Russia’s ruble is at strongest level in 7 years despite sanctions

Russian one ruble coin and Russian flag displayed on a screen are seen in this multiple exposure illustration photo taken in Krakow, Poland on March 8, 2022. Facebook Facebook logo Sign up for Facebook to connect with Jakub Porzycki Nurphoto | Getty Images Russia’s ruble hit 52.3 to the dollar on Wednesday, an increase of … Read more

Mark Zuckerberg envisions 1 billion people in the metaverse

Meta Platforms CEO Mark Zuckerberg told CNBC’s Jim Cramer on Wednesday that the metaverse could be a considerable part of the social network operator’s business in the second half of the decade. “We hope to basically get to around a billion people in the metaverse doing hundreds of dollars of commerce, each buying digital goods, … Read more

What is staked ether (stETH) and why is it causing havoc in crypto?

Ether is the second-largest cryptocurrency in the world by market value. Jaap Arriens | NurPhoto via Getty Images Another controversial cryptocurrency is causing havoc in the digital asset market – and this time, it’s not a stablecoin. Staked ether, or stETH, is a token that’s supposed to be worth the same as ether. But for … Read more

Stocks like Coinbase & Pinterest are buys in a recession

Anxious investors should bolster their portfolios with stocks that have the best chance to weather the market volatility and represent good long-term buying opportunities, analysts said this week. These companies have certain characteristics that Wall Street analysts believe will allow them to come out on the other side of the turbulence. CNBC Pro combed through … Read more

After another big weekly loss, assessing whether stocks are cheap and a buying opportunity is near

Stocks are emphatically on sale, but are they cheap? Markdowns are not always the same as bargains. Much depends on the original price and quality of the goods. And even with last week’s price drops on Wall Street, it’s tough to say yet that the market is broadly cheap. But value seems to be emerging … Read more

Here are three things the Fed’s done wrong, and what’s still not right

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, DC, June 14, 2022. Facebook Facebook logo Sign up for Facebook to connect with Sarah Silbiger Reuters After years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy … Read more

Gold is doing ‘spectacular job’ but price drop to $ 1,800 not ruled out, here’s why

(Kitco News) Gold surprised this week with its resilience and steadiness after an oversized 75-basis-point hike from the Federal Reserve and massive volatility across many markets. But analysts don’t see a major rally developing in gold in the short-term, and they are not even ruling out a move back to $ 1,800. The precious metal’s … Read more

Crypto Bank Runs Are Spreading as Accounts Are Frozen

When a traditional bank fails, a SWAT team of regulators swoops in, winding it down in secret and preventing a panic that could spread throughout the financial system. In cryptocurrency banking, the demise happens in full public view — and there is no regulatory SWAT team to keep the markets calm. That story unfolded this … Read more

A crash course monetary policy

Unless you were visiting another planet, you know the Federal Reserve on Wednesday raised its benchmark interest rate by 75 basis and promised to keep reducing its bond holdings. While investors initially cheered the announcement, the mood quickly soured as fear set in that Jay Powell and team still may not be doing enough to … Read more

This inflation indicator shook the Fed and led it to get aggressive

All of a sudden, Wall Street is hyper-focused on inflation expectations, and an indicator from the University of Michigan with its roots in the 1940s, for clues as to how the Federal Reserve will try to manage the economy and fight inflation that’s running at a more than 40-year high. The Fed can’t do anything … Read more