LONDON—Oil prices eased on Tuesday, reversing earlier gains, as U.S. consumer prices unexpectedly rose in August, giving cover for the U.S. Federal Reserve to deliver another hefty interest rate increase next week. Brent crude was down 80 cents, or 0.9 percent, to $93.20 a barrel at 1254 GMT, while WTI crude fell 77 cents, or…
Oil Slips After Bearish US Economic Data
September 13, 2022
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Stocks Tumble After Inflation Stays Hotter Than Expected
September 13, 2022
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NEW YORK—Stocks are tumbling and disappointment is shaking markets worldwide Tuesday, following Wall Street’s realization that inflation isn’t slowing as much as hoped. The S&P 500 sank 2.3 percent in early trading Tuesday, threatening to snap a four-day winning streak. Bond prices also fell sharply, sending their yields higher, after a report showed inflation decelerated…
Euro Jumps on Hawkish ECB Signals, Weakening Dollar
TOKYO/LONDON—The euro jumped to a more than three-week peak versus the dollar on Monday, as European Central Bank officials argued for further aggressive monetary tightening and the greenback softened against most majors except the under-fire Japanese yen. The European common currency rose around 1.5 percent to $1.0198, its highest since Aug. 17, and well up…
Oil Prices Rise as Supply Uncertainty Mounts
September 12, 2022
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LONDON—Oil prices rose on Monday as Iranian nuclear talks appeared to hit obstacles and an embargo on Russian oil shipments loomed, with tight supply struggling to meet still robust demand. Brent crude futures rose 88 cents, or 1 percent, to $93.72 a barrel by 1100 GMT. U.S. West Texas Intermediate crude was up 69 cents,…
World Shares Advance After Wall Street’s End of Week Rally
September 12, 2022
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Shares climbed Monday in Europe and Asia after last week’s strong close on Wall Street snapped a three-week losing streak. Many Asian markets were closed for holidays. U.S. futures rose while oil prices turned higher. Investors are watching for U.S. inflation figures and Chinese economic data this week. The U.S. Labor Department will release its…
Wall Street Opens Higher on Tech Boost
Wall Street’s main indexes opened higher on Friday, boosted by technology and high-growth stocks, while investors awaited key inflation data next week for clues on the pace of interest rate hikes by the Federal Reserve. The Dow Jones Industrial Average rose 101.70 points, or 0.32 percent, at the open to 31,876.22. The S&P 500 opened…
Dollar Set for Weekly Fall as Euro Bounces on ECB Hike
September 9, 2022
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LONDON—The dollar was on track for its first weekly fall in four on Friday, as a hawkish rate hike from the European Central Bank lifted the euro and investors looked to U.S. inflation data early next week. The dollar lost ground across the board, with the dollar index—which tracks the greenback against six major peers—falling…
Oil Supported by Supply Threats yet Still Set for Weekly Drop on Demand Fears
September 9, 2022
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LONDON—Oil rose on Friday supported by real and threatened cuts to supply, although crude was set for a second weekly decline as aggressive interest rate hikes and China’s COVID-19 curbs weighed on the demand outlook. Russian President Vladimir Putin has threatened to halt oil and gas exports to Europe if price caps are imposed and…
Global Shares Higher on Wall Street Rise, Fed Chair Comments
September 9, 2022
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TOKYO—Global stock benchmarks rose Friday, as comments from the U.S. Federal Reserve chairman assured markets that interest rate increases will likely be within expectations. France’s CAC 40 added 0.7 percent in early trading to 6,168.33, while Germany’s DAX gained 0.9 percent to 13,014.33. Britain’s FTSE 100 rose nearly 1.1 percent to 7,338.96. U.S. shares were…
Dollar Climbs as Powell Speech, ECB Loom; Dovish Lowe Hits Aussie
TOKYO—The dollar hovered near a two-decade high hit in the previous session on Thursday as investors looked for fresh insight on the global monetary tightening path from a European Central Bank rate decision and comments from the head of the Federal Reserve. The Aussie dollar tumbled after Reserve Bank of Australia governor Philip Lowe suggested…
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