NEW YORK—Stocks fell on Wall Street Tuesday after reports on the economy came in weaker than expected. The S&P 500 dropped 23.91 points, or 0.6 percent, to 4,100.60 to break a four-day winning streak. The Dow Jones Industrial Average fell 198.77, or 0.6 percent, to 33,402.38, and the Nasdaq composite sank 63.13, or 0.5 percent,…
Wall Street Opens Mixed Ahead of Jobs Data; Tesla Gains
Wall Street’s main indexes opened mixed on Tuesday ahead of jobs data that could decide the Federal Reserve’s monetary tightening path, while Tesla gained as sales of its China-made electric vehicles rose in March. The Dow Jones Industrial Average fell 6.36 points, or 0.02 percent, at the open to 33,594.79. The S&P 500 opened higher…
Pound Hits Highest Since June, Euro up as Dollar Under Pressure
LONDON/SINGAPORE—The pound rose to a new 10-month high against the dollar on Tuesday, and the euro reached its highest in two months, as the greenback continued to be hurt by market bets that the end of the U.S. rate-hiking cycle is near. Sterling reached $1.2475, its highest since June 2022, and was last just below…
Oil Extends Gains on OPEC+ Surprise Cuts
April 4, 2023
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LONDON—Oil prices rose on Tuesday after OPEC+ plans to cut more production jolted markets the previous day, with investors’ attention shifting to demand trends and the impact of higher prices on the global economy. Brent crude futures were up 43 cents, or 0.5 percent, to $85.36 a barrel by 0925 GMT. U.S. West Texas Intermediate…
Shares Rise, but Concern Mounts Over Inflation Flare-Up
April 4, 2023
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LONDON—Global stocks rose in cautious trade on Tuesday as investors grappled with the possibility of a flare-up in inflation due to the OPEC+ group’s surprise output cut, while the dollar sagged after weak U.S. manufacturing data the previous day. An announcement on Sunday of an output target cut by the Organization of the Petroleum Exporting…
Stocks End Mixed as Jump in Oil Prices Fans Inflation Fears
NEW YORK—Stock markets around the world were mixed Monday, as a jump in oil prices threatens to add upward pressure on inflation. The S&P 500 gained 15.20 points, or 0.4 percent, to 4,124.51, though more stocks in the index fell than rose. The Dow Jones Industrial Average climbed 327.00, or 1 percent, to 33,601.15, while…
Wall Street Opens Lower as Oil Output Cut Reignites Inflation Worries
Wall Street’s main indexes opened lower on Monday after a surge in oil prices brought back inflation worries, bolstering bets that the U.S. Federal Reserve will deliver another interest rate hike at its next meeting. The Dow Jones Industrial Average fell 28.37 points, or 0.09 percent, at the open to 33,245.78. The S&P 500 opened…
Dollar Gains as Surprise OPEC+ Cut Adds to Inflation Conundrum
April 3, 2023
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SINGAPORE/LONDON—The dollar rose against other major currencies on Monday as fears over inflation resurfaced after a surprise announcement by major oil producers to cut production targets further, with traders wagering the Federal Reserve may need to increase interest rates again at its next meeting. The announcement on Sunday by the Organization of the Petroleum Exporting…
Oil Prices Surge, Fed Rate Path in Question Again
April 3, 2023
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SYDNEY/LONDON—Oil prices surged on Monday after Saudi Arabia and other OPEC+ producers announced a surprise cut in their output target, a move that rippled through stock markets and boosted the dollar due to reinvigorated fears about the stickiness of global inflation. Brent oil futures looked set for its biggest daily percentage gain in around a…
Stocks Rally to Cap a Winning Month, Quarter for Wall Street
NEW YORK—Stocks rallied Friday to close out a winning March and first quarter of the year, feats that looked questionable just a couple weeks ago when Wall Street was tumbling in turmoil. The S&P 500 rose 1.4 percent to cap a 3.5 percent gain for the month. It also locked in a second winning quarter…
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