LONDON—World stocks extended their gains on Friday, on track for their biggest weekly rise this year, while the dollar held near 15-month lows as investors bet that the U.S. Federal Reserve was nearing the end of its rate-hiking cycle. Data on Wednesday showed U.S. consumer prices growing at their slowest pace in more than two…
World Stocks Hit New 2023 Highs After Rally on Inflation Data
July 14, 2023
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Home Prices Hit Record High As Housing Supply Shortage Worsens
July 14, 2023
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Business & Marketseconomic policieseconomyhome priceshousing supplyinflationInvestmentMarketsreal estateUSUS NewsUS Real Estate
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Home prices hit a record high again in May, amid a worsening supply shortage in the housing market. The sharp jump in mortgage interest rates in last year caused an overheated housing market to slow down, but the slump did not last long. The cost for a home, which has been rising since the start…
Stock Market Today: Wall Street’s Winning Week Stays Perfect as Inflation Eases Further
NEW YORK—Wall Street’s winning streak barreled into a fourth day Thursday following the latest signal that inflation is easing its chokehold on the economy. The S&P 500 rose 37.88, or 0.8 percent, to 4,510.04 and its highest close since April 2022. The Dow Jones Industrial Average rose 47.71, or 0.1 percent, to 34,395.14, and the…
Closing Prices for Crude Oil, Gold, and Other Commodities (July 13)
July 13, 2023
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Benchmark U.S. crude oil for August delivery rose $1.14 to $76.89 a barrel Thursday. Brent crude for September delivery rose $1.25 to $81.36 a barrel. Wholesale gasoline for August delivery rose 1 cent $2.68 a gallon. August heating oil rose 1 cent to $2.61 a gallon. August natural gas fell 8 cents to $2.55 per…
How Major US Stock Indexes Fared July 13
Wall Street’s winning streak barreled into a fourth day following the latest signal that inflation is easing its chokehold on the economy. The S&P 500 rose 0.8 percent Thursday for its highest close since April 2022. The Dow Jones Industrial Average rose 0.1 percent, and the Nasdaq composite rallied 1.6 percent as Big Tech stocks…
US Oil Reserve Won’t Be Replenished for Several Years: Top Official
July 13, 2023
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Business & Marketseconomic policiesenergyExecutive BranchGold and CommoditiesJennifer GranholmMarketsOilPoliticsUSUS News
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The White House will not refill the Strategic Petroleum Reserve in the near future after millions of barrels were drawn last year, said U.S. Secretary of Energy Jennifer Granholm in a recent interview. It was announced last October by the Biden administration that it would re-buy crude oil when prices reach between $67 and $72 per barrel,…
US Wholesale Prices for June Point to Further Easing of Inflation Pressures
WASHINGTON—Wholesale prices in the United States decelerated again last month, the latest sign that inflationary pressures are easing in the face of the Federal Reserve’s streak of interest rate hikes. The government’s producer price index—which measures inflation before it reaches consumers—rose just 0.1 percent last month from June 2022, the smallest such increase since August…
US Applications for Jobless Benefits Fall Again as Labor Market Continues to Defy the Fed Actions
The number of Americans applying for jobless benefits fell again last week as the labor market continues defy the Federal Reserve’s attempt to cool it through higher interest rates. U.S. applications for jobless claims fell by 12,000 to 237,000 for the week ending July 8, from 249,000 previous week, the Labor Department reported Thursday. The…
Wall Street Opens Higher on Signs of Disinflation
Wall Street’s main indexes opened higher on Thursday after producer prices data provided further evidence of inflation cooling in the world’s largest economy, and stoked hopes that the Federal Reserve will soon end its monetary policy tightening. The Dow Jones Industrial Average rose 64.88 points, or 0.19 percent, at the open to 34,412.31. The S&P…
Global Public Debt Hits Record $92 Trillion: UN Report
LONDON—Global public debt surged to a record $92 trillion in 2022 as governments borrowed to counter crises, such as the COVID-19 pandemic, with the burden being felt acutely by developing countries, a United Nations report said. Domestic and external debt worldwide has increased more than five times in the last two decades, outstripping the rate…
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