Stocks ended broadly lower on Wall Street, leaving most major indexes in the red for the week, as more concerns emerged about inflation. Markets fell after a report showed U.S. consumers raising their expectations for inflation, yet another signal that the Federal Reserve will have to continue aggressively raising interest rates. The strategy raises the…
Stocks Fall Broadly on Wall Street as Inflation Worries Grow
More worries about inflation helped spur a broad slide for stocks Friday that left most of the major indexes on Wall Street in the red for the week and wiped out much of the market’s gains from a strong rally a day earlier. A report showing U.S. consumers raised their expectations for future inflation hurt…
Texas Teachers’ Retirement System Moves to Distance Pensions From Chinese Stocks
October 14, 2022
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Business & MarketsChinaChina Business & EconomyFinance & Business TiesInternational RelationsInvestmentpensionsSpecial TopicsstocksteachersTexasUSUS NewsUS-China relations
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The largest public retirement system in Texas is moving to remove Chinese companies from the list of stocks it invests in as part of its pension fund for teachers. The Teacher Retirement System of Texas (TRS) gained approval last month to move forward with a new benchmark that proportionally mixes two emerging markets indexes, including…
Wall Street Opens Higher After Putin Comments, Mixed Bank Earnings
Wall Street’s main indexes opened higher on Friday after Russian President Vladimir Putin eased geopolitical worries, saying there were no plans for a further military mobilization in Russia, while major American banks reported mixed results. The Dow Jones Industrial Average rose 153.5 points, or 0.51 percent, at the open to 30192.21. The S&P 500 rose…
Dollar Edges Higher, Pushing Yen to New 32-year Low
LONDON/SINGAPORE—The dollar edged higher on Friday after dropping the previous day despite U.S. inflation accelerating, helping it hit a 32-year peak against Japan’s yen. Sterling slipped after a sharp rally on Thursday, as reports said British Prime Minister Liz Truss was preparing to sack her finance minister and carry out a major U-turn on the…
Oil Prices Dip on Recession Worries, but Supply Cuts Support
October 14, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices dipped in a choppy trading session on Friday as global recession fears and weak oil demand, especially in China, outweighed support from a large cut to the OPEC+ supply target. Brent crude futures were down 76 cents, or 0.8 percent, at $93.81 a barrel at 1044 GMT while U.S. West Texas Intermediate (WTI)…
World Stocks Bounce, Fiscal Hopes Boost UK Bonds
October 14, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SYDNEY—World stocks rose on Friday, recovering from the previous session’s 2–1/2 year lows on an overnight rally in U.S. stocks, while British government bonds rose on speculation of a U-turn on the country’s fiscal plans. Much-anticipated U.S. data on Thursday showed core inflation—which excludes food and fuel prices— came in above forecasts at 6.6 percent,…
Stocks Mount Biggest Comeback in Years; S&P 500 Jumps 2.6 Percent
NEW YORK—Wall Street staged its biggest comeback in years Thursday, as stocks roared back from steep morning losses caused by a worse-than-expected report on inflation. The S&P 500 jumped to a gain of 2.6 percent, a stunning reversal after earlier being down as much as 2.4 percent and touching its lowest level in nearly two…
How Major US Stock Indexes Fared Thursday Oct. 13, 2022
Wall Street staged its biggest comeback in years as stocks roared back from steep morning losses caused by a worse-than-expected report on inflation. The S&P 500 jumped 2.6 percent Thursday, a stunning reversal after earlier being down as much as 2.4 percent and touching its lowest level in nearly two years. The Dow and Nasdaq…
Volatile Sterling Surges on Reports of Potential UK Fiscal Plan U-turn
LONDON—Sterling jumped on Thursday on a media report that the British government is discussing making changes to fiscal plans announced last month, while investors awaited the impending end of the Bank of England’s support for the bond market. The yen languished near a fresh 24-year low, while markets were also on edge ahead of U.S….
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