NEW YORK—Oil prices bounced in a light-volume session on Thursday, on signs that the worst effects of the Omicron variant might be more containable than previously feared, even as countries imposed travel restrictions on surging infection levels. The oil market has wavered in recent days over how seriously to take the threat of another slump…
Oil Prices Extend Rise on Reduced Fears of Omicron-Induced Demand Slump
Oil Prices Steady as Omicron Caution Lingers
LONDON—Oil prices were steady on Wednesday as fears of tight supply were offset by COVID-19 concerns after Singapore suspended quarantine-free travel and Australia renewed its vaccination push due to a surge in Omicron variant cases. U.S. West Texas Intermediate (WTI) crude futures were unchanged at $71.12 a barrel at 1250 GMT after jumping 3.7 percent…
Oil Prices Rise but Omicron Worries Linger
LONDON—Oil prices rebounded on Tuesday after a sharp fall in the previous session as investors’ appetite for risk improved, although they remained cautious amid the rapid spread of the Omicron coronavirus variant across the globe. Brent crude was up 84 cents, or 1.2 percent, at $72.36 a barrel by 1117 GMT, and U.S. West Texas…
Commodities Outperform in 2021 Though Gold Loses Its Lustre
LONDON—Commodities outperformed other assets this year as a recovery from the pandemic boosted demand though gold’s poor showing dented investor appetite. Heading into 2022, commodities, which often perform well late in economic cycles, are due to remain competitive with equities as global growth extends its upward trek, analysts said. “We like both equities and commodities…
China’s Property Distress Sours Steel Sector in Warning Sign for Economy
BEIJING—Debt problems at a major Chinese property developer have now spilled over into a vital artery of the nation’s industrial engine—the steel sector—and started to ripple through to other critical parts of the world’s second-largest economy. The spreading balance-sheet crisis at real estate firms is a warning for policymakers as a swing in the fortunes…
Bitcoin Has Come a Long Way, Ray Dalio Says in Interview That Also Touches on Inflation and US Politics
December 17, 2021
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Ray Dalio, billionaire investor and founder of the world’s largest hedge fund, Bridgewater Associates, in a Dec. 15 interview with Marketwatch, praised Bitcoin, the largest cryptocurrency on the market. “It has been an amazing accomplishment for bitcoin to have achieved what it has done, from writing that program, not being hacked, having it work and having it adopted the…
Stocks Slide, Safe Havens Gain as Omicron Worries Weigh
December 17, 2021
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NEW YORK—Global stock benchmarks and oil prices fell on Friday while safe havens such as the dollar and Treasury bonds rose as investors wrestled with a hawkish turn from major central banks in the fight against inflation and rising numbers of Omicron cases. Asian shares closed near lows for the year and broad-based European stock…
Wall Street Falls After Slide in Big Tech Stocks
December 17, 2021
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Wall Street’s main indexes fell on Friday as big technology-related shares tumbled, reeling from the Federal Reserve’s decision to end its pandemic-era stimulus faster. An announcement from the Fed this week signaling three quarter-percentage-point interest rate hikes by the end of 2022 to combat surging inflation put pressure on heavyweight tech stocks. Growth stocks including…
BOJ Dials Back Pandemic Funding as Global Central Banks Eye Post-COVID Era
December 17, 2021
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TOKYO—The Bank of Japan on Friday dialled back emergency pandemic funding but maintained an ultra-loose policy and extended financial relief for small firms, cementing expectations it will remain among the most dovish central banks for the foreseeable future. BOJ Governor Haruhiko Kuroda said borrowing costs will remain low in Japan even as other central banks…
World Shares Mixed After Tech-Led Retreat on Wall Street
December 17, 2021
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BANGKOK—World shares fell on Friday after technology companies led Wall Street benchmarks lower as investors weighed the implications of higher interest rates, surging coronavirus cases, and tensions between Beijing and Washington. Benchmarks declined in Paris, London, Frankfurt, and Tokyo but rose in Shanghai. U.S. shares dropped a day after the Federal Reserve said it’s preparing…
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