for Christmas season at a Walmart store in Teterboro, New Jersey. Eduardo Munoz | Reuters A little inflation might not be such a bad thing, after all. With the Labor Department’s inflation report Wednesday spooking stock markets, and traders blaming rising prices for a broad sell-off in technology shares, attention
AMC just cannot stop going up, nearly 3% on Wednesday. AMC shares trade through $10, for four straight days of gains. AMC outperforms the broader market by 6% on Wednesday. Update: Another day of gains for AMC as it notches for straight days of gains now. While everything else comes crashing down AMC rises nearly
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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Dow fell -700 points at the lows The major indices are closing at the session lows with each closing 2%+ lower on the day. The major indices have closed lower for the third consecutive day. The NASDAQ index is leading the way, and is has moved down about -8.5% from the highs so far (in 9 trading days). Decliners to
Domestic gold and silver prices remained under pressure on Wednesday amid a strengthening dollar and a rise in US bond yields, as key data that showed consumer prices logged a higher-than-expected jump in the world’s largest economy. MCX gold futures for June 4 delivery recovered all of the day’s losses to trade marginally higher at
Dollar rebound strongly in early US session after much stronger than expected consumer inflation data. But Canadian Dollar is even stronger with help from extended rebound in oil price. Sterling is the third strongest, as supported by stronger than expected GDP. On the other hand, New Zealand and Australian Dollar are under most selling pressure
Traders look on as a screen shows Federal Reserve Chairman Jerome Powell’s news conference after the U.S. Federal Reserve interest rates announcement on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 31, 2019. Brendan McDermid | Reuters Red-hot consumer inflation data for April spooked markets and raised concerns that
In this article POSH Rafael Henrique | LightRocket | Getty Images Poshmark on Wednesday reported first-quarter revenue growth of 42%, as consumers turned to the secondhand site to refresh their wardrobes without breaking the bank. “There’s a real meaningful shift as people are preparing for reopening,” said Manish Chandra, founder and Chief Executive, in a
Silver prices have been dented on US dollar strength. Bears looking for downside extension from resistances. XAG/USD is trading down nearly 2% on the day after falling from a high of $27.69 to a low of $27.01. The US dollar is back on form with US Treasury yields that climbed on Wednesday. The DXY index is
The organizer of The Robin Hood Group — which once stole 10% of all circulating ETH from under a black hat hacker’s nose — wants to change the way we think about charity. A former chemical engineer, Griff Green, 36, traded in his savings for precious metals, which he used to travel the world for
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
The dollar sees its gains trimmed across the board Of note, the pound and loonie have all but erased their earlier losses against the dollar with cable moving up to 1.4140 levels as buyers stay poised to try and target 1.4200. Meanwhile, USD/CAD is trading back under 1.2100 to a low of 1.2085. Elsewhere, EUR/USD
NEW DELHI: Gold prices were subdued on Tuesday as rising US Treasury yields countered support from a weaker dollar and investors awaited US consumer price data to gauge inflation. The deteriorating health crisis in India also led to gains. Benchmark US 10-year Treasury yields rose for a third straight day, increasing the opportunity cost of
Oil output from OPEC-10 and the nine non-OPEC producers joined the “output-cut” deal increased to 34.43M bpd in April, up from 34.26M bpd a month ago. The total compliance level slipped -0.2 ppt to 111%. Saudi Arabia’s voluntary cut of 1M bpd continued to contribute significantly to overall compliance. The compliance level would have dropped