LONDON—Shares slipped and the dollar hung off recent highs on Tuesday as investors eyed U.S. inflation data due a day later that will likely yield clues to any further aggressive Federal Reserve rate hikes. The stakes are high for the July U.S. consumer prices report on Wednesday after an unexpectedly strong U.S. jobs data last…
Flush With Cash, Pfizer Buys Global Blood Therapeutics in $5.4 Billion Deal
August 8, 2022
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Pfizer Inc. is boosting its pipeline with a $5.4 billion deal for blood disorder drugmaker Global Blood Therapeutics, the latest in a series of acquisitions to combat a potential slowdown in COVID-19 products demand as cases fall. Pfizer said on Monday it will pay $68.50 per share, representing a premium of 7.3 percent to Global…
Dollar Edges Lower as Currency Markets Pull Back on Friday’s Moves
LONDON—The dollar fell on Monday, losing some of the gains it had made from Friday’s U.S. jobs data, as currency markets pulled back on their initial reaction and waited for Wednesday’s inflation data to give more clues about the Federal Reserve’s next steps. Higher-than-expected U.S. employment figures last week saw the dollar strengthen against major…
Oil Stays Near Multi-Month Lows on Demand Worries
August 8, 2022
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LONDON—Oil prices inched up from multi-month lows on Monday as lingering worries about demand weakening on the back of a darkened economic outlook outweighed some positive economic data from China and the United States. Erasing earlier gains, Brent crude futures were down 51 cents, or 0.5 percent, at $94.41 a barrel by 0816 GMT. U.S….
World Shares Bounce After US Jobs Report Sell-Off
August 8, 2022
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LONDON/SYDNEY—Shares gained ground on Monday, recovering their footing after a strong U.S. jobs report last week bolstered the case for more super-sized interest rate hikes, while the dollar weakened and government bond yields fell. Markets quickly moved to price a chance of about 70 percent that the U.S. Federal Reserve would raise rates by 75…
Food Prices Fell Again in July, UN Agency Says
August 5, 2022
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LONDON—The United Nations food agency’s world price index declined again in July, edging further away from record highs hit in March. The Food and Agriculture Organization’s (FAO) food price index, which tracks the most globally traded food commodities, averaged 140.9 points last month versus a revised 154.3 for June. The June figure was previously put…
Dollar Edges Higher Before Key US Jobs Report
LONDON—The U.S. dollar edged higher on Friday, attempting to recoup some losses after its sharpest daily drop in more than two weeks, as traders turned their attention to U.S. jobs data for further clues about the strength of the economy. The U.S. dollar index, which measures the greenback against a basket of currencies, was up…
Oil Prices Rise From Multi-Month Lows on Supply Concerns
August 5, 2022
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LONDON—Oil prices rose slightly on Friday, bouncing off their lowest levels since February, as concern over supply shortages was countered by expected declines in fuel demand. Brent crude rose 39 cents, or 0.4 percent, to $94.51 a barrel by 0900 GMT. U.S. West Texas Intermediate crude was up 27 cents, or 0.3 percent, at $88.81….
European Stocks Slip, Oil Recovers, Traders Await US Jobs Data
August 5, 2022
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LONDON—European equities slipped slightly on Friday but were still set for a weekly gain, while traders waited for U.S. jobs data due later in the session to give clues as to the health of the world’s largest economy. The MSCI world equity index, which tracks shares in 47 countries, was up 0.2 percent and on…
Dollar Edges Down as Impact of Hawkish Fed Commentary Fades
LONDON—The dollar slipped against most major currencies on Thursday as the positive impact of hawkish Federal Reserve comments faded and investors waited for more signs on the data front to confirm that more large rate hikes to curb inflation were coming. The Bank of England was widely expected to raise interest rates by the most…
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