WASHINGTON—The number of Americans filing new claims for jobless benefits increased moderately last week, while unemployment rolls hit a 10-month high towards the end of November, suggesting the labor market was gradually slowing down. Still, labor market conditions remain tight, keeping the Federal Reserve on course to continue increasing interest rates as it fights inflation….
Dollar Edges Up, Investors Weigh Outlooks for Rates and Economy
LONDON—The dollar edged up on Thursday, supported by a push higher in U.S. Treasury yields, as investors weighed the outlook for Federal Reserve policy against the chances that high interest rates could lead to a recession. Next week brings a raft of major central bank decisions, including those from the Federal Reserve, the European Central…
Oil Rebounds From 2022 Lows on China Demand Hopes, Tanker Delays
December 8, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rebounded on Thursday after four sessions of decline, boosted by hopes that easing anti-COVID measures in China will revive demand and by signs that some tankers carrying Russian oil have been delayed after a G7 price cap came into effect. China on Wednesday announced the most sweeping changes to its resolute anti-COVID regime since…
World Shares Mixed Ahead of US Jobless, Inflation Data
December 8, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares were mixed in Europe and Asia ahead of the release Thursday and Friday of U.S. jobless and inflation data. U.S. futures turned higher and oil prices rebounded. Investors are watching for data that may yield more insights into inflation’s path ahead and how the Fed will continue fighting high prices. The U.S. will release…
NYC Bill Seeks to Make It Harder for Businesses to Fire Workers
December 8, 2022
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BusinessBusiness & Marketseconomic policieseconomyLocal NewsNew YorkNY NewsPolicies & ImpactsrecessionRegional-Local NewsUSUS News
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A New York City Democratic councilwoman has proposed a new law that would make it harder for all city employers to fire workers, requiring that they have a good reason to do so. City Council Member Tiffany Cabán introduced the bill, which she said will “establish protections against unfair and arbitrary firings for every worker in NYC”…
Where Does Wall Street See US and Global Stocks in 2023?
It was a year that investors will not look back on with great nostalgia, as all three leading benchmark indexes touched bear market territory before paring some of their losses. Year to date, the Dow Jones Industrial Average tumbled about 8 percent, the Nasdaq Composite Index cratered roughly 30 percent, and the S&P 500 Index…
Bank of Canada Hints at End of Rate Hikes While Delivering Another Half-Point Increase
News Analysis OTTAWA—While the Bank of Canada likely raised interest rates more than consensus expectations, it clearly signalled that the Dec. 7 increase of 50 basis points—half a percentage point—may be the last of its current rate-hiking cycle, according to analysts. The central bank’s policy interest rate is now 4.25 percent, but language about future…
Wall Street Opens Lower as Recession Worries Mount
Wall Street’s main indexes opened lower on Wednesday as warnings of a looming recession from major Wall Street bankers offset optimism around China relaxing its strict zero-COVID rules. The Dow Jones Industrial Average fell 39.9 points, or 0.12 percent, at the open to 33556.4. The S&P 500 fell 8.0 points, or 0.20 percent, at the…
More Than 40 Percent of Americans Expect the Housing Market to Crash Next Year: Survey
December 7, 2022
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Business & Marketseconomisteconomyhousing crashhousing markethousing salesinflationlendingtreeLifestyleMarketsmortgage ratesreal estaterealtorrecessionUSUS NewsUS Real Estate
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A lot of consumers have a very gloomy outlook about the market due to news of mass layoffs, high inflation, and rising credit card debt, according to a new survey that shows 41 percent of Americans believe the housing market will crash next year. The survey was conducted on more than 2,000 American consumers by…
ECB Survey Shows Rising Inflation Expectations for Year Ahead
December 7, 2022
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Business & MarketsECBeconomic policieseconomyenergyEuropeeurozoneGold and CommoditiesinflationMarketsrecessionSurveyWorld
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FRANKFURT—Eurozone consumer expectations for inflation in the year ahead rose in October but predictions for three years out held steady at a rate still well above the European Central Bank’s 2 percent target, the ECB said in a monthly survey on Wednesday. Inflation soared this year on sky high energy and food prices, and the…
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