The stock market was slipping Thursday following its recent Fed-inspired surge after news headlines said that the US economy shrank for two successive quarter as any two consecutive quarters of declines in growth traditionally constitute a recessionThe Dow Jones Industrial Average was down 121.60 points, or 0.38%, at 32,075.99, the …

Chinese President Xi Jinping told US President Joe Biden on Thursday that they firmly oppose Taiwan’s independence and the interference of external forces, Chinese state media reported.“Those who play with fire will only get burnt,” Xi told his American counterpart during the phone call, as per Reuters. “Hope the US …

The United States enters technical recession as economy shrank 0.9% in Q2 following two successive quarters of negative GDP growth. President Biden reacted to Thursday’s GDP report, saying it is “no surprise that the economy is slowing down” amid inflation, despite saying earlier this week that the US would not …

This question normally weighs on consumers, politicians and investors around the world every time the US central bank decides interest rate hikes. Is the US economy in a recession? The reasonable answer, so far, is: “maybe”, in other words; it is “A Mix of Yes and No”. For many people, …

Gold price advances more than 1%, recording back-to-back gains for the first time since July 21-22. The US Q2 GDP, on its preliminary reading, contracted, meaning the US is technically in a recession.The US economic calendar on Friday will update the Fed’s favorite inflation gauge, alongside the UoM Consumer Sentiment.Gold …

Citing eight sources familiar with the matter, Reuters reported on Thursday that the Organization of the Petroleum Exporting Countries (OPEC) and allies, collectively known as OPEC+, were planning to leave the oil output unchanged for September.Sources also acknowledged that a modest output increase could be discussed amid calls from the …

The fears of the US economic slowdown as portrayed by the US Treasury yield curve appeared to have recently creeped among the optimists. US government bond market is sending a fresh batch of signals that investors are increasingly convinced the Fed’s aggressive actions to tame inflation could result in recession. …

It has been a big Wednesday for gold. FOMC decision should help convince Wall Street that a peak in Treasury yields (10-year) is in place. The Fed is still committed to fighting inflation and the market is getting very close to pricing in peak tightening.Gold looks like it could continue …

The US government bond market is sending new signals that investors are increasingly convinced the Fed’s aggressive actions to tame inflation will result in recession.While Fed Chair Jerome Powell on Wednesday said that he does not see the economy currently in a recession, spreads between different pairings of Treasury securities …

Nord Stream 1 pipeline’s reduced gas flows via the was a significant factor that added more complication to the EU’s plan to fill gas storage units across the continent. The EU’s goal as a whole is to replenish its gas storage to 80 percent full by the end of October. …