(Bloomberg) – Russian President Vladimir Putin said trade with India and China has strengthened amid Western oil sanctions in response to the invasion of Ukraine. “Russian oil supplies to China and India are growing noticeably,” Putin said in a video address to the BRICS Business Summit on Wednesday. Despite all the difficulties in the global … Read more
“We are still in an era where uncertainty is elevated and is expected to remain so for quite a while,” JoAnne Feeney, Advisors Capital Management portfolio manager, said on Bloomberg Television. “It’s risky right now in terms of the forward outlook for the global economy. Recession risk has clearly risen. ”
Across five major e-commerce platforms’ GMV, Alibaba’s market share fell by 6% in the first quarter versus the fourth, according to Bernstein analysis. Str | Afp | Getty Images BEIJING – Alibaba was once the poster child for investing in modern China. Now the e-commerce market that fueled its growth is slowing, while new players … Read more
CNBC’s Jim Cramer on Wednesday told investors that there are several things that need to happen for the market to have a “bull market within a bear market” situation. “We’re going to have rolling bottoms just like we had rolling tops. As long as you know how to identify the signs, you’ll be able to … Read more
Vladimir Putin, Russia’s President, during his annual news conference in Moscow, Russia, on Thursday, Dec. 23, 2021. Russia is continuing to build up forces close to Ukraine even as it’s preparing for security talks with the US, keeping up pressure with a deployment that could turn into a rapid invasion or a long-term threat. “/> … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, June 7, 2022. Brendan McDermid | Reuters S&P 500 futures were lower Wednesday night after major indices slipped into the red at the end of regular trading and investors weighed the likelihood of a recession after Federal Reserve chair … Read more
Former New York Fed President Bill Dudley said in a Bloomberg Opinion column Wednesday that a recession is “inevitable” within the next 12 to 18 months. An economist at the Fed, Michael Kiley, said in a paper Tuesday that the risk of a large increase in the unemployment rate is above 50% over the next … Read more
Text size A shopper walks through a grocery store in Washington. Stefani Reynolds / AFP via Getty Images What do the Federal Reserve, Janet Yellen, and Joe Biden have in common? A persistent belief that the Fed can maneuver the US economy to a soft landing and avoid a drawn-out recession. Top economist Bill Dudley, … Read more
Text size Crude prices fall as the Biden administration takes more steps to try to lower gasoline prices. Mario Tama / Getty Images Oil prices were falling Wednesday even after President Joe Biden called on Congress to temporarily suspend the federal tax on gasoline. Biden is calling on lawmakers to lift the federal tax on … Read more
Some companies should still be able to grow earnings even if the US economy falls into a recession, according to Morgan Stanley. Mike Wilson, the firm’s chief equity strategist, said in a note to clients Tuesday that the market has not priced in a recession and that analyst estimates for corporate earnings will need to … Read more