LONDON/SINGAPORE—The dollar hovered near a 15-month low on Friday and was set for its biggest weekly decline since November after softening U.S. inflation data fuelled investors’ bets that the Federal Reserve was close to the end of its rate hike cycle. U.S. producer prices barely rose in June and the annual increase in producer inflation…
Brent Oil Hovers Above $81 After Supply Disruptions
LONDON—Global benchmark Brent crude hovered above $81 a barrel on Friday, with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria. Both the Brent and U.S. West Texas Intermediate (WTI) contracts had risen for three straight sessions and in early Asian trade on Friday, poised to register a third straight week…
World Stocks Hit New 2023 Highs After Rally on Inflation Data
July 14, 2023
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LONDON—World stocks extended their gains on Friday, on track for their biggest weekly rise this year, while the dollar held near 15-month lows as investors bet that the U.S. Federal Reserve was nearing the end of its rate-hiking cycle. Data on Wednesday showed U.S. consumer prices growing at their slowest pace in more than two…
Stock Market Today: Wall Street’s Winning Week Stays Perfect as Inflation Eases Further
NEW YORK—Wall Street’s winning streak barreled into a fourth day Thursday following the latest signal that inflation is easing its chokehold on the economy. The S&P 500 rose 37.88, or 0.8 percent, to 4,510.04 and its highest close since April 2022. The Dow Jones Industrial Average rose 47.71, or 0.1 percent, to 34,395.14, and the…
How Major US Stock Indexes Fared July 13
Wall Street’s winning streak barreled into a fourth day following the latest signal that inflation is easing its chokehold on the economy. The S&P 500 rose 0.8 percent Thursday for its highest close since April 2022. The Dow Jones Industrial Average rose 0.1 percent, and the Nasdaq composite rallied 1.6 percent as Big Tech stocks…
Wall Street Opens Higher on Signs of Disinflation
Wall Street’s main indexes opened higher on Thursday after producer prices data provided further evidence of inflation cooling in the world’s largest economy, and stoked hopes that the Federal Reserve will soon end its monetary policy tightening. The Dow Jones Industrial Average rose 64.88 points, or 0.19 percent, at the open to 34,412.31. The S&P…
Dollar Slides After Inflation Surprise Spooks Bulls
LONDON—A sliding dollar came under more pressure on Thursday, as traders took surprisingly slow U.S. inflation as a signal U.S. interest rate rises will be all but finished by month’s end. U.S. data on Wednesday showed inflation slowed a lot faster than expected last month. That gave rise to the biggest one-day dollar sell-off in…
Oil Benchmark Brent Hovers Above $80 After Pricing in US Data
LONDON—Global oil benchmark Brent hovered above $80 a barrel on Thursday after U.S. inflation data implied interest rates in the world’s biggest economy are close to their peak. Data released on Wednesday showed U.S. consumer prices rose modestly in June and registered their smallest annual increase in more than two years as inflation continued to…
Stocks Around 2023 Highs as Disinflation Signal Brings Some Relief
July 13, 2023
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LONDON—Global stocks traded around their highs for the year on Thursday as investors bet that the Federal Reserve was finally taming inflation and could end its rate hiking cycle as soon as this month. U.S. data on Wednesday showed consumer prices rose modestly in June, registering the smallest annual increase in more than two years…
Stock Market Today: Wall Street Returns to Highest Level in More Than a Year After Inflation Cools
NEW YORK—Wall Street returned to its highest level in more than a year on Wednesday after a report showed inflation cooled a bit more than expected last month, which hopefully takes some more pressure off the economy. The S&P 500 rose 32.90, or 0.7 percent to 4,472.16 to reach its strongest closing level since April…
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