TOKYO—Global shares were mixed, while Hong Kong’s benchmark plunged 6.4 percent on Monday as dismay over a lack of fresh policy initiatives from a Chinese Communist Party congress overshadowed a report that the No. 2 economy grew at a faster pace in the last quarter. The dollar rose to nearly 150 yen, a day after…
Global Shares Mixed After China Economy Slows, Hong Kong Down 6.4 Percent
October 24, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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Exxon Shares Surge to Record High on Strong Earnings Outlook
HOUSTON—Exxon Mobil Corp. shares passed their all-time high on Friday as oil prices resumed their climb and analysts raised their long-term views of top U.S. oil producer’s cash flow and earnings outlook. Exxon is leading a parade of record profits among oil majors this year after doubling down on oil during the pandemic, when energy…
Strong US Dollar Will Rev up Global Mergers and Acquisitions
Commentary Relative strength of the U.S. dollar is expected to continue, propelled by the Federal Reserve’s determination to combat inflation by tightening monetary policy. The dollar’s strength has been a headache for U.S. multinational corporations, whose revenues earned in other countries are worth less in dollar terms after currency translation. U.S. companies report earnings in…
How Major US Stock Indexes Fared Friday Oct. 21, 2022
Stocks closed higher on Wall Street Friday, notching sizable weekly gains for major indexes. The benchmark S&P 500 rose 2.4 percent Friday, while the Dow Jones Industrial Average and the Nasdaq also gained ground. Social media companies were broadly lower after Snapchat’s parent company issued a weak outlook and the Washington Post reported that Elon…
Stocks End Higher on Wall Street, Notching Weekly Gains
Wall Street capped a volatile run for stocks with a broad rally Friday, contributing to sizable weekly gains for major indexes. The S&P 500 rose 2.4 percent and notched its biggest weekly gain since June. The Dow Jones Industrial Average rose 2.5 percent and the Nasdaq composite ended 2.3 percent higher. More than 90 percent of the stocks…
Wall Street Opens Lower as Snap’s Ad Warning Spurs Social Media Selloff
Wall Street’s main indexes opened lower on Friday as Snap Inc.’s forecast of no revenue growth in the lucrative holiday quarter sparked a selloff in social media companies, with galloping U.S. Treasury yields adding to the losses. Meanwhile, a report on Federal Reserve officials to likely debate how to signal plans to approve a smaller…
Yen Slides Further to 151 per Dollar, Pound Falls on UK Turmoil
LONDON—The yen was on track for its 10th straight weekly decline against the relentlessly strong dollar on Friday, while sterling fell as political turmoil once again gripped Britain. The dollar gained across the board, also pushing the Swiss franc to its lowest level since May 2019. Investor bets on the U.S. Federal Reserve ratcheting up…
Oil Steadies as Rate Hike Talk Offsets China Demand Hopes
October 21, 2022
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LONDON—Oil steadied on Friday as investors weighed the impact of sharp interest rate rises on energy consumption, offsetting hopes of higher Chinese demand and output cuts by OPEC and its allies. To fight inflation, the U.S. Federal Reserve is trying to slow the economy and will keep raising its short-term rate target, Federal Reserve Bank…
Shares Slide, Dollar Strong as US Yields March Higher
October 21, 2022
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SINGAPORE/LONDON—U.S. Treasury yields held near multiyear highs on Friday, with markets seeing no let-up in tightening from the Federal Reserve, causing shares to slip and the dollar to stay strong, particularly against the embattled Japanese yen. The benchmark U.S. 10-year yield edged up as high as 4.276 percent, its highest level since June 2008, having…
Stocks Give Up an Early Gain and Close Lower on Wall Street
Stocks on Wall Street lost ground again Thursday, though the major indexes remained on pace for a weekly gain after a strong two-day rally earlier this week. The S&P 500 fell 0.8 percent. Nearly three-fourths of the stocks in the benchmark index closed in the red, with retailers, banks and industrial companies among the biggest…
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