Wall Street’s main stock indexes opened lower on Friday on worries that accelerating inflation in the face of a sturdy U.S. economy could prompt the Federal Reserve to err on the side of caution by keeping monetary policy restrictive through the year. The Dow Jones Industrial Average fell 19.84 points, or 0.06 percent, at the…
Stock Futures Slide After Hot Inflation Report Sparks Worst Wall Street Drop in 4 Weeks
U.S. stock futures and world shares fell on Friday morning after Wall Street’s main indexes suffered their biggest decline in four weeks on Thursday sparked by a hot inflation report and hawkish comments by Federal Reserve officials and investment bank bets on bigger interest rate hikes. On Friday morning, shares slipped in Europe and Asia,…
Stocks Open Lower After Hot Inflation Report Sparks Worst Wall Street Drop in 4 Weeks
U.S. stocks opened lower on Friday after Wall Street’s main indexes suffered their biggest decline in four weeks on Thursday, sparked by a hot inflation report and hawkish comments by Federal Reserve officials and investment bank bets on bigger interest rate hikes. On Friday morning, shares slipped in Asia, Europe, and the United States, extending…
Dollar Powers to 6-Week High as Interest Rate Expectations Rise
LONDON/SINGAPORE—The dollar rose to a six-week high on Friday as strong U.S. economic data and comments from Federal Reserve officials led to traders betting more interest rate rises are coming. Data on Thursday showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, and that monthly producer prices increased by…
Oil Heads for Weekly Loss on Rate Hike Worries, Ample Supply
February 17, 2023
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LONDON—Oil fell almost 3 percent on Friday and was on course for a weekly decline, pressured by concerns of more U.S. Federal Reserve interest rate hikes that could weigh on demand, and signs of ample supply. Two Fed officials on Thursday warned additional hikes in borrowing costs are essential to lower inflation to desired levels….
Another Disappointing Inflation Report Thumps Wall Street
NEW YORK—Wall Street tumbled Thursday, and stocks fell by the most in four weeks following more evidence that high inflation is staying stickier than expected. The S&P 500 dropped 1.4 percent after a report said inflation at the wholesale level slowed by less last month than economists forecast. It echoed a report on prices at…
Nestle Plans Price Hikes After Costs Eat Into Profits
February 16, 2023
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Business & MarketsCompanieseconomic policieseconomyEuropeGold and CommoditiesinflationMarketsNestleresultsRussia-Ukraine WarstocksWorld
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ZURICH/LONDON—The world’s biggest food group Nestle will lift prices again this year, Chief Executive Mark Schneider said on Thursday, after more costly ingredients contributed to making its 2022 profit miss market forecasts. Rivals have said they anticipate a more positive pricing outlook for shoppers in 2023. But Schneider said further rises were necessary to offset…
Wall Street Opens Lower as Producer Prices Rebound
U.S. stock indexes opened sharply lower on Thursday after stronger-than-expected producer prices data added fears that the Federal Reserve will keep raising interest rates to tame inflation. The Dow Jones Industrial Average fell 135.96 points, or 0.40 percent, at the open to 33,992.09. The S&P 500 opened lower by 32.85 points, or 0.79 percent, at…
Dollar Eases as Investors Price out ‘Armageddon Recession’ Risk
LONDON—The dollar stalled on Thursday as investors scooped up higher-risk currencies after a run of strong U.S. economic data reinforced confidence in the global growth outlook, even though the Federal Reserve looks set to raise interest rates further. Data from the U.S. Commerce Department showed on Wednesday that retail sales in the United States rebounded…
Oil Slips on US Stock Build, Trading in Narrow Range
February 16, 2023
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LONDON—Oil prices edged lower on Thursday after a large build in U.S. crude inventories but continued to trade in a narrow range as hopes for a Chinese demand recovery remained in focus. Brent crude futures fell 36 cents, or 0.42 percent, to $85.02 a barrel by 1042 GMT. U.S. West Texas Intermediate (WTI) crude futures…
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