U.S. stock indexes edged lower on Monday with Tyson Foods falling on disappointing quarterly results, while investors re-assessed their predictions on when the U.S. Federal Reserve would start cutting rates. The Dow Jones Industrial Average fell 51.57 points, or 0.15 percent, at the open to 33,874.44. The S&P 500 opened lower by 16.91 points, or…
Dollar Surges on Robust US Jobs Data, While Lira, Yen Slump
LONDON—The dollar surged to a three-week high against the euro on Monday, with traders expecting the U.S. Federal Reserve to lift its benchmark rate above 5 percent to squeeze inflation after data showed the labor market remains strong. An earthquake in central Turkey and northwest Syria and a strong U.S. dollar added pressure on emerging…
Oil Prices Edge Higher, Interest Rate Outlook Limits Gains
February 6, 2023
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LONDON—Oil prices inched higher on Monday, recovering from an 8 percent fall last week to more than three-week lows, driven by expectations slower growth in major economies may limit fuel use. Brent crude futures rose 17 cents, or 0.2, to $80.11 a barrel at 0946 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped…
Global Shares Slide as Interest-Rate Risk Rises and Geopolitics Heat Up
February 6, 2023
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LONDON—Global shares tumbled on Monday, after a run of upbeat economic data suggested interest rates will have to rise further and stay higher for longer, while a stronger dollar and political turbulence hit risk-linked assets. Last week’s blockbuster U.S. jobs report sent investors scurrying to load up on dollars to the detriment of emerging market…
Wall Street Rally Hits Wall of Hot Jobs, Cold Earnings Data
NEW YORK—Wall Street’s big rally to start the year wilted on Friday after a surprisingly strong jobs report fueled worries about inflation and higher interest rates. The S&P 500 fell 1 percent for its first drop in four days, though it took an up-and-down route to get there. The bond market was more decisive in…
Wall Street Tumbles at Open as Jobs Data Fans Higher Rate Worries
February 3, 2023
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Wall Street’s main indexes opened lower on Friday after data showed the economy added jobs at a rapid pace last month, feeding into fears that the Federal Reserve could keep interest rates higher for longer in its fight against inflation. The Dow Jones Industrial Average fell 127.64 points, or 0.37 percent, at the open to…
Dollar Slips as Euro Picks Up Ahead of US Jobs Data
LONDON—The dollar slipped on Friday as investors awaited the latest U.S. jobs figures, after jumping in the previous session following a raft of central bank decisions. The U.S. currency dipped against the euro, reversing earlier gains. The euro was last up 0.17 percent to $1.093, remaining far above September’s 20-year low of $0.953. The Federal…
Oil Steadies as Market Eyes China Recovery and EU Embargo
February 3, 2023
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LONDON—Oil prices steadied on Friday but were on track for a second week of losses as the market awaited further signs of fuel demand recovery in China and the impact of an EU embargo and price cap on Russian oil products. Brent crude futures fell 18 cents, or 0.2 percent, to $81.99 a barrel by…
Global Shares Trade Mixed Ahead of US Jobs Report
February 3, 2023
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TOKYO—Global shares were trading mixed Friday ahead of a closely watched U.S. jobs report that may affect global interest rates. France’s CAC 40 lost 0.7 percent in early trading to 7,116.31, while Germany’s DAX dipped 0.9 percent to 15,362.64. Britain’s FTSE 100 added 0.2 percent to 7,832.20. U.S. shares were set to drift lower with…
Ford Posts Lower Profit, Issues Downbeat Outlook; Shares Drop
DETROIT—Ford Motor Co. on Thursday said quarterly profits fell and the automaker predicted a difficult year ahead, sending its shares down after the bell as investors were disappointed following this week’s robust report from rival General Motors Co. Ford blamed chip shortages and other supply chain issues and production “instabilities” that raised costs, along with…
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