Wall Street’s main indexes opened marginally higher on Wednesday as investors digested Goldman Sachs second-quarter results and assessed strong earnings from a number of smaller banks. The Dow Jones Industrial Average rose 39.28 points, or 0.11 percent, at the open to 34,991.21. The S&P 500 opened higher by 8.89 points, or 0.20 percent, at 4,563.87,…
Pound Slides After Cooler Inflation Data, Yen Under Pressure Again
LONDON/SINGAPORE—Sterling slid on Wednesday after lower-than-expected British inflation data suggested the Bank of England might not have to raise rates quite as high as expected, while the latest dovish comments from the Bank of Japan caused the yen to soften. The pound dropped as much as 0.8 percent against the dollar to $1.2931, and also…
Brent Oil Hovers Over $80 as Inflation Worries Ease
LONDON—Global oil benchmark Brent hovered above $80 on Wednesday, buoyed by China’s pledge to reinvigorate economic growth and expectations the U.S. Federal Reserve will stop raising interest rates soon. Brent futures rose 38 cents at $80.01 a barrel by 0956 GMT, while U.S. West Texas Intermediate (WTI) crude was up 20 cents to $75.95 per…
Stocks Climb, Sterling Weighed Down as UK Inflation Slows
July 19, 2023
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LONDON, SYDNEY—Global stocks and government bonds rallied on Wednesday as good news on UK inflation added to a picture of cooling price pressures, although the data slammed the brakes on sterling’s recent winning streak. Headline British consumer price inflation fell to 7.9 percent year-on-year in June, against expectations for 8.2 percent, in the latest downside…
Stock Market Today: Wall Street’s AI Frenzy and Strong Bank Profits Send Stocks Higher
NEW YORK—Wall Street’s frenzy around artificial intelligence helped push stocks to their best level in more than 15 months on Tuesday, along with stronger-than-expected profit reports from several big financial companies. The S&P 500 rose 32.19, or 0.7 percent, to 4,554.98 and its highest finish since early April 2022. The Dow Jones Industrial Average rallied…
How Major US Stock Indexes Fared July 18
Wall Street’s growing frenzy around artificial intelligence pushed stocks to their best level in more than 15 months. The S&P 500 rose 0.7 percent Tuesday to its highest finish since early April 2022. The Dow added 366 points, or 1.1 percent, and the Nasdaq composite climbed 0.8 percent. Microsoft was the biggest force pushing the…
S&P 500 Inches Down as Investors Digest More Big Bank Earnings
The benchmark S&P 500 edged lower on Tuesday as investors digested earnings reports from top lenders Morgan Stanley and Bank of America, after the markets rallied last week in anticipation of the results and signs of inflation cooling. The Dow Jones Industrial Average rose 11.73 points, or 0.03 percent, at the open to 34,597.08. The…
Dollar Slips Towards 15-month Low, Euro Scales 17-month Peak
LONDON—The dollar drifted near a 15-month low against its major peers on Tuesday, as investors awaited fresh catalysts to gauge for downside in the wake of last week’s cooler-than-expected U.S. inflation. The U.S. dollar index, which measures the greenback against a basket of six currencies, fell as low as 99.587, languishing near Friday’s trough of…
Oil Inches Higher as Investors Eye US Crude Supplies
LONDON—Oil prices edged higher on Tuesday as investors weighed a possible tightening of U.S. crude supplies against weaker-than-expected Chinese economic growth. Both contracts fell more than 1.5 percent on Monday, following lacklustre Chinese data and the partial restart of some Libyan oilfields. Brent crude was up 51 cent at $79.01 a barrel by 0956 GMT,…
World Stocks Near 15-month High; China Data Weighs on Markets
July 18, 2023
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LONDON—World shares were steady near their recent 15-month highs and the dollar held close to a one-year low on Tuesday as investors paused to take stock of weak economic data from China and waited for U.S. retail sales data and earnings. Asian stocks fell earlier in the session as markets caught up with growth data…
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