SINGAPORE—The euro held below parity on Friday as investors eyed a potential slowdown in future rate hikes by the European Central Bank, while the yen was on track for its best week in over two months ahead of a key central bank policy decision. The euro was last 0.05 percent lower at $0.9960, following a…
Oil Falls as China Widens COVID-19 Curbs
October 28, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell on Friday after top crude importer China widened its COVID-19 curbs, though benchmarks were poised for a weekly gain on supply concerns and surprisingly positive economic data. Brent crude futures dropped 50 cents, or 0.5 percent, to $96.46 a barrel by 1047 GMT, having climbed by 1.3 percent in the previous session….
World Shares Lower, Led by 3.7 Percent Drop in Hong Kong
October 28, 2022
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsMedia & Big Techrecessionstocks
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Shares skidded Friday in Europe and Asia, with heavy selling of technology shares pulling Hong Kong’s benchmark 3.7 percent lower. Germany’s DAX dropped 0.9 percent to 13,090.91 and the CAC40 in Paris lost 0.6 percent to 6,205.73. Britain’s FTSE 100 shed 0.6 percent to 7,029.81. The future for the S&P 500 was down 0.8 percent…
Investors Punish Zuckerberg as Costly Metaverse Pitch Falls Flat
Wall Street is losing patience over Meta boss Mark Zuckerberg’s enormous and experimental bets on his metaverse project that helped drive up the company’s overall costs by a fifth in the third quarter. Investors rushed to dump Meta Platforms Inc.’s stock after hours, pushing it down 20 percent and wiping $67 billion off its market…
Twitter Shares to Be Suspended on NYSE as Musk Nears Takeover
Twitter Inc. shares will be suspended from trading on Friday, the New York Stock Exchange’s website showed, as billionaire Elon Musk faces a court-ordered Oct. 28 deadline to close his $44 billion deal to buy the social media company. Musk, the world’s richest person, visited Twitter’s headquarters in San Francisco on Wednesday and hinted he…
How Major US Stock Indexes Fared Thursday Oct. 27, 2022
Stocks ended mixed on Wall Street as weakness in several tech companies offset gains in other parts of the market. Facebook’s parent company, Meta Platforms, lost another one-fourth of its value after reporting a second straight quarter of revenue decline amid falling advertising sales and stiff competition from TikTok. That followed weak reports from Google’s…
US Stock Indexes End Mixed as Facebook Parent Company Slumps
Wall Street delivered another mixed finish for stocks Thursday, as disappointing quarterly results from several big tech companies offset gains elsewhere in the market. The S&P 500 fell 0.6 percent, with about 44 percent of stocks within the benchmark index losing ground. The tech-heavy Nasdaq fell 1.6 percent, while the Dow Jones Industrial Average rose…
Wall Street Opens Higher as GDP Data Keeps Recession Worries at Bay
Wall Street’s main indexes opened higher on Thursday after data showed U.S. economic growth rebounded in the third quarter, keeping at bay worries about an imminent recession fueled by aggressive monetary policy tightening. The Dow Jones Industrial Average rose 223.03 points, or 0.70 percent, at the open to 32,062.14. The S&P 500 opened higher by…
Dollar Rebounds After Recent Sell-Off as Traders Await ECB
LONDON/SINGAPORE—The dollar rallied on Thursday, after earlier falling to a one-month low in choppy trading ahead of an expected rate hike from the European Central Bank (ECB). The greenback has slid in recent days as investors have cheered signs that the U.S. Federal Reserve is considering slowing down its aggressive rate hikes in December. Yet…
Oil Rises on Strong Crude Demand, Despite China Fears
October 27, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rose on Thursday, extending a rally of nearly 3 percent in the previous session, as optimism over record U.S. crude exports and signs that recession fears are abating outweighed concern over slack demand in China. Figures on Wednesday showed record U.S. crude exports, a hopeful sign for demand, even as crude stocks rose. The…
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