Why rates hike

Oil prices fell about 1% in early trade on Wednesday, reversing gains from the previous session ahead of a meeting OPEC+ producers on fears of a slowdown in global growth hitting fuel demand and a firmer dollar. Brent crude futures fell 94 cents, or 0.9%, to $99.60 a barrel at 0020 GMT, wiping out the previous session's gain. West Texas Intermediate (WTI) crude futures were down 68 cents, or 0.7%, at $93.74 a barrel, after climbing 53 cents on Tuesday. The Organization of the Petroleum Exporting Countries and allies including Russia, together known as OPEC+, meet on Wednesday. OPEC+ sources told Reuters last week that the group will likely keep output unchanged in September, or raise it slightly. Analysts are expecting no change due to a weak outlook for demand as recession fears grow, and said top producer Saudi Arabia may be reluctant to beef up output at the expense of OPEC+ partner Russia, hit by sanctions due to the Ukraine conflict. Close Ahead of the … [Read more...] about Oil falls on demand worries, stronger US dollar

Oil headed for a punishing weekly loss on increasing evidence that a global economic slowdown is spurring demand destruction, with prices collapsing to the lowest level in six months. West Texas Intermediate steadied below $89 a barrel in Asia, with the US benchmark down more than 10% this week. Official data showed US gasoline consumption has softened while crude stockpiles rose. The slump came even as Saudi Arabia has boosted prices, and OPEC+ warned of scant spare capacity. After surging in the first five months of the year crude’s rally has been thrown into reverse, with losses deepening this month after falls in June and July. The sell-off, which has wiped out gains triggered by Russia’s invasion of Ukraine, will ease the inflationary pressures coursing through the global economy that have spurred central banks including the Federal Reserve to hike rates. “The market is still struggling on the back of a deteriorating demand picture in the US, with pressure on its … [Read more...] about Crude oil heads for 10% weekly collapse as slowdown hits demand

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- A + A LOS ANGELES (Aug 7): "Bullet Train," a John Wick-ian romp with Brad Pitt in the aisle seat, arrived in theaters with a $30.1 million opening weekend. That's enough to top the domestic box office chart, but it's only a so-so result given "Bullet Train's" $90 million price tag and Pitt's star power. The Sony Pictures release will need to maintain its momentum in the coming weeks as it tries to break even or turn a profit. "Bullet Train" is trying to prove that an action flick that isn't based on a comic book or a toy-line can defy the odds and resonate with audiences. But part of the issue for the film is that critics weren't on board. "Bullet Train" landed a mediocre 41% approval rating on review-aggregation website Rotten Tomatoes, with many reviewers faulting the movie for being overly derivative of the work of Guy Ritchie and Quentin Tarantino. Variety chief film critic Peter Debruge was mixed on "Bullet Train," writing that "neither the characters nor the … [Read more...] about Box office: ‘Bullet Train’ arrives with so-so $30.1 million debut, ‘Easter Sunday’ stumbles

Despite being a strong student in high school, Sydney Dodini struggled during her freshman year at Brigham Young University. She kept showing up late to lectures and found it difficult to focus during class. When she flew home in the spring, she asked her father, Aaron Dodini, a psychologist who specializes in ADHD testing, to give her a QbTest, an FDA-cleared ADHD diagnostic screening tool that can be done online. advertisement advertisement ADHD, or attention deficit/hyperactivity disorder, is one of the more common neurobehavioral disorders usually first diagnosed in childhood and which can continue into adulthood. Symptoms fall into three categories: inattention, manifesting in difficulty sustaining focus, staying on task, and staying organized; hyperactivity, including excessive fidgeting, extreme restlessness, even talking too much; and impulsivity, including difficulty with self-control, delaying gratification, and considering long-term … [Read more...] about An ADHD diagnosis can be expensive and inaccurate. This company’s test addresses both problems

Two years after the Great Office Shutdown, so to speak, remote work is growing fast. And with it comes the possibility of picking a home not because it’s close to your office, but because it’s somewhere you want to live—like by the beach, for example, where it’s sunny all year long, winter is just a dream, and rent is actually affordable. advertisement Before the pandemic, 4% of jobs were remote—but that rose to 15% by the end of 2021, and it’s slated to grow to 25% by the end of 2022, according to data from Ladders , a job search firm. Meanwhile, Google searches for remote jobs have increased by 72% as people keep dreaming of the possibilities of finally abandoning their office cubicles. To aid the search, global HR and payroll company Remote compiled a list of the best beachside locations for remote work, based on factors including average internet speed, average monthly rent, and crime rate (on a scale of 0 to 100, with 0 being the safest). Here are the … [Read more...] about Thinking of becoming a digital nomad? Set sail for these 10 best beaches for remote workers

An Iron Dome anti-missile system fires an interceptor missile as a rocket is launched from the Gaza Strip towards Israel, at the sky near the Israel-Gaza border Aug. 7, 2022. (REUTERS/Amir Cohen) GAZA/JERUSALEM — Israel and Palestinian militants have agreed to a truce in Gaza from Sunday evening as mediated by Cairo, sources said, after a weekend-long pounding of Palestinian targets by Israel triggered longer-range rocket attacks against its cities. An Egyptian security source said Israel had agreed to the proposal, while a Palestinian official familiar with Egyptian efforts said the ceasefire would go into effect at 20:00 (1700 GMT). Spokespeople for Israel and Islamic Jihad , the faction it has been fighting in Gaza since clashes erupted on Friday, did not confirm this, saying only that they were in contact with Cairo. The flare-up, recalling preludes to previous Gaza wars, has worried world powers. However, it has been relatively contained as Hamas, the governing Islamist … [Read more...] about Israel, Palestinians agree truce from Sunday evening

Representative image Gold hit a four-week high on Tuesday, as a weaker dollar and a dip in U.S. Treasury yields boosted demand for the safe-haven metal amid mounting worries over an economic slowdown. FUNDAMENTALS * Spot gold was up 0.4% at $1,778.69 per ounce, as of 0044 GMT, its highest since July 5. * U.S. gold futures gained 0.2% to $1,791.10 per ounce. * The dollar fell 0.2% to a near one-month low against its rivals, making greenback-denominated gold less expensive for other currency holders. [USD/] Close * Benchmark U.S. 10-year Treasury yields dropped to a four-month low, reducing the opportunity cost of holding non-interest bearing gold. [USD/] [US/] * Data showed U.S. manufacturing activity slowed less than expected in July, with the Institute for Supply Management's (ISM) index of national factory activity dipping to 52.8 last month, its lowest reading since June 2020. * U.S. construction spending also fell 1.1% in June, as outlays on … [Read more...] about Gold climbs four-week peak as US Treasury yields, dollar fall

Oil languished near its lowest since the start of the war in Ukraine on Friday on fears of a global recession, though stocks ignored such worries, gaining ahead of U.S. jobs data that will give another clue to the health of the world's largest economy. Benchmark Brent crude futures were up a touch at $94.23 a barrel and U.S. crude futures were also a whisker higher at $88.70 a barrel, after both closed the previous session at their lowest levels since February. Losses were partly due to data on Wednesday showing surge in U.S. inventories last week. "It's a combination of the inventory data and a bit of worries about demand. Because the market is worried about growth more than inflation - even though inflation is still a major issue - the oil price has come down," said Prashant Bhayani, chief investment officer for Asia at BNP Paribas Wealth Management. In another warning sign for the global economy, the closely watched part of the U.S. Treasury yield curve measuring the gap … [Read more...] about Oil languishes on recession fears; unconcerned stocks climb on

PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook The Q1FY23 results of Godrej Consumer Products (GCPL; CMP: Rs 854; Market capitalisation: Rs 87359 crore) were in line with Street expectations. On a 3-year CAGR (compounded annual growth rate), consolidated volumes grew by 3 percent and India volumes grew by 4 percent. India (57 percent of consolidated revenues) grew by 12 percent mainly due to pricing, while volume saw a decline of 6 percent year on year (YoY). Personal care grew by 25 percent, while home care declined by... … [Read more...] about Godrej Consumer Products: Largely pricing-led growth