The S&P 500 and Nasdaq opened higher on Tuesday (April 18) as an upbeat quarterly report from Bank of America boosted optimism about the earnings season amid concerns about a looming recession. The Dow Jones Industrial Average fell 22.02 points, or 0.06 percent, at the open to 33,965.16. The S&P 500 opened higher by 12.94…
Goldman Sachs Profit Falls in 1st Quarter as Dealmaking Sputters
Goldman Sachs Group Inc.’s first-quarter profit fell 19 percent as sluggish dealmaking eroded the Wall Street giant’s fees from investment banking, while losses from the sale of some loans from its consumer unit, Marcus, weighed on the results. Goldman booked a $470 million loss on the sale as the bank rejigs its strategy after a…
Dollar Slides After Upbeat China Data; Aussie, Pound Rise
LONDON—The dollar fell against most major currencies on Tuesday after better-than-forecast growth data from China, while strong pay figures from Britain supported the pound. China’s gross domestic product (GDP) grew 4.5 percent year-on-year in the first three months of the year, data showed on Tuesday, beating analyst forecasts for a 4 percent expansion as the…
Oil Slips on Economy Worries, Despite China Growth Data
April 18, 2023
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LONDON—Oil fell for a second day on Tuesday as upbeat Chinese economic data failed to deflect the focus from a possible increase to U.S. interest rates and wider concern about the growth outlook. Crude prices were also pressured by the Iraq federal government and Kurdistan Regional Government (KRG) taking a step towards a resumption in…
Stock Market Today: Shares Mixed Following China Growth Data
April 18, 2023
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TOKYO—Global shares were mixed Tuesday as pessimism over economic and political uncertainties remained even as China reported better-than-expected growth data. France’s CAC 40 added 0.3 percent in early trading to 7,517.90. Germany’s DAX rose nearly 0.1 percent to 15,804.68. Britain’s FTSE 100 added 0.2 percent to 7,897.45. U.S. shares were set to drift higher with…
FTX Celebrity Promoters Say Crypto Investors Cannot Sue Over Accounts
Celebrities who promoted FTX, including NFL quarterback Tom Brady and comedian Larry David, said an investor lawsuit seeking damages in the wake of the cryptocurrency exchange’s collapse should be dismissed. The proposed class action in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the United States, which required the…
House Republicans Tout Record During First 100 Days
April 17, 2023
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House Republican leaders showcased their message discipline on April 17, and made their decision to reopen the U.S. Capitol a touchstone of their record during the first 100 days of the 118th Congress. “In our first 100 days, House Republicans not only reopened the House, as our speaker talked about—the People’s House, by the way,…
Closing Prices for Crude Oil, Gold and Other Commodities (Apr. 17)
April 17, 2023
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Benchmark U.S. crude oil for May delivery fell $1.69 to $80.83 a barrel Monday. Brent crude for June delivery fell $1.55 to $84.76 a barrel. Wholesale gasoline for May delivery fell 7 cents $2.77 a gallon. May heating oil fell 3 cents to $2.61 a gallon. May natural gas rose 17 cents to $2.28 per…
Sega Offers $776 Million for Angry Birds Maker Rovio
Sega Sammy Holdings has made an offer to acquire the Angry Birds mobile game creator Rovio Entertainment, which admitted being in talks over a possible offer. The Wall Street Journal had earlier reported on April 14 that a potential $1 billion deal between the two companies was close. The Japanese company confirmed its bid to buy the…
IMF Director Urges ‘Cool-Headedness’ Amid Growing Global ‘Fragmentation’
April 17, 2023
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During last week’s Spring Meetings, Kristalina Georgieva, managing director of the International Monetary Fund (IMF), expressed concerns about “fragmentation”—the global economy splintering into rival trading blocs—warning that it could worsen the global inflation crisis. The IMF chief attributed this risk to a combination of factors, including the ongoing war in Ukraine and flaws in the…
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