US, South Korea, and Japan pledged an agreements on security and economic
The US, South Korea, and Japan have agreed to respond to North Korea’s cyber threats, including cryptocurrency abuses and space launches. The meeting follows the Camp David trilateral summit, where President Joe Biden and two Asian allies pledged to deepen security and economic ties. The combined actions will target economic coercion after completing Camp David’s…
China’s CPI drop due to weak domestic and international demands
Chinese consumer prices fell the fastest in three years in November, with the Consumer Price Index (CPI) falling 0.5% from October and a year earlier. This is the most significant year-over-year CPI fall since November 2020. The weak domestic demand casts doubt on the economic recovery, and recent mixed trade data and factory surveys have…
Labor market and US economy are turning into better pace
The November jobs data suggests job growth is likely to re accelerate after worker strikes slowed in October. Nonfarm payrolls grew 185,000 in November, while the unemployment rate remained constant at 3.9%. Wall Street is expected to focus on these numbers, as investors believe the Fed is done raising rates and expect cuts in 2024.…
Oil prices slip due to lack of orders and weak demand
Oil benchmarks recovered after global supply excess and poor Chinese demand threatened a weekly loss. Brent crude prices rose by 2.6% to $75.98 a barrel, while West Texas Intermediate futures rose by 2.6% to $71.16. Both benchmarks fell to their lowest since late June, indicating oversupply. OPEC+ members agreed to cut output by 2.2 million…
Bitcoin gain many interest to become exchange list
Industry executives have said discussions between the US Securities and Exchange Commission (SEC) and asset managers seeking to list bitcoin ETFs have reached technical details, suggesting the agency may soon approve the products. Thirteen companies, including Grayscale Investments, BlackRock, Invesco, and ARK Investments, have applied for bitcoin ETFs with the SEC. Proponents argue that a…
Stock market will be second choice after bonds investment
Investment banks and asset managers have diverged on stock market and currency predictions for 2024, indicating a deep divide about whether the US economy will enter a recession. The world’s largest economy grew 5.2% in Q3, and investors are prepared for a rough start to the new year. Legal & General Investment Management chief investment…
Saudi Arabia and Russia calls agreements on OPEC+
Saudi Arabia and Russia have called for all OPEC+ members to join an output cut accord for the global economy, following a tumultuous producers’ club summit. The two countries commended the close cooperation between them and the successful efforts of OPEC+ countries in enhancing global oil market stability. The Kremlin and Saudi Crown Prince Mohammed…
Pay later will be new problems on economic future
US banking regulators are investigating the “buy now, pay later” financing for retail shopping, warning that it raises risks for customers. The loans allow borrowers to pay off purchases in four or fewer interest-free payments, but can overextend naive borrowers. The warning comes as the holiday shopping season approaches, with a record number of low-income…