Stocks gave up an early gain and closed lower on Wall Street as markets continue an unsteady search for direction. Several companies made big moves, both higher and lower, as more of them reported their latest quarterly results. The S&P 500 fell 0.8 percent Thursday. The benchmark index was still holding on to a gain…
Wall Street Opens Lower as UK’s Truss Resigns as PM
Wall Street’s main indexes opened lower on Thursday after the resignation of Liz Truss as prime minister of the UK added a layer of uncertainty to markets struggling to hold on to gains from a set of positive earnings forecasts from U.S. companies. The Dow Jones Industrial Average fell 11.89 points, or 0.04 percent, at…
Oil Rises on Tight Supplies
October 20, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose by more than $1 on Thursday in response to tighter supplies. Brent crude futures rose $1.33, or 1.4 percent, to $93.74 a barrel at 1020 GMT. U.S. West Texas Intermediate crude for November delivery, which expires on Thursday, rose $1.43, or 1.7 percent, to $86.98 per barrel. The WTI contract for December…
Yen Softens Past 150 per Dollar for First Time Since 1990
LONDON—The dollar hit the symbolic level of 150 yen for the first time since 1990 on Thursday as the greenback was supported by Treasury yields trading at multi-year highs, keeping markets on high alert for intervention from Japanese authorities. Moves among other major currencies were muted by recent standards. The euro up 0.5 percent at…
Stocks Sag, Bond Yields Firm as Yen Sinks Further
October 20, 2022
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Stocks sagged and bond yields firmed on Thursday as looming central bank rate meetings cast a shadow over largely resilient corporate earnings so far which have failed to dispel downbeat investor sentiment. The strong dollar continued to loom over currency markets, with the yen sinking to a 32-year low against the greenback. Investors braced for…
Stocks Lose Ground as More Earnings Roll In; Yields Rise
A broad slide on Wall Street reversed two days of gains for stocks Wednesday, as Treasury yields climbed to multiyear highs, tempting traders with higher returns on relatively low-risk investments. The pullback came as investors reviewed a mix of quarterly reports from several companies. Netflix and United Airlines rose sharply after releasing their quarterly results,…
How Major US Stock Indexes Fared Wednesday Oct. 19, 2022
Stocks closed lower on Wall Street, reversing course after two days of gains. Major indexes are still higher for the week despite the declines, which pulled every sector lower except energy. Treasury yields continue to climb to multiyear highs, tempting investors with higher returns on relatively low-risk investments. The yield on the two-year Treasury rose…
Consumer Giants Are Winners as Shoppers Swallow Price Hikes
ZURICH/LONDON—Nestle and Procter & Gamble, the world’s two biggest consumer firms, reported better-than-expected sales on Wednesday, as shoppers continued to pay more for goods like Nescafe coffee and Gillette razors despite record inflation. Nestle, which also makes Cheerios cereal and KitKat chocolate bars, reported better-than-expected sales results, successfully passing higher costs on to shoppers as…
Wall Street Drops at Open as Treasury Yields Soar
Wall Street’s main indexes opened lower on Wednesday as Treasury yields surged to 14-year highs amid rising interest rates, denting gains powered by streaming giant Netflix after it reversed customer losses. The Dow Jones Industrial Average fell 84.8 points, or 0.28 percent, at the open to 30439.04. The S&P 500 fell 16.9 points, or 0.45…
Sterling Slips Amid Red-Hot Inflation, Dollar Holds at 32-year Peak Versus Yen
LONDON/TOKYO—Sterling weakened on Wednesday after hotter-than-expected consumer price inflation and fears of a deeper recession bolstered expectations of a less aggressive rate hike by the Bank of England in November. The U.S. dollar held at a 32-year peak against the yen and rose from a two-week trough against a basket of major peers, underpinned by…
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