HOUSTON, Jan. 25 (Xinhua) — The American Petroleum Institute (API) on Tuesday reported a decrease of 872,000 barrels of crude oil in U.S. inventories for the week ending Jan. 21. Analysts expected a decrease of about 400,000 barrels for this week. The API reported a drop of 1.404 million barrels in the previous week. Oil […]
WASHINGTON – Following the worst week for U.S. stocks since the early days of the coronavirus pandemic, market volatility continued Monday – partly due to worries about Russian military movements near Ukraine. The Dow Jones Industrial Average closed up 100 points after six consecutive days of losses. For most of Monday’s session, it appeared there […]
Bitcoin’s past performance suggests the asset class is less like gold and more like stocks. In prior stock market corrections, bitcoin plummeted while gold served as an effective hedge. “The correlation between bitcoin and high-growth benchmark ARKK still stands at ~60% year-to-date,” Fairlead’s Katie Stockton said in a Friday note. Sign up here for our […]
Cryptocurrency’s price plunged below $35,000 for the first time since July The world’s biggest digital asset, Bitcoin, fell as low as $34,042.78 on Saturday, marking a drop of 7.2%. It has recovered most of those losses, and was trading at $35,445 at 14:19 GMT. Other cryptocurrencies saw declines as well, with Ethereum down 12%. Solana […]
NEW YORK, Jan. 21 (Xinhua) — U.S. stocks fell sharply on Friday with the Nasdaq shedding 2.7 percent, as sell-off deepened on Wall Street. The Dow Jones Industrial Average decreased 450.52 points, or 1.3 percent, to 34,265.37. The S&P 500 fell 84.79 points, or 1.89 percent, to 4,397.94. The Nasdaq Composite Index sank 385.10 points, […]
House Speaker Nancy Pelosi says she ?trust her members? to do the right thing, on one condition Previously openly opposed to banning stock trading by members of Congress, Speaker of the House Nancy Pelosi (D-California) appeared on Thursday to change her mind. Her apparent openness to a proposal floated by two Senate Democrats, however, was […]
NEW YORK, Jan. 19 (Xinhua) — U.S. stocks fell on Wednesday with the Nasdaq closing in correction territory as tech shares extended their losses. The Dow Jones Industrial Average dropped 339.82 points, or 0.96 percent, to 35,028.65. The S&P 500 decreased 44.35 points, or 0.97 percent, to 4,532.76. The Nasdaq Composite Index dipped 166.64 points, […]
UNITED NATIONS, Jan. 18 (Xinhua) — Relief efforts following the Tonga volcano eruption face the challenge of severed communications, falling ash closing the major airport and strict anti-COVID measures, UN officials said on Tuesday. They said the casualty toll remained at three dead and an unknown number of people injured. “Needs assessments by the Tongan […]
ATLANTA, Georgia: With a business slowdown caused by a COVID-19 surge in December, Delta Air Lines lost $408 million in the final quarter of 2021. This week, Delta predicted that it will suffer one more quarterly loss before travel picks up in spring and summer. Delta CEO Ed Bastian said 8,000 employees have contracted COVID-19 […]
NEW YORK CITY, New Your: Mukesh Ambani, India’s wealthiest person, has gained a controlling stake in the Mandarin Oriental Hotel in New York City for $98.2 million. Ambani’s conglomerate, Reliance Industries, announced the acquisition of the hotel’s parent company, a Cayman Islands-based firm controlled by the Investment Corporation of Dubai, which indirectly holds a 73.4 […]
