Investment news
The Dow fell 2.1% before recovering some ground into the close, while the S&P 500 dropped 1.6%. The tech-dominated Nasdaq Composite slid 1.1%, posting its worst losing streak since October.
However, major indexes rebounded on Tuesday with Dow Jones Industrial Average gaining 1.5%, the S&P 1.31% and the Nasdaq Composite 1.24%.
Now, the total amount of gold held by the bank is 121.1 tons, which is equivalent to $6.873 billion.
The move comes as banks are regaining their appetite for gold: central banks from Thailand to Serbia have been increasing their gold holdings, and Ghana recently announced plans to buy the precious metal.
To catch up with inflation, BlackRock Inc. announced a wage raise by 8%, joining a bunch of other companies on Wall Street, competing to attract and keep talented employees.
Earlier this month, Citigroup Inc. raised base salaries to $100,000 for first-year analysts, along with Barclays Plc, JPMorgan Chase & Co. and Guggenheim Partners.
It’s the second-biggest U.S. tech deal this year, after Microsoft’s planned $16 billion purchase of Nuance Communications.
Take a look at the dashboard of indicators to add some clarity to the debate.
Opinion
“The market is very overpriced in terms of future earnings. We are adding debt like we’ve never seen. We have the Treasury market acting very strange with rates falling dramatically … We’re not out of the woods yet, and this is a dangerous market,” Tice said.
According to Steve Hanke, an increase in the money supply last year has “worked like a charm” in boosting the economy and, in turn, pushing asset prices to grow.
“[The 1970s] was terrible. It was the worst of all possible worlds. You have a lot of inflation and jobs are scarce. That’s not what we’re seeing now, by the way. We’re seeing inflation in a booming economy. We’re not seeing the stagflation type of thing where the real economy is weak. The real economy is very strong and booming right now as we’re coming out of lockdown and things are getting on track,” he explained.
For example, volatility, new rules on crypto gains, account-maintenance fees…
What else is happening
And there are fears that the factors that bring prices up could stay in place even after returning to pre-pandemic norms, with the world’s poorest bearing the highest cost.
Oklo said its advanced fission reactors will be able to start supplying clean energy in the early 2020s. The plan is to provide Compass with at least 150 megawatts of clean power in the first phase of the 20-year partnership deal.
The deal comes after a two-week dispute between the United Arab Emirates and Saudi Arabia, which were at loggerheads over the oil production policy.
Meanwhile, the anonymous bidder who agreed to pay $28 million for a seat on the rocket ride had a scheduling conflict and will instead fly on a future trip, the company said without elaborating.
And finally…
The Viking era “piggybank” was discovered by former police officer Kath Giles, who has already made headlines after finding a collection of gold and silver Viking jewellery.
See you next week!