LONDON—Oil prices edged higher on Wednesday as Saudi Arabia’s surprise weekend pledge to deepen output cuts outweighed weak Chinese export data. Brent crude futures were up 36 cents, or 0.5 percent, at $76.65 a barrel by 0949 GMT while U.S. West Texas Intermediate crude futures gained 37 cents, or 0.5 percent, to $72.11. Both benchmarks…
European Shares Dip as Chinese Trade Data Disappoints, Lira Plunges to Record Low
June 7, 2023
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LONDON—European stock markets dipped on Wednesday and the U.S. dollar nudged higher as weak Chinese trade data had investors fretting about softening global demand, with attention turning towards next week’s pivotal inflation data and Federal Reserve meeting. Meanwhile, Turkey’s lira plunged to a record low against the greenback as authorities appeared to loosen stabilising measures…
Binance Lawsuit Triggers $700M in Withdrawals
June 7, 2023
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The Securities and Exchange Commission (SEC) lawsuit against crypto platform, Binance, triggered over $700 million in withdrawals as crypto traders continued to face losses. The SEC filed 13 charges against Binance and its CEO, Changpeng “CZ” Zhao, for allegedly participating in an “extensive web of deception” to mislead customers and evade federal regulatory laws. The case against…
Binance Lawsuit Triggers $700 Million in Withdrawals
June 7, 2023
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binanceBusiness & MarketsCompaniesCrime & Public Safetycrypto currencycryptocurrencyeconomyExecutive BranchInvestmentMarketsMedia & Big TechPolicies & ImpactsPoliticsSecurities and Exchange CommissionstocksTechTech NewsUS
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The Securities and Exchange Commission (SEC) lawsuit against crypto platform, Binance, triggered over $700 million in withdrawals as crypto traders continued to face losses. The SEC filed 13 charges against Binance and its CEO, Changpeng “CZ” Zhao, for allegedly participating in an “extensive web of deception” to mislead customers and evade federal regulatory laws. The case against…
Stock Market Today: Wall Street Inches Higher Toward Edge of Bull Market
NEW YORK—U.S. stocks drifted higher Tuesday amid a vacuum of market-moving data, nudging Wall Street closer to the edge of what’s called a bull market. The S&P 500 rose 10.06 points, or 0.2 percent, to 4,283.85. It’s just 0.2 percent away from finishing a day 20 percent above where it was in mid-October, as a…
How Major US Stock Indexes Fared June 6
Stocks drifted on Wall Street amid a vacuum of market-moving data. The S&P 500 rose 0.2 percent Tuesday. The Dow Jones Industrial Average closed up 10 points while the Nasdaq added 0.4 percent. Banks were some of the bigger gainers, recovering from their struggles earlier this year after high interest rates helped cause several high-profile…
Wall Street Opens Lower as Mixed Data Fuels Fed Policy Uncertainty
Wall Street’s main indexes opened slightly lower on Tuesday as investors assessed chances of the Federal Reserve holding interest rates at its meeting next week, with mixed data adding to uncertainty around the policy outlook. The Dow Jones Industrial Average fell 15.19 points, or 0.05 percent, at the open to 33,547.67. The S&P 500 opened…
Aussie Jumps on RBA Hike, US Dollar Steady
LONDON—The Australian dollar jumped to its highest since mid-May on Tuesday after the Reserve Bank of Australia (RBA) raised interest rates, in a decision that many analysts had said would be a close call between a hike and a pause. The U.S. dollar was steady, below last week’s 2–1/2-month highs versus major peers, after unexpectedly…
Oil Falls as Economic Fears Overshadow Saudi Output Cut
June 6, 2023
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LONDON—Oil prices tumbled more than $1 a barrel on Tuesday, after a strong rally in the previous session as worries about the global economic growth outweighed Saudi Arabia’s pledge to deepen output cuts. Brent crude futures were down $1.33, or 1.73 percent, to $75.38 a barrel by 0923 GMT. U.S. West Texas Intermediate crude fell…
World Stocks Tread Water as Traders Eye Fed Pause Prospects
June 6, 2023
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LONDON—European stocks started Tuesday mixed, as soft U.S. economic data reinforced expectations the Federal Reserve may skip an interest rate hike when it meets next week. The pan-European STOXX 600 index was up 0.1 percent to 460.40 at 0830 GMT. In the previous session, the index dropped as data pointing to tepid U.S. business activity…
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