OPEC+ sticks to 2023 oil production targets as Saudi Arabia announces further voluntary cuts
OPEC+ ministers met on Sunday to agree further oil production policy steps amid depressed oil prices.
Financial News
‘Everyone can see the reality’ in Ukraine except for Putin, UK defense minister says
British Defense Minister Ben Wallace on Friday said Vladimir Putin is “at risk of losing everything” if Russia does not withdraw its forces from Ukraine.
OPEC+ prepares for weekend meeting after Saudi warns speculators to ‘watch out’
Saudi energy minister Prince Abdulaziz bin Salman has urged oil market speculators to “watch out.”
British PM Rishi Sunak says Ukraine’s rightful place is in NATO
U.K. Prime Minister Rishi Sunak said Thursday that Ukraine’s “rightful place” is within the NATO military alliance.
ECB’s de Guindos warns financial markets are vulnerable to a sharp sell-off
The European Central Bank’s May Financial Stability Review warned that the euro area’s stability outlook remains fragile.
Nvidia hits $1 trillion market cap
Nvidia hit a $1 trillion market cap at the market open Tuesday, buoyed by an AI frenzy and a massive earnings beat.
Putin congratulates ‘dear friend’ Erdogan as NATO’s Turkey challenge looks set to stay
Erdogan leads a country that’s home to NATO’s second-largest military, but also has a friendly and growing relationship with Russia’s Vladimir Putin.
White House and Republicans reach a tentative deal to avoid U.S. default
House Republicans have reached a tentative deal with the White House to address the nation’s debt ceiling and avoid a default.
Treasury now says it could run out of money June 5, buying time for debt ceiling talks
Treasury Secretary Janet Yellen said Friday that the United States will likely have enough reserves to push off a potential debt default until June 5.
A U.S. recession would be ‘good news’ for markets, strategist says
A U.S. recession may prevent a steep market downturn in the second half of 2023, according to Michael Yoshikami, founder and CEO of Destination Wealth Management.