Economy News

Global economy, politics, stock markets, gold, oil and more.

Top Dow Jones Stock Picks For 2024

For over 128 years, the Dow Jones Industrial Average has been Wall Street’s premier health barometer.

11.07.2024 22:00 1 min. read Alexander Stefanov

BRICS: Alliance Shift to Gold Signals Dollar Decline

BRICS and other developing countries are ramping up their gold purchases while decreasing US dollar holdings, reports the World Gold Council.

12.07.2024 10:30 1 min. read Alexander Stefanov

US National Debt Poses an Economic Threat

Recent Treasury Department data reveals a rise from $33.990 trillion on January 2nd to $34.866 trillion by July 2nd, marking a staggering $876 billion surge in just six months.

09.07.2024 9:30 1 min. read Alexander Stefanov

High-Risk AI Stocks: A Warning Signal for Investors

S&P 500 is continuing its surge, riding the wave of the AI boom. However, not all AI stocks are good buy at this moment. Here are two of them, which you should potentially reconsider.

12.07.2024 21:30 1 min. read Alexander Stefanov

40 Banks in China Facing Bankruptcy – Here’s Why

China is witnessing a surge in bank failures, driven by a declining property market and poor risk management.

13.07.2024 7:00 1 min. read Alexander Stefanov

Oil Prices Steady Amid Storm Threat and Summer Demand

Oil prices held steady on Monday as traders monitored hurricane Beryl’s potential impact on Gulf of Mexico production and noted robust summer demand signals.

08.07.2024 13:00 1 min. read Alexander Stefanov

Coinbase CEO Brian Armstrong Sells $5 Million in Shares

In a recent move, Coinbase CEO Brian Armstrong has sold nearly $5 million worth of COIN shares, potentially influencing the stock’s decline.

13.07.2024 10:00 1 min. read Alexander Stefanov

Nvidia: Shifting Investment Strategies Amid AI Dominance

Nvidia, renowned for its AI chips, saw its market capitalization exceed $3 trillion in the second quarter, reflecting the robust confidence Wall Street places in artificial intelligence.

08.07.2024 10:00 1 min. read Alexander Stefanov

Russia’s Economy Surges in 2024 Despite Global Pressures

In 2024, Russia’s economy shows robust growth, surpassing expectations with a 5% GDP increase in the first five months.

13.07.2024 18:00 1 min. read Alexander Stefanov

Dow Jones Nears Record High as Stocks Rally

Stocks rallied broadly on Friday, with significant gains seen across the Dow, S&P, and Nasdaq indexes.

13.07.2024 20:00 1 min. read Alexander Stefanov

Ark Invest Trims Coinbase Holdings Before Q2 Report

Cathie Wood’s Ark Invest sold 2,046 Coinbase shares worth about $450,000 before the exchange’s Q2 earnings report.

14.07.2024 8:30 1 min. read Alexander Stefanov

US Senator Warns Sanctions Threaten Dollar’s Global Dominance

U.S. Treasury Secretary Janet Yellen has attributed the potential decline of the U.S. dollar to the country’s frequent use of sanctions in foreign policy.

14.07.2024 13:00 1 min. read Alexander Stefanov

Major U.S. Banks Struggle with Credit Card Debts

JPMorgan Chase and Wells Fargo are grappling with significant credit card debt issues. JPMorgan has over $500 million in bad mortgage debt despite making a $13.1 billion profit.

15.07.2024 7:30 1 min. read Alexander Stefanov

Fed Will Cut Rates This Year, According to Bloomberg Analyst

Bloomberg analyst Mike McGlone anticipates significant developments at the Federal Reserve, foreseeing potential interest rate cuts in response to recent shifts in US equities.

15.07.2024 8:30 2 min. read Alexander Stefanov

Nvidia Faces Potential Downturn Amid Technical Analysis Signals

Nvidia, a leading semiconductor company, is showing signs of a significant downturn according to recent technical analysis.

15.07.2024 9:30 1 min. read Alexander Stefanov

BREAKING: FED Chair Gives His Most Anticipated Interview on Interest Rates

Federal Reserve chair Jerome Powell is currently giving his most anticipated interview at the Economic Club in Washington with David Rubenstein.

15.07.2024 19:51 2 min. read Alexander Stefanov

New European Governments Face Fiscal Challenges

Newly elected European governments face tough financial situations, tasked with implementing change despite limited resources.

08.07.2024 6:00 2 min. read Alexander Stefanov

Jerome Powell Issues a Warning on US Debt Crisis

Fed Chair Jerome Powell recently commented on the US national debt in a live interview with David Rubenstein, Co-Chairman of Carlyle Group.

15.07.2024 20:45 2 min. read Alexander Stefanov

Company Behind Google Set For a $23 Billion Acquisition Deal

Alphabet Inc., Google’s parent company, is reportedly nearing its biggest acquisition yet, according to the Wall Street Journal.

15.07.2024 21:00 1 min. read Alexander Stefanov

Jerome Powell Commented on Future Rate Cuts – Here is What He Said

Jerome Powell started his recent interview with David Rubenstein by saying he won’t give any hints on potential rate cuts or hikes.

15.07.2024 21:15 2 min. read Alexander Stefanov

BRICS: The Dollar Has Collapsed 25% Since 2020

The United States is experiencing significant geopolitical turmoil and struggling with inflationary pressures. Escalating interest rates have led to an unsustainable economic model, exacerbated by de-dollarization efforts within the BRICS countries, which have resulted in a marked depreciation of the US dollar over the past four years.

28.03.2024 20:00 2 min. read Kosta Gushterov

Here is Why S&P 500 is Set to Explode by 2030

Fundstrat’s Tom Lee has made a bold forecast for the S&P 500, projecting it to nearly triple to 15,000 by the end of the decade.

16.07.2024 12:00 2 min. read Alexander Stefanov

BRICS: An Important Announcement is Expected, Which Could Be a Problem for the Dollar

A financial expert predicts a major announcement that could have a huge impact on the US dollar. In fact, the BRICS alliance is expected to accelerate its de-dollarization efforts at the upcoming event.

30.05.2024 10:30 1 min. read Kosta Gushterov

Serious Problems for the US Banking System – What We Need to Know

The latest data from the Federal Deposit Insurance Corporation (FDIC) shows a worrying trend in the US banking sector, as unrealized losses continue to rise, reaching over $500 billion.

03.06.2024 9:30 2 min. read Alexander Stefanov

BRICS: This is Why Gold Will Replace the Dollar, According to an Expert

James Hickman, founder of Sovereign Man, said that gold could soon displace the US dollar, citing developing countries and the BRICS that consider holding the US dollar in reserves risky.

08.06.2024 15:00 1 min. read Alexander Stefanov

Oil Prices Fall Due to Stronger Dollar

Oil prices fell for a third straight day on concerns of weak demand from China. In addition, a stronger dollar and tepid capital market sentiment contributed to the downward trend.

16.07.2024 13:56 1 min. read Alexander Stefanov

59 Countries Are Willing to Join BRICS in 2024

The BRICS Summit will be held in Kazan, Russia in October 2024. It will be the 16th such meeting and will include four new member states: the United Arab Emirates, Egypt, Iran and Ethiopia.

12.06.2024 9:14 2 min. read Alexander Stefanov

US Recession is Becoming More Likely With Each Passing Month

A number of economic indicators associated with forecasting recessions are currently reporting warning signals.

20.06.2024 9:30 1 min. read Alexander Stefanov

How Walmart Can Help Predict a US Recession

Given the unreliability of many traditional recession indicators in recent years, investors may be looking for a new one.

20.06.2024 11:00 3 min. read Kosta Gushterov

BRICS: Developing Countries Unite to Fight The Dollar

The BRICS alliance is advancing its de-dollarization agenda, bringing together local leaders, municipal leaders and trade unions from over 21 developing countries.

23.06.2024 19:00 1 min. read Kosta Gushterov

19 Countries Advance CBDC Tests, According to IMF

The International Monetary Fund (IMF) has found that 19 countries, including the United Arab Emirates (UAE), are in an advanced phase of testing central bank digital currency (CBDC).

24.06.2024 8:30 1 min. read Kosta Gushterov

Saudi Arabia Could Shift Focus to Chinese Yuans Instead of Dollars for Oil Deals

In a significant shift for the BRICS alliance, Saudi Arabia is reportedly considering trading oil in China’s yuan instead of the US dollar.

25.06.2024 9:00 2 min. read Kosta Gushterov

BRICS: 7 Countries Applied For Membership Within a Week

Interest in BRICS membership is on the rise, with seven countries applying to join just one week after the recent foreign ministers’ meeting.

26.06.2024 9:00 1 min. read Kosta Gushterov

2 Tech Stocks That May be Worth the Investment

Investors are strongly attracted to technology stocks because of their potential for growth and innovation.

26.06.2024 15:30 2 min. read Alexander Stefanov

US Inflation Moving in the Right Direction, According to Atlanta Fed President

According to Atlanta Fed President Rafael Bostic, US inflation “appears to be shrinking”, which could allow the Federal Reserve (Fed) to cut interest rates later this year.

27.06.2024 22:00 1 min. read

BRICS: Russia With 50% Increase in Oil Revenues

Russia’s oil and gas revenues rose more than 50% year-on-year to $9.4 billion in June, as reported by Reuters.

28.06.2024 11:16 2 min. read Alexander Stefanov

BRICS: Neither the Alliance nor the Euro Are a Threat to the Dollar Right Now

The US dollar remains the world’s leading reserve currency, with neither the euro nor the BRICS countries significantly reducing the world’s dependence on it, according to a recent analysis by the Atlantic Council’s Geoeconomics Center.

28.06.2024 19:00 2 min. read Alexander Stefanov

BRICS: Russia Exploring Crypto For International Payments

Russia’s central bank has urged businesses to explore alternative methods for cross-border payments, including cryptocurrencies and digital assets, to mitigate the impact of Western sanctions.

04.07.2024 9:00 2 min. read Alexander Stefanov

Russia Considers Using Stablecoins for Transactions

Russia is considering legalising stablecoins for international transactions to streamline cross-border payments for its companies.

04.07.2024 14:30 2 min. read Alexander Stefanov

BRICS: Iran and Russia Push for Non-Dollar Trade Amid Sanctions

Iran and Russia are committed to reducing their dependence on the US dollar by promoting the use of their national currencies in bilateral trade, stated Mohammad Reza Farzin during a speech to Russian economic activists in St. Petersburg.

05.07.2024 9:00 1 min. read Alexander Stefanov

US Economy on Brink of Recession: Dire Warning from BCA Research

The lingering impact of the 2008-2009 Great Recession compounded by the Covid-19 downturn continues to haunt the US economy, stirring concerns about financial stability.

05.07.2024 12:00 1 min. read Alexander Stefanov

Oil Holds Near Two-Month High Amid Bullish Sentiment

Brent crude hovers around $87 per barrel, poised for its fourth consecutive weekly gain as global equities hit record highs and US inventories decline.

05.07.2024 20:30 1 min. read Alexander Stefanov

S&P 500 Price Projection: Potential 100% Growth

Ben Laidler, Bradesco BBI’s head of equity strategy, believes the bull market is in its early stages, driven by an anticipated earnings recovery and potential Fed rate cuts.

05.07.2024 22:00 1 min. read