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Stocks choppy, oil higher, gas, gold lower, SEC seeks crypto authority

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To reduce oil prices, Biden’s energy policies need to be ‘certain’: Sen. Grassley

Iowa Republican Sen. Chuck Grassley argues that the Biden administration is constantly ‘up and down’ with his energy policies.

Posted by FOX Business Team

Fed's Brainard hints at aggressive policy tightening as inflation roars

Federal Reserve Governor Lael Brainard suggested on Tuesday that central bank policymakers could soon move aggressively to tighten policy as it seeks to cool red-hot inflation.

Posted by FOX Business Team
Breaking News

Stocks extend losses

Posted by FOX Business Team

Senate to begin debate on Judge Ketanji Brown Jackson's nomination

Three GOP Senators announce support for Judge Ketanji Brown Jackson's Supreme Court nomination. Fox News congressional correspondent Chad Pergram with the latest.

Posted by FOX Business Team

EU planning to sanction 2 of Putin's daughters in latest round of restrictions

The European Union has proposed sanctioning two of President Vladimir Putin's daughters, according to diplomats familiar with the plan, a move that would add the Russian leader's closest family members to a growing list of individuals sanctioned in an effort to pressure Moscow over its invasion of Ukraine.

EU member states still must approve the sanctions, which are among dozens of newly proposed targeted travel bans and asset freezes against Russian business people, politicians, officials and their families.

Posted by FOX Business Team

Carnival posts best-ever booking week as CDC drops COVID cruise ship warning

Carnival Cruise Line said Monday that March 28 to April 3, 2022 marked the best booking week in the company's history. The cruise line noted that the week showed a double-digit increase from the previous record seven-day booking total. 

Posted by FOX Business Team

Elon Musk adds $1B to fortune with Twitter investment as shares soar

Tesla CEO Elon Musk likely added $1 billion to his already massive fortune this week after taking a 9.2% stake in Twitter.


Shares of the social media giant are up 4% during Tuesday's trading session after surging over 25% on Monday.

Posted by FOX Business Team

US stocks fall on Brainard comments, oil slightly higher

I:DJI$34,887.67-34.21 -0.10%

U.S. stocks are trading lower after Federal Reserve Governor Lael Brainard said the central bank would "continue tightening monetary policy methodically through a series of interest rate increases" and start to reduce the balance sheet at a rapid pace as early as May. 

Posted by FOX Business Team
Breaking News

Elon Musk to join Twitter's board of directors

Elon Musk will join Twitter's board of directors, CEO Parag Agrawal said.

Posted by FOX Business Team

Crypto prices mostly higher early Tuesday morning

Cryptocurrency prices were trending higher early Tuesday morning.

Bitcoin was trading at $46,672, up 1.11%. Ethereum and Dogecoin were also higher, Coindesk reported, trading at $3,524 (+0.92%) and 15.1 cents (+4.9%), respectively.

Meanwhile, The Wall Street Journal reported the Securities and Exchange Commission is studying ways to make it more feasible for cryptocurrency trading platforms to register with the agency as exchanges, Chairman Gary Gensler said Monday.

Posted by Jack Durschlag

Gasoline prices trending lower Tuesday

The average price for a gallon of gasoline in the U.S. slipped on Tuesday to $4.176, according to the latest numbers from AAA.

The price on Monday was $4.189.

The previous record high was $4.33, set on Friday March 11, 2022.

Posted by Jack Durschlag

US stocks continue to whipsaw overnight; investors scoop up tech stocks


U.S. stocks were choppy overnight, whipsawing between negative and positive territory for most of the time.

U.S. stocks climbed Monday as investors scooped up some of the technology stocks that came under pressure to start the year.

The tech-focused Nasdaq Composite Index gained 271.05 points, or 1.9%, to 14532.55, while the S&P 500 added 36.78 points, or 0.8%, to 4582.64. The Dow Jones Industrial Average rose 103.61 points, or 0.3%, to 34921.88.

The indexes have rallied over the past three weeks after the Federal Reserve raised interest rates for the first time since 2018 in a bid to curb inflation. The S&P 500 and the Dow industrials are about 5% below their January highs, while the Nasdaq is off about 10% from November's record. 

Posted by Associated Press

Amazon considered creating app for its workers and blocking words like 'union': report

AMZN$3,366.93+95.73+2.93% Inc staff included the words "union," "grievance," and "living wage" on a preliminary list of terms to block from an internal messaging app it was considering creating to boost worker morale, The Intercept reported on Monday.

The news fueled concern about the retailer's approach to organized labor, days after employees at a warehouse in Staten Island, New York, voted to form Amazon's first union in the United States.

The Athena Coalition, a labor and activist group that is critical of Amazon, posted on Twitter, "This needs to stop."

Posted by Reuters

Oil rises as Russian crude export disruptions deepen

Oil was trading higher in early Asian trading on Tuesday, April 5, 2022, as Russian crude export disruptions deepen, which would likely tighten the oil-market balance and place more persistent upward price pressures, Fitch Solutions reported. 

The ongoing Russian invasion of Ukraine is also raising the risk premium and keeping crude prices high, Fitch added. 

The oil market is already very tight as indicated by the futures curve, which is pricing in a lower cost of crude in coming months compared with spot prices, Fitch said.

Posted by Dow Jones Newswires

Gold lower early Tuesday

Gold edged lower in early Asian trading Tuesday as expectations of further Fed rate rises weigh on the precious metal, Oanda said.

Recession risks are also in focus. The inversion of the U.S. yield curve – where two-year yields are higher than 10-year yields – is "now clear for all to see and has previously been a fairly reliable recession indicator," Oanda said.

That said, "it doesn't offer any kind of specific timeline and there are doubts about its reliability in an enormous Fed balance sheet world," Oanda added. 

Posted by Dow Jones Newswires

SEC weighs path forward for crypto trading platforms


The Securities and Exchange Commission is studying ways to make it more feasible for cryptocurrency trading platforms to register with the agency as exchanges, Chairman Gary Gensler said Monday.

Gensler has been urging crypto-trading platforms such as Coinbase Global Inc. to submit to SEC oversight for months, saying the firms allow investors to buy and sell assets that meet the legal definition of securities. The trading platforms have refused. They dispute the assertion that they list securities and cite a variety of technical reasons why they view SEC regulation as impractical.

"These crypto platforms play roles similar to those of traditional regulated exchange," Gensler said in a speech for an event hosted by the University of Pennsylvania’s law school. "Thus, investors should be protected in the same way.

Coinbase declined to immediately comment when reached Monday.Though they call themselves exchanges, crypto-trading platforms differ from regulated securities exchanges in a number of ways.

Posted by The Wall Street Journal

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