LONDON—Oil prices were on track for a hefty weekly loss as economic and interest rate uncertainty weighed, though prices were stable on Friday as the eurozone recovery gathered pace unexpectedly. Brent futures for June delivery edged down by 4 cents, or 0.05 percent, to $81.06 a barrel at 0932 GMT. West Texas Intermediate crude (WTI)…
Oil Heads for Weekly Loss on Economic Uncertainty
April 21, 2023
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Stocks Struggle, Dollar Gains as Investors Scrutinize Data
April 21, 2023
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LONDON—Global stocks struggled on Friday as investors pored over economic data for clues on the likelihood of more interest rate hikes and possible recession in the United States as a new earnings season unfolded. The dollar edged up and looked set for its first weekly gain in more than a month on Friday. Oil prices…
Stock Market Today: Tesla, AT&T Help Drag Wall Street Lower
NEW YORK—Stocks on Wall Street dipped Thursday following mixed earnings reports from big companies and more signals the U.S. economy may be slowing. The S&P 500 fell 24.73, or 0.6 percent, to 4,129.79 after drifting listlessly earlier this week. The Dow Jones Industrial Average slipped 110.39, or 0.3 percent, to 33,786.62, while the Nasdaq composite…
Musk Says Tesla Will Put Sales Growth Ahead of Profit
Tesla Inc. boss Elon Musk on Wednesday doubled down on the price war he started at the end of last year, saying the electric vehicle (EV) maker would prioritize sales growth ahead of profit in a weak economy. The company posted its lowest quarterly gross margin in two years, missing market estimates, as it slashed…
Musk Says Tesla Likely to Launch Full Self-Drive Technology ‘This Year’
SAN FRANCISCO—Elon Musk said on Wednesday that electric vehicle (EV) giant Tesla likely will launch full self-drive technology this year and generate significant profits that offset some of the margin pressure it’s facing due to aggressive price cuts. “I hesitate to say this but I think we’ll do it this year,” said Tesla CEO Musk,…
Wall Street Opens Lower on Downbeat Earnings, Rate Jitters
U.S. stock indexes opened lower on Thursday as disappointing results from Tesla, AT&T and some regional banks dented investor sentiment already soured by prospects of further U.S. interest rate hikes. The Dow Jones Industrial Average fell 156.41 points, or 0.46 percent, at the open to 33,740.60. The S&P 500 opened lower by 24.04 points, or…
Dollar Steadies After Strong US Bank Results
TOKYO/LONDON—The U.S. dollar steadied on Thursday after strong U.S. banking results firmed up expectations that the Federal Reserve will keep monetary policy tight for a while longer. Morgan Stanley reported first quarter profit on Wednesday that beat expectations, adding to rosy results from major U.S. lenders that have calmed fears of a widening crisis after…
Oil Prices at 3-Week Low as Strong Dollar, Rate Hikes Weigh
April 20, 2023
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LONDON—Oil prices fell to their lowest in about three weeks on Thursday, depressed by a firmer dollar and rate hike expectations which outweighed lower U.S. crude stocks. Brent crude futures were down $1.12, or 1.4 percent, to trade at $82.00 a barrel at 0819 GMT. West Texas Intermediate crude (WTI) futures dropped $1.02, or 1.3…
Central Banks, Earnings Dampen Stocks’ Upbeat Mood
April 20, 2023
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LONDON—World stocks pulled further away from 2–1/2 week highs touched earlier this week, with sentiment dampened by expectations for further rate hikes from big central banks, and with the focus fixed on the earnings season. The pan-European STOXX 600 index, which hit 14-month highs on Tuesday, was down a third of a percent in early…
Stock Market Today: Wall Street Is Mixed as Calm Continues
NEW YORK—Wall Street barely budged again on Wednesday following another set of mixed earnings reports from big U.S. companies. The S&P 500 inched down by 0.35 points, or less than 0.1 percent, to 4,154.42. The Dow Jones Industrial Average slipped 79.62, or 0.2 percent, to 33,897.01, and the Nasdaq composite edged up by 3.81 points,…
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