Commodities

Oil hits $70 for first time since October 2018

West Texas Intermediate crude oil hit $70 a barrel for the first time in two and a half years as traders balanced the reopening of the global economy and OPEC’s recent decision on production.

US durable goods orders drop 1.3% in April

U.S. orders for big-ticket manufactured goods dropped unexpectedly in April for the first time in 11 months as a shortage of computer chips disrupted auto production.

Inflation posturing divides investors

Investors are positioning for the risk of higher inflation as the reopening of the U.S. economy gathers steam, but may not be prepared if the worst of the price increases has already run its course.