Energy News
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Nvidia’s market value crossed $3 trillion for the first time Wednesday, propelling the chipmaker above Apple to become the second-most valuable company in the world. The chipmaker, whose processors are central to powering the current artificial intelligence (AI) craze, saw its shares climb 5.16 percent Wednesday ahead of Friday’s stock split. Microsoft ...
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A debate at London city council surrounding an already pulled back curfew on gas-powered lawn and gardening equipment boiled over Tuesday afternoon. The civic works committee proposed holding a public meeting on the idea of a curfew on the use of gas-powered lawn and garden equipment from 6 p.m. to 8 a.m. The bylaw currently prohibits the use of all ...
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GDP, or gross domestic product, is all over financial news. It’s a measure of the value of all the goods and services in a country, but what does it actually mean? Well, it works as an indicator for how well or poorly a nation’s overall economy is faring. Do policies need adjusting? Are people gainfully employed? Watch to learn how GDP works and why it ...
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In the week ending June 1, the advance figure for seasonally adjusted initial claims was 229,000, an increase of 8,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 219,000 to 221,000. The 4-week moving average was 222,250, a decrease of 750 from the previous week's revised average. The previous week's ...
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With a solid US ISM services PMI print and rate cut from the Bank of Canada (BoC) helping to fuel the soft-landing narrative, the rout in WTI crude oil reversed on Wednesday, delivering a bullish technical pattern that points to the potential of further gains ahead. WTI squeezes on improved demand outlook Having plunged 10% in five sessions, marking a ...
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Nvidia’s market value crossed $3 trillion for the first time Wednesday, propelling the chipmaker above Apple to become the second-most valuable company in the world. The chipmaker, whose processors are central to powering the current artificial intelligence (AI) craze, saw its shares climb 5.16 percent Wednesday ahead of Friday’s stock split. Microsoft ...
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The European Central Bank is expected to start cutting interest rates from record highs Thursday, its first reduction in nearly five years, but volatile inflation means the path ...
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The Bank of Canada marked a major turning point in its fight against inflation on Wednesday as it lowered its key interest rate for the first time in more than four years, making ...
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Gaza's government media office said on Thursday that at least 27 people were killed and dozens injured in an Israeli attack in Nuseirat, as one of Gaza's few functioning hospitals ...
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post: BoJ's Nakamura: Japan's economy at critical juncture https://t.co/IwKcPts4Zm post: BoJ Gov Ueda: Price Expectations Must Be Around 2% For Price Target - Inflation Expectations Still Below 2% - Want To Proceed Cautiously On Interest Rates post: BOJ GOVERNOR UEDA: UNCERTAINTIES SURROUND MEASURING NEUTRAL RATE post: BOJ GOVERNOR UEDA: TO AVOID SUCH A SCENARIO, BOJ WOULD NEED TO ADJUST DEGREE OF MONETARY EASING WHICH WOULD REQUIRE RAISING SHORT-TERM POLICY TARGET post: BOJ GOVERNOR UEDA: REDUCE BOND BUYING DURING EXIT
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The Governing Council today decided to lower the three key ECB interest rates by 25 basis points. Based on an updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to moderate the degree of monetary policy restriction after nine months of holding rates steady. Since the Governing Council meeting in September 2023, inflation has fallen by more than 2.5 percentage points and the inflation outlook has improved markedly. Underlying inflation has also eased, reinforcing the signs that price pressures have weakened, and inflation expectations have declined at all horizons. Monetary policy has kept financing conditions restrictive. By dampening demand and keeping inflation expectations well anchored, this has made a major contribution to bringing inflation back down. post: #ECB CUTS DEPOSIT FACILITY RATE BY 25BPS TO 3.75%; EST. 3.75% - BBG *ECB CUTS MARGINAL LENDING FACILITY TO 4.50%; EST. 4.50% *ECB CUTS MAIN REFINANCING RATE BY 25BPS TO 4.25%; EST. 4.25% post: ECB SAYS ECB WILL CONTINUE TO REINVEST, IN FULL, PRINCIPAL PAYMENTS FROM MATURING SECURITIES PURCHASED UNDER PEPP UNTIL END OF JUNE 2024 || ECB SAYS OVER SECOND HALF OF YEAR, IT WILL REDUCE PEPP PORTFOLIO BY €7.5 BILLION PER MONTH ON AVERAGE ECB SAYS ECB INTENDS TO DISCONTINUE… post: ECB Not Pre-Committing To Any Particular Rate Path - Inflation Likely To Stay Above Target Well Into Next Year - Raises Inflation Forecasts For 2024, 2025European Central Bank cuts main interest rate by 0.25 points The European Central Bank has eased the pressure on borrowers across the eurozone after cutting its main interest rate for the first time in almost five years. The ECB reduced its deposit rate to 3.75% from a record high of 4%, putting it ahead of the US Federal Reserve and the Bank of England, which have yet to cut interest rates. Financial markets eagerly anticipated the first eurozone cut since September 2019, which will also affect the ECB’s main refinancing operations rate, which fell from 4.5% to 4.25%. City analysts had forecast the cut in borrowing costs at the ECB’s June meeting after signals that that the central bank was ready to offer more support to eurozone economies after a period of economic stagnation following the Russian invasion of Ukraine.
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Economic activity in the services sector grew in May after contracting in April for the first time since December 2022, say the nation's purchasing and supply executives in the ...
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Natural gas might be in for a reversal on its slide, as the commodity price formed an inverted head and shoulders pattern on its hourly time frame. Price is still testing the neckline of the formation, and a break above the resistance around $2.600 could confirm that a rally of the same height is in the cards. This might be enough to take natural gas up to ...
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video Natural gas further traces out a bull pennant trend continuation pattern on Wednesday, as it traded inside Tuesday’s trading range. This pattern is forming on support of both the 20-Day MA and 200-Day MAs. The range of the pennant is tightening as natural gas gets closer to the apex of the pattern on June 17. This means that a bullish breakout or ...
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CME Group, the world's leading derivatives marketplace, today reported its May 2024 market statistics set a new average daily volume (ADV) record of 26 million contracts for the month, up 4% from May 2023. The company's interest rate and metals products also reached May ADV records, as its deeply liquid U.S. Treasury complex hit a new single-day record of ...