Tag: global

Oil Set for 10 Percent Weekly Drop as Demand Worries Dominate

Oil prices were stable on Friday, although both benchmarks headed for a weekly loss on worries over weak economic outlook in China, Europe, and the United States weighing on oil demand. Brent crude futures were at $76.20 a barrel, up 5 cent, at 1216 GMT. Brent hit a 2022 low this week. U.S. West Texas…


World Shares Higher Ahead of US Inflation Update

BANGKOK—Shares were higher in Europe and Asia ahead of an update Friday on U.S. wholesale prices that will provide insights into how businesses are coping with inflation. Germany’s DAX added 0.2 percent to 14,295.30 while the CAC 40 in Paris was nearly unchanged at 6,649.30. Britain’s FTSE 100 also was little changed, gaining less than…


Dollar Edges Up, Investors Weigh Outlooks for Rates and Economy

LONDON—The dollar edged up on Thursday, supported by a push higher in U.S. Treasury yields, as investors weighed the outlook for Federal Reserve policy against the chances that high interest rates could lead to a recession. Next week brings a raft of major central bank decisions, including those from the Federal Reserve, the European Central…


Oil Rebounds From 2022 Lows on China Demand Hopes, Tanker Delays

LONDON—Oil rebounded on Thursday after four sessions of decline, boosted by hopes that easing anti-COVID measures in China will revive demand and by signs that some tankers carrying Russian oil have been delayed after a G7 price cap came into effect. China on Wednesday announced the most sweeping changes to its resolute anti-COVID regime since…


World Shares Mixed Ahead of US Jobless, Inflation Data

BANGKOK—Shares were mixed in Europe and Asia ahead of the release Thursday and Friday of U.S. jobless and inflation data. U.S. futures turned higher and oil prices rebounded. Investors are watching for data that may yield more insights into inflation’s path ahead and how the Fed will continue fighting high prices. The U.S. will release…


Climate Protesters Hurl Paint at Milan’s La Scala Opera House

MILAN—Climate-change activists in Italy on Wednesday threw paint at the entrance of Milan’s famed La Scala opera house ahead of the opening performance of the season, local police said. Activists have staged high-profile protests across Europe in recent months, sometimes targeting museums and art works. The Ultima Generazione (Last Generation) movement said in a statement…


Dollar Flat as Growth Outlook Darkens, Yuan Firms as China Eases Curbs

SINGAPORE/LONDON—The dollar was little changed on Wednesday after some of the biggest U.S. banks warned of an impending recession, while China’s yuan firmed as authorities loosened some of the country’s zero-COVID rules. Top bankers from JPMorgan Chase & Co., Bank of America, and Goldman Sachs said overnight that the banks are bracing for a worsening…


Oil Falls Close to 2022 Lows on Economic Worries, Easing Supply Fears

LONDON—Oil weakened on Wednesday, with Brent crude falling close to its lowest this year, pressured by concern about recession and easing fears that a Western cap on Russian oil prices would significantly curb supply. Warnings from big U.S. banks about a likely recession next year weighed, and supported the U.S. dollar. A stronger dollar makes…


Stocks Sputter as Growth Fears Offset China COVID-19 Shift

MILAN/SINGAPORE—World stocks eased on Wednesday and bonds remained supported after a chorus of Wall Street bankers warned about a likely recession ahead, tempering optimism about China’s major shift in its tough zero-COVID policy. Top executives at Goldman Sachs, J.P. Morgan, and Bank of America all sounded downbeat in remarks on Tuesday about the economic outlook,…


Dollar Kept Aloft by Higher Fed Rates Bets, RBA Rate Hike Lifts Aussie

LONDON—The U.S. dollar index edged lower on Tuesday but stuck close to levels reached this week in the wake of strong services data in the United States which fuelled expectations for higher interest rates than recently forecast. The Australian dollar perked up from near one-week lows after the Reserve Bank of Australia (RBA) raised rates…