The Dow opened higher on Thursday, led by gains in planemaker Boeing, although increasing cases of the new Omicron coronavirus variant across the world continued to drive volatility in markets. The Dow Jones Industrial Average rose 54.21 points, or 0.16 percent, at the open to 34,076.25. The S&P 500 opened lower by 8.31 points, or…
Boeing Lifts Dow at Open After Omicron-Led Selloff
December 2, 2021
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Wall Street Opens Higher After Virus-Driven Rout
December 1, 2021
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U.S. stocks jumped at the open on Wednesday, recovering from a sharp sell-off triggered by concerns over rising inflation and the new Omicron coronavirus variant. The Dow Jones Industrial Average rose 195.22 points, or 0.57 percent, at the open to 34,678.94. The S&P 500 opened higher by 35.82 points, or 0.78 percent, at 4,602.82. The…
US Bond Funds See First Weekly Outflow in Over Four Months: Lipper
November 27, 2021
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U.S. bond funds posted a net outflow in the week to Nov. 24 as investors raised bets that the Federal Reserve would become more aggressive in normalizing monetary policy to fight inflation after President Joe Biden nominated Jerome Powell as chairperson for a second term. According to Refinitiv Lipper data, investors sold U.S. bond funds…
US to Sell 32 Million bbls From 4 Sites as Part of Strategic Sale
November 25, 2021
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The United States will sell 32 million barrels of crude from four Strategic Petroleum Reserve (SPR) sites to be delivered between late-December and April 2022, the Department of Energy (DOE) said as it auctions oil to try to lower global prices. International oil prices have held above $80 a barrel even after U.S. President Joe…
Oil Weakens, Focus on OPEC+ Response to US–Led Crude Release
November 25, 2021
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MELBOURNE/SINGAPORE—Oil prices edged down on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand. Brent crude futures slipped 7 cents to $82.18 a barrel at 0726 GMT, after losing 6 cents…
Global Stocks Mixed After Fed Says Ready to Act on Inflation
November 25, 2021
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BEIJING—Global stock markets mostly rose Thursday after Federal Reserve officials indicated they were ready to hike interest rates sooner than expected if needed to cool U.S. inflation. London, Tokyo, Frankfurt, and Hong Kong markets advanced, while Shanghai declined. Wall Street futures were higher. U.S. markets were closed for the Thanksgiving holiday. They reopen Friday for…
Taiwan Talks Chips, Chinese ‘Coercion’ in US Meeting
November 23, 2021
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TAIPEI—Taiwan and the United States discussed chip shortages and how to respond to China’s economic “coercion” during the second session of an economic dialogue launched last year, Taiwan Economy Minister Wang Mei-hua said on Tuesday. The talks came a week after a virtual meeting between U.S. President Joe Biden and Chinese leader Xi Jinping. After…
Futures Dip as Rising Yields Dent Tech Shares
November 23, 2021
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U.S. stock index futures fell on Tuesday as rising Treasury yields weighed on major technology stocks, while bank shares extended gains as investors priced in an early policy tightening by the Federal Reserve. Bank stocks rose in premarket trade, tracking gains in yields after Jerome Powell’s reappointment as Fed Chair raised market expectations for an…
US Bank Stocks Rise as Industry Welcomes Powell Renomination
November 22, 2021
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NEW YORK—U.S. bank stocks rose on Monday as senior bankers and industry figures welcomed Federal Reserve Chair Jerome Powell’s nomination by President Joe Biden for a second four-year term. Biden, in a statement emailed to reporters, paid tribute to the “decisive action” which the Fed had taken in response to the COVID-19 pandemic. And senior…
Theranos Founder Elizabeth Holmes Takes Stand to Defend Herself in Fraud Case
November 20, 2021
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SAN JOSE, Calif.—Theranos founder Elizabeth Holmes took the stand on Friday to defend herself against charges of defrauding investors and patients about the now-defunct blood-testing startup once valued at $9 billion. Holmes, 37, is accused of making false claims about Theranos, including that its technology could run a range of diagnostic tests more quickly and…
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