Recession is challenging inflation as top fear among stock and bond investors

It’s easy to want to duck for cover given the carnage seen this year in stocks and bonds, particularly with the Federal Reserve vowing to wage an unconditional battle against high inflation. While inflation running at a 40-year high still sits near the top of the list of worries for many investors, another potential bugaboo … Read more

Dan Yergin on oil prices falling despite tight supply, Russia tensions

Energy expert Dan Yergin said there are two reasons why oil prices have dropped in the past month despite a market that is still tight: the Fed and Russia’s war in Ukraine. Oil prices had been increasing since last year, spiking to highs after Russia launched an unprovoked war on Ukraine. But since the end … Read more

Average US gas price dips below $5 a gallon

new York CNN Business — US drivers got a slight — very slight — break on prices this weekend as the AAA average for a gallon of unleaded gas fell below the $5 mark. The average price Sunday was $4.98 a gallon, down from $4.99 in Saturday’s reading. The average gas price had been $5 … Read more

Inflation and Fed sparking one way trip to market misery: Jim Bianco

Until inflation peaks and the Federal Reserve stops hiking rates, market forecaster Jim Bianco warns Wall Street is on a one way trip to misery. “The Fed only has one tool to bring in inflation and that is they have to slow demand,” the Bianco Research president told CNBC “Fast Money” on Tuesday. “We may … 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

Two more states hit $5 a gallon gas prices

new York CNN — The gas price spike keeps getting worse. The national average jumped to $4.87 a gallon on Monday, according to AAA. That’s up 25 cents in the past week and 59 cents in the past month. There are now 10 states where the average price of gasoline is $5 a gallon or … Read more

Oil prices after report on Saudi Arabia output

All eyes are on whether Saudi Arabia will raise crude production if Russia’s output significantly falls following European Union oil sanctions. Andrey Rudakov | Bloomberg | Getty Images Oil prices dropped following a report that Saudi Arabia is prepared to raise crude production if Russia’s output falls significantly following European Union sanctions. The Financial Times … Read more

Record Gas Prices Hit Americans’ Start to Summer Travel Season

Millions of Americans hit the road over Memorial Day weekend, with record high gas prices pinching their wallets. The national average price for a gallon of regular unleaded gas hit $4.62 as of Monday, according to AAA, $1.58 higher than a year earlier and about 12% above the pre-2022 high of $4.11 set in 2008. … Read more

Stocks Fall, Oil Prices Gain as EU Commits to Partial Russian Crude Ban

US stocks fell on Tuesday, resuming their downward trajectory after last week’s rally, while a pledge among European Union leaders to curb oil purchases from Russia lifted crude prices. The S&P 500 dropped about 0.6% in morning trading, a day after US markets were closed for Memorial Day. The benchmark index had risen 0.6% for … Read more

Your Memorial Day BBQ is going to cost you a lot more this year

new York CNN Business — People who got an early jump on their Memorial Day barbecue shopping may have noticed something alarming: Prices are up. Way up. Sticker shock is everywhere, from burgers to buns, from ketchup to mustard. The good news is there some Price relief at stores now. In the four weeks through … Read more