Bitcoin rose 7.11 percent to $55,162.92 at 20:01 GMT on Wednesday, adding $3,661.73 to its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is up 98.9 percent from the year’s low of $27,734 on Jan. 4. Ether, the coin linked to the ethereum blockchain network, rose 2.15 percent to $3,591.72 on Wednesday, adding $75.63…
ECB’s de Guindos Flags Structural Driver in Inflation Rise
October 4, 2021
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FRANKFURT―The recent rise in euro zone inflation has a structural driver in supply disruptions and the European Central Bank has to watch out for any sign of wages increases, ECB vice-president Luis de Guindos said on Monday. The ECB officially expects price growth in the euro zone, which hit 3.4 percent last month, to ease…
Investors Watch US Companies’ Record Profit Margins as Costs Rise Further
September 23, 2021
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NEW YORK—U.S. companies have retained strong profit margins through the pandemic because they have cut costs and passed along high prices to customers. The question is: How long can this go on? With inflation still strong, the ability for companies to keep margins at record levels is being closely watched by some investors and strategists…
Futures Rise as Taper Fears Fade
September 23, 2021
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U.S. stock index futures rose on Thursday, indicating Wall Street was set to jump further from recent lows after investors largely brushed off concerns over the Federal Reserve’s plans for tapering. The Fed said on Wednesday it could begin reducing its monthly bond purchases by as soon as November, and that interest rates could rise…
Oil Prices Rise on Tight Supply, Renewed Risk Appetite
September 23, 2021
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LONDON—Oil prices extended gains on Thursday, riding higher on growing fuel demand and a bigger-than-expected draw in U.S. crude inventories as production remains hampered in the Gulf of Mexico after two hurricanes. Brent crude rose 9 cents, or 0.1 percent, to $76.28 a barrel at 0856 GMT. U.S. West Texas Intermediate (WTI) crude was up…
Taiwan August Export Orders Seen Rising for 18th Consecutive Month: Poll
TAIPEI—Taiwan’s export orders likely rose in August for the 18th consecutive month, a Reuters poll showed on Wednesday, buoyed by sustained demand for technology products during the COVID-19 pandemic and ahead of the year-end holiday shopping season. The median forecast from a poll of 18 economists expects export orders to jump 20.7 percent from the…
Oil Prices Rise on Expected US Stocks Draw
September 22, 2021
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LONDON—Oil prices climbed more than $1 on Wednesday, extending overnight gains after industry data showed U.S. crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves. Prices were also supported as some OPEC members struggle to raise output and by a general sense of energy…
Oil Rises 1 Percent as US Storm Aftermath Tightens Supply
September 21, 2021
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TOKYO—Oil prices rose on Tuesday as analysts pointed to signs of U.S. supply tightness, ending days of losses as global markets remain haunted by the potential impact on China’s economy of a crisis at heavily indebted property group China Evergrande. Brent crude gained 95 cents or 1.3 percent to $74.87 a barrel by 0645 GMT,…
US Weekly Jobless Claims Unexpectedly Rise
WASHINGTON—The number of Americans filing new claims for unemployment benefits increased last week for the first time in more than a month, but layoffs are easing amid a reopening economy and a shortage of people willing to work. Initial claims for state unemployment benefits totaled a seasonally adjusted 412,000 for the week ended June 12,…
March Home Prices See Biggest Surge In 7 Years
Home prices in the United States jumped by the most in over seven years in March, as a growing number of eager buyers competed for a dwindling supply of housing stock. The March Case-Shiller 20-city home price index, released Tuesday, soared 13.3 percent in March on a year-over-year basis, the biggest gain since December 2013….
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