Wall Street

WTI falls on uncertain demand, MidEast tensions

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WTI falls on uncertain demand, MidEast tensions

The West Texas Intermediate (WTI) futures dropped to .00 due to weak demand outlook and expectations of the Federal Reserve keeping interest rates higher. The Fed’s confidence in price pressures declining to 2% has been dented by higher consumer price inflation and strong labor market data. Expectations of higher crude oil inventories and fears of oil supply tightening due to Iran’s attack on Israel have also impacted the oil price. Treasury Secretary Janet Yellen mentioned the possibility of new sanctions on Iran, which could affect their oil exports.

Morgan Stanley profit beats estimates with higher investment banking, wealth revenue

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Morgan Stanley profit beats estimates with higher investment banking, wealth revenue

Morgan Stanley’s first-quarter profit beat estimates, fueled by a resurgence in investment banking and growth in wealth management. Investment banking revenue climbed 16% and fixed-income underwriting did well. The bank reported a profit of .02 per share, surpassing analysts’ estimates. Wealth management revenue rose to .9 billion, with new assets climbing to billion. The bank’s asset management unit is aiming to double its private credit portfolio to billion in the medium term.

Geopolitics, Fed and Chinese GDP

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Geopolitics, Fed and Chinese GDP

Geopolitical tensions are causing caution among investors, with concerns about potential retaliation from Israel against Iran. The Nasdaq index fell below its 50-day SMA, indicating a possible sell-off. US economic data, including industrial production and Fed Chairman Jerome Powell’s speech, are being closely watched. Oil prices are influenced by tensions in the Middle East, with the possibility of Brent crude reaching 0. Gold prices are anchored by inflation expectations and geopolitical tensions, with potential for further increases. China’s strong GDP growth is seen as positive for gold demand. Powell’s speech and potential oil price increases could impact inflation. Gold prices are expected to continue rising, potentially reaching ,500.

US Dollar consolidates gains as focus on geopolitics

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US Dollar consolidates gains as focus on geopolitics

– Growing expectations for a delay in the Federal Reserve’s policy pivot and escalating geopolitical tensions fueled an impressive US Dollar rally last week.
– Iran launched an assault with dozens of drones in retaliation to a suspected Israeli attack on Iran’s consulate in Damascus.
– UN Secretary-General Antonio Guterres condemned Iran’s drone attacks targeting Israel as a “serious escalation” and called for restraint.
– US stock index futures trade modestly higher after a sharp decline on Wall Street.
– Gold opened higher and advanced above ,370 before retreating.
– EURUSD broke below 1.0700 and stabilized around 1.0650.
– GBPUSD lost 1.5% last week and stays below 1.2500 on Monday.
– Japanese Finance Minister Shunichi Suzuki is closely watching FX moves, particularly the broad Yen weakness.
– USDJPY closed the previous week higher and continued to push higher, trading at its highest level in over three decades near 154.00.

Corona beer maker Constellation Brands forecasts annual profit above estimates

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Corona beer maker Constellation Brands forecasts annual profit above estimates

Constellation Brands forecast annual profit above Wall Street expectations for 2025, with earnings per share expected to be in the range of .50 to .80.

European stocks gain, dollar strong as traders cut Fed easing bets

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European stocks gain, dollar strong as traders cut Fed easing bets

European stocks were on track to outperform Wall Street on Friday due to high demand for exporter shares as major currencies in the continent dropped against a strong dollar.

Biden says he expects Iran to attack Israel soon, warns: ‘Don’t’

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Biden says he expects Iran to attack Israel soon, warns: ‘Don’t’

U.S. President Joe Biden warned Iran not to attack Israel, emphasizing Washington’s commitment to defend Israel. Israel prepared for a possible attack by Iran or its proxies following an airstrike in Damascus that killed an Iranian commander. The U.S. rushed warships into position to protect Israel and American forces in the region amid concerns of a potential Iranian attack. Other countries warned their citizens against travel to the region, and the U.S. was monitoring the situation closely.

Europe turns to ECB after U.S. inflation selloff

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Europe turns to ECB after U.S. inflation selloff

Stocks and the euro were steady ahead of an European Central Bank meeting on Thursday, after stubborn U.S. inflation numbers triggered the biggest global market selloff in months and left Japan’s yen at a new 34-year low.

Business Tech Roundup: The Best Free Tax Software For Filing Your Taxes

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Business Tech Roundup: The Best Free Tax Software For Filing Your Taxes

Fact: CashApp Taxes is chosen as the best overall free tax preparation software by ZDNet.

Green Energy Firms Are Dodging Their Share of Taxes, in the Biggest Corporate Welfare Scam of All Time

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Green Energy Firms Are Dodging Their Share of Taxes, in the Biggest Corporate Welfare Scam of All Time

Some green energy companies in the US are not paying their fair share of taxes, despite receiving billions in subsidies. President Biden, who advocates for fair taxation, is in bed with these companies. The renewable energy lobby has collected over a quarter trillion dollars in subsidies over the past two decades, with little to show for it in terms of energy production. These companies are exempt from a proposed minimum corporate tax, highlighting the hypocrisy in the industry.