Luxury car buyers pay more than ever as prices and loan costs rise

If you can even find a new car to buy, actually purchasing it is going to cost you. “It’s a really difficult time to buy a car,” said Jessica Caldwell, executive director of insights for Edmunds. Limited inventory due to a persistent shortage of computer chips, along with other supply-chain challenges, helped propel new car … Read more

Euro slides to 20-year low against the dollar as recession fears build

A euro currency symbol sits on display in the visitor center at the European Central Bank (ECB) building in Frankfurt, Germany. Alex Krauses | Bloomberg | Getty Images The euro fell to its lowest level in two decades on Tuesday, sliding over 1% for the session to hit $1.0283. It comes as fears of a … Read more

US, UK, Europe, Japan will be in recession over next 12 months: Nomura

Thomas Calomiris, a third generation produce vendor, weighs an onion at Eastern Market as the US struggles with rising inflation May 20, 2022, in Washington, DC. Brendan Smialowski | AFP | Getty Images Many of the world’s leading economies will fall into a recession within the next 12 months as central banks move to aggressively … Read more

Stock futures are flat after another losing week on Wall Street

Traders on the floor of the NYSE, July 1, 2022. Source: NYSE Stock futures were flat in overnight trading after the higher averages finished another losing week. Stock futures tied to the Dow Jones Industrial Average slipped 10 points or 0.03%. S&P 500 futures inched marginally higher, and Nasdaq 100 futures edged 0.19% higher. The … Read more

Stock connect, bonds, currencies and oil

SINGAPORE — Asia-Pacific markets were higher on Monday ahead of Australia and Malaysia central bank decisions this week. The Nikkei 225 in Japan rose 1.09%, while the Topix index climbed 1.38%. Over in Australia, the S&P/ASX 200 advanced 1.78%. South Korea’s Kospi reversed earlier losses to trade 0.28% higher, and the Kosdaq was up 0.36%. … Read more

Some experts say a recession is coming. How to prepare your portfolio

Phonlamaiphoto | istock | Getty Images Months of stock market volatility, surging inflation and rising interest rates have left many investors wondering if a recession is coming. The stock market tumbled again on Thursday, with the S&P 500 capping its worst six-month start to a year since 1970. In all, it’s down more than 20% … Read more

Euro zone inflation 8.6% in June, ECB to hike rates for first time in 11 years

The ECB has announced it will be hiking rates in July and September to counter record inflation. Daniel Roland | Afp | Getty Images Euro zone inflation reached a new record high in June just ahead of the European Central Bank’s first rate increase in 11 years. Headline inflation came in at 8.6% (year-on-year) for … Read more

How to tell if the bear market is bottoming, according to the pros

After the worst first-half for US stocks in decades, a major rebound last week prompted some optimism that the worst of the sell-off may be behind us — but not everyone’s convinced. It’s perhaps unsurprising that market watchers are reluctant to call the bottom on the brutal selloff, but there’s one indicator that many strategists … Read more

ECB Lagarde plays down recession risks at Sintra Forum

European Central Bank President Christine Lagarde said the central bank can raise rates faster, if needed. Handout | Getty ImagesNews | Getty Images European Central Bank President Christine Lagarde on Tuesday played down concerns about a recession in the euro zone, also saying her team is ready to raise rates at a faster pace — … Read more

European markets open to close, data, earnings, G-7, Ukraine

LONDON — European stocks moved higher on Monday, continuing a positive trend seen at the end of last week’s trading. The pan-European Stoxx 600 index added 0.7% in early trade, with basic resources jumping 2.9% to lead gains as all sectors and major bourses entered positive territory. The higher open on Monday comes after the … Read more