Weekly Market Recap – August 5, 2022 The Senate passed a bill to expand medical care and other benefits to 3.5 million veterans who may have been exposed to toxins from burning trash pits on U.S. military bases. As we approached press time on Sunday, the Senate passed a $430 billion bill to forward President

Weekly Market Recap – July 29, 2022 U.S. Senator Joe Manchin (D-WV) struck a deal with fellow Democrats on a climate and tax package. The Senate passed a bill to provide $52 billion in subsidies to American companies that manufacture chips and related products in a move to counter China’s huge exports of semiconductors to

Weekly Market Recap – July 22, 2022 The European Central Bank raised its three interest rates by half a percentage point. Mario Draghi resigned from his position as Italy’s prime minister. Ayatollah Ali Khamenei, Iran’s supreme leader, met with Vladimir Putin and issued a proclamation of support for Russia’s war on Ukraine. On Thursday, the

Weekly Market Recap – July 15, 2022 Inflation topped the headlines this week as soaring U.S. consumer prices hit levels not seen in 40 years, thus prompting more concerns about the anticipated rise of interest rates. COVID-19 is creeping back to the forefront in national news as cases are now multiplying in more than half

Weekly Market Recap – July 8, 2022 Shinzo Abe, Japan’s former prime minister, was assassinated while giving a public speech on Friday. On Thursday, UK Prime Minister Boris Johnson announced he would step down after a wave of resignations by cabinet officials and members of Parliament. Elon Musk indicated he would withdraw his offer to

Weekly Market Recap – July 1, 2022 The U.S. Supreme court ruled to limit the ability of the Environmental Protection Agency to regulate carbon emissions from power plants. Chief Justice John Roberts wrote that Congress had not clearly given the agency such authority. Turkey dropped its objection to allowing Sweden and Finland into NATO, which

Weekly Market Recap – June 24, 2022 The Russian ruble, which had collapsed to 139-per-U.S.-dollar after Putin invaded Ukraine, was the strongest major currency during the week. On Tuesday, the ruble traded at 54 per dollar, its best level since June 2015. On Wednesday, President Biden urged Congress to suspend the Federal tax on gasoline

Weekly Market Recap – June 17, 2022 Aiming to stem inflation, the Federal Reserve raised interest rates by three-quarters of a percentage point on Wednesday; 1994 was the last time the central bank made a move of that magnitude. The Bank of England raised rates one-quarter point, pursuing a policy more cautious than the Fed.

Weekly Market Recap – June 10, 2022 In a move to mitigate soaring inflation, the European Central bank will raise interest rates in July. The quarter-percentage-point increase will be ECB’s first rate increase since 2011. The U.S. is ending COVID-19 testing requirements for air travelers entering the country, starting on Sunday. The U.S. Department of

Weekly Market Recap – June 3, 2022 An OPEC Plus announcement on Thursday that the organization will increase crude oil production delivered a surprise: the volume of the increase was more than analysts had anticipated. Starting in July, the net rise in output by member countries will be 648,000 barrels per day. The additional barrels