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☆ Oil holds on to last week's gains buoyed by Mideast tensions, economic data
▼ + stars: | 2024-08-12 | by ( ) www.cnbc.com time to read: +1 min

Oil prices were little changed in early Asian trading on Monday, holding on to most of last week's more than 3% gains, supported by geopolitical tensions and better economic data. Oil prices were little changed in early Asian trading on Monday, holding on to most of last week's more than 3% gains, supported by geopolitical tensions and better economic data. "Traders remain mindful of simmering tensions in the Middle East," ANZ analysts said in a note. Brent ended last week up more than 3.5% on the week, while WTI gained more than 4%, on supportive economic data and increased hopes of a U.S. interest rate cut. China's consumer prices rose faster than expected in July, and U.S. weekly jobless claims fell more than expected last week.

Persons: Ismail Haniyeh, Fuad Shukr, Israel, Brent, WTI Organizations: Brent, U.S, West Texas, ANZ, Gaza Civil Emergency Service, Federal Reserve Locations: Iran, Gaza, U.S

☆ The energy sector decline is overdone and this stock could lead the bounce, according to the charts
▼ + stars: | 2024-08-12 | by ( Katie Stockton | ) www.cnbc.com time to read: +7 min

—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.

Persons: DVN, Katie Stockton Organizations: Devon Energy, CNBC, NBC UNIVERSAL, Fairlead, CNBC Pro, Securities Locations: Devon

☆ The bitcoin bounce could give way to a deeper pullback, chart analysts say
▼ + stars: | 2024-08-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin has clawed back most of its weekly losses after an 11% rally late Thursday, but it is not out of the woods yet, according to chart analysts. "Bitcoin got nicely oversold after slicing through $53,000 [Monday], so a little relief is in order," Ron Ginsberg, a chart analyst at Wolfe Research, told CNBC. It now needs to hold that level on a consecutive weekly closing basis, Fairlead Strategies' Will Tamplin told CNBC. "Our intermediate-term metrics for bitcoin point lower, so we would look for a bounce to give way to a deeper pullback" to near $51,500, he said. "A cyclical uptrend remains in place for bitcoin, although long-term upside momentum behind the uptrend has slowed due to its corrective phase."

Persons: Bitcoin, Ron Ginsberg, Ginsberg, Will Tamplin Organizations: Metrics, Wolfe Research, CNBC

☆ Oil prices tick up on sharp fall in U.S. crude inventories
▼ + stars: | 2024-08-08 | by ( ) www.cnbc.com time to read: +1 min

Oil prices edged higher on Thursday for the third straight session after government data showed a steep draw in U.S. crude stockpiles, rebounding from multi-month lows touched this week. Brent crude futures rose 23 cents, or 0.3%, at $78.56 a barrel by 0017 GMT, while U.S. West Texas Intermediate crude gained 29 cents, or 0.4%, to $75.52. U.S. crude inventories fell for a sixth week in a row last week, dropping by 3.7 million barrels to 429.3 million barrels last week, government data showed, against analyst expectations in a Reuters poll for a 700,000-barrel draw. While no supply has been impacted so far, attacks on ships in the Red Sea have forced tankers to take longer routes meaning more oil stays on the water for longer. Meanwhile, Libya's National Oil Corporation has declared force majeure in its Sharara oilfield from Tuesday, a statement said, adding that the company had gradually reduced the field's production due to protests.

Persons: Brent, majeure Organizations: Brent, U.S, West Texas Intermediate, . Energy, National Oil Corporation Locations: U.S, Iran, Israel

☆ Oil prices near multimonth lows, edge higher on Middle East tensions
▼ + stars: | 2024-08-07 | by ( ) www.cnbc.com time to read: +2 min

Oil prices crept higher on Wednesday, though Brent still languished near seven-month lows, pressured by concerns over weak demand and fears of recession in the United States. The threat of conflict escalating in the Middle East and endangering oil production has supported prices since Tuesday. Brent crude futures were up 45 cents, or 0.6%, to $76.93 a barrel at 0823 GMT. U.S. crude oil, gasoline and distillate inventories rose last week, according to market sources citing American Petroleum Institute figures on Tuesday. But both oil benchmarks broke a three-session declining streak on Tuesday, as tensions in the Middle East stoked supply concerns.

Persons: Brent, Tamas Varga, Antony Blinken, Daniel Hynes Organizations: Brent, . West Texas, PVM, American Petroleum Institute, U.S . Energy, Administration, ANZ Locations: United States, U.S, Iran, Gaza

☆ Stocks close lower as Wall Street struggles to stage a comeback
▼ + stars: | 2024-08-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —US stocks wavered Wednesday, giving back earlier gains as investors tried to recover from the week’s bruising losses. The Dow fell 234 points, or 0.6%, after gaining more than 400 points earlier in the day. CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, closed in “extreme fear” territory. The Cboe Volatility Index — Wall Street’s fear gauge — which measures bets on expected stock market volatility, fell to 27. The Magnificent Seven companies lost $615.6 billion in value on Monday, according to S&P Global data.

Persons: Dow, ”, Sean Frank Organizations: New, New York CNN, Nasdaq, . West Texas, Brent, Dow, Cloud Equity Group Locations: New York, Japan

Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. The Bank of Japan raising rates to their highest level since 2008 on July 30 caused the yen to strengthen to a seven-month high, pressurizing stocks. Markets globally were also spooked by fears of a U.S. recession stoked by a weaker-than-expected jobs report. Real wages in Japan also grew 1.1% in June compared with a year ago, the first time that wages have risen in 26 months. Strong wage growth offers more room for the Bank of Japan to tighten its monetary policy.

Persons: Topix, Korea’s Kospi, Hong, Australia’s, Brent, Dow Organizations: Nikkei, Bank of, Softbank Group Corp, U.S ., South Korean, Samsung Electronics, chipmaker SK Hynix, China’s CSI, . West Texas, Bank of Japan, Reserve Bank of Australia, Dow, Nasdaq Locations: Japan, Asia, Pacific, Bank of Japan, U.S

The upscale shopping district of Ginza in Tokyo, Japan, on Saturday, May 4, 2024. Japan stocks rebounded sharply on Tuesday after the Nikkei 225 and the Topix dropped over 12% in the previous session. Other Asia-Pacific markets also opened higher. Japan's Nikkei 225 — which saw its largest loss in the previous session since the 1987 Black Monday crash — and the broad-based Topix gained over 10%. The rebound comes after South Korean markets were halted temporarily on Monday after circuit breakers activated.

Persons: Topix, Korea's Kospi, Australia's, Brent Organizations: Nikkei, U.S ., Softbank Group Corp, South, South Korean, Samsung Electronics, chipmaker SK Hynix, . West Texas Locations: Ginza, Tokyo, Japan, Asia, Pacific

☆ Oil prices climb more than $1 on fear of spreading Middle East conflict
▼ + stars: | 2024-08-06 | by ( ) www.cnbc.com time to read: +2 min

Oil prices climbed more than $1 on Tuesday, paring the previous day's loss as concern that an escalating Middle East conflict could hit supplies outweighed fear of a possible U.S. recession that could hurt demand in the world's biggest oil consumer. Oil's slide was limited by worry that Iranian retaliation for the assassination of a Hamas leader in Tehran may lead to a wider war in the Middle East. "Increased fear of escalating Middle East conflict prompted fresh buying," said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities . "The market has largely factored in a retaliatory attack by Iran so the focus is on its scale and Israel's counterattack," Kikukawa said. If the conflict escalates, oil prices will rise, but if it is contained in the short term - as it was in April amid similar escalation fear - gain will be limited, he said.

Persons: paring, Hiroyuki Kikukawa, Kikukawa, Antony Blinken, Masoud Pezeshkian, Vladimir Putin Organizations: Brent, U.S, West Texas, NS, Nissan Securities, State Department, Reuters, OPEC Locations: Fort Stockton , Texas, Tehran, Iran, Israel, U.S, Iraq, Russia, Venezuela

☆ U.S. crude oil falls below $72 per barrel, hits six-month low as market sells off
▼ + stars: | 2024-08-05 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

A view of storage tanks and pipelines at the Shell Carson Distribution Complex, a distribution hub for petroleum products, in Carson, California, on March 11, 2022. U.S. crude oil futures tumbled to a six-month low on Monday, as equity markets sold off on fears the economy might be teetering on the brink of a recession. West Texas Intermediate has largely erased its gain for the year and Brent is now down for 2024, after trading higher for months on geopolitical risk in the Middle East and forecasts that the oil market would tighten in the third quarter. Here are Monday's energy prices:The sell-off comes after U.S. job growth disappointed in July, with the unemployment rising to 4.3%, the highest level since October 2021. The U.S. manufacturing sector also contracted in July for the fourth consecutive month.

Persons: Brent Organizations: Shell Carson, West Texas Locations: Carson , California, U.S

☆ Where to generate income and safety during this global asset meltdown
▼ + stars: | 2024-08-05 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

With the stock market melting down, investors are scrambling for safety and ways to generate income. Treasury yields have also been falling as investors fled to safety, with the 10-year dropping more than 10 basis points earlier in the session. The move down in Treasury yields has Collin Martin, fixed income strategist at Schwab Center for Financial Research, shifting his outlook. "This is really attractive, especially considering that we have seen Treasury yields plunge so much," Martin said. Money needed in 12 months or less should be in a money market, he said.

Persons: Collin Martin, Martin, Barry Glassman, Glassman, Chuck Failla, Failla Organizations: Federal, Treasury, Schwab Center, Financial Research, Investment, Wealth Services, CNBC, Sovereign Financial Group

☆ Oil hovers at 8-month lows as U.S. recession fears offset Mideast tensions
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: +2 min

Oil prices hovered at eight-month lows on Monday as fears of a recession in the United States, the world's top oil consumer, offset concerns that escalating tensions in the Middle East may affect supplies from the largest producing region. The market had been expecting OPEC+ to delay the phase out of voluntary production cuts beyond the third quarter, ANZ analysts said. A Reuters survey showed on Friday that OPEC oil output rose in July despite production cuts by the group. Weak economic data across the globe weighed on oil prices, on concerns that a sluggish global economic recovery would dampen fuel consumption. Slumping diesel consumption in China, the world's biggest contributor to oil demand growth, is weighing on global oil prices.

Persons: Ismail Haniyeh, Fuad Shukr, WTI, Baker Hughes Organizations: New Harmony Oil, Brent, U.S, West Texas, Hezbollah, ANZ, Organization of, Petroleum, Reuters Locations: Grayville , Illinois, United States, Gaza, Cairo, Israel, Iran, Lebanese, East, Brent, U.S, Russia, China, Europe

☆ Ukraine pushed Russia's Black Sea Fleet out of Crimea but retaking the peninsula will be incredibly hard
▼ + stars: | 2024-08-03 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +10 min

Read previewUkraine has dealt a massive blow to Russia's Black Sea Fleet in Crimea. Russia has retained control of Crimea since invading and annexing the peninsula in 2014 and secured Sevastopol as the headquarters for its Black Sea Fleet. Related stories"Without an amphibious naval force to land in Crimea, how can Ukraine project enough troops onto the peninsula to claim its control?" Ukraine has resorted to hitting Russia's air defenses in Crimea with missiles and long-range weapons, including US-supplied Army Tactical Missile Systems, known as ATACMS. "Even with F-16s, I don't think Ukraine has the ability to provide its ground forces effective close air support, given Russian air defense capability," he told BI.

Persons: —, steeled, Mark Cancian, who's, Basil Germond, Ulf Mauder, Cancian, Mark Temnycky, Ukraine's, Mikhail Razvozhaev, Temnycky, Benjamin Friedman, VIKTOR KOROTAYEV, Sergej Sumlenny, Sumlenny, Operation Barbarossa, Friedman Organizations: Service, Business, US Marine, Center for Strategic, International Studies, Lancaster University, Getty, Council's Eurasia Center, Ukraine, Army Tactical Missile Systems, The Institute, Defense, Resilience Initiative, Soviet Union's Red Army, Russians, Red Army, Soviet Union —, Soviet Union Locations: Ukraine, Crimea, Russia, Sevastopol, Russian, Kerch, Feodosia, Novorossiysk, Kherson, Ukrainian, Pereko, Suvorikin, Soviet, Soviet Union, Operation, Soviet Ukraine, Pereko —

☆ Oil set to fall for fourth week as demand concerns weigh on sentiment
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: +2 min

Brent crude futures gained 33 cents, or 0.4%, to $79.85 a barrel by 0020 GMT, after falling 1.5% in the previous session, while U.S. West Texas Intermediate crude futures rose 38 cents, or 0.5%, to $76.69, after a 2.1% drop on Thursday. On a weekly basis, Brent futures are on track to fall 1.7%, while WTI futures are set to drop 1.1%. "Markets continue to remain wary of Chinese oil demand after June data came in weaker-than-expected," analysts at consultancy firm FGE said. Asia's crude oil imports dropped to the lowest in two years in July on weak demand in China and India, according to data compiled by LSEG Oil Research. Still, the outlook for Chinese crude oil imports is brightening, FGE analysts noted, citing an increase in strategic purchases and a recovery in refining rates in the country.

Persons: Brent, FGE Organizations: Brent, U.S, West Texas, LSEG Oil Research Locations: Long Beach , California, United States, Europe, Asia, China, India, Iran, Israel

☆ U.S. crude oil breaks $78 per barrel as fears of war between Iran and Israel grow
▼ + stars: | 2024-08-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil futures broke above $78 per barrel Thursday on fears that Israel and Iran are heading to a direct conflict after the assassination of a Hamas leader in Tehran. Iran Supreme Ayatollah Ali Khamenei has ordered a direct strike on Israel in response to the assassination of Hamas political leader Ismail Haniyeh, three Iranian officials told the New York Times. Khamenei ordered the direct strike at an emergency meeting of Iran's national security council Wednesday morning after Haniyeh was killed, the officials told The Times. Iran and Israel traded direct strikes in April, pushing oil prices to the highest point of the year, but they enemies ultimately pulled back from a full-scale war. The rising tensions come as an OPEC+ committee is meeting Thursday to review members' production quotas.

Persons: Ali Khamenei, Ismail Haniyeh, Haniyeh, Khamenei, Yemen's, Helima Croft, Croft Organizations: New York Times . West Texas, Times, Reuters, RBC Capital Markets Locations: Israel, Iran, Tehran, Iraq, Gaza

☆ CFRA raises S&P 500 outlook, sees 11% gain over the next 12 months
▼ + stars: | 2024-08-01 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

CFRA Research sees more upside for the benchmark S & P 500 over the next 12 months, even if the risk of near-term profit taking looms. The higher forecast implies a year-end target of 5,770 for the S & P 500, or a 4.5% uptick from Wednesday's close for the benchmark. Stovall's previous year-end S & P 500 target called for 4,940. A combination of more stable supply-and-demand dynamics coupled with a widening of market gains supports the more bullish outlook, CFRA said. The S & P 500 has a roughly 14% gain this year, compared to the Nasdaq Composite's roughly 15% advance.

Persons: Sam Stovall, Evercore's Julian Emanuel, CFRA, Russell Organizations: Research, Federal Reserve, Nasdaq Locations: Wednesday's

☆ Oil rises on risk of broadening Middle East conflict
▼ + stars: | 2024-08-01 | by ( ) www.cnbc.com time to read: +2 min

The most active contracts on both benchmarks jumped about 4% in the previous session. The killings fueled concern that the 10-month-old war in Gaza between Israel and Hamas was turning into a wider Middle East war, which could potentially lead to disruptions in oil supply from the region. Also pushing up oil prices was a set of data releases from the U.S., the world's top oil consumer, and a weaker dollar. U.S. oil demand was at a seasonal record in May as gasoline consumption surged to its highest since before the pandemic, a separate data release from the EIA showed on Wednesday. A weaker dollar can boost oil demand from investors holding other currencies.

Persons: Ismail Haniyeh, Shino Mitsuko Organizations: Global, Brent, U.S, West Texas, United Nations, U.S . Energy, Administration, Federal Reserve Locations: Iran, U.S, Tehran, Lebanon, Beirut, Gaza, Israel, . U.S

☆ CNBC Daily Open: Fed signals possible rate cut; Wall Street soars; oil gains as Middle East tensions rise
▼ + stars: | 2024-08-01 | by ( Kevin Lim | ) www.cnbc.com time to read: +3 min

Rate cut on horizonThe Federal Reserve expectedly kept its benchmark rate steady at 5.25% to 5.50% on Wednesday, but Chairman Jerome Powell signaled the U.S. central bank could cut the rate in its September meeting. U.S. stocks rallyU.S. stocks jumped after Powell said a rate cut in September was "on the table." Oil gainsU.S. crude oil futures rose 4% on Wednesday after Hamas political leader Ismail Haniyeh was assassinated in Tehran. Japan currency interventionJapanese authorities spent 5.53 trillion yen, or $36.8 billion, to support the yen in July, official data showed. [PRO] Rate cut beneficiariesCNBC Pro screened for stocks in the S&P 500 that tend to rise the most when short-term rates start to decline.

Persons: expectedly, Jerome Powell, Powell, Ismail Haniyeh, Israel, Oil Organizations: CNBC, Nasdaq, Dow Jones, Nvidia, Devices, Boeing, Treasury, Facebook, Google, Meta, Oil, West Texas Intermediate, U.S Locations: U.S, Tehran, Iran, Israel, Beirut, Japan

☆ CNBC Daily Open: Fed signals rate cut; U.S. stocks soar; oil gains as Middle East tensions rise
▼ + stars: | 2024-08-01 | by ( Kevin Lim | ) www.cnbc.com time to read: +3 min

Rate cut on horizonThe Federal Reserve expectedly kept its benchmark rate steady at 5.25% to 5.50% on Wednesday, but Chairman Jerome Powell signaled the U.S. central bank could cut the rate in its September meeting. U.S. stocks rallyU.S. stocks jumped after Powell said a rate cut in September was "on the table." Oil gainsU.S. crude oil futures rose 4% on Wednesday after Hamas political leader Ismail Haniyeh was assassinated in Tehran. Asian stocks mixedAsian markets were mixed on Thursday with Japan stocks tumbling while Australia's S&P/ASX 200 touched a new all-time high. [PRO] Rate cut beneficiariesCNBC Pro screened for stocks in the S&P 500 that tend to rise the most when short-term rates start to decline.

Persons: expectedly, Jerome Powell, Powell, Ismail Haniyeh, Israel, Oil Organizations: New York Stock Exchange, Wall, CNBC, Nasdaq, Dow Jones, Nvidia, Devices, Boeing, Treasury, Facebook, Google, Meta, Oil, West Texas Intermediate, Nikkei, Developers, Bank of, Singapore Airlines, U.S Locations: New York City, U.S, Tehran, Iran, Israel, Beirut, Japan, Shanghai

☆ Time to dump CDs? 6 experts share 6 investing moves to make as the Fed prepares to cut rates in September.
▼ + stars: | 2024-07-31 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Certain areas of the stock market that benefit from lower rates could see a boost. AdvertisementInstead, plug some money into longer-duration bonds to lock in higher returns while they're still around, Milan said. In addition to tying down solid returns, longer-duration bonds could also appreciate when rates fall, he said. AdvertisementLook at rate-sensitive areas of the stock marketCertain areas of the stock market should also benefit from Fed rate cuts. But investors should keep their eye on the labor market the more the Fed cuts rates, Young Thomas said.

Persons: —, Daniel Milan, they're, Ed Mahaffy, Mahaffy, Robert Phipps, Bernstein, Liz Young Thomas, Shmuel Shayowitz, Kristy Kim, Young Thomas Organizations: Service, Federal Reserve, Business, Cornerstone Financial Services, Treasury, ClientFirst Wealth Management, Corporate, Per Stirling Capital Management, Bloomberg, Bond, Index, Fed, Vanguard, ®, Schwab, Fidelity Locations: Michigan, Milan, TreasuryDirect, TomoCredit

☆ CNBC Daily Open: Tech retreats; Starbucks same-store sales decline for second straight quarter
▼ + stars: | 2024-07-31 | by ( Kevin Lim | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia pulled back 7% and Microsoft fell 0.9% during the normal session before reporting earnings after the bell. Still, Microsoft beat estimates as quarterly revenue increased 15% from a year ago to $64.73 billion and net income rose to $22.04 billion. Starbucks missStarbucks' quarterly revenue slid 1% to $9.11 billion, missing forecasts as same-store sales declined for the second straight quarter. Net income fell to $1.05 billion from $1.14 billion a year ago, though it met analysts' expectations.

Persons: Tamas Varga, PVM, Tom Lee Organizations: New York Stock Exchange, CNBC, Big Tech, Nasdaq, megacaps Meta, Apple, Dow Jones, Nvidia, Microsoft, Fed, Microsoft Microsoft, West Texas Intermediate, Brent Locations: New York City, U.S, China

☆ What to do now that the Fed is signaling lower interest rates
▼ + stars: | 2024-07-31 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +9 min

Given the many ways lower rates can affect your finances, here are some things to consider when deciding what steps to take in response. Here’s how lower rates may affect key areas of your financial life, along with tips on what to do about it. If that proves difficult to get, see if you can transfer your balance to a credit card from a credit union or local bank that offers lower rates than the biggest banks. And because many variables determine what that factor will be, it will be hard to figure out the impact of lower interest rates. His advice: Don’t keep more than six months’ to a year’s worth of living expenses in cash or cash equivalents.

Persons: ”, Greg McBride, ” McBride, “, Chris Diodato, Diodato, you’ll, McBride, ” Dodiato, Collin Martin, don’t Organizations: New, New York CNN, Federal Reserve, Bankrate, Schwab Center, Financial Research, AAA Locations: New York, Schwab.com

☆ Her daughter struggled in school with dyslexia, so she moved all 3 kids to Bali to try hands-on learning in bamboo classrooms
▼ + stars: | 2024-07-31 | by ( Amanda Goh | ) www.businessinsider.com time to read: +10 min

"And I knew it would just get harder and harder for her once she got to intermediate and high school." That's when she learned about the Green School in Bali, Indonesia, known for its sustainability-focused curriculum and eco-friendly bamboo campus . "I remember getting up and telling the family, 'We're moving to Bali for the Green School,'" Jackie said. There are around 70 Indonesian students at Green School Bali, of which half are on full scholarships, he said. Yearly tuition fees at Green School Bali do not come cheap.

Persons: —, Mila, Jackie Easthope, Jackie, SONNY TUMBELAKA, John Hardy, Cynthia, Jackie Easthope It's, Kingston, Mads Hedegaard, Hedegaard, Sayoga, Bali Jackie, I'd, I'm Organizations: Service, Business, Green School, Getty, Education, Motion, Hardys, Indy, Green, Western Associates of Schools, Colleges, WASC, Green School Bali, Canggu Community Locations: New Zealand, Bali , Indonesia, AFP, Bali, South Africa, Singapore, Kingston, Beraban, Canggu

☆ Oil claws back some losses after Israel retaliates against Hezbollah
▼ + stars: | 2024-07-31 | by ( ) www.cnbc.com time to read: +2 min

Oil futures clawed back some losses on Wednesday, recovering from 7-week lows as geopolitical tensions rose after Israel retaliated against an attack by Hezbollah, although prices remained under pressure from concerns about demand in China. Oil futures clawed back some losses on Wednesday, recovering from 7-week lows as geopolitical tensions rose after Israel retaliated against an attack by Hezbollah, although prices remained under pressure from concerns about demand in China. U.S. West Texas Intermediate crude futures rose 52 cents, or 0.7%, to $75.25 a barrel. "While (WTI) crude oil remains below the 200-day moving average at $78.66, downside risks remain towards trendline support in the $74.20/00 area," Sycamore said, adding that a sustained break below $74 would open up a move towards $70. Slowing fuel demand in China, the world's largest crude oil importer and the biggest contributor to global demand growth, is also weighing on oil markets.

Persons: Israel, Brent, WTI, Hezbollah's, Tony Sycamore, Sycamore Organizations: Brent, . West Texas, Saturday's, U.S, UN, Organization of, Petroleum, Reuters Locations: China, Beirut, Israel, Gaza, OPEC, Russia

☆ These income plays could do better than money market funds when the Fed cuts rates
▼ + stars: | 2024-07-31 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

Cash has poured into money market funds since the Federal Reserve began its rate hiking cycle. Short-term debt has been a popular investment over the past few years, and money market funds are a top example. For perspective, there was roughly $4 trillion in total money market funds as of the fourth quarter of 2019, according to the St. Louis Fed . Money market funds hold very short-term debt, and many currently offer a yield above 5%. "Historically, you don't tend to see money market inflows stop or convert to outflows until you get below say 3% on those rates.

Persons: Cash, Louis Fed, Sam Huszczo, Huszczo, Todd Sohn, Ken Brodkowitz, weren't, Brodkowitz, Strategas, Sohn, " Sohn, Callie Cox, Cox Organizations: Federal Reserve, Investment Company Institute, SGH Wealth Management, Federal, Bond, SEC, Gries Financial Partners, Fidelity, Income, Morningstar, US Treasury, Ritholtz Wealth Management, Ritholtz Locations: Detroit , Michigan, BlackRock

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