Wall Street’s main indexes opened mixed on Tuesday ahead of jobs data that could decide the Federal Reserve’s monetary tightening path, while Tesla gained as sales of its China-made electric vehicles rose in March. The Dow Jones Industrial Average fell 6.36 points, or 0.02 percent, at the open to 33,594.79. The S&P 500 opened higher…
Pound Hits Highest Since June, Euro up as Dollar Under Pressure
LONDON/SINGAPORE—The pound rose to a new 10-month high against the dollar on Tuesday, and the euro reached its highest in two months, as the greenback continued to be hurt by market bets that the end of the U.S. rate-hiking cycle is near. Sterling reached $1.2475, its highest since June 2022, and was last just below…
Oil Extends Gains on OPEC+ Surprise Cuts
April 4, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Tuesday after OPEC+ plans to cut more production jolted markets the previous day, with investors’ attention shifting to demand trends and the impact of higher prices on the global economy. Brent crude futures were up 43 cents, or 0.5 percent, to $85.36 a barrel by 0925 GMT. U.S. West Texas Intermediate…
Shares Rise, but Concern Mounts Over Inflation Flare-Up
April 4, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global stocks rose in cautious trade on Tuesday as investors grappled with the possibility of a flare-up in inflation due to the OPEC+ group’s surprise output cut, while the dollar sagged after weak U.S. manufacturing data the previous day. An announcement on Sunday of an output target cut by the Organization of the Petroleum Exporting…
Rental Market Bust Just Around the Corner, Experts Warn
April 4, 2023
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Business & Marketseconomic policieseconomyinflationInvestmentMarketspersonal financereal estatereal estate bubblerecessionrental costsUSUS NewsUS Real Estate
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The collapse of the U.S. rental market is just around the corner, some real estate experts warn. Rental prices finally dropped to pre-pandemic levels last month after millions of Americans struggled to keep up with skyrocketing housing costs since the start of the pandemic. In a series of recent tweets, Nick Gerli, the CEO & Founder of…
Home Prices Suddenly Jump After 7 Months Of Declines
April 3, 2023
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Business & Marketseconomic policieseconomyhousing marketinflationInvestmentMarketspersonal financereal estateU.S. home pricesUS Real Estate
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U.S. home prices have suddenly jumped after seven months of declines, according to a recent report. Home prices rose 0.16 percent nationally in February compared to January, when adjusted for seasonality, according to Black Knight’s latest Mortgage Monitor Report from April 3. This was the first monthly increase after seven months of declining housing costs. A…
Federal Reserve Making Worst ‘Policy Mistake in Several Decades’, Top Economist Warns
April 3, 2023
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Business & Marketseconomic policieseconomyFederal Reserveinflationjerome powellMarketsMohamed El-ErianrecessionUSUS News
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The Federal Reserve’s year-long aggressive monetary tightening efforts could turn out to be one of the most significant policy errors in the last several decades, according to renowned economist Mohamed El-Erian. El-Erian shared excerpts from the Peterson Institute for International Economics (PIIE) and the Financial Times that reinforced his view that the U.S. central bank…
Stocks End Mixed as Jump in Oil Prices Fans Inflation Fears
NEW YORK—Stock markets around the world were mixed Monday, as a jump in oil prices threatens to add upward pressure on inflation. The S&P 500 gained 15.20 points, or 0.4 percent, to 4,124.51, though more stocks in the index fell than rose. The Dow Jones Industrial Average climbed 327.00, or 1 percent, to 33,601.15, while…
Closing Prices for Crude Oil, Gold and Other Commodities (Apr. 3)
April 3, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for May delivery rose $4.75 to $80.42 a barrel Monday. Brent crude for June delivery rose $5.04 to $84.93 a barrel. Wholesale gasoline for May delivery rose 8 cents to $2.76 a gallon. May heating oil rose 4 cents to $2.66 a gallon. May natural gas fell 12 cents to $2.10…
WWE and UFC Agree to Massive Merger Creating $21 Billion Company
World Wrestling Entertainment (WWE) and Ultimate Fighting Championship (UFC) have agreed to merge and create a newly combined wrestling entertainment company. The new entity will be called “NewCo,” until it is named at a later date, and will be listed on the New York Stock Exchange as TKO. WWE and Endeavor, the parent company of…
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