Consumer confidence dipped again in April as anxiety over a slowing economy and possible recession weighed on American households. The Conference Board reported Tuesday that its consumer confidence index fell to 101.3 in April from 104 in March. It’s the third time in four months that overall U.S. consumer confidence has declined. Optimism about current…
Wall Street Opens Lower on Mixed Earnings, First Republic Shares Plunge
Wall Street’s main indexes opened lower on Tuesday following a mixed batch of earnings reports, while a plunge in deposits of regional lender First Republic Bank stoked concerns about the banking sector. The Dow Jones Industrial Average fell 47.06 points, or 0.14 percent, at the open to 33,828.34. The S&P 500 opened lower by 10.61…
3M to Cut 6,000 Positions Globally to Improve Cash Flow
3M Co said on Tuesday it would cut about 6,000 positions globally as the U.S. industrial conglomerate looks to focus on high-growth businesses, including automotive electrification and home improvement. The move comes as an uncertain economy along with rising interest rates and stubbornly high inflation forces corporate America to get leaner in recent months. 3M,…
Dollar Higher on Earnings, Economy Worries; Euro Slips
LONDON—The dollar rose on Tuesday as worries about earnings and the outlook for the global economy deepened, which knocked the euro back from close to a 10-month high. The U.S. dollar index was last up around 0.2 percent at 101.37, having dropped over 3.3 percent since the beginning of March. News on Monday of plunging…
Oil Edges up on China Demand Optimism, US Inventories in Focus
April 25, 2023
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LONDON—Oil edged higher on Tuesday, on track for a third day of gains, supported by investor optimism that holiday travel in China would boost fuel demand and by expectations U.S. inventories would show a drop in crude stocks. Bookings in China for trips abroad during the upcoming May Day holiday point to a continued recovery…
Stocks Fall, Dollar Gains Await Earnings Litmus Test
April 25, 2023
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LONDON—Stocks fell on Tuesday, while the dollar got a lift as investors prepared for corporate earnings and macro data this week to paint a clearer picture of the health of the global economy. Last week’s U.S. bank earnings came in stronger than expected, and this week brings results for Big Tech and a number of…
The Growing Consumer Revolt Against Woke Ideology
April 24, 2023
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Alissa HeinerscheidAnheuser BuschBud LightBusiness & MarketsBusiness ColumnistsdeiESGinflationOpinionrecessionTikToktransgendertransgenderismU.S. economyViewpointswoke ideology
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Commentary It’s likely true: no executives at Anheuser-Busch knew what the Bud Light marketing people were planning when they decided to deploy an absurdist and deeply offensive transgender TikTok influencer to sell their beer. But soon after it happened, public disgust became rather obvious. The crisis began but for weeks, the company was in denial….
Wall Street Opens Lower as Focus Turns to Tech Earnings, Economic Data
Wall Street’s main indexes opened slightly lower on Monday as investors awaited results from megacap companies and key data that could shed light on the U.S. economy and shape the Federal Reserve’s monetary policy. The Dow Jones Industrial Average fell 3.92 points, or 0.01 percent, at the open to 33,805.04. The S&P 500 opened lower…
Dollar Gains, on Track for 2nd Straight Monthly Loss
SINGAPORE—The dollar began the last trading week of the month on a firmer footing, with traders awaiting a slew of central bank policy meetings that could signal how soon the steep increases in interest rates globally might come to an end. U.S. Federal Reserve policymakers are widely expected to raise rates by another 25 basis…
Oil Prices Steady on Uncertain Global Outlook and Supply Concerns
April 24, 2023
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LONDON—Oil prices were steady on Monday as concern over rising interest rates, the global economy and the outlook for fuel demand were balanced by the prospect of tightening supplies. Brent crude slipped 22 cents, or 0.3 percent, to $81.44 a barrel by 0905 GMT. U.S. West Texas Intermediate crude was down 10 cents, or 0.1…
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