Energy News
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A former Societe Generale trader who was fired for unauthorized risky bets has lambasted the French bank for making him a “scapegoat” and failing to take its share of responsibility for missing the trades. Kavish Kataria, who was dismissed from the bank’s Delta One desk last year, said the profits and losses on his trades were reported on a daily basis to ...
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On Wednesday, March 27, 2024, jury deliberations took only two hours after a week-long trial to find that both SLB Monoline™ fracturing fluid delivery technology patents (US Patents 9,932,800 and 10,385,645), as asserted, were valid and that Nitro Fluids LLC had willfully infringed both of the patents to award SLB (Cameron International Corporation, a ...
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The past century has been a wild ride for investors. This article explores ten of the most dramatic plunges the stock market has witnessed, from the tech-fueled Dot-com bubble burst to the global economic shock of the COVID-19 pandemic. Each crash offers a unique story, exposing vulnerabilities in the system and highlighting the interconnectedness of ...
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Economic activity in the services sector contracted in April for the first time since December 2022, ending a period of 15 consecutive months of growth, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The Services PMI® registered 49.4 percent; it indicated sector expansion in 45 of the previous 47 months. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "In April, the Services PMI® registered 49.4 percent, 2 percentage points lower than March's reading of 51.4 percent. The composite index indicated contraction in April after 15 consecutive months of growth since a reading of 49 percent in December 2022, the first contraction since May 2020 (45.4 percent). The Business Activity Index registered 50.9 percent in April, which is 6.5 percentage points lower than the 57.4 percent recorded in March. The New Orders Index ex post: US ISM Services Index Apr: 49.4 (est 52.0; prev 51.4) - Prices Paid: 59.2 (est 55.0; prev 53.4) - Employment: 49.5 (est 49.0; prev 48.5) - New Orders: 52.2 (est 54.5; prev 54.4)
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Since peaking in mid-April, crude oil prices have slumped nearly 10% in the spaces of just a few weeks. The sharp drop reflects in part the removal of war risk premium that was slowly priced in as the tensions in the Middle East intensified with Iran and Israel attacking each other directly. But as tensions have eased and hopes for a ceasefire between ...
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A former Societe Generale trader who was fired for unauthorized risky bets has lambasted the French bank for making him a “scapegoat” and failing to take its share of responsibility for missing the trades. Kavish Kataria, who was dismissed from the bank’s Delta One desk last year, said the profits and losses on his trades were reported on a daily basis to ...
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Hiring likely continued at a brisk pace in April as investors look for any cracks in the labor market that could sway the Federal Reserve. Nonfarm payrolls are expected to show a ...
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Seth Harris, Burnes Center for Social Change Senior Fellow at Northeastern University, discusses the current status of the economy and the labor market ahead of the April Jobs ...
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So maybe Fed Chair Powell did get an early look at the jobs report given his dovish leaning press conference on Wednesday. Non-farm payrolls rose 175k in April versus the 240k ...
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Total nonfarm payroll employment increased by 175,000 in April, and the unemployment rate changed little at 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job ...
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Economic activity in the services sector contracted in April for the first time since December 2022, ending a period of 15 consecutive months of growth, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The Services PMI® registered 49.4 percent; it indicated sector expansion in 45 of the previous 47 months. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "In April, the Services PMI® registered 49.4 percent, 2 percentage points lower than March's reading of 51.4 percent. The composite index indicated contraction in April after 15 consecutive months of growth since a reading of 49 percent in December 2022, the first contraction since May 2020 (45.4 percent). The Business Activity Index registered 50.9 percent in April, which is 6.5 percentage points lower than the 57.4 percent recorded in March. The New Orders Index ex post: US ISM Services Index Apr: 49.4 (est 52.0; prev 51.4) - Prices Paid: 59.2 (est 55.0; prev 53.4) - Employment: 49.5 (est 49.0; prev 48.5) - New Orders: 52.2 (est 54.5; prev 54.4)
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I would like to thank the Massachusetts Bankers Association for the invitation to meet with you today.1 One of the most enjoyable and informative aspects of my role is the time I spend with bankers, listening to issues that are important to you and that affect you and your customers. Banks play a key role in supporting economic growth and lending to serve their customers and communities, which is an indispensable role in the U.S. economy. Conversations such as ours today help inform my work at the Federal Reserve Board—for my understanding of both the broader U.S. economy and the banking regulatory and supervisory environment. Before our conversation, I would like to briefly touch on the economy and monetary policy. Over the past two years, the Federal Open Market Committee (FOMC) has significantly tightened the stance of monetary policy to address high inflation. At our meeting earlier this week, the FOMC voted to continue to hold the federal funds rate target range at 5-1/4 to 5‑1/2 percent and to continue to reduce the Federal Reserve's securities holdings. post: <=USD>:*BOWMAN: STILL SEE A NUMBER OF UPSIDE INFLATION RISKS *BOWMAN: STILL EXPECT INFLATION WILL FALL WITH RATES HELD STEADY *BOWMAN: DATA SUGGESTS LOWER INFLATION IN LATE '23 WAS TEMPORARY *BOWMAN: WILL MONITOR DATA TO SEE IF SUFFICIENTLY RESTRICTIVE post: Fed’s Bowman Says She Will Remain Cautious in Her Approach to Deciding Future Changes to Policy Stance Fed’s Bowman: Recent Inflation Pickup Evident Across Many Goods and Service Categories Fed’s Bowman Expects Inflation to Remain Elevated for Some Time post: FED'S BOWMAN: THERE IS ALSO RISK OF LOOSENING FINANCIAL CONDITIONS, FISCAL STIMULUS COULD JUICE DEMAND, STALLING AND EVEN REVERSING INFLATION PROGRESS. post: FED'S BOWMAN: THE RISK IS HIGH, THAT CONSUMER DEMAND, MORE IMMIGRATION AND TIGHT LABOR MARKET COULD LEAD TO PERSISTENTLY HIGH CORE SERVICES INFLATION.
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Natural Gas: chart Natural gas rebounds as short sellers rush out of their positions. Several attempts to settle below the $2.00 level yielded no results, and some traders are ready to bet that the market has bottomed out. A move above the 50 MA at $2.20 will push natural gas towards the nearest significant resistance level, which is located in the $2.45 ...
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Since peaking in mid-April, crude oil prices have slumped nearly 10% in the spaces of just a few weeks. The sharp drop reflects in part the removal of war risk premium that was slowly priced in as the tensions in the Middle East intensified with Iran and Israel attacking each other directly. But as tensions have eased and hopes for a ceasefire between ...
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CME Group, the world's leading derivatives marketplace, today reported its April 2024 market statistics set a new average daily volume (ADV) record of 26.5 million contracts for the month, up 33% from April 2023, with double-digit growth across all asset classes. Additionally, interest rate, equity index, foreign exchange and options products set new April ...