Bitcoin, the world’s biggest and best-known cryptocurrency, slipped below $60,000 on Tuesday, taking losses from a record high of $69,000 struck on Nov. 10 to more than 12 percent. Bitcoin was down 5 percent at $60,391.3 at 1253 GMT, after earlier falling as much as $58,563, its lowest since Oct. 28, while Ether, the second-biggest…
Bitcoin Slips Below $60,000 for the First Time in More Than Two Weeks
November 16, 2021
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Global Investors Ending 2021 ‘Risk-On’: BofA
November 16, 2021
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MILAN—Investors are heading towards the end of the year in a “risk-on” mood, having reduced cash allocations and lifted their overweight position on U.S. stocks to the highest since August 2013, BofA Securities’ monthly fund manager survey showed. Inflation remains the biggest tail risk for markets but a majority of 61 percent believes it is…
Dollar Near 16-Month High Versus Euro Ahead of US Retail Sales Data
November 16, 2021
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LONDON—The dollar held just below a 16-month high versus the euro on Tuesday, while the yuan reached its strongest in more than five months as markets welcomed dialogue between the U.S. President and Chinese leader. U.S. President Joe Biden and Chinese leader Xi Jinping stressed their responsibility to the world to avoid conflict, in talks…
Stock Markets March on as Biden-Xi Talks Lift Sentiment
November 16, 2021
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LONDON—Global stock markets marched on towards new peaks on Tuesday as U.S. President Joe Biden and Chinese leader Xi Jinping held over three hours of virtual talk, helping to nudge China’s yuan to a five-month high and pulling the dollar lower. The closely watched conversation between the leaders of the world’s biggest economies appeared to…
Coal Stocks Drag After Glasgow Climate Deal After Year of Huge Gains
SYDNEY—An international agreement to reduce coal use dragged miners’ shares lower on Monday, but the tight supply of the commodity provided a floor for a sector that has chalked up huge gains this year. U.N. climate talks in Glasgow ended on Saturday with a deal targeting fossil fuel use. Wording was softened to call for…
Gold Probes Multi-Month Highs as Inflation Drives Investor Interest in Haven Assets
Surging inflation has pushed gold prices to near five-month highs, with Credit Suisse analysts predicting a more sustained move higher that could see the haven metal attempt a breakout beyond its $2,075 record high. Spot gold prices rose sharply on Nov. 3, the day Fed policymakers capped a two-day meeting by saying they would start tapering…
Futures Rise on Tech Strength; Tesla Extends Losses
November 15, 2021
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U.S. stock index futures rose on Monday as major technology stocks advanced, while investors awaited a slew of retail earnings and economic data this week to gauge the health of consumer spending. The three major Wall Street indexes had fallen between 0.3 percent and 0.7 percent last week on concerns over high inflation and weakening…
Wall Street Supported by Tech; Tesla Extends Losses
November 15, 2021
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U.S. stock indexes were buoyed by technology stocks on Monday as concerns over rising inflation saw investors shift to economically resilient sectors ahead of major retail earnings and data this week. The S&P technology and communication services sectors were the best performers in early trade, adding 0.4 percent and 0.6 percent, respectively, while Meta Platforms…
Japan, US Agree to Start Talks on Additional Steel, Aluminum Tariffs
November 15, 2021
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TOKYO—Japan and the United States have agreed to start discussions aimed at tackling additional U.S. tariffs on Japanese steel and aluminum imports during a bilateral meeting in Tokyo, Japan’s industry ministry said on Monday. The meeting was held between Japan’s Industry Minister Koichi Hagiuda and U.S. Commerce Secretary Gina Raimondo, but a ministry official said…
Pledging to Retain Stimulus, BOJ’s Kuroda Projects Inflation Near 1 Percent Mid-Next Year
November 15, 2021
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TOKYO—Bank of Japan Governor Haruhiko Kuroda expects inflation to accelerate to around 1 percent in the first half of next year as the economy recovers to pre-coronavirus levels, pledging to maintain ultra-easy policy in hopes of a consumption-driven recovery. With inflation still short of its 2 percent target, the BOJ will maintain its “powerful” monetary…
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