Category: global

Stocks Slide as Rising Borrowing Costs Strike Again

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…


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…


Shares Slip on China Growth Jitters as Fed Minutes Loom

LONDON/SYDNEY—Global shares fell on Wednesday as fresh signs of China’s faltering economic recovery emerged, with traders awaiting U.S. Federal Reserve minutes and a key U.S. jobs report later in the week for clues to the central bank’s rate outlook. In quiet trade following the Independence Day holiday on Wall Street on Tuesday, European stocks slipped…


Yen Firms Amid Intervention Chatter, Trading Subdued on US Holiday

LONDON/SINGAPORE—The dollar fell slightly against the yen on Tuesday as markets remained on high alert for signs of Japanese intervention, but the broader market was placid with U.S. traders off for a public holiday. The greenback was down 0.18 percent at 1104 GMT to 144.44 yen, after rising 0.27 percent on Monday. However, the yen…


Oil Rises as Market Weighs Supply Cuts Against Gloomy Economic Outlook

LONDON—Oil prices ticked higher on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against a weak global economic outlook. Brent crude futures were up 85 cents, or 1.1 percent, to $75.50 a barrel at 0950 GMT. U.S. West Texas Intermediate crude was at $70.61 a barrel, up 82…


Stocks Drift as Investors Balance Peak Rate Hopes With Oil Price Rise

LONDON/HONG KONG—Global stocks held steady on Tuesday, as investors balanced the inflationary force of rising oil prices with hopes that central banks would not over-tighten monetary policy into a potential recession. MSCI’s broadest index of world stocks, which rose almost 6 percent last month as the U.S. Federal Reserve paused its cycle of aggressive rate…


Yen Weak, Dollar Edges Up as Traders Weigh Fed Rate Hike Path

LONDON/SINGAPORE—The yen fell on Monday to near eight-month lows against the dollar with investors saying intervention was in sight, while ahead of the 4 July holiday, the dollar edged up after U.S. economic data last week showed slightly easing inflation and consumer spending. The yen weakened 0.35 percent to 144.82, after on Friday touching its…


Oil Rallies on Saudi and Russian Supply Cuts for August

LONDON—Oil rose on Monday after top exporters Saudi Arabia and Russia announced supply cuts for August, overshadowing concern over a global economic slowdown and the potential for further increases to U.S. interest rates. Saudi Arabia on Monday said it would extend its voluntary cut of one million barrels per day (bpd) for another month to…


World Stocks Firm, Nikkei Closes at 33-year Peak

LONDON—World stocks rose to a two-week peak on Monday, with Japan’s Nikkei closing at its highest level in 33 years, drawing support from signs that cooling inflation might temper central banks’ appetite to further hike rates. European shares rallied, while U.S. equity futures pointed to a positive open for Wall Street which closes early ahead…