Wall Street‘s main indexes opened lower on Friday after data signaled resilience in the labor market in the face of the Federal Reserve’s aggressive monetary tightening. Data showed U.S. job growth slowed more than expected in June after surging in the prior month, but labor market conditions remain tight, with the unemployment rate retreating from a seven-month high and fairly strong wage…
Dollar Steady Ahead of Jobs Data, Yen Shines After Japan Wage Data
LONDON—The dollar held steady against most major currencies on Friday ahead of U.S. employment figures that could confirm rates are likely to stay higher for longer, but fell sharply against the yen, which got a boost from Japanese wage data. The U.S. nonfarm payrolls report is due later in the day and is expected to…
Oil Prices Set for 2nd Straight Weekly Gain After US Data
LONDON—Oil prices rose on Friday and were on track for their second straight weekly gain, as resilient demand resulted in a larger-than-expected fall in U.S. oil stockpiles, offsetting fears of higher U.S. interest rates. Brent crude futures were up 36 cents, or 0.5 percent, at $76.88 a barrel at 1114 GMT, while U.S. West Texas…
Stock Market Today: Asian Shares Fall as Strong US Data Dash Hopes for an End to Rate Hikes
July 7, 2023
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BANGKOK—Asian shares slipped Friday after another decline on Wall Street, where hopes for an end to interest rate hikes were again dashed by strong jobs data. U.S. futures fell and oil prices were higher. Investors were watching for updates from U.S. Treasury Secretary Janet Yellen’s visit to Beijing. Tokyo’s Nikkei 225 shed 0.6 percent to…
Stock Market Today: Wall Street Falls After Hot Jobs Data Raises Threat of High Rates
NEW YORK—Stocks fell Thursday after reports suggested the U.S. job market remains much more resilient than expected. The S&P 500 lost 35.23, or 0.8 percent, to 4,411.59. The Dow Jones Industrial Average dropped 366.38, or 1.1 percent, to 33,922.26, and the Nasdaq composite gave up 112.61, or 0.8 percent, to 13,679.04. While a sturdy labor…
How Major US Stock Indexes Fared July 6
Stocks closed lower after reports suggested the U.S. job market remains much more resilient than expected. The S&P 500 fell 0.8 percent Thursday. The Dow lost 366 points, or 1.1 percent, and the Nasdaq fell 0.8 percent. While a sturdy labor market keeps the economy out of a long-expected recession, it could also push the…
Wall Street Slides as Labor Data Stokes Rate Hike Concerns
Wall Street’s main indexes opened lower on Thursday as data signaling a resilient labor market and hawkish minutes of the Federal Reserve’s June meeting fanned fears the central bank could keep interest rates higher for longer. The Dow Jones Industrial Average fell 117.25 points, or 0.34 percent, at the open to 34,171.39. The S&P 500…
Dollar Gives Up Fed Gains; Yen and Pound Strengthen
LONDON—The dollar turned lower on Thursday as investors looked ahead to pivotal U.S. labor market data following minutes from the Federal Reserve’s June meeting, while a broad risk-off mood lent support to the Japanese yen. Minutes from the Fed’s meeting released on Wednesday showed that the vast majority of policymakers expect further tightening in U.S….
Oil Steadies as Market Digests Supply and Demand Outlook
LONDON—Oil prices were little changed on Thursday as the market digested tighter crude supply alongside fears of global economic slowdown. Brent crude futures edged up 29 cents to $76.94 a barrel by 0838 GMT after a 0.5 percent gain the previous day. U.S. West Texas Intermediate crude firmed by 37 cents to $72.16 after rising…
Stocks Slide as Rising Borrowing Costs Strike Again
July 6, 2023
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LONDON—World stocks fell for a third straight day on Thursday, after Federal Reserve meeting minutes bolstered bets on another U.S. rate hike this month and tit-for-tat trade salvos between China and the United States also dampened sentiment. Traders watched the traditional driver of global borrowing costs, the 10-year U.S. Treasury yield, climb to a fresh…
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