LONDON—The U.S. dollar eased from a 2–1/2-month high versus the yen on Friday and looked set for its first weekly loss against major peers since January as traders tried to gauge the path for Federal Reserve policy. The yen, which is particularly sensitive to U.S.–Japanese long-term interest rate differentials, looked set to halt its six-week…
Oil Prices Stable, Heading for Weekly Gain
March 3, 2023
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LONDON—Oil prices held steady on Friday, poised to register a weekly gain as renewed optimism on China’s demand recovery overrode recession worries over growing U.S. crude inventories and tightening monetary policy in Europe. Brent crude futures edged up by 4 cents, or 0.05 percent, to $84.79 a barrel by 0936 GMT. U.S. West Texas Intermediate…
Global Stocks Follow Wall Street Higher on Interest Rate Hopes
March 3, 2023
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BEIJING—Global stock markets advanced Friday after a Federal Reserve official raised hopes the U.S. central bank might not step up its anti-inflation fight as much as feared. London, Shanghai, Frankfurt, and Tokyo gained. Oil prices edged higher. Wall Street rose Thursday for the first time in three days after the president of the Federal Reserve…
S&P 500, Nasdaq Fall as Yields Rally
The S&P 500 and the Nasdaq opened lower on Thursday as the 10-year Treasury yield surged above 4 percent on bets of tighter monetary policy for a longer period, while Tesla fell after it gave few details on its affordable electric vehicle. The Dow Jones Industrial Average rose 119.13 points, or 0.36 percent, at the…
Euro Falls Against the Dollar After Eurozone Inflation Data
LONDON—The euro fell against the dollar on Thursday after data showed inflation in the eurozone was not as high as investors had feared based on national readings in recent days. Eurozone inflation eased to 8.5 percent in February from 8.6 percent a month earlier on lower energy prices, but still came in above a predicted…
Oil Gains on China Growth, but European Inflation Weighs
March 2, 2023
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LONDON—Oil edged higher on Thursday, though gains made on signs of a strong economic rebound in top crude importer China were kept in check by fears over the impact of potential increases to European interest rates. Brent crude futures rose 43 cents, or 0.51 percent, to $84.74 a barrel by 1017 GMT. U.S. West Texas…
Global Stocks Lower After Inflation Fuels Rate Fears
March 2, 2023
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BEIJING—Global stock markets declined Thursday after signs of enduring upward pressure on U.S. and European prices raised expectations that interest rates will stay higher for longer. London, Shanghai, Frankfurt, and Tokyo retreated. Oil prices fell. Wall Street futures were lower after a survey showed prices paid by U.S. manufacturers rose in February for the first…
Novavax Raises Doubts About Ability to Remain in Business, Shares Fall
NEW YORK—COVID-19 vaccine maker Novavax Inc. on Tuesday raised doubts about its ability to remain in business and announced plans to slash spending as it works to prepare for a fall vaccination campaign, and its shares plunged more than 25 percent. The company said there is significant uncertainty around its 2023 revenue, funding from the…
Stocks Slip as Stubborn Inflation Raises Rate Expectations
NEW YORK—Most stocks marched lower Wednesday as stubbornly sticky inflation has Wall Street bracing for interest rates to stay higher for longer. The S&P 500 fell 0.5 percent in its first trading after coming off a frigid February. The Dow Jones Industrial Average edged up by 5 points, or less than 0.1 percent, while the…
Wall Street Opens Lower as Yields Rise Again
Wall Street’s main indexes opened lower on Wednesday as Treasury yields rose on bets of more rate hikes by the Federal Reserve that offset optimism from strong China manufacturing data. The Dow Jones Industrial Average fell 0.33 points, or 0.00 percent, at the open to 32,656.37. The S&P 500 opened lower by 6.81 points, or…
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