SINGAPORE—The dollar began the last trading week of the month on a firmer footing, with traders awaiting a slew of central bank policy meetings that could signal how soon the steep increases in interest rates globally might come to an end. U.S. Federal Reserve policymakers are widely expected to raise rates by another 25 basis…
Oil Prices Steady on Uncertain Global Outlook and Supply Concerns
April 24, 2023
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LONDON—Oil prices were steady on Monday as concern over rising interest rates, the global economy and the outlook for fuel demand were balanced by the prospect of tightening supplies. Brent crude slipped 22 cents, or 0.3 percent, to $81.44 a barrel by 0905 GMT. U.S. West Texas Intermediate crude was down 10 cents, or 0.1…
Stock Markets Today: Global Stocks Lower Ahead of US Data
April 24, 2023
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BEIJING—Global stocks and Wall Street futures declined Monday ahead of a U.S. economic update that is expected to show growth slowing. London and Frankfurt opened lower. Shanghai and Hong Kong declined while Tokyo advanced. Oil prices fell. Wall Street’s benchmark S&P 500 index gained 0.1 percent on Friday but ended with a small loss for…
Tesla Wins Bellwether Trial Over Autopilot Car Crash
April 22, 2023
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LOS ANGELES—A California state court jury on Friday handed Tesla Inc. a sweeping win, finding the electric vehicle maker’s Autopilot feature did not fail in what appeared to be the first trial related to a crash involving the partially automated driving software. Tesla has been testing and rolling out its Autopilot and more advanced “Full…
Stock Market Today: Stocks Close Quiet Week With Small Gains
Stocks capped a listless day of trading Friday with slight gains for the major stock indexes, closing out a quiet week on Wall Street highlighted by a batch of mostly mixed corporate earnings reports. The S&P 500, Dow Jones Industrial Average, and Nasdaq composite all gained 0.1 percent after drifting between small gains and losses…
US Firms Positioned to Withstand Tougher Lending Conditions, Says Goldman Sachs
April 21, 2023
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Goldman Sachs Group still believes that American companies are positioned to withstand tougher lending conditions caused by the latest bank crisis. The investment bank said that U.S.-based firms are less reliant on banks for capital, compared with their peers overseas, reported Bloomberg. A tightening of loan conditions could have a smaller impact for the banking…
US Lawmakers Went on Bank Stock-Selling Spree Amid Banking Crisis
Dozens of members of Congress and their close relatives continued to sell off banking stocks amid the extreme financial turbulence in March prompted by the collapse of Silicon Valley Bank (SVB), according to an analysis by Capitol Trades. Many of the selloffs came at the same time as some of the lawmakers were actively meeting with banking…
The Fed Has Been Raising Rates, But What’s Next?
April 21, 2023
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On March 22, 2023, the Federal Reserve raised the target fed funds rate from 4.75 to 5.00 percent. This marked a 475 bps increase in interest rates since March 2022. With the Fed’s next planned meeting scheduled for May 2023, many are wondering if the Fed will continue the trend of aggressive rate hikes, keep…
Wall Street Subdued at Open, Focus on Business Activity Data
U.S. stock indexes were subdued at the open on Friday as investors digested a mixed bag of earnings reports, while awaiting more data for clues on the outlook for U.S. interest rates and the economy. The Dow Jones Industrial Average rose 6.98 points, or 0.02 percent, at the open to 33,793.60. The S&P 500 opened…
Dollar Heads for 1st Weekly Gain Since February
LONDON—The dollar headed for its first weekly gain in nearly two months on Friday as investors raised their bets that the Federal Reserve will increase rates in May, while the euro drew some support from a surprising recovery in the eurozone economy in April. The dollar index, which measures the performance of the U.S. currency…
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