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Ed Yardeni, one of the biggest stock bulls on Wall Street, talks about why he's slashing his year-end forecast for the S&P 500 Index to 7,900 from 8,400. He also says the Federal Reserve could raise interest rates two more times this year. Yardeni says Iran is likely to wreak havoc and keep oil prices elevated. He speaks on "Bloomberg Surveillance." (Source: Bloomberg)
Edward Yardeni, president at Yardeni Research, points to geopolitical developments and higher-for-longer oil prices, among other factors, that led him to lower his year-end target for the S&P 500. He says his previous target of 8,400 is more likely to be reached by the middle of next year. (Source: Bloomberg)
Brent traded above US$108 on Monday after Saudi Arabia shut its East-West pipeline. Petrobras shares rose, but Vale and the banks pulled the Ibovespa down. The post Oil Prices Pass US$108 After Saudi Pipeline Halt, and Petrobras Rises While the Ibovespa Falls appeared first on The Rio Times.
Equities fell around the world after leaders of the biggest artificial-intelligence firms proposed slowing the technology’s development, while a jump in oil prices sapped risk sentiment further. Tech stocks led declines as traders fretted that efforts to rein in the advance of cutting-edge AI could dent the boom driving hundreds of billions of dollars in capital expenditure. Nasdaq 100 futures sank 1.4%. OpenAI backer SoftBank Group Corp. slid the most in three months in Japan, while South Korea’s Kospi index slumped 3.3%. In Europe, the Stoxx 600 was little changed. Hosted by Anna Edwards, Guy Johnson and Tom Mackenzie. (Source: Bloomberg)
Saudi Arabia produced 5.97 million barrels a day in August against a target above 10. This is a physical shortfall, not a risk premium on a headline. The post Oil Prices Ended the Week Near $105. Ten Million Barrels a Day Are Not Being Pumped appeared first on The Rio Times.
Investors looking to hedge as the equity rally stalls in the face of rising interest rates and oil prices are split between protecting against a fast selloff or a slow grind lower.
US futures advanced ahead of the bell on Friday as oil prices retreated and Oracle Corp.’s better-than-expected results boosted tech sector sentiment. Investors await consumer price data later this morning.
European stocks were weighed down Monday by higher oil prices and a drop in Novartis AG following the failure of a heart drug.
Emerging-market equities rallied at the start of the week as optimism over new AI models boosted heavyweight tech stocks, helping counter the drag on sentiment from higher oil prices.
Oil headed for its biggest weekly gain since July as renewed US-Iran hostilities heightened concerns about prolonged disruptions to energy flows through the Strait of Hormuz. Bloomberg's Onur Ant has the latest. (Source: Bloomberg)