A drone strike on a US-owned gas-storage tanker moored in an Egyptian port has underlined the precarious nature of the global energy market again.
Brent crude futures jumped 8%, back above $US90/barrel, and the US WTI benchmark rose 7%.
Reuters is reporting the drone hit floating storage tanker Energos Winter,
Stocks fell sharply Wednesday as the Federal Reserve held interest rates steady again despite continued inflation pressure.
The Dow Jones Industrial Average closed down 1,153.18 points, or 2.19 percent, for its worst decline since April 2025 — when President Trump unveiled his sweeping “Liberation Day” tariffs.
» Read more about: Dow sinks 1,100 points after Fed holds off on hike »
During his first press conference last month, Federal Reserve Chair Kevin Warsh announced five task forces to review key areas of the central bank’s policymaking.
The panels will examine the Fed’s approach to inflation, communications, economic data, productivity and the labor market, as well as the central bank’s balance sheet, which Warsh has long argued is too large.
The Federal Reserve on Wednesday kept interest rates unchanged despite growing pressure to more directly tackle inflation after five years of overshooting the central bank’s 2 percent target.
The Fed voted 9-3 to maintain rates at 3.5 percent to 3.75 percent, a level that has been in place since January.
» Read more about: Fed Leaves Interest Rates Unchanged, Despite Three Votes for an Increase »
Benchmark indices on Wall Street tanked on Wednesday, July 29, after the US Federal Reserve’s interest rate decision sent bond yields soaring and led the market to believe that inflation could remain higher for longer.
The Dow Jones fell over 1,100 points to mark its worst day since April 2025, the period of US President Donald Trump’s first tariff tantrum.
This is arguably the most important week of the third quarter for the stock market. In addition to it being the busiest week of earnings season, the Federal Reserve weighed in on interest rates, inflation, and the state of the American economy today, July 29.
While earnings reports have undeniably played a role,
It handily beat analyst estimates on both the top and bottom lines.
Investors didn’t even mind a cut in adjusted net income guidance.
One of these enterprises was Biogen(NASDAQ: BIIB),
» Read more about: Why Biogen Stock Topped the Market Today »
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There are millions of retired Americans today who rely on Social Security to make ends meet. And there are also millions of working Americans who pay into Social Security each year by having their wages taxed.
Despite the fact that Social Security takes in loads of money each year by taxing workers’ paychecks,
» Read more about: 184.7 Million People Paid Into Social Security in 2026: Why it Isn’t Enough »
Federal Reserve holds interest rates steady amid inflation concerns
The Federal Reserve voted to keep interest rates unchanged, with three officials dissenting due to persistent inflation concerns.
WASHINGTON —
The Federal Reserve voted 9-3 on Tuesday to hold interest rates steady,
» Read more about: Federal Reserve holds interest rates steady amid inflation concerns »
