Nick Rummell
In face of inflation, Federal Reserve raises interest rates for first time since 2018
Citing massive inflation, the Federal Reserve raised interest rates Wednesday for the first time in three years while also predicting more rate hikes to come.
For Main Street and Wall Street, 2021 was a tale of two years
The past 12 months have been a mixed bag for Main Street, but for Wall Street it has been by most measures an unmitigated success.
COVID surge and dismal earnings make for Wall Street bloodbath
Two days after one of the worst routs in months, markets again tanked as coronavirus cases skyrocket and several states report hospitals nearing or over capacity.
U.S. reports unprecedented economic crash ahead of key November election
Some experts cautioned that the huge drop was expected — as will be a similarly large rise in GDP next quarter that shows business conditions improving as lockdowns ended in June and July.
Virus plunges consumer confidence into death spiral
Released monthly by the Conference Board, the report shows that confidence levels among U.S. consumers plummeted to 86.9 points, down from 118.8 last month — the largest on record in the 53 years the board has measured confidence.
Stall on small biz aid worsens sell-off; oil prices plunge to lowest price ever
Prices per barrel of the West Texas Intermediate plummeted more than 300% on Monday, reflecting the lack of storage for crude. Markets turned negative when some oil sellers reportedly began paying buyers to take oil.
Potholes in lending program leave small businesses stranded
A survey by the National Federation of Independent Businesses released Thursday found that 28% of its members that tried to apply for a loan under the PPP were unsuccessful, mostly because their banks either didn’t participate or weren’t lending to businesses that weren’t already customers.
For virus-minded investors, oil deal offers a ray of hope – and stocks climb
Investors looking to latch onto any bright spot in the darkening economy seemed laser-focused on oil prices. U.S. markets rose Monday morning on rumors of an upcoming meeting between Saudi Arabia and Russia, which have been engaged in a costly oil price war.
Market calm may give way to another week of upheaval
Leading investment firms have cautioned against too much optimism, as the exact mortality and economic ramifications of the Covid-19 pandemic remain in flux.
Minor market gains gone as pandemic fears deepen
Minor gains were once again wiped clean Wednesday as markets in the United States and abroad tumbled. At opening bell, the Dow Jones Industrial Average immediately fell more than 1,200 points, losing 6% of its value.