Glencore Metals Traders Made Record Profits as Energy Cratered
The results highlight the differing fortunes of the two markets: in metals, physical traders have been enjoying the best conditions in a generation, as President Donald Trump's threat of tariffs spurred a giant premium between US and global copper prices, while tight markets for semi-processed concentrates and soaring precious metals prices have also inflated trading profits.
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The Wall Street Journals' News Archive for August 17, 2025
Find what you're looking for Search for topics like "tariffs", your favorite authors, companies or even a more specific query like "dollar's role as a reserve currency".
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The economist who thinks the US is on the verge of a recession tells us how he sees a potential downturn playing out
Moody's chief economist Mark Zandi has made it clear he's concerned about the US economy. He recently said that the US is "on the precipice of recession." While he doesn't think we're in one yet, he thinks that tougher days likely lie ahead. Mark Zandi sees trouble ahead for the US economy. The Moody's Analytics chief economist recently predicted in a post on X that the US economy is on the brink of recession following some of the latest economic data. While Zandi later noted that he doesn't think the US economy is in a recession yet, there are certain industries that have already entered one. Yet, that's just one of the reasons he thinks that the US economy is headed for harder times. Zandi spoke with Business Insider about his outlook and how deep he thinks a recession could be. Here's what he's seeing ahead. Policy headwinds Zandi reiterated his initial argument to Business Insider, which is that the economy is under pressure from tariffs and restrictive immigration policy. "I think the slowdown in growth and the acceleration of inflation is due entirely to economic policy," he said, adding that he believes the Department of Government Efficiency cuts had also contributed to a degree, and described Federal Reserve policy as a headwind. From Zandi's point of view, all of these factors have pushed economic uncertainty to extremely high levels, delaying business investment and new hiring. "These things aren't enough to push businesses to start laying off workers or curtailing investment, but they've been enough to cause businesses to put things on hold," he said. On the subject of tariffs, Zandi said there's no question that they're being felt, and will be felt even more in the future, by consumers. While tariff impacts have been somewhat mild so far, prices are rising. "In my view, the tariffs are substantive," he said. "They're slowly but still being passed through, and that'll become vividly clear in the next few months, as the tariffs get fully passed through to consumers." How bad could a recession get? Zandi noted in a recent X post that he sees a recession as characterized by a period of consistent declines in job growth that lasts for at least a few months. He added that by that definition, the US economy is not in a recession yet. That said, Zandi said he thinks that is impossible to forecast exactly when the recession will hit and how bad it will be. That's especially true now, due to the highly unpredictable nature of President Donald Trump's economic policies. "The reason why the economy is on the precipice of recession is policy. If we go into recession, just how deep and long the recession will be will be because of policy," he stated. Zandi added that several industries are in fact already in a recession, including construction and manufacturing. He also addressed the possibility that a September rate cut might lead to further economic stability, raising a different perspective. "The actual rate cuts themselves may not have as much of a benefit as one might think, because they've already been anticipated and discounted," he noted. "It'll help cushion the weakening of the economy, but it won't stop [it]. How should investors navigate a downturn? Zandi said that while some asset classes could hold up better than others, there may be no safe havens if the downturn is severe. "If history is a guide, then we should see long term rates come in a bit, and that should help bond prices and bond values" he stated. "But in a recession, no asset class is safe." That doesn't mean the next recession will play out in exactly that fashion, though. Zandi reiterated his view that everything comes down to economic policy, which remains unpredictable. He also said that if tariffs continue to increase, it could undermine the kind of safe-haven status that US assets like Treasurys and the dollar have long enjoyed. Zandi has said that it is not clear if an economy is in recession until after it has happened, but he thinks that if the US tips into a downturn, changes to the economic policies that caused it will signal when the recession is ending. "If it feels like we're coming to the end of the tariff increases, or like we're going to get a more rational immigration policy,' I think that would be a signal that the coast may be cleared," he said. Though, as he also said in his posts on X, it appears unlikely that a policy shift is coming soon. Read the original article on Business Insider
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If You'd Invested $1,000 in SHIB 5 Years Ago, Here's How Much You'd Have Today
Key Points Shiba Inu originally launched as a meme coin embracing humor and internet-driven virality, much like its counterpart Dogecoin. Unlike Dogecoin, Shiba Inu has rolled out a number of applications that have real-world utility beyond peer-to-peer payments. Over the last five years, the price of Shiba Inu token has fluctuated substantially. 10 stocks we like better than Shiba Inu › When most people begin investing, their portfolios consist solely of the basics -- stocks, bonds, and cash. Cautious newcomers might even sidestep individual stock picking in favor of passive vehicles like exchange-traded funds (ETFs) or mutual funds. Over time, as investors gain confidence and learn more sophisticated strategies, they might branch out into alternative assets such as real estate, commodities, or collectibles. In recent years, however, a new contender has entered the alternative asset conversation: cryptocurrency. Both prominent stock market personalities and institutional funds have embraced the idea of digital assets as a slice of diversified portfolio allocation. While heavyweights such as Bitcoin and Ethereum dominate the spotlight, a wave of highly speculative tokens have captured the attention of retail investors. Among them is Shiba Inu (CRYPTO: SHIB), a meme coin with a dedicated fanbase online, a beloved dog mascot, and playful endorsements from high-profile figures such as Elon Musk. Let's explore the dynamics of the token, and assess if buying Shiba Inu at its launch five years ago has paid off. What is Shiba Inu coin? At its core, Shiba Inu is an altcoin created in homage to another internet favorite, Dogecoin. Launched in 2020 by a team of anonymous developers collectively known under the pseudonym Ryoshi, Shiba Inu's original purpose leaned more toward capitalizing on culture-driven trends and meme-fueled hype rather than serving as a prudent investment vehicle. Where it differs from Dogecoin, however, is in its technical foundation and subsequent product ecosystem. Unlike Dogecoin, Shiba Inu runs on the Ethereum blockchain network as an ERC-20 token. This is an important differentiator, as the Ethereum architecture provides Shiba Inu with access to a broad suite of sophisticated utilities beyond simple decentralized payments. One of its major offerings is ShibaSwap, a decentralized exchange (DEX) where users can trade the SHIB token, stake their positions to earn rewards, and even engage with metaverse-adjacent projects -- including initiatives featuring non-fungible tokens (NFTs). Is Shiba Inu a good investment? In theory, Shiba Inu's expansion into numerous applications across decentralized finance (DeFi) should help position the token beyond the speculative nature of meme culture. Let's take a look at Shiba Inu's price action since it launched to get a sense if these investments have helped the token transcend its affiliation with meme culture. Since its debut about five years ago, the price of Shiba Inu token has fluctuated dramatically, with volatility levels outpacing the turbulent norms of the cryptocurrency market. Unlike mainstream opportunities like Bitcoin, Ethereum, or XRP, the price of Shiba Inu has never traded for more than mere fractions of a penny. According to data from CoinMarketCap, Shiba Inu's price when it launched hovered around $0.00001008. In 2021, the token rose by more than 770% to a whopping $0.000088 following its listing on Coinbase. As of this writing on Aug. 14, Shiba Inu trades for $0.000013, representing a 29% gain from its launch price. That means a $1,000 investment at Shiba Inu's debut would be worth about $1,290 today. While this is respectable, it vastly underperforms the gains seen across the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) over the same time frame. Should you invest $1,000 in Shiba Inu right now? Before you buy stock in Shiba Inu, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Shiba Inu wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,155!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,106,071!* Now, it's worth noting Stock Advisor's total average return is 1,070% — a market-crushing outperformance compared to 184% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 13, 2025 Adam Spatacco has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin, Ethereum, and XRP. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy. If You'd Invested $1,000 in SHIB 5 Years Ago, Here's How Much You'd Have Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
