LONDON—Oil prices rose on Tuesday, supported by a softer dollar and a U.S. plan to restock petroleum reserves, but gains were capped by uncertainty over the impact of rising COVID-19 cases in top oil importer China. Brent crude futures were up 50 cents, or 0.65 percent, at $80.30 a barrel by 1035 GMT, adding to…
Oil Prices Rise but China’s COVID-19 Surge Limits Gains
December 20, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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Stocks, Bonds Fall as BOJ’s Surprise Policy Shift Spooks Investors
December 20, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global stocks and bonds fell on Tuesday as a surprise policy tweak by Japan’s central bank rattled investors already worried about the economic fallout of rising interest rates and lifted domestic bond yields to seven-year highs. The Bank of Japan (BOJ) widened the allowable band for long-term yields to 50 basis points on either side…
German Business Confidence Brightens More Than Expected
BERLIN—German business confidence improved more than expected in December as managers in Europe’s biggest economy took a brighter view of both their current situation and the outlook for the next six months, a closely watched survey showed Monday. The Ifo institute said its monthly confidence index rose to 88.6 points from 86.4 in November. Economists…
Wall Street Opens Flat, Tesla Rises on Musk Poll Outcome
Wall Street’s main stock indexes were subdued at the open on Monday after two straight weeks of losses on recession worries, while Tesla shares rose after a poll showed Elon Musk should quit as Twitter’s CEO. The Dow Jones Industrial Average rose 0.99 points, or 0.00 percent, at the open to 32,921.45. The S&P 500…
Dollar Slips as Markets Bounce
LONDON—The U.S. dollar slipped on Monday as a pick-up in market sentiment drove stocks and riskier currencies higher. The dollar index—which tracks the greenback against a basket of six major currencies—fell 0.4 percent to 104.410, reversing some of its gains from the previous week after the U.S. Federal Reserve and European Central Bank hiked rates….
Oil Bounces as China Demand Hopes Offset Recession Fears
December 19, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rose on Monday after tumbling by more than $2 a barrel in the previous session as optimism over the Chinese economy outweighed concern over a global recession. China, the world’s top crude oil importer, is experiencing its first of three expected waves of COVID-19 cases after Beijing relaxed mobility restrictions but plans to step…
Stocks Wobble as Rate Risks Cloud 2023 Outlook
December 19, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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MILAN—World stocks inched higher on Monday but stayed near 6-week lows as investors started the year’s last full trading week still mindful of interest rate hike risks to the economy in 2023. The U.S. Federal Reserve and European Central Bank hiked rates and promised more last week, and speculation is even building that the Bank…
Recession Coming in 2024: Economic Forecaster
American industry will slow down next year, then fall into a recession the year after, according to ITR Economics, an economic forecaster. “We’re still calling for more of a slowing growth cycle in 2023, but the original soft landing that we were calling around the end of 2023 now looks like it’s turning into a…
Ex-Treasury Secretary Sees Recession Coming and It Will Not Be Mild
Former Treasury Secretary and National Economic Council advisor Lawrence H. Summers sees a recession coming and that it will not be a mild one. Summers, in an interview with MSNBC on Dec. 15, said that the Federal Reserve will have to face a recession in the end if inflation is to come down. He was speaking a day…
Lumps of Coal in This Year’s Christmas Stockings?
As Americans anticipate the arrival of the holidays, it appears that many households may struggle to fill their family’s Christmas stockings this year. A new poll released on Thursday reveals that 82 percent of American respondents of likely voters have been negatively affected by inflation and higher costs. More than half that number describe themselves as…
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