Oil drops below $100 a barrel for first time since early May

Oil drops below $100 a barrel for first time since early May

The price of West Texas Intermediate crude tumbled by almost 10% Tuesday, falling below $98 per barrel. Brent crude oil was down by more than 10%, to below $102 per barrel. It’s the first time that WTI has been below $100 since May 11. That was also the last time Brent, which typically trades a … Read more

Tesla, Occidental Petroleum, Exxon Mobil and more

Wall Street layoffs are coming as deals boom turns to bust, insiders say

Check out the companies making headlines before the bell: Tesla (TSLA) – Tesla delivered 254,695 vehicles during the second quarter, down 17.9% from the first quarter and below what analysts had predicted. China’s Covid-19 shutdowns were a key factor in holding back production. Tesla fell 1% in premarket trading. Occidental Petroleum (OXY) – Occidental gained … Read more

Stock futures inch higher after another losing week on Wall Street

Stock futures are flat after another losing week on Wall Street

Traders on the floor of the NYSE, July 1, 2022. Source: NYSE Stock futures inched higher in overnight trading after the better averages finished another losing week. Stock futures tied to the Dow Jones Industrial Average rose 18 points or 0.06%. S&P 500 futures inched 0.18% higher, and Nasdaq 100 futures added 0.43%. The moves … Read more

Stock futures are flat after another losing week on Wall Street

Stock futures are flat after another losing week on Wall Street

Traders on the floor of the NYSE, July 1, 2022. Source: NYSE Stock futures were flat in overnight trading after the higher averages finished another losing week. Stock futures tied to the Dow Jones Industrial Average slipped 10 points or 0.03%. S&P 500 futures inched marginally higher, and Nasdaq 100 futures edged 0.19% higher. The … Read more

Turkey’s annual inflation soars to almost 79%

Turkey's annual inflation soars to almost 79%

Shoppers stroll the aisles of a bazaar in Konya, Turkey. The country is experiencing brutal inflation, with food and non-alcoholic beverage prices rising 70.3% year over year for March. Diego Cupolo | nur photo | Getty Images Inflation in Turkey rose close to 79% last month, the highest the country has seen in a quarter … Read more

Fed’s Mester backs 75 basis point hike in July if conditions remain the same

Fed’s Mester backs 75 basis point hike in July if conditions remain the same

Cleveland Fed President Loretta Mester takes part in a panel agreed to speak about the health of the US economy in New York November 18, 2015. Lucas Jackson | Reuters Federal Reserve Bank of Cleveland President Loretta Mester said Wednesday that if economic conditions remain the same when the US central bank meets to decide … Read more

Russia’s ruble is at strongest level in 7 years despite sanctions

Russia's ruble is at strongest level in 7 years despite sanctions

Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Jakub Porzycki | nur photo | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of roughly 1.3% on the previous day and its … Read more