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U.S. stock futures declined Monday morning following global equities lower, as concerns over an escalating COVID outbreak in China added to jitters over U.S. economic growth in the face of heightened inflation and monetary policy tightening. Contracts on the S&P 500 fell by nearly 1% ahead of the opening bell, as the index looked to add to last week’s losses. The Dow and Nasdaq each also headed for lower opens. U.S. Treasury yields dropped, and the benchmark 10-year yield hovered just above… Source link

(Bloomberg) — Palm oil slumped on prospects that top producer Indonesia’s surprise ban of cooking oil exports will not be strict as feared. Most Read from Bloomberg Indonesia will only halt exports of bulk and packaged RBD palm olein, a higher value product that has been processed. Exports of crude palm oil and RBD palm oil will still be allowed, according to people familiar with the matter. RBD olein accounts for 30% to 40% of Indonesia’s total palm oil exports. Benchmark futures… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, April 25, 2022 Tired of Wall Street talking heads pounding fears of recession into your overloaded brain day after day this month? So am I. There are valid reasons why some folks on the Street are calling for a recession later this year or early next year. Models being toyed around with by pros are outputting increasing recession risk…. Source link

(Bloomberg) — Fears about the economic toll of China’s strict Covid Zero policy intensified Monday, as news that lockdowns were spreading to Beijing sent stocks, commodities and the yuan tumbling. Most Read from Bloomberg The benchmark CSI 300 Index closed nearly 5% down to the lowest level since April 2020, wiping out gains from a sweeping March pledge by officials to support the economy. The onshore yuan slumped to its weakest level in 17 months on concerns about rising capital outflows… Source link

Indonesia, a top palm-oil exporter, is planning to ban exports beginning on Thursday. Palm oil, the world’s most used vegetable oil, is used in cooking and a range of consumer products. Palm-oil and competing soybean-oil prices are jumping after news of the ban. The world’s top palm-oil producer announced that it would ban exports of the commodity starting on Thursday, sending the prices of edible oils soaring. Indonesia accounts for about half of the world’s supply of palm oil, the world’s most… Source link

(Bloomberg) — As China’s markets gyrate following Covid outbreaks and Russia’s invasion of Ukraine, one of the nation’s best-performing macro hedge funds is bracing for more pain. Most Read from Bloomberg Shanghai Banxia Investment Management Center, which topped local rankings in 2020, has cut its stock exposure to zero in anticipation of a worsening economy and further declines in equities, founder Li Bei said. The fund, which manages more than 5 billion yuan ($785 million), has also… Source link

Pallbearers carry the casket of the Steelers’ Dwayne Haskins from a memorial service on Friday in Pittsburgh. (AP Photo/Keith Srakocic) POTOMAC, Md. — Standing at the center of the prep football field that Dwayne Haskins Jr. once graced, his sister Tamia, with tears assembling in her eyes, told of a caring brother and “lifelong best friend” who doubled as Bullis High School’s rowdiest theatergoer. To millions, Haskins was a superstar quarterback. To Tamia, he was a secret sharer, a… Source link

WATCH THE VIDEO ABOVE to see today’s piping-hot, fresh-outta-the-oven episode of THE RUSH with Jared Quay! We’ll let you know everything you didn’t know you needed to know about sports. Other stuff too. But mostly sports. It’s Monday, April 25, 2022, and here’s what Jared is cookin’ up: Thanks to Nikola Jokic seeing into the future, the Denver Nuggets staved off elimination by beating the Golden State Warriors in Game 4, 126-121 The Bucks beat up the Bulls: 119-95, the Heat scorched… Source link

Brett Favre talks to the Atlanta Falcons from his bedroom in Fenton, Mississippi, on NFL draft day April 21, 1991. Favre was drafted in the second round by the Falcons, and later trade to the Packers. (Photo by Tim Isbell/Biloxi Sun Herald/Tribune News Service via Getty Images) On the morning of the 1991 NFL draft, Tim Isbell followed an unpaved road deep into the piney woods of the Mississippi Gulf Coast. The Biloxi Sun Herald photographer kept driving until he reached a ranch-style house a… Source link

When the Brooklyn Nets announced that Ben Simmons wouldn’t play in Game 4 as he’d planned, there was a lot to say. His return had been hyped for weeks, and after he woke up with back soreness Sunday, it all amounted to nothing. He wouldn’t be in the game to help the Nets try to come back from a 3-0 series deficit. He wouldn’t be making his Nets debut until likely October, eight months after he was traded. Social media was brimming with people ready to torch Simmons. One of the most notable… Source link