Oil Steadies While US Stockpile Gain Adds to Oversupply Worries

Sep 11, 2024 | Markets

Benchmark Brent has collapsed by about a fifth this quarter API reports US crude, gasoline inventories fell last week Oil steadied after a plunge to the lowest prices in more than a year, while an unexpected increase in US crude stockpiles added to concerns about an...

Morgan Stanley’s Mike Wilson Says the AI Theme Is ‘Overcooked’

Sep 11, 2024 | Markets

Technology’s transformative potential is not short-term story Traders hunker down in defensives as they seek new growth idea The artificial intelligence boom that powered the S&P 500 Index to record highs earlier this year is fizzling out, so the stock market...

US Online Grocery Prices Plunge the Most on Record in August

Sep 10, 2024 | Markets

US consumers may finally be getting some relief from their grocery bills — especially if they shop for food online. Data by Adobe Inc. shows that online grocery prices fell 3.7% in August from a month earlier, the largest decline since the firm began tracking the...

Brookfield to Offer Private Equity Product for Retail Investors

Sep 10, 2024 | Markets, Private Markets

Brookfield Asset Management plans to launch a private equity product tailored to rich individuals as the firm expands further into retail wealth. “We did it in credit, we did it in real estate, we did it in infrastructure, and now we’re doing it in private...

Ally Drops After CFO Flags Consumer Stress, Underperformance

Sep 10, 2024 | Markets

Ally Financial Inc. fell after Chief Financial Officer Russ Hutchinson highlighted intensifying credit deterioration among its borrowers and said the auto-lender may experience some underperformance. Borrowers have shown signs of vulnerability throughout the year and...