Wall Street closed lower as worries rise about the strength of the global economy and inflation. The S&P 500 fell 0.6 percent Wednesday. The Nasdaq composite fell a similar amount, and the Dow Jones Industrial Average fell 0.4 percent. Markets in Asia fell even more following discouraging data on manufacturing in China. In the United…
Nvidia Temporarily Becomes First Chipmaker to Hit $1 Trillion in Value
May 31, 2023
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Nvidia became the first chipmaker to be valued at over a $1 trillion, before falling in trading later in the day. The U.S. chipmaker’s market value rose 3 percent, to $401.15 on May 30, after tripling in value since October, due to its successful investments in Artificial Intelligence, as investors pile on to the firm. The…
Dollar Hits More Than 2-month High as European Inflation Cools
LONDON/TOKYO—The U.S. dollar rose strongly on Wednesday to a more than two-month high after data showed European inflation is cooling quicker than expected and China’s recovery is sputtering. The euro was last down 0.67 percent at $1.066, the lowest since March 20. That helped the dollar index, which measures the greenback against six major peers,…
Oil Falls On Weak China Data, Stronger US Dollar
LONDON—Oil prices fell on Wednesday on a stronger U.S. dollar and as weak data from top oil importer China raised demand fears. Brent crude futures for August delivery were down $1.29, or 1.75 percent, to $72.42 a barrel at 1013 GMT. U.S. West Texas Intermediate crude (WTI) fell $1.28, or 1.84 percent, to $68.18. Both…
Shares Drop Ahead of US Debt Ceiling Vote; China Data Rattles Nerves
May 31, 2023
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LONDON—Global shares fell on Wednesday ahead of a crucial vote in Washington on the U.S. debt ceiling, while commodities and the Chinese yuan came under pressure after data highlighted faltering growth in the world’s second-largest economy. The MSCI All-World Index of global shares, which is heading for its first monthly decline since February, was down…
Stock Market Today: Wall Street Churns to a Mixed Finish
NEW YORK—Wall Street churned to a mixed finish Tuesday as a long list of worries looms, even if the most pressing crisis seems to be calming as Washington moves to avoid a default on its debt. The S&P 500 edged up by 0.07, or less than 0.1 percent, to 4,205.52, hovering close to its highest…
How Major US Stock Indexes Fared May 30
Wall Street churned to a mixed finish as a long list of worries looms, even if the most pressing crisis seems to be calming as Washington moves to avoid a default on its debt. The S&P 500 was virtually unchanged Tuesday, hovering near its highest level since August. The Dow Jones Industrial Average fell 50…
Wall Street Opens Higher on Tentative Debt Ceiling Deal; Nvidia Jumps
Wall Street’s main indexes opened higher on Tuesday as lawmakers tentatively agreed to raise the nation’s debt limit to avert a default, while shares of Nvidia led a rally among chipmakers and AI-related firms. The Dow Jones Industrial Average rose 10.31 points, or 0.03 percent, at the open to 33,103.65. The S&P 500 opened higher…
Oil Falls 2 Percent on US Debt Deal Struggles, OPEC+ Talks Uncertainty
LONDON—Oil fell by nearly 2 percent on Tuesday as concerns about the U.S. debt ceiling pact cooled the market’s risk-on sentiment and mixed messages from major producers clouded the supply outlook ahead of their meeting this weekend. Brent crude futures fell $1.36, or 1.8 percent, to $75.71 a barrel by 0859 GMT. U.S. West Texas…
Yen Firms on Policymaker Meeting, Dollar up After Debt Deal
LONDON/SINGAPORE—The yen strengthened on Tuesday on news of a meeting of Japan’s finance ministry and central bank, while elsewhere the dollar rose to a two-month high against a basket of its peers after the U.S. debt ceiling deal. The dollar was last down 0.18 percent against the Japanese yen at 140.18 after the country’s finance…
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