SINGAPORE/LONDON—Oil prices fell on Monday, deepening a multi-week decline, as a weakening global economy offset supply woes stemming from the closure of a key pipeline supplying the United States and Russian threats of a production cut. Brent crude futures were down 38 cents, or 0.4 percent, at $75.72 a barrel by 0900 GMT. U.S. West…
Oil Resumes Slide as Weak Economy Outweighs Supply Risks
December 12, 2022
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Global Shares Ease as Central Bank Rate Hikes Loom
December 12, 2022
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LONDON—Global stocks fell on Monday as investors braced for the last round of transatlantic interest rate hikes this year from a trio of central banks, hoping that a hitherto hefty pace of increases in borrowing costs will finally show signs of easing. Oil prices rose as a key pipeline supplying the United States remained shut,…
Wholesale Inflation in US Further Slowed in November to 7.4 Percent
WASHINGTON—Wholesale prices in the United States rose 7.4 percent in November from a year earlier, a fifth straight slowdown and a hopeful sign that inflation pressures across the economy are continuing to cool. The latest year-over-year figure was down from 8 percent in October and from a recent peak of 11.7 percent in March. On…
BlackRock Warns to Prepare for Recession ‘Unlike Any Other’
Investment fund BlackRock warned that 2023 may produce a worldwide recession “unlike any other” and said that what worked during previous recessions “won’t work now.” Analysts with BlackRock—a controversial investment fund that has pushed for environmental, social, and corporate governance, or ESG—say that the worldwide economy has entered a phase of higher volatility and that…
Wall Street Slips as Inflation Remains Hotter Than Expected
NEW YORK—Stocks are slipping on Wall Street after a report showed inflation is still hotter than expected, even though it is slowing. The S&P 500 was 0.3 percent lower and on pace for its sixth loss in the last seven days. The trigger was data showing prices at the wholesale level were 7.4 percent higher…
Dollar Dips Ahead of US Inflation Data, Fed Meeting Next Week
LONDON—The dollar edged lower against major currencies on Friday as concerns resurfaced about the health of the U.S. economy, and ahead of producer inflation data later in the day and a Federal Reserve meeting on interest rates next week. After a lull in market-moving news, investors are looking towards rate decisions next week—including from the…
Oil Set for 10 Percent Weekly Drop as Demand Worries Dominate
December 9, 2022
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Oil prices were stable on Friday, although both benchmarks headed for a weekly loss on worries over weak economic outlook in China, Europe, and the United States weighing on oil demand. Brent crude futures were at $76.20 a barrel, up 5 cent, at 1216 GMT. Brent hit a 2022 low this week. U.S. West Texas…
World Shares Higher Ahead of US Inflation Update
December 9, 2022
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BANGKOK—Shares were higher in Europe and Asia ahead of an update Friday on U.S. wholesale prices that will provide insights into how businesses are coping with inflation. Germany’s DAX added 0.2 percent to 14,295.30 while the CAC 40 in Paris was nearly unchanged at 6,649.30. Britain’s FTSE 100 also was little changed, gaining less than…
US Online Goods Prices Fall in Positive Sign for Fed: Adobe
December 8, 2022
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WASHINGTON—Prices for online goods in the United States fell at a nearly 2 percent annual pace in November, the fastest decline since the onset of the COVID-19 pandemic and a sign that one important aspect of overall inflation continues to slow. The month-to-month decline in the Adobe Digital Price Index, a measure of online shopping…
5 Principles of Stagflation
December 8, 2022
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Commentary Stagflation is the combination of slow or falling economic output plus high inflation. For nearly two years, we’ve been stuck in this pattern and it still feels confusing. Prices for many items like cars and homes have whipsawed around in strange ways, up one month and down the next only to repeat the pattern….
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