BANGKOK—Shares rose in early European trading after closing mostly lower in Asia ahead of the release of consumer price data in the U.S. Benchmarks advanced in Paris, London, Tokyo, and Sydney but fell in Hong Kong, Shanghai, and Seoul. Oil prices rose while U.S. futures edged lower. Friday will bring the core U.S. personal consumption…
Global Stocks Mixed After Wall Street Breaks Losing Streak
February 24, 2023
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Wall Street Opens Higher as Nvidia Offsets Fed Jitters
Wall Street’s main stock indexes opened higher on Thursday as a strong sales forecast from Nvidia boosted chipmakers, although a surprise fall in weekly jobless claims added to worries that the Federal Reserve will keep raising interest rates for longer. The Dow Jones Industrial Average rose 130.30 points, or 0.39 percent, at the open to…
US Applications for Jobless Benefits Fall Again Last Week
February 23, 2023
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The number of Americans filing for jobless aid fell last week as the labor market remains resilient in the face of the Federal Reserve’s interest rate increases meant to cool the economy. Applications for unemployment benefits in the U.S. for the week ending Feb. 18 fell by 3,000 last week to 192,000, from 195,000 the…
Dollar Index Hits 7-week High on Higher-for-Longer US Rates
LONDON—The dollar index rose to its highest in nearly seven weeks on Thursday, a day after minutes from the Federal Reserve’s last policy meeting that supported, but did not add to markets’ view the central bank will raise rates further. The index, which tracks the greenback against six major peers touched 104.68, its highest since…
Oil Prices Stabilize, but Rise in US Inventories Looms
LONDON—Oil prices stabilized on Thursday after Brent crude posted its biggest one-day loss for seven weeks in the previous session, with gains on Russian supply curbs capped by an expected rise in U.S. inventories. Brent crude futures rose 25 cents, or 0.3 percent, to $80.85 a barrel by 1004 GMT, compared with about $98 a…
Global Stocks Mixed After Fed Officials Support Higher Rates
February 23, 2023
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BEIJING—Global stock markets were mixed Thursday after notes from a Federal Reserve meeting showed officials expect more U.S. interest rate hikes to fight stubborn inflation. London, Shanghai, and Hong Kong declined. Frankfurt and Wall Street futures advanced. Japanese markets were closed for a holiday. Notes from the latest Federal Reserve board meeting showed members expect…
Citigroup Expects ‘Less Hard’ Landing for Global Economy This Year
February 22, 2023
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Citigroup economists on Wednesday raised their global growth forecast slightly and see a “less hard” landing but still expect the world’s economy to grow at the slowest pace in 40 years. The Wall Street brokerage now sees global growth slowing this year to about 2.2 percent, 0.25 percent higher than their previous estimate due to…
Dollar Builds on Gains as Economy Shines in February
LONDON/SINGAPORE—The dollar rose slightly on Wednesday, continuing to trade near six-week highs on the back of strong economic data. Survey data released on Tuesday showed U.S. business activity unexpectedly rebounded in February to reach its highest in eight months. In the eurozone, a survey-based gauge of activity also surged, hitting a nine-month high. The signs…
Oil Falls on Fuel Demand Woes Ahead of US Fed Comments
February 22, 2023
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LONDON—Oil prices fell for a third trading session on Wednesday as concerns about fuel demand were stoked by expectations that minutes due from the U.S. Federal Reserve will indicate a need to hike interest rates. Brent crude futures for April delivery fell $1.13, or 1.36 percent, to $81.92 a barrel by 1025 GMT. West Texas…
Global Shares Follow Wall Street Lower in Rate Hike Fears
February 22, 2023
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TOKYO—Global shares declined Wednesday after stocks tumbled on Wall Street as worries persist about higher interest rates and their tightening squeeze on the global economy. France’s CAC 40 slipped nearly 0.8 percent in early trading to 7,252.50. Germany’s DAX fell 0.7 percent to 15,290.37. Britain’s FTSE 100 dropped 0.9 percent to 7,902.44. The futures for…
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