Author: IA PressRoom

© Reuters. Investing.com — stockpiles fell last week bucking expectations for a build but inventories of fuel jumped way above forecasts, the government agency in charge of energy data said as it issued a mixed weekly report on supply-demand amid the start of peak travel for summer. The slid by 0.451 million barrels during the week to June 2, the Energy Information Administration said in its Weekly Petroleum Status Report. Analysts tracked by Investing.com had expected the EIA to cite a crude build of 1.022 million barrels for last week, after the 4.488M barrel rise reported during the week to…

Source / Sam Cooling x MerlinLightPaintingAs the aftermath of the seismic SEC v. Binance lawsuit sinks in, crypto markets are reeling at the mass enforcement move by the SEC which has raised major red flags around big projects such as BNB, SOL, MATIC, and ADA.Among the worst hit, BNB suffered a sudden -17% cascade as traders took stock of the rocky road ahead for CZ’s Binance Coin.Binance Coin Price Analysis: Can BNB Survive Gensler’s Attack?Binance coin holders are now reeling, in a desperate attempt at consolidation around the $225 support level.This leaves BNB currently trading at $258 (a -8.11% 24-hour…

Mike Pence is the most conservative candidate competing for the presidency. The former vice president wants abortion banned from the point of conception. He’s the only major candidate calling for cuts to Social Security and Medicare. And he has the most hawkish foreign policy, especially on confronting Russia.Being the most conservative used to matter in Republican presidential primaries.Not anymore.The president Mr. Pence served under, Donald J. Trump, transformed the G.O.P. electorate, making the path to a Pence presidency visible only to the truest of true believers. Mr. Pence has not really changed all that much since he was governor of…

Members of Generation X may be getting close to retirement age, but they’re apparently not giving it too much thought. Only 19% of those in that cohort, who are now about 43 to 58 years old, think they will ever fully retire in the old-fashioned way that involves leaving their jobs and enjoying their golden years, according to a new survey from Prudential Financial.  So what are the other more than 80% planning to do? They are pretty evenly split between those who say they will keep working at least part-time basically forever and those who say they haven’t thought…

China Last NightKraneShares Key News Asian equities were mixed overnight on light volumes as Hong Kong and Taiwan outperformed while Japan underperformed. Secretary of State Blinken’s rumored trip to China lifted sentiment in Asia, similar to yesterday’s positive move in US-listed China stocks. Institutional investors are underweight China due to the geopolitical narrative so any improvement in that narrative could bring them back into the space. In addition to the diplomatic green shoots, Chinese policy makers are making incremental policy support moves, including lowering the bank deposit interest rate, extending certain electric vehicle (EV) sales tax exemptions, and increasing chatter…

A $1tn US government borrowing spree is set to increase the strain on the country’s banking system as Washington returns to the markets in the aftermath of the debt ceiling fight, traders and analysts say.Following the resolution of that dispute — which had previously prevented the US from increasing its borrowing — the Treasury department will seek to rebuild its cash balance, which last week hit its lowest level since 2017. JPMorgan has estimated that Washington will need to borrow $1.1tn in short-dated Treasury bills by the end of 2023, with $850bn in net bill issuance over the next four…

© Reuters. FILE PHOTO: U.S. and Chinese flags are seen in this illustration taken, January 30, 2023. REUTERS/Dado Ruvic/Illustration/File Photo WASHINGTON (Reuters) – The United States will push back on China’s targeting of U.S. firms, which Washington considers politically motivated and unfair, U.S. Ambassador to China Nicholas Burns said at an event on Wednesday. “Looks political in nature, looks like payback,” Burns said regarding Chinese actions against U.S. companies. He added Washington was looking for “peaceful competition” with Beijing.

Pixabay / WildPixarAs Saudi Arabia presses ahead with its production cut for crude oil, in a growing showdown with slowing Western economies, meme coin markets have been envigored by the emergence of a new Saudi narrative – boosting the likes of $HABIBI and $HARAM token.$HABIBI Price Analysis: Poised to Explode?DEXtools / HABIBI USDAs the Saudi narrative revitalises meme coin markets, a clear winner of the spike in interest emerges in $HABIBI token, which has exploded +440% in the past 24 hours.A well-defended -47% retracement from the initial pump shook out weak hands, before catching strong support and consolidating in the…

EXCLUSIVE: Biden administration officials have quietly contemplated regulating natural gas-powered stovetops for at least a year, far earlier than previously known, according to internal communications.The communications, obtained by Fox News Digital via information request this week, show the little-known four-member Consumer Product Safety Commission (CPSC) was actively exploring legal justifications for regulations impacting gas stoves last summer. In June 2022, CPSC commissioner Richard Trumka Jr. consulted with a New York City eco group, asking for a legal justification to issue gas stove standards, according to the documents.”I would like to follow up on our discussion that took place on June…

Scott Olson Major market averages traded mixed early on Wednesday, with investors still reluctant to commit to a firm direction a week before CPI and the Fed. Nasdaq Composite (COMP.IND) slid 0.1%, S&P 500 (SP500) was even, and the Dow (DJI) was +0.1%. “Markets are generally swimming slightly against the tide this week, with the S&P 500 still not quite able to break out into bull market territory that it crossed intra-day on Monday,” Deutsche Bank’s Jim Reid wrote. “Having said that the index did just about close at a high for 2023 so the momentum is still there to…