Global shares edged higher on Tuesday, tracking a rebound on Wall Street ahead of a key U.S. inflation report and speeches by Federal Reserve members, while the yen recouped losses after Japan nominated a new central bank governor. European shares cheered an upbeat handover from Asia, with the pan-European STOXX 600 up 0.5 percent, hovering…
Global Shares Edge Higher Ahead of US Inflation Data, Yen Firms
February 14, 2023
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Wall Street Climbs Higher on Megacap Boost
U.S. main stock indexes opened higher on Monday as beaten-down megacap growth stocks gained, while Meta Platforms climbed on reports of fresh layoffs. The Dow Jones Industrial Average .DJI rose 18.12 points, or 0.05 percent, at the open to 33,887.39. The S&P 500 .SPX opened higher by 6.16 points, or 0.15 percent, at 4,096.62, while…
Yen Slides, Dollar Index Near 5-week High as CPI Looms
TOKYO/LONDON—The dollar edged toward a five-week high versus major peers on Monday as the Japanese yen slid and investors increased bets on the Federal Reserve keeping monetary policy tight for longer. The major event this week will be the release of U.S. consumer price data on Tuesday, which will drive expectations for the Fed’s policy….
Oil Falls on Demand Fears as Fed ‘Make or Break Moment’ Approaches
February 13, 2023
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LONDON—Oil prices slumped by about 1 percent on Monday as investors focused on short-term demand concerns ahead of key U.S. inflation data. Brent crude futures fell $1.14, or 1.3 percent, to $85.25 a barrel by 1005 GMT after a 2.2 percent gain on Friday. U.S. West Texas Intermediate crude was down $1.11, or 1.3 percent,…
Shares Steady, Dollar Gains Ahead of US Inflation Data
February 13, 2023
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LONDON/SYDNEY—Global shares steadied, while the dollar rose on Monday, ahead of U.S. inflation data that could define the outlook for global interest rates, while news that the U.S. air force had shot down another airborne object created some geopolitical uncertainty. Officials declined to say whether this object, which was spotted along the Canadian border and…
UK Economy ‘Not out of the Woods’ Despite Avoiding Recession: Chancellor
The UK is “not out of the woods” despite avoiding a recession by a tiny margin last year, Chancellor of the Exchequer Jeremy Hunt has warned. The country’s GDP was flat in the last three months of 2022, according to new data released by the Office for National Statistics (ONS) on Feb. 10. The ONS…
Wall Street Edges Lower; Lyft Sinks on Dour Outlook
U.S. main stock indexes opened lower on Friday, with megacap growth companies under pressure after Treasury yields extended gains, while shares of Lyft plunged as the ride-hailing firm forecast current-quarter profit well below estimates. The Dow Jones Industrial Average fell 28.34 points, or 0.08 percent, at the open to 33,671.54. The S&P 500 opened lower…
‘Rolling Recession’ and Why America May Be in One: Experts
America may be about to enter or could currently be in the midst of a “rolling recession” rather than a full-blown economic downturn or a soft landing, according to experts. Nick Reece, vice president of macro research and investment strategy at Merk Investments and a member of the Portfolio Management Group, took to Twitter earlier in January where he…
Applications for Jobless Aid Rise Last Week, but Remain Low
More Americans filed for jobless benefits last week, but layoffs remain historically low despite attempts by the Federal Reserve to cool the economy, and hiring, to bring down inflation. Applications for jobless aid in the U.S. for the week ending Feb. 4 rose by 13,000 last week to 196,000, from 183,000 the previous week, the…
Global Shares Fall, Eyes on Inflation, Earnings, Growth
February 10, 2023
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TOKYO—Global shares were mostly lower on Friday after Wall Street retreated for a second day as market watchers considered earnings reports and various indicators about whether inflation is waning in the U.S. and elsewhere. France’s CAC 40 lost 0.3 percent in early trading to 7,169.30, while Germany’s DAX shed 0.4 percent to 15,455.07. Britain’s FTSE…
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