S&P, Nasdaq extend losing streaks amid rising recession worries

Apple down after Morgan Stanley cuts December shipment target Tesla falls on production loss worries Carvana records worst-ever daily drop Indexes: Dow flat, S&P down 0.19%, Nasdaq 0.51% Dec 7 (Reuters) – The S&P 500 and Nasdaq closed down on Wednesday after a choppy session on Wall Street, as investors struggled to grasp a clear … Read more

Ukraine appears to show ability to strike far inside Russia

Third Russian airfield reported hit in drone strike Ukraine’s Zelenskiy meets troops near the eastern front Oil price cap gives G7 leverage on Russia – US official Dec 7 (Reuters) – A third Russian airfield was set ablaze by a drone strike, a day after Ukraine demonstrated an apparent new ability to penetrate hundreds of … Read more

Bankman-Fried, Ellison tap attorneys as FTX probes ramp up

NEW YORK, Dec 6 (Reuters) – FTX founder and former chief executive Sam Bankman-Fried and Caroline Ellison, head of its now-defunct trading affiliate, have tapped defense attorneys as US authorities probe the crypto exchange’s collapse, according to a spokesperson for Bankman-Fried and a source familiar with Ellison’s selection. Bankman-Fried has retained Mark S. Cohen, of … Read more

Wall Street slumps on further recession talk, S&P posts 4th decline

Meta falls on report of EU concern over targeted ads Energy stocks drop as crude trades at the lowest level since Jan Mirati slumps after trial data disappoints Dec 6 (Reuters) – Wall Street closed lower on Tuesday, with the S&P 500 declining for the fourth straight session, as skittish investors fretted over Federal Reserve … Read more

EU agrees law preventing import of goods linked to deforestation

BRUSSELS/SAO PAULO, Dec 6 (Reuters) – The European Union agreed on Tuesday on a new law to prevent companies from selling into the EU market coffee, beef, soy and other commodities linked to deforestation around the world. The law will require companies to produce a due diligence statement showing that their supply chains are not … Read more

Stocks slide, dollar clings on as data challenges Fed pause hopes

SINGAPORE/LONDON, Dec 6 (Reuters) – Global stocks headed for a third straight day of losses on Tuesday and the dollar held most of its gains from the previous day after US data drove speculation the Federal Reserve will stick longer with aggressive interest rate rises . MSCI’s world index (.MIWD00000PUS) fell 0.3%, set for a … Read more

Exclusive: Goldman Sachs on hunt for bargain crypto firms after FTX fiasco

LONDON, Dec 6 (Reuters) – Goldman Sachs (GS.N) plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. FTX’s implosion has heightened the need for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to … Read more

Analysis: Europe can’t look to US shale to fill any OPEC gap

OPEC to meet Sunday unafraid of a US shale response Inflation, less productive wells blunt future output Ambitions crimped by higher costs, tight-fisted investors NEW YORK/DENVER/HOUSTON, Dec 2 (Reuters) – US shale oil drillers turned from scrappy wildcatters into multi-millionaires over the past two decades, propelling the United States to become the world’s largest producer, … Read more

Wall St slides as services data spooks investors about Fed rate hikes

US service sector activity picks up in November Tesla cuts output plan for Shanghai plant for December – sources All S&P 500 sectors decline, with energy stocks hit hard Indexes down: Dow 1.4%, S&P 1.79%, Nasdaq 1.93% Dec 5 (Reuters) – US markets ended Monday lower, as investors spooked by better-than-expected data from the services … Read more

US services industry regains steam; factory orders accelerate

Services industry activity picks up in November Employment rebounds; supplier deliveries improve Factory orders increased by 1.0% in October WASHINGTON, Dec 5 (Reuters) – US services industry activity unexpectedly picked up in November, with employment rebounding, offering more evidence of underlying momentum in the economy as it braces for an anticipated recession next year. The … Read more