NEW YORK—Stocks rose Thursday to send Wall Street to its highest level in nearly eight weeks following reports suggesting the economy and corporate profits may be doing better than feared. The S&P 500 climbed 1.1 percent to clinch its highest finish since Dec. 2. The Dow Jones Industrial Average gained 205 points, or 0.6 percent,…
Wall Street Opens Higher on Soft Landing Hopes, Tesla Boost
Wall Street’s main indexes opened higher on Thursday after data showing a resilient labor market and better-than-expected economic growth last quarter helped ease worries of a deep recession, while Tesla’s bullish outlook added to the cheer. The Dow Jones Industrial Average rose 27.82 points, or 0.08 percent, at the open to 33,771.66. The S&P 500…
Dollar Skulks at 8-Month Low, Central Bank Meetings in Focus
SINGAPORE/LONDON—The dollar fell to an eight-month low against its peers on Thursday, as a gloomy U.S. corporate earnings season stoked recession fears ahead of a slew of central bank meetings next week The euro squeezed its way to a new nine-month high of $1.09295 and was last just below that level, little changed on the…
Oil Prices Firm on China Demand Optimism
January 26, 2023
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LONDON—Oil prices rose 1 percent on Thursday on expectations that demand will strengthen as top oil importer China reopens its economy and on news U.S. crude inventories have risen less than expected. Brent crude futures rose 78 cents, or 0.9 percent, to $86.90 a barrel by 1046 GMT. U.S. West Texas Intermediate (WTI) crude futures…
Hopes of Slowdown in Rate Hikes Bolster Shares Ahead of US GDP
January 26, 2023
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LONDON—Stocks firmed on Thursday as investors bet that central banks meeting next week will signal a slowdown or even a pause in interest rate hikes for later in the year to make recession less likely and ease pressure on corporate earnings. Oil prices were steady after U.S. crude stocks rose less than expected, while gold…
West Virginia Targets Proxy Voting in Fight Over ESG
January 25, 2023
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In a Jan. 25 interview with The Epoch Times, West Virginia Treasurer Riley Moore outlined a new state bill intended to ensure that proxy voting for shareholders isn’t a vehicle for environmental, social, and governance (ESG) principles that undercut the interest of those shareholders. “ESG is obviously a nonsensical investment strategy that has been distorting…
Wall Street Opens Lower as Weak Earnings Updates Dent Sentiment
January 25, 2023
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Wall Street’s main indexes opened lower on Wednesday as downbeat quarterly updates from Microsoft and Boeing added to fears of a recession, with technology shares leading the declines. The Nasdaq Composite dropped 187.74 points, or 1.66 percent, to 11,146.53 at the opening bell. The Dow Jones Industrial Average fell 195.60 points, or 0.58 percent, at…
Gold Slides as Dollar Steadies, Traders Eye US Data
January 25, 2023
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Gold prices slipped on Wednesday from a nine-month peak hit in the previous session as the dollar steadied and investors squared positions ahead of U.S. fourth-quarter economic growth figures. Spot gold was down 0.6 percent to $1,925.02 per ounce at 1152 GMT, after hitting its highest since late April on Tuesday. U.S. gold futures dropped…
Oil Slips as Recession Fears Offset Market Optimism for China’s Demand Recovery
January 25, 2023
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LONDON—Oil slipped on Wednesday, adding to a decline in the previous session, as global recession worries edged out optimism for a demand recovery in China. Crude has rallied in 2023, with global benchmark Brent crude topping $89 a barrel this week for the first time since early December, on the ending of China’s COVID-19 controls…
Global Shares Mixed, China Markets Closed for Holidays
January 25, 2023
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TOKYO—Global shares were mixed Wednesday after Wall Street indexes finished little changed as investors awaited earnings results from major global companies. The U.S. government will release economic growth data for the fourth quarter on Thursday. Economists expect the economy expanded at an annual pace of less than 1 percent, down from 1.9 percent in the…
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