Weekend Money Markets Roundup January 20, 2024

Pump, pump, pump pump it up! is what American oil producers have been saying for five years straight, since a prodigious increase in crude oil production in shale country helped make the US the largest crude pumper in the world. - Melvin Backman Read More

The world’s richest men—Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison, and Warren Buffett—have doubled their collective wealth to $870 billion since 2020. That’s a rate of $14 million an hour, with little sign of abatement, according to a new study (pdf) from the UK-founded charity organization Oxfam. - Morgan Haefner Read More

US retail sales data for December came in stronger than expected on Wednesday (Jan. 17), with purchases jumping 0.6% from November to $615 million instead of the mere 0.4% that forecasters had predicted. In year-over-year terms, there’s been a bit of acceleration—to 5% growth—after nearly a year of cooling off following the post-covid-19-vaccine explosion of spending. - Melvin Backman Read More

Bobbi Rebell of Financial Wellness Strategies tells Quartz the best ways to set yourself up for financial success in the new year

David Dietze, senior investment strategist of Peapack Private Wealth Management, tells Quartz why Pfizer, Exxon, and Walgreens could be great investments