Wall Street opened lower on Thursday, with the S&P 500 and Nasdaq retreating from 14-month highs as the Federal Reserve signalled that interest rates could rise further this year. The Dow Jones Industrial Average fell 33.35 points, or 0.10 percent, at the open to 33,945.98. The S&P 500 opened lower by 7.26 points, or 0.17…
Dollar Ekes out Gain After Fed Hike Hint; Yen Slips
LONDON—The U.S. dollar strengthened on Thursday after the Federal Reserve left interest rates unchanged but signalled further rate hikes to come this year as attention turned to the European Central Bank policy announcement later in the day. The Fed’s policy decision snapped a string of 10 consecutive rate hikes, but the projections, or dot plot,…
Oil up on Strong China Refinery Data
LONDON—Oil prices rose on Thursday after a plunge the previous day, as data showed a jump in refinery runs at the world’s top crude importer China, but a weak economic backdrop capped gains. Brent crude futures were up 84 cents, or 1.15 percent, to $74.04 a barrel at 0959 GMT. U.S. West Texas Intermediate (WTI)…
Stocks Slip as ECB Prepares Hike After Hawkish Fed Pause
June 15, 2023
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LONDON—World stocks slipped from 18-month peaks and the dollar pushed higher on Thursday as traders readied for what is expected to be the eighth straight rate hike from the European Central Bank (ECB) later. Europe’s groggy start came after Wednesday’s first pause in the U.S. Federal Reserve’s rapid hiking cycle in over a year was…
Stock Market Today: Wall Street Swings to Mixed Close as Fed Hints of Rate Hikes to Come
NEW YORK—Wall Street swung to a mixed finish after the Federal Reserve hinted it may raise interest rates two more times this year, even as it held them steady Wednesday. The S&P 500 finished the day 0.1 percent higher after pinballing between gains and losses following the Fed’s announcement. The Dow Jones Industrial Average dropped…
How Major US Stock Indexes Fared June 14
Stocks swung to a mixed close on Wall Street after the Federal Reserve hinted it may raise interest rates two more times this year. The S&P 500 ended less than 0.1 percent higher Wednesday after pinballing from a modest gain before the Fed’s announcement to a modest loss just after. The Dow fell 232 points,…
Wall Street Subdued at Open as Investors Await Fed Decision
Wall Street’s main indexes were subdued at open on Wednesday as investors geared up for the Federal Reserve’s interest rate decision later in the day, while shares of UnitedHealth fell after the insurer warned of higher medical costs. The Dow Jones Industrial Average fell 167.42 points, or 0.49 percent, at the open to 34,044.70. The…
Dollar Eases as Traders Gear Up for Fed Skip
LONDON—The dollar hovered around multi-week lows against the euro and sterling on Wednesday, after unexpectedly soft U.S. inflation data cemented the view that the Federal Reserve will not raise interest rates later in the day. China’s yuan sagged to a 6–1/2-month trough after the central bank cut rates, and as speculation mounts that even more…
Oil Rises as Market Awaits Fed Interest Rate Decision
LONDON—Oil prices rose on Wednesday as investors awaited the outcome of the U.S. Federal Reserve’s June meeting after bullish oil demand growth forecasts from the International Energy Agency (IEA) and OPEC. Brent crude futures were up 76 cents, or 1 percent, at $75.05 a barrel by 0916 GMT. U.S. West Texas Intermediate (WTI) crude was…
Stocks Edge Higher, Dollar Sags Eyeing Fed Pause
June 14, 2023
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Global shares edged higher and the dollar held near three-week lows on Wednesday as traders were all but certain that the U.S. Federal Reserve will refrain from hiking interest rates later in the session. Overnight, the much-watched U.S. CPI report showed prices barely rose in May, with just a 0.1 percent increase from the prior…
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