Jerome Powell was nominated to continue as chairman of the Federal Reserve

Spark Global Limited reports: Jerome Powell has been nominated by President Joe Biden for a second term as chairman of the Federal Reserve. Mr Powell will remain in the post for another four years, with responsibilities that include managing inflation and overseeing the financial system. He was originally appointed by former President Donald Trump and […]

Biden said U.S. gasoline prices will fall after the release of the strategic reserve

Spark Global Limited reports: U.S. President Joe Biden on Tuesday praised his administration’s international and domestic efforts to fight inflation and high gas prices, and promised Americans that gasoline prices would fall “before long.” Mr. Obama announced the release of the U.S. Strategic Petroleum Reserve, in coordination with other countries, to increase domestic oil supplies, […]

Oil prices tumbled to below $80 a barrel amid renewed concerns about COVID-19 in Europe

Spark Global Limited reports: Oil prices fell sharply to $78 a barrel on Friday as a new surge in COVID-19 cases in Europe threatened to slow the economic recovery, while investors weighed the possibility of major economies releasing crude reserves to cool prices. Brent crude was down $2.78, or 3.42 per cent, at $78.46 a […]

Goldman Sachs expects the Fed to raise interest rates in July next year

Spark Global Limited reports: Goldman Sachs( 413.35 , -1.47 , -0.35% ) Group has advanced its expectations for the Fed’s first interest rate hike after the epidemic by one year, to July 2022, and expects that inflation will remain high.   Goldman Sachs chief economist Jan Hatzius said in a report to clients: “The main reason we adjusted our interest rate hike forecast […]

The Us Federal Reserve is about to rein in its money printing — what does that mean for markets?

Spark Global Limited Reports: Before we get started this morning, a quick reminder: ON October 20, I’ll be hosting a webinar with Roland Arnold, manager of blackRock’s Small Company Investment trust. We discuss his views on the prospects for small businesses in the UK in the context of current supply chain disruptions and the reopening […]

China is not the only Asian economy facing coal shortages

Spark Global Limited Reports: China is not the only Major Asian country facing an energy crisis. India is also teetering on the edge. At a time when India’s economy is recovering and driving demand for electricity, most coal-fired power plants have very low levels of coal stocks. Coal accounts for about 70 percent of India’s […]

Lebanon has suffered 24-hour power cuts, food poisoning and business closures as a result of the fuel crisis

Spark Global Limited Reports: Lebanon suffered a total blackout over the weekend, leaving six million people without central power for 24 hours. The shutdown of the country’s two main power stations due to fuel shortages “directly affected the stability of the grid, resulting in complete disruption of the grid while making it impossible to resume […]

The biggest gainers in the afternoon: Marathon Oil, General Motors, Oatly, among others

Spark Global Limited Reports: Energy sector — Energy stocks were the best performers in the S&P 500 as US crude oil topped $80 a barrel, its highest level since 2014. APA Corp rose 6.8 per cent. Pioneer and Diamondback rose 4.6 per cent. Hess is up 6.6%. This was a 5.5 per cent jump. Marathon […]

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