Are Oil Prices Heading To $64 or $200? Depends On Who You Ask
09/09/2021 10:25 AMBrent Crude prices are set to retreat to $64 a barrel by the end of 2021, one of Japan’s leading banks says, while the energy minister of a Gulf oil producer warned that the International Energy Agency’s suggestion of no new investments in oil could push oil prices to...
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Goldman Sachs cuts its US GDP forecast for the 2nd time in a month after last week’s soft jobs report – but lays out 2 reasons why it’s still optimistic
09/09/2021 10:10 AMGoldman Sachs economists lowered their US growth forecast for 2021 to 5.7% from 6.2% on expectations of a "harder path" ahead for consumers. This revision follows a weak August jobs report that showed the domestic economy added a disappointing 235,000 jobs during the...
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The SEC’s “Really Sketchy Behavior”
09/09/2021 9:31 AMThat’s how Coinbase CEO Brian Armstrong described the SEC’s latest crypto crackdown. According to Coinbase, the Wall Street regulator has sent the crypto exchange a “Wells notice” regarding its upcoming lending product, Lend. Wells notice = a threat to take legal...
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Bank of Canada leaves interest rate and quantitative easing unchanged
09/08/2021 11:21 AMThe Bank of Canada is leaving its target for the overnight rate at 0.25 per cent. Its stimulus program known as quantitative easing (QE) is being maintained at a target pace of $2 billion per week. Despite weaker than expected GDP data that showed a contraction in the...
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Trading Desk Notes For September 4, 2021
09/08/2021 10:53 AMPowell’s “Substantial Further Progress” – is not happening yet – and neither is the taper The combination of much weaker-than-expected employment and consumer confidence reports means that the Fed will delay the taper. Price action was dull all week – nobody wanted to...
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Diamond Rebound Rolls On as De Beers Reports Another Bumper Sale
09/08/2021 10:02 AMThe diamond industry’s resurgence showed no sign of slowing down with De Beers reporting its biggest gem sale since February as consumers continued to buy jewelry. Anglo American Plc’s De Beers said it sold $515 million of rough diamond at its seventh sale of 2021,...
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Former Walmart Exec Unveils Plan To Build A ‘New City In America’
09/08/2021 9:54 AMA ‘new city in America’, set to house five million people, is being planned by a former executive of Walmart. Last week, Marc Lore, former head of US e-commerce for Walmart, unveiled plans for the new city, appointing a world-famous architect to design it. The...
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Amazon brings its cashierless tech to two Whole Foods stores
09/08/2021 9:15 AMAmazon is bringing its automated checkout technology to a pair of Whole Foods stores, the company announced Wednesday, marking the latest test of the grab-and-go system in a full-size supermarket. In a blog post, Amazon said the technology, called “Just Walk Out,” is...
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Canadian Consumer Confidence Plummets by Most Since April 2020
09/07/2021 12:07 PMConfidence among Canadian consumers fell by the most since the depths of the pandemic, suggesting that the elevated sentiment that sparked Prime Minister Justin Trudeau’s bid for re-election may soon be fading. The Bloomberg Nanos Canadian Confidence Index, which...
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A 150-Year Old Idea Could Lead To A Breakthrough In Space Travel
09/07/2021 10:45 AMThe increasing frequency of both natural and man-made catastrophes such as worldwide pandemics and climate catastrophes has re-validated the urgency to establish humanity as a multi-planet species. Indeed, the founding ethos of Elon Musk's private spaceflight company...
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