LONDON—The dollar hovered around multi-week lows against the euro and sterling on Wednesday, after unexpectedly soft U.S. inflation data cemented the view that the Federal Reserve will not raise interest rates later in the day. China’s yuan sagged to a 6–1/2-month trough after the central bank cut rates, and as speculation mounts that even more…
Oil Rises as Market Awaits Fed Interest Rate Decision
LONDON—Oil prices rose on Wednesday as investors awaited the outcome of the U.S. Federal Reserve’s June meeting after bullish oil demand growth forecasts from the International Energy Agency (IEA) and OPEC. Brent crude futures were up 76 cents, or 1 percent, at $75.05 a barrel by 0916 GMT. U.S. West Texas Intermediate (WTI) crude was…
Stocks Edge Higher, Dollar Sags Eyeing Fed Pause
June 14, 2023
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Global shares edged higher and the dollar held near three-week lows on Wednesday as traders were all but certain that the U.S. Federal Reserve will refrain from hiking interest rates later in the session. Overnight, the much-watched U.S. CPI report showed prices barely rose in May, with just a 0.1 percent increase from the prior…
Janet Yellen Warns De-Dollarization Efforts Will Grow as Countries Seek Currency Alternatives
The U.S. dollar’s international status as the chief reserve currency is slowly diminishing as other countries diversify their assets, warns Treasury Secretary Janet Yellen. During a Housing Financial Services Committee on June 13, multiple Republican and Democratic lawmakers lobbed questions surrounding the risk of the worldwide de-dollarization campaign that has accelerated over the past year….
US Stocks End Higher as Inflation Data Cements Bets on Rate Hike Pause
The S&P 500 and Nasdaq reached their highest closes in 14 months on Tuesday after data showed consumer prices rose modestly in May, boosting bets that the Federal Reserve will not raise interest rates on Wednesday. Nvidia jumped 3.9 percent, becoming the first chipmaker to end a trading session with a market capitalization above $1…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 13)
June 13, 2023
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Benchmark U.S. crude oil for July delivery rose $2.30 to $69.42 a barrel Tuesday. Brent crude for August delivery rose $2.45 to $74.29 a barrel. Wholesale gasoline for July delivery rose 8 cents $2.56 a gallon. July heating oil rose 9 cents to $2.40 a gallon. July natural gas rose 7 cents to $2.34 per…
How Major US Stock Indexes Fared June 13
Stocks climbed after a cooler reading on inflation bolstered Wall Street’s expectations that the Federal Reserve will hold off on another interest rate hike this week. The S&P 500 rose 0.7 percent Tuesday, touching heights unseen since April 2022. The Dow Jones Industrial Average gained 145 points, while the Nasdaq composite rose 0.8 percent. Stocks…
Target Stores in Five States Evacuated After Bomb Threats
June 13, 2023
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Several Target locations throughout the country were reportedly threatened after receiving bomb threats. Target stores were briefly evacuated in the Oklahoma City metropolitan area on June 10, after receiving what local law enforcement described as “vague bomb” threats, allegedly over the retail chain’s Pride Month merchandise. Locations in at least five states were also evacuated…
Dollar Sags Before Inflation Data, Yuan Weakens on Rate Cut
LONDON/SINGAPORE—The dollar fell slightly on Tuesday as investors awaited U.S. inflation data, while China’s yuan slipped to a six-month low after the central bank lowered a short-term lending rate to boost the economy. The euro was up 0.42 percent to $1.08 on Tuesday, after touching its highest since May 23 earlier in the session at…
Shares Get a Boost From Tech; Dollar Dithers Ahead of Inflation Data
June 13, 2023
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LONDON—Global shares rose on Tuesday, taking their lead from an upbeat session on Wall Street ahead of key U.S. inflation data that could shape the outlook for Federal Reserve monetary policy. Consumer inflation on Tuesday and wholesale data on Wednesday could offer investors evidence of how successful the Fed has been in taming price pressures,…
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