SINGAPORE—The euro fell after the bloc’s business growth virtually stalled this month, as the dollar drew support from a bout of risk aversion on Friday and hawkish comments from global central banks, including the Federal Reserve. The dollar index, which measures the currency against six others, was up 0.56 percent at 102.95, reversing three straight…
Oil Resumes Slide on Demand Worries After Latest Rate Hikes
June 23, 2023
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LONDON—Oil dropped for a second day on Friday and was heading for a weekly decline, as a UK interest rate hike added to concern over economic growth that outweighed lower U.S. crude stocks and other signs of tighter supplies. Both crude benchmarks had dropped about $3 on Thursday after the Bank of England raised interest…
Stock Market Today: Asian Shares Sink as Central Banks Crank Interest Rates Still Higher
June 23, 2023
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BANGKOK—Asian shares sank sharply Friday after several central banks around the world cranked interest rates higher in their fight against inflation. Hong Kong and Tokyo shed nearly 2 percent and most other regional markets declined. U.S. futures and oil prices also were lower. Japan reported its inflation rate was higher than expected, adding to expectations…
Stock Market Today: Wall Street Drifts as Central Banks Keep Cranking Interest Rates Higher
NEW YORK—Stocks drifted to a mixed finish on Wall Street Thursday as central banks around the world keep cranking interest rates higher in their fight against inflation. The S&P 500 rose 16.20, or 0.4 percent, to 4,381.89, even though the majority of stocks fell. A rebound for technology stocks helped to overshadow losses elsewhere in…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 22)
June 22, 2023
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Benchmark U.S. crude oil for August delivery fell $3.02 to $69.51 a barrel Thursday. Brent crude for August delivery fell $2.98 to $74.14 a barrel. Wholesale gasoline for July delivery fell 7 cents $2.55 a gallon. July heating oil fell 9 cents to $2.47 a gallon. July natural gas rose 1 cent to $2.61 per…
How Major US Stock Indexes Fared June 22
Stocks drifted to a mixed close on Wall Street after central banks around the world showed they’re not done cranking interest rates higher in their fight against inflation. The S&P 500 rose 0.4 percent Thursday. Most stocks in the index fell, but gains from some big technology stocks countered losses elsewhere. The Nasdaq rose 1…
A.I. Hype Similar to 1999, But Be Careful Calling it a Bubble: Investor
The stock market has been soaring for most of this year, with much of the gains due to excitement surrounding artificial intelligence. Nvidia’s stock alone is up more than 200 percent this year. Many investors are comparing what’s happening now to the dot-com bubble of the early 2000s. But it is really a bubble this…
Top Executive for Bud Light Parent Wins ‘Creativity’ Award, Despite Losing $20 Billion Over Trans Fiasco
June 22, 2023
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The top marketing executive for Bud Light parent Anheuser-Busch InBev won the “Creative Marketer of the Year” award, despite costing the company $20 billion over its recent transgender fiasco. Bud Light has lost billions of dollars in revenue due to massive boycotts after the beer company decided to pair the brand with transgender activist Dylan Mulvaney, who…
It’s the Methane, Stupid: Washington Rhetoric on Climate Misses the Biggest Target
June 22, 2023
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Commentary There are two aspects of the climate policies coming out of Washington and various state capitals that trouble me. The first is that officials set ostensivsely arbitrary and ambitious deadlines with little evidence they can be achieved. I’m always stunned that politicians can march before the microphones and boldly state that “by 2030, we will…
Weekly US Applications for Unemployment Aid Remain Relatively Elevated
The number of Americans applying for unemployment benefits remained relatively elevated last week, potentially another signal that Federal Reserve rate hikes are beginning to cool a surprisingly resilient labor market. U.S. applications for jobless claims were 264,000 for the week ending June 17, the same as the previous week’s revised number, the Labor Department reported…
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