Well, one thing is for sure: Nothing is going to be the same in the cryptocurrency market after this year. Perhaps the most jarring example of the bearish crypto market this year has been the complete collapse of Terra (LUNA). As you can see, it’s not pretty. The coin lost 98% of its value or around $40 […]
A group led by Rob Walton, the son of Walmart Inc. founder Sam Walton, agreed to buy the National Football League’s Denver Broncos for an amount that’s likely to be the highest ever paid for a US professional sports team. Walton’s group includes his daughter Carrie and her husband, Greg Penner, along with Mellody Hobson, […]
The consortium of the world’s largest oil-producing countries agreed to boost fossil fuel production faster than expected Thursday as energy prices rise worldwide due to Russia’s drawn-out war in Ukraine. The member nations of OPEC+ announced the group would add 648,000 barrels per day in July and August, a modest acceleration of plans that were […]
With a traditional Individual Retirement Account (IRA), an account owner contributes pre-tax dollars and withdrawals during retirement are then taxable. Conversely, contributions to a Roth IRA are made with after-tax dollars and withdrawals during retirement are tax free when they’re distributed according to IRS rules. (A distribution from a Roth IRA is tax free and […]
Permian oil production growth is set to outpace OPEC heavyweight Iraq this year and next as demand for oil surges on historically tight supply, Rystad Energy research shows. Total oil output from the Permian, including both conventional and unconventional, is forecast to grow by almost 1 million barrels per day (bpd) this year, jumping from […]
Fundamental economics tells us that home price growth and income growth are interwoven. Neither can outrun the other for very long. That is what’s concerning about the pandemic’s housing boom: Over the past year, home price growth (20.6%) is four times greater than income growth (4.8%). That disconnect has more economists flirting with the most hated two words in […]
Oil soared to $110 mid-Wednesday as details on the European Union’s plans to ban Russia oil continue to be revealed and digested by the market. Up 4.75% on the day as of 1:53 p.m. EST, just under $110 per barrel, oil prices are responding to additional details on European Union plans to embargo Russian oil, […]
The Federal Reserve on Wednesday raised short-term interest rates by 0.50%, as part of an effort to tamp down the inflationary pressures weighing on Americans. The central bank suggested that it will further raise borrowing costs throughout this year as it attempts to undo its pandemic-era, easy money policies. The policy-setting Federal Open Market Committee […]
U.S. natural gas surged Tuesday to the highest level in nearly 14 years as Russia’s invasion of Ukraine wreaks havoc on global energy markets. Henry Hub prices jumped more than 9% at one point to a session high of $8.169 per million British thermal units (MMBtu) during morning trading on Wall Street, the highest level […]
Amid high inflation and rising interest rates, there are fears of a prolonged stock market downturn, and some retirees may be vulnerable without a cushion of cash, financial experts say. However, there’s also the risk of crumbling purchasing power, with annual inflation growing by 8.5% in March, the U.S. Department of Labor reported. Meanwhile, average savings account […]
