Gas Hits Record High Of $4.589 As JPMorgan Says Expect $6 Gas By Summer’s End
Gas prices rose to a national average of $4.589 per gallon – with JPMorgan saying it could pass $6 by the end of the summer. ‘There is a real risk…
Chinese Depositors Left In The Dark As Three Local Banks Freeze Deposits
Three Chinese banks have inexplicably frozen $178 million worth of customer deposits that have been documented, with possibly $1.5 billion total being frozen. The banks are refusing to release any…
More Subprime Borrowers Are Missing Loan Payments
In a trend reminiscent to the runup to the 2008 financial crisis, the rate of missed loan payments from subprime borrowers is rising: Consumers with low credit scores are falling…
Melvin Capital To Close Funds And Return Cash To Investors
Melvin Capital is closing its funds and will return the cash to its investors after bearing the brunt of losses from the soaring stock prices of heavily shorted stocks recently.…
At BoA, Savings Are Double What They Were Pre-Pandemic
Andy Sieg, president of Merrill Wealth Management, says he still sees consumer savings as substantial. “When we look at checking and savings accounts across Bank of America, we see our…
Morgan Stanley Projects A 27 Percent Chance Of A Recession In The Next 12 Months.
The GIC Weekly just came out. In it: Morgan Stanley estimates a 27% chance of recession in the next 12 months, up from just 5% in March. Investor anxiety now…
Sri Lanka Runs Out Of Fuel
Sri Lanka has officially defaulted on its debt payments: The grace period for Sri Lanka to avoid defaulting on its foreign debt expired on Wednesday, as the government scrambled for…
Goldman Economist Warns US Consumers Maxing Out Credit Cards Will Lead To Late 2022 Spending Collapse
One of the steps in the progression of increased costs through the economy will be the effects as debt-utilization peaks: Here are the shocking numbers: in March, one month after…
Trucking Stocks Massacred After Target Warns Of $1 Billion In Incremental Freight Costs
The Russell 3000 Index Trucking Subsector (RGUSPTK) has dropped over 10%. Meanwhile, the S&P 500 Trucking Index (SP500-20304020) down ~11% and the Nasdaq Combined Transportation Index (TRAN) down over 5%.…
Tesla Is Kicked Out Of The S&P 500′s ESG (Environmental, Social and Governance) Index
Blowback from the Twitter bid begins to manifest: The S&P 500 booted electric vehicle maker Tesla from its ESG Index in an annual rebalancing. Meanwhile, Apple, Microsoft, Amazon and even…
