NEW YORK—Wall Street’s bang to start the year got even bigger Thursday, as tech stocks and a surge for Facebook’s parent company led the market higher. The S&P 500 rallied 1.5 percent a day after hitting its best level since August. The Nasdaq composite soared 3.3 percent, while the Dow Jones Industrial Average lagged because…
How Much Money You Would Have If You Invested $1,000 Into McDonald’s Stock 10 Years Ago
Higher menu prices and customer visits boosted McDonald’s Corp. quarterly profit and sales above Wall Street estimates on Tuesday, but shares fell when the burger chain warned inflation will weigh on margins in 2023. “Overall, the consumer, whether it’s in Europe or the U.S., is actually holding up better than … what I would have…
Deutsche Bank CEO Won’t Rule Out Job Cuts
FRANKFURT—Deutsche Bank CEO Christian Sewing on Thursday refused to rule out job cuts as the bank strives to lower costs, in a sign of the uncertainty facing the global financial industry as economic growth slows. Sewing, who heads Germany’s top lender that reaches from New York to Sydney, said the bank was looking to reduce…
Meta Stuns Street With Lower Costs, Big Buyback, Upbeat Sales
Meta Platforms Inc.’s stricter cost controls this year and a new $40 billion share buyback sent shares soaring on Wednesday, as CEO Mark Zuckerberg called 2023 the “Year of Efficiency.” The parent of Instagram and Facebook, which has fallen on hard times amid a broad post-pandemic slump in digital ads, is focused on improving its…
Euro Hits 10 Month-High on Dollar, as Central Banks Chart Divergent Courses
SINGAPORE/LONDON—The euro sat at a 10-month high against the dollar on Thursday, ahead of a European Central Bank meeting at which markets expect a half-percentage point rate increase, a day after the U.S. Federal Reserve slowed the pace of its rises to 25 basis points. The Fed also said it had turned a corner in…
Oil Steady as Dollar Slumps and Russian Oil Products Ban Looms
February 2, 2023
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LONDON—Oil prices were steady on Thursday after tumbling in the previous session as a weaker dollar boosted sentiment, though looming sanctions on Russian oil products added uncertainty over supply. Brent crude futures fell 10 cents, or 0.1 percent, to $82.74 a barrel by 0937 GMT while West Texas Intermediate (WTI) U.S. crude futures advanced 1…
Global Stocks Rise After Fed Sees Inflation Improving
February 2, 2023
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BEIJING—Global stock markets and Wall Street futures rose Thursday after the Federal Reserve said the U.S. economy is moving toward lower inflation but more interest rate hikes are planned. London and Frankfurt opened higher. Shanghai and Tokyo advanced. Oil prices rose. Wall Street’s benchmark S&P 500 index rose after the Fed increased its key lending…
Wall Street Opens Lower Ahead of Fed Decision; AMD Rises on Outlook
U.S. stock indexes opened lower on Wednesday as investors cautiously awaited the Federal Reserve’s decision on interest rates later in the day, while chipmaker Advanced Micro Devices climbed on an upbeat outlook. The Dow Jones Industrial Average fell 46.44 points, or 0.14 percent, at the open to 34,039.60. The S&P 500 opened lower by 6.53…
Dollar Slips Ahead of Fed Rate Decision
LONDON—The dollar weakened slightly against the euro ahead of Wednesday’s eagerly awaited Federal Reserve policy decision, with investors hoping the U.S. central bank will signal an end to interest rate tightening cycle. The euro, meanwhile, was barely moved by data showing inflation in the bloc had eased for a third straight month in January. After…
Oil Stable as Market Awaits Fed, OPEC Decisions
February 1, 2023
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LONDON—Oil prices were broadly stable as the market is looking towards a meeting of OPEC and its allies as well as a Federal Reserve rate decision and U.S. government data on crude and fuel stockpiles on Wednesday. Brent crude futures dipped 11 cents, or 0.1 percent, to $85.35 a barrel at 0949 GMT. West Texas…
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