Premarket: Price cap on Russian oil could shake up the market

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. London CNN Business – Europe and the United States have barred the import of Russian oil to … Read more

This star hedge-fund manager says some major tech names are now value plays, as he shorts one meme-stock favorite

Stocks are on the rebound again, at least that’s the vibe from futures. That’s a day after Federal Reserve Chair Jerome Powell confirmed to lawmakers, what markets already knew – that a soft economic landing might be tricky while taming the inflation beast. Along with average investors, hedge funds have had a rough start to … Read more

Elon Musk joins the growing chorus fearing a US recession. But there are stocks for that.

Look out above, the dip buyers are back in town. Stocks are soaring – for now – as Wall Street returns from a long holiday weekend, with Fed Reserve Chair Jerome Powell testifying in front of Congress this week. The buying mood comes after the S&P 500’s worst week since March 2020, including its fall … Read more

What is a mild hybrid? The hybrid technology you might not even know you have

CNN Business – With gas prices passing $ 5 a gallon in many places, drivers may wish that they had a hybrid vehicle. In fact, many owners of newer vehicles could already be driving a hybrid and not even know it. Hybrid technology is finding its way into all sorts of vehicles that aren’t advertised … Read more

Strategist who nailed the recent S&P 500 top says three things are needed for a market bottom

Wariness is in order after the S&P 500’s bear-market finish and a potential 75 basis-point Fed hike just one day away. Gains for stock futures and a potential bounce are fading fast. Morgan Stanley’s Mike Wilson, who can count some wins after pounding the table this year over a gloomy stock setup, told clients on … Read more

Rice prices are rising amid rising food inflation, export bans

The spider web rice fields in Flores, Indonesia. The United Nations’ Food and Agriculture Organization Food Price Index shows international rice prices creeping up for the fifth straight month to reach a 12-month high, according to the latest May data published last week. Tanutkij Wangsittidej Food prices have been on the rise in the past … Read more

Average US gas price hits $ 5 for first time

New York CNN Business – For the first time ever, a gallon of regular gas now costs $ 5 on average nationwide, according to AAA’s Saturday reading. The record is hardly a surprise. Gas prices have been rising steadily for the last eight weeks, and this latest milestone marks the 15th straight day that the … Read more

Gasoline Prices Reach $ 5 a Gallon Nationwide for the First Time

The average price of a gallon of regular unleaded gas in the US hit $ 5 Friday night, and the rise in fuel costs is expected to persist throughout the busy summer driving season. The record high, according to OPIS, an energy-data and analytics provider, comes as US consumer inflation hit its highest level in … Read more

Average US gas price hits $ 5 for first time

New York CNN Business – For the first time ever, a gallon of regular gas now costs $ 5 on average nationwide, according to AAA’s Saturday reading. The record is hardly a surprise. Gas prices have been rising steadily for the last eight weeks, and this latest milestone marks the 15th straight day that the … Read more

Commodity Chaos From Ukraine War Sends Trafigura to Record $ 2.7 Billion Profit

The privately held commodities merchant earned $ 2.7 billion in net profit on $ 170.6 billion in revenue in the six months through March, it said Friday. Profit was 29% higher than in the same period a year earlier, making Trafigura a winner from a stretch of massive volatility in energy and metal prices. Two-thirds … Read more