• Business

    Oil rates slump as traders worry Fed amount hikes will hurt demand

    Oil costs dropped by almost $2 a barrel on Thursday right after one more round of remarks from Federal Reserve Chair Jerome Powell fanned worries U.S. fascination charge hikes would slow financial expansion. Brent crude futures settled at $110.05 a barrel, falling $1.69, or 1.5%. U.S. West Texas Intermediate (WTI) crude futures settled at $104.27 a barrel, down $1.92, or 1.8%. Powell mentioned the Fed`s emphasis on curbing inflation was “unconditional” and the labor marketplace was unsustainably potent, responses that stoked fears of more charge hikes. Investors have been paring positions in dangerous assets as they assess irrespective of whether inflation-preventing central financial institutions could push the globe overall economy…

  • Business

    JPMorgan sees equity stress easing in second half

    A selloff that saw US stocks sink into a bear market last week amid red-hot inflation data and a sharp Federal Reserve rate hike will likely ease in the second half, according to JPMorgan Chase & Co. “The call of peak Fed hawkishness got delayed, but it is not broken, for the second half,” strategists led by Mislav Matejka wrote in a note. “The continued adverse repricing of the Fed has understandably hurt markets, but that doesn’t need to be the template.” They also expect inflation pressures to ease in the second half. US and European stock markets have been roiled since April, with stubbornly high inflation and hawkish central…

  • Business

    fed: US stocks end mostly lower as markets await Fed rate hike

    New York: Wall Street stocks mostly fell Tuesday as markets awaited a key Federal Reserve decision and digested another report showing elevated inflation. Major indices had opened with modest gains but weakened thereafter as investors pondered the likelihood that the Fed would announce a 0.75-percentage-point interest rate increase on Wednesday instead of the telegraphed 0.5-percentage-point rise. Futures markets are currently betting on the bigger increase. “It looks like it’s going to be a 75 basis point hike,” said Quincy Krosby, chief equity strategist of LPL Financial. “We haven’t seen any sign that the Fed wanted to clarify this expectation. In fact, if the Fed stayed with a 50 basis point…