Wall Street’s main indexes opened lower on Thursday as data signaling a resilient labor market and hawkish minutes of the Federal Reserve’s June meeting fanned fears the central bank could keep interest rates higher for longer. The Dow Jones Industrial Average fell 117.25 points, or 0.34 percent, at the open to 34,171.39. The S&P 500…
Dollar Gives Up Fed Gains; Yen and Pound Strengthen
LONDON—The dollar turned lower on Thursday as investors looked ahead to pivotal U.S. labor market data following minutes from the Federal Reserve’s June meeting, while a broad risk-off mood lent support to the Japanese yen. Minutes from the Fed’s meeting released on Wednesday showed that the vast majority of policymakers expect further tightening in U.S….
Oil Steadies as Market Digests Supply and Demand Outlook
LONDON—Oil prices were little changed on Thursday as the market digested tighter crude supply alongside fears of global economic slowdown. Brent crude futures edged up 29 cents to $76.94 a barrel by 0838 GMT after a 0.5 percent gain the previous day. U.S. West Texas Intermediate crude firmed by 37 cents to $72.16 after rising…
Stocks Slide as Rising Borrowing Costs Strike Again
July 6, 2023
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LONDON—World stocks fell for a third straight day on Thursday, after Federal Reserve meeting minutes bolstered bets on another U.S. rate hike this month and tit-for-tat trade salvos between China and the United States also dampened sentiment. Traders watched the traditional driver of global borrowing costs, the 10-year U.S. Treasury yield, climb to a fresh…
Stock Market Today: Wall Street Drifts Lower as Markets Worldwide Pull Back
NEW YORK—Wall Street edged lower Wednesday following a rally that had sent it roaring 16 percent higher for the year so far. The S&P 500 fell 8.77 points, or 0.2 percent, to 4,446.82 to drift lower from its highest level since April 2022. The Dow Jones Industrial Average dropped 129.83, or 0.4 percent, to 34,288.64,…
Closing Prices for Crude Oil, Gold, and Other Commodities (July 5)
July 5, 2023
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Benchmark U.S. crude oil for August delivery rose $2 to $71.79 a barrel Wednesday. Brent crude for September delivery rose 40 cents to $76.65 a barrel. Wholesale gasoline for August delivery rose 6 cents $2.52 a gallon. August heating oil rose 11 cents to $2.49 a gallon. August natural gas fell 5 cents to $2.66…
How Major US Stock Indexes Fared July 5
Wall Street edged lower following a rally that sent it roaring 16 percent higher for the year so far. The S&P 500 slipped 0.2 percent Wednesday, edging down from its highest level since April 2022. The Dow fell 129 points, or 0.4 percent. The Nasdaq gave back 0.2 percent. Other markets around the world fell…
Tyson Foods Will Remove ‘No Antibiotics’ Label on Some Chicken Products
Tyson Foods announced it will drop its “no antibiotics ever” label on some of its chicken products after it decided to reintroduce certain drugs in its chickens. This comes eight years after the Arkansas-based meat and poultry producer said it planned to remove antibiotics from its products, reported The Wall Street Journal. The largest poultry seller in…
Dollar Steady Before Fed Minutes; Yen Hovers Near 145-Mark
LONDON—The U.S. dollar held steady against other major currencies on Wednesday as traders waited for minutes from the Federal Reserve’s last policy meeting that could offer clues to the outlook for interest rates. Australia’s dollar fell in line with the Chinese yuan after data showed China’s services activity expanded at the slowest pace for five…
Brent Dips as Economic Headwinds Outweigh Supply Cuts
LONDON—Oil benchmark Brent edged lower on Wednesday as concern over a global economic slowdown overshadowed supply cuts announced this week by top crude exporters Saudi Arabia and Russia. Brent crude was down 16 cents, or 0.2 percent, at $76.09 a barrel by 1045 GMT after falling more than $1 earlier in the session. The benchmark…
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