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  • Nov 27, 2024

Oil Steadies in Choppy Trade Ahead of OPEC+ Meeting, US Holiday

(Bloomberg) -- Oil steadied and time spreads strengthened as OPEC+ is expected to delay a production restart, a decision that would help stave off a looming supply glut. Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldCrude struggled to find a direction in the last sessio

  • Nov 27, 2024

Oil steady after surprise rise in US gasoline stocks

(Reuters) -Oil prices were little changed on Wednesday, pressured by a large surprise build in U.S. gasoline stocks and worries about U.S. interest rate cuts next year, but prices drew support from concerns about supply eased after a ceasefire deal between Israel and Hezbollah. Crude stocks fell by 1.8 million barrels in the week ended Nov. 22, the EIA added, far exceeding analysts' expectations in a Reuters poll for a draw of 605,000 barrels.

  • Nov 27, 2024

Analysis-Black Friday: online marketing costs jump in bidding war with Temu and Shein

Heavy online marketing spending by Temu and Shein is making it more costly for other retailers and brands to reach shoppers on Black Friday, marketing and industry experts say, with both platforms bidding heavily on search keywords used by competitors. Typing a few words into a search engine is a key starting point for shoppers looking online for gifts or buying for themselves in Black Friday sales, the unofficial start of the holiday shopping season on the day after U.S. Thanksgiving. Retailers compete for their advertised products to appear high up in online search results, by bidding on keywords.

  • Nov 27, 2024

US economy holds firm in early Q4; inflation stuck above Fed's target

WASHINGTON (Reuters) -U.S. consumer spending increased slightly more than expected in October, suggesting the economy retained much of its solid growth momentum early in the fourth quarter, but progress on lowering inflation appears to have stalled in recent months. The lack of success in bringing inflation back to the Federal Reserve's 2% target, together with the prospect of higher tariffs on imported goods from the incoming Trump administration, could narrow the scope for interest rate cuts from the U.S. central bank next year. The Fed is still widely expected to deliver a third rate cut in December, with other data on Wednesday showing more unemployed people were experiencing long bouts of joblessness in mid-November.

  • Nov 27, 2024

Apple misses out on big 2024 smartphone market rebound, IDC says

(Bloomberg) -- Global smartphone sales rebounded strongly in 2024 after two successive years of decline, but Apple Inc. barely managed growth, an independent study showed, underscoring the speed with which Android-based rivals are gaining ground in China and emerging markets.Most Read from BloombergNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Italy’s Motor City, Car-Free Options Are GrowingIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes the FieldNYC's Und

  • Nov 26, 2024

3 Crypto Stocks to Buy Now: IBIT, COIN, MARA

Political changes, public company adoption, and the $100k price "magnet" are three reasons Bitcoin and Bitcoin proxies are poised to move higher into year-end. Stock Strategist Andrew Rocco divulges 3 crypto stocks to buy now.

  • Nov 26, 2024

BNP Paribas' fund arm to exclude new oil and gas bonds

BNP Paribas Asset Management will no longer invest in new bonds issued by companies involved in oil and gas exploration and production, according to a strategy update dated November. The French asset manager said its policy aimed to support oil and gas companies with their transition to sustainable energy sources, while screening out those companies which are not adapting quickly enough, according to the document. The firm will no longer buy new bonds issued by oil and gas companies, including diversified companies, but it will continue to invest in their existing debt and equity, subject to certain rules and exclusions.

  • Nov 26, 2024

US consumer price increases accelerated last month with inflation pressures resilient

Consumer price increases accelerated last month, the latest sign that inflation's steady decline over the past two years has stalled in recent months. According to the Federal Reserve's preferred inflation gauge, consumer prices rose 2.3% in October from a year earlier, the Commerce Department said Wednesday. Economists closely watch core prices because they typically provide a better read on where inflation is headed.

  • Nov 26, 2024

Is Bitcoin's Post-Election Rally Over?

Pro-crypto optimism was off-the-charts, investors were euphoric about Bitcoin's future growth potential, and a final climb over the $100,000 mark seemed like a no-brainer. While there's certainly a case to be made that Bitcoin might have gone up too far, too fast, I think there's still plenty of upside potential as we head into 2025. You don't need to be an economist to understand Bitcoin.

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