The rising value of the dollar is hurting American businesses and could ultimately result in a slowdown in future U.S. growth, BlackRock chief executive officer Larry Fink warned in a letter scheduled to go out to shareholders next week.
Brent crude oil fell below $58 a barrel on Tuesday on signs of growing oversupply as Iranian officials visited Beijing to seek more oil sales following the framework nuclear deal that could lead to the lifting of sanctions.
Ultra bears are throwing in the towel as a bottom in crude oil is starting to develop. Oil prices soared after a dismal jobs report and signs that demand in Asia is improving, and the hopes of a quick return of Iranian oil to the market is off the table. Hedge fund and speculators are now embracing the long side as the prediction of and the resumption of the epic crude price collapse is now not very likely.