MARKETS

EU Members Agree on Natural Gas Price Cap in Bid to Temper Market Volatility

European Union (EU) members agreed Monday to create a price control mechanism for natural gas traded in the bloc after months of negotiation and debate on whether a policy to protect against market volatility could limit much needed LNG supply. The majority of leadership from the 27-country EU agreed to institute what Czech Industry and …

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Dongfeng and premium brand Voyah deliver NEV innovation to the Chinese market

Chinese State-owned carmaker Dongfeng Motor’s premium marque Voyah made the global premiere of its first sedan last week, as part of its efforts to explore the burgeoning new energy vehicle market. The sedan, called Zhuiguang, which means “chasing the light” , is the first model based on Voyah’s latest platforms ESSA and SOA, which help …

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This FTX User Lost Access to $14,000 and Now Plans to Stick to Stocks

In an interview with Insider, Daniel Pemberton said the collapse of FTX has rattled his trust in companies within the crypto sector. The 26-year-old lost access to about $14,000 in his FTX account, which included bitcoin and ether. Moving forward, he plans to stick to stocks and index funds. Loading Something is loading. Thanks for …

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Millionaires predict gloomy US stock market will get much worse in 2023

Wealthy investors expect this year’s stock market nightmare to get even worse in 2023 — with most predicting a US recession, according to the results of a survey released Monday. Bearish sentiment has hit its highest level since the Great Recession, with 56% of millionaire investors predicting the broad-based S&P 500 will post a double-digit …

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San Francisco & Silicon Valley Housing Markets Puke Huge Price Drops, as Startups, Crypto, Tech, Social Media Make Total Mess

In California overall, prices dropped year-over-year, as sales collapsed, supply more than doubled. No dear, this isn’t just a seasonal dip. By Wolf Richter for WOLF STREET. San Francisco and Silicon Valley are now in the solid leadership role of the housing bust playing out in California with collapsing sales and prices heading south from …

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Bear market likely to last in 2023 as Fed raises interest rates higher

UBS managing director and senior portfolio manager Jason Katz says the longer the Fed stays hawkish, the higher the chances are for a recession. A brutal year for the US stock market is coming to an end, but investors hoping to see a brighter 2023 may be out of luck. Although hopes of moderate inflation …

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Dow Jones Extends Losing Streak As Apple Sells Off; Tesla Hits New Low Amid Elon Musk’s Twitter Poll.

Dow Jones futures were lower ahead of Tuesday’s open after the Dow Jones Industrial Average extended a losing streak Monday. Apple shares sold off for a fourth straight session and are approaching new lows, while Tesla stock hit a fresh 52-week low amid Chief Executive Elon Musk’s Twitter poll. X Late Monday, Heico (HEI) rallied …

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