Turkey’s Erdogan names loyalist finance minister amid Lira Rout

ISTANBUL – Turkish President Recep Tayyip Erdogan on Thursday appointed a loyalist as the country’s new finance minister after the incumbent president resigned over clashes with the old leader’s unconventional economic policies that have exacerbated a currency crisis that has left the country shook each other. Nureddin Nebati, a former deputy finance minister, replaces Lütfi … Read more

Covid-19 variant Omicron threatens economies in the US and the world

The global economy could take a modest hit from the Omicron strain of Covid-19, though the extent of damage will depend on the potential of the species itself, economists say. Spending on tourism is likely to decrease, and perhaps spending on restaurants and shopping in stores. But compared to the first wave of Covid-19 in … Read more

The stock market will be flat in 2022. Where they see buying opportunities.

Font size Strategists at the Bank of America estimate that the US will raise interest rates while the stock market remains stable in 2022. David Paul Morris/Bloomberg bank of America The experts said Monday they expect three rate hikes in the US and a flat stock market in 2022. But they said parts of the … Read more

Covid-19 variant Omicron threatens economies in the US and the world

The global economy could take a modest hit from the Omicron strain of Covid-19, though the extent of damage will depend on the potential of the species itself, economists say. Spending on tourism is likely to decrease, and perhaps spending on restaurants and shopping in stores. But compared to the first wave of Covid-19 in … Read more

Another reason why inflation may be here to stay

Those who argue that price increases are transient often point to the lack of much inflation in services. Services inflation appears reasonably under control, suggesting economists in “Team Transitory” that rising prices are the unpleasant hangover from Covid-19 disruptions, and that inflation should go away on its own. The story is powerful because there has … Read more

Vermont is a vaccine star. Why business is increasing there and what it means for investors.

Call it Vermont’s problem: why is the daily number of Covid-19 cases in New England states doubling with vaccination rates over 70%, and what does it say about the coming winter? Of all the states, Vermont has weathered the pandemic the most successfully to date, with the lowest death rate and the highest rates of … Read more

The US economy grew at a revised 2.1% year-on-year in the third quarter

The US economy grew at an annual rate of 2.1% instead of 2.0% in the third quarter, according to revised government data. Economists were expecting a reading of 2.2%, according to a Wall Street Journal poll. Consumer spending and investment in private stocks was largely responsible for the upward revision, the Commerce Department said Wednesday. … Read more

Turkish lira plummets after Erdogan defends rate cuts

Turkey’s economic crisis entered a tumultuous new phase, with the currency sinking to a new record low and President Recep Tayyip Erdogan preparing to meet with the leader of a regional rival seeking foreign investment. The lira fell by a staggering 12% on Tuesday and threatens to shake up the economy further by undermining confidence, … Read more

Should stock investors who ‘missed the rally’ buy now? This is what UBS says

Investors who fear they’ve missed “the rally” in stocks can still profit from buying now and seeking exposure in areas such as US midcap stocks, according to UBS Group’s global asset management division. “Record highs are usually followed by further positive momentum,” the chief investment office of UBS Global Wealth Management said in its 2022 … Read more

‘As long as we don’t end up in a recession,’ we are in a long bull market, says Cathie Wood of ARK Invest

Star stock voter Cathie Wood says she remains optimistic about the stock market over the long term, despite bearish concerns about rising inflationary pressures as the global economy tries to recover from the COVID-19 pandemic. In a video interview with MarketWatch’s sister publication Barron’s on Wednesday, Wood said “we’re in a long bull market,” which … Read more