Beijing says uncontrolled re-entry of rocket debris poses little risk to anyone on the ground. Remnants of a large Chinese rocket are expected to streak through the atmosphere this weekend in an uncontrolled re-entry that Beijing says it is closely tracking but poses little risk to anyone on Earth. The Long March 5B rocket blasted … Read more
The final index reading of 50 in the monthly Surveys of Consumers was just below the preliminary reading of 50.2 released two weeks ago. The final June index — a 14.4% drop since May — represents the lowest recorded level since the university started collecting consumer sentiment data in November 1952. “Consumers across income, age, … Read more
(Kitco News) Gold’s volatility has been relatively low compared to other assets as the precious metal retains its “mild bull market” status and trades comfortably between $1,800-$1,900 an ounce. But don’t expect a gold price rally until some confidence returns to the marketplace, according to MKS PAMP. There is a shift … Read more
More than two-thirds of executives in corporate America’s top-earning C-suites say they are mulling whether to quit their jobs due to burnout, according to the results of a Deloitte survey released Wednesday. The survey found that 69% of C-suite executives said they were “seriously considering quitting for a job that better supports their well-being.” That … Read more
The US economy is more likely than not to sink into a recession this year as the Federal Reserve tightens monetary policy in its bid to cool decades-high inflation, economists warned Monday. “Disruptions in the energy and food sectors, coupled with declining consumer sentiment, are contributing to a looming economic slowdown in the US and … Read more
Given that this long summer weekend also coincides with Father’s Day, that means there will be a lot of travel going on. The Friday before Juneteenth clocked in as the most popular air travel day of 2022, according to statistics from the Transportation Security Administration. Airports haven’t been that crowded since Thanksgiving 2021. TSA officers … Read more
Given that this long summer weekend also coincides with Father’s Day, that means there will be a lot of travel going on. The Friday before Juneteenth clocked in as the most popular air travel day of 2022, according to statistics from the Transportation Security Administration. Airports haven’t been that crowded since Thanksgiving 2021. TSA officers … Read more
The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, DC, June 14, 2022. Sarah Silbiger | Reuters After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through a wicked bout of inflation and away from … Read more
(Kitco News) Gold surprised this week with its resilience and steadiness after an oversized 75-basis-point hike from the Federal Reserve and massive volatility across many markets. But analysts don’t see a major rally developing in gold in the short-term, and they are not even ruling out a move back to $1,800. … Read more
The Federal Reserve waited too long to start fighting inflation and now runs the risk of dragging the economy into a recession, according to Bank of America’s top economist. On the heels of the central bank’s 75 basis point rate hike Wednesday, BofA global economist Ethan Harris said the Fed is being forced into such … Read more