U.S. stock index futures slipped on Monday as surging commodity prices added to inflation worries, which could cloud the earnings season set to start with Wall Street banks later this week. Rising raw material costs, labor shortages, and other supply chain bottlenecks have raised concerns of elevated prices denting corporate profit. U.S. oil rose nearly…
Futures Dip as Oil Rally Fuels Inflation Worries
October 11, 2021
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Wall Street Rises as Big Tech, Financials Gain
October 11, 2021
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U.S. stock indexes rose on Monday as growth and financial stocks gained, shrugging off inflation worries in the run up to third-quarter earnings reports from later this week. Mega-caps Apple Inc., Tesla Inc., and Microsoft Corp, rose between 0.6 percent and 1 percent, with nine of the 11 major S&P 500 sector indexes trading higher….
Crude Jumps on Global Energy Crunch; US Oil at 7-Year High
October 11, 2021
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LONDON—Oil prices rose 2 percent on Monday, extending multiweek gains as an energy crisis gripping major economies shows no sign of easing amid a pick up in economic activity and restrained supplies from major producers. Brent crude was up $1.62 cents, or 2 percent, at $84.01 a barrel by 0914 GMT, The highest level since…
Surging Oil Prices Lift Material, Energy Stocks on Wall Street
October 11, 2021
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NEW YORK/LONDON—Oil prices surged again on Monday to multi-year peaks, giving a fillip to materials and energy shares and helping U.S. stocks to reverse early declines as investors looked past stagflation risks for now. U.S. crude jumped 2.28 percent to $81.16 per barrel, a level not seen since late 2014, and Brent rallied 1.9 percent…
Rising Yields Lift Dollar as Oil Surges
October 11, 2021
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LONDON/SYDNEY—World shares edged higher on Monday courtesy of gains in China, while rising Treasury yields lifted the dollar to a near three-year peak against the Japanese yen. Brent oil prices extended their bull run to reach ground last visited in late 2018, with gains across the energy complex stoking inflation concerns. “Higher energy prices, shortages…
Stagflation Fears Stalk Shares, Rising Yields Lift Dollar
October 11, 2021
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LONDON—Stagflation jitters stunted growth in global shares on Monday, while bets that major central banks will tighten monetary policy pushed up bond yields and lifted the dollar to a near three-year peak against the Japanese yen. Brent oil prices extended their bull run to reach ground last visited in late 2018, with gains across the…
Wall Street Week Ahead: Energy Price Spike Adds Market Risk as Earnings Arrive
October 9, 2021
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NEW YORK—U.S. stock market investors are gauging whether more volatility is ahead because of surging global energy prices, which could drive up inflation, erode profit margins, and pressure consumer spending. Stocks rebounded this week after Monday’s losses left the S&P 500 down 5.2 percent from its record high hit in September. A truce in the…
Wall Street Mixed After September Jobs Miss
October 8, 2021
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U.S. stocks oscillated between gains and losses on Friday after data showed U.S. jobs rose far less than expected in September, but not slow enough to throw the Federal Reserve off its presumed course of tapering asset purchases this year. Six of the 11 major S&P sectors declined, with defensive real estate, healthcare, and utilities…
Valuations of Asian Stocks Slip to a 16-Month Low
October 8, 2021
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Valuations of Asian equities hit a 16-month low at the end of September, as concerns over an economic slowdown in China and growing expectations of monetary policy tightening by major central banks dragged down equity markets. The MSCI Asia-Pacific index fell 2.3 percent last month and its forward 12-month P/E ratio was 14.6 at the…
Take Five: Inflation, Energy and Earnings
Inflation angst and soaring energy prices form the backdrop to the start of third-quarter U.S. earnings season in the coming week. Annual meetings of the World Bank and International Monetary Fund (IMF) kick off too from Monday, but the event is overshadowed by a data-rigging scandal that threatens the career of IMF boss Kristalina Georgieva….
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