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

Atlanta Fed GDP tracker shows the U.S. economy is likely in a recession

Federal Reserve Chair Jerome Powell reacts as he testifies before a Senate Banking, Housing, and Urban Affairs Committee hearing on the “Semiannual Monetary Policy Report to the Congress”, on Capitol Hill in Washington, DC, US, June 22, 2022. Elizabeth Franz | Reuters A Federal Reserve tracker of economic growth is pointing to an increased chance … Read more

RBC top analyst sees comeback

Investors who are “apathetic” or negative toward banks will change their stance in the year’s second half, according to RBC Capital Markets’ top banking analyst. Gerard Cassidy predicts bullishness will make a comeback due to strong revenue growth and optimism surrounding credit. “You can really see people coming back to [bank] the stocks. They’re under-owned,” … Read more

Consumer sentiment survey followed by the Fed shows inflation expectations ease slightly

A shopper inside a women’s clothing store in the East Village neighborhood of Des Moines, Iowa, on Saturday, Feb. 5, 2022. Katherine Gamble | Bloomberg | Getty Images A widely followed consumer sentiment survey released Friday showed inflation expectations have eased slightly. The University of Michigan’s Surveys of Consumers said consumers expect inflation to rise … Read more

Dan Yergin on oil prices falling despite tight supply, Russia tensions

Energy expert Dan Yergin said there are two reasons why oil prices have dropped in the past month despite a market that is still tight: the Fed and Russia’s war in Ukraine. Oil prices had been increasing since last year, spiking to highs after Russia launched an unprovoked war on Ukraine. But since the end … Read more

U.S. weekly jobless claims grind lower amid tight labor market

People walk past a “We’re Hiring” sign posted outside of a restaurant in Arlington, Virginia on June 3, 2022. Olivier Douliéry | AFP | Getty Images The number of Americans filing new claims for unemployment benefits edged down last week as labor market conditions remained tight, though some slowing is emerging. Initial claims for state … Read more

Treasury yields in focus as investors assess recession risk

The yield on the benchmark US 10-year Treasury note fell to its lowest level in almost two weeks on Thursday as investors continued to assess the likelihood of a recession. The yield on the 10-year Treasury note was around 4 basis points lower at 3.117%, while the yield on the 30-year Treasury bond fell 3 … Read more

European stocks open to close as recession fears continue

LONDON — European stocks were lower Thursday, as global markets see renewed volatility after a brief recovery following last week’s tumultuous trading. The pan-European Stoxx 600 dropped 0.5% by late morning, having recovered more than half of its earlier losses. Banks fell 1.5% while travel and leisure stocks gained 1.1%. In terms of individual share … Read more

5 things to know before the stock market opens Tuesday, June 21

Here are the most important news, trends and analysis that investors need to start their trading day: 1. Wall Street set to bounce after S&P 500’s worst seek since 2020 The sign for Wall Street is seen with US flags outside the New York Stock Exchange. Yuki Iwamura | Afp | Getty Images Dow futures … Read more