BANGKOK—Shares rose in early European trading after closing mostly lower in Asia ahead of the release of consumer price data in the U.S. Benchmarks advanced in Paris, London, Tokyo, and Sydney but fell in Hong Kong, Shanghai, and Seoul. Oil prices rose while U.S. futures edged lower. Friday will bring the core U.S. personal consumption…
Global Stocks Mixed After Wall Street Breaks Losing Streak
February 24, 2023
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Stocks Rise on Wall Street and Break a 4-day Losing Streak
NEW YORK—Stocks climbed Thursday after a see-saw day on Wall Street to break out of their longest losing streak since December. The S&P 500 rose 0.5 percent for its first gain in five days. The Dow Jones Industrial Average gained 108 points, or 0.3 percent, while the Nasdaq composite added 0.7 percent. Tech stocks helped…
Wall Street Opens Higher as Nvidia Offsets Fed Jitters
Wall Street’s main stock indexes opened higher on Thursday as a strong sales forecast from Nvidia boosted chipmakers, although a surprise fall in weekly jobless claims added to worries that the Federal Reserve will keep raising interest rates for longer. The Dow Jones Industrial Average rose 130.30 points, or 0.39 percent, at the open to…
Dollar Index Hits 7-week High on Higher-for-Longer US Rates
LONDON—The dollar index rose to its highest in nearly seven weeks on Thursday, a day after minutes from the Federal Reserve’s last policy meeting that supported, but did not add to markets’ view the central bank will raise rates further. The index, which tracks the greenback against six major peers touched 104.68, its highest since…
Oil Prices Stabilize, but Rise in US Inventories Looms
LONDON—Oil prices stabilized on Thursday after Brent crude posted its biggest one-day loss for seven weeks in the previous session, with gains on Russian supply curbs capped by an expected rise in U.S. inventories. Brent crude futures rose 25 cents, or 0.3 percent, to $80.85 a barrel by 1004 GMT, compared with about $98 a…
Global Stocks Mixed After Fed Officials Support Higher Rates
February 23, 2023
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BEIJING—Global stock markets were mixed Thursday after notes from a Federal Reserve meeting showed officials expect more U.S. interest rate hikes to fight stubborn inflation. London, Shanghai, and Hong Kong declined. Frankfurt and Wall Street futures advanced. Japanese markets were closed for a holiday. Notes from the latest Federal Reserve board meeting showed members expect…
Stocks Stall in Mixed Trading Day After Worst Drop in Months
NEW YORK—Stocks stalled in mixed trading on Wednesday, a day after falling to their worst loss since December, as Wall Street prepares for interest rates to stay higher for longer. The S&P 500 dipped 0.2 percent after drifting between small gains and losses through the day. The Dow Jones Industrial Average slipped 84 points, or…
Intel Slashes Dividend by 65 Percent as It Pushes to Cut Costs After Big Loss
February 22, 2023
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Intel Corp. slashed its quarterly dividend by almost two-thirds, as it proceeds to cut costs after major losses. The U.S.-based chip manufacturer will reduce its fourth quarterly dividend from $0.365 to $0.125, a loss of more than 65 percent, the chipmaker announced on Feb. 22. This comes after the company announced the implementation of a series of…
Walmart Has ‘A Lot of Trepidation’ About Economy, as Consumers Feel ‘Very Pressured’
Walmart is concerned about the U.S. economic outlook this year after its latest earnings projections showed that consumers were under heavy pressure. Shares of the retail giant rose 0.4 percent after the big-box retailer gave its weaker-than-expected outlook for the year ahead. The world’s largest retailer saw its full-year earnings forecast (pdf) fall below estimates, as…
Dollar Builds on Gains as Economy Shines in February
LONDON/SINGAPORE—The dollar rose slightly on Wednesday, continuing to trade near six-week highs on the back of strong economic data. Survey data released on Tuesday showed U.S. business activity unexpectedly rebounded in February to reach its highest in eight months. In the eurozone, a survey-based gauge of activity also surged, hitting a nine-month high. The signs…
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