Oil futures recouped some losses on Wednesday, recovering from a 2 percent slide in the previous session, supported by supply concerns stemming from last week’s OPEC+ cut to its production target, though a stronger dollar weighed on sentiment. Brent crude futures were up 62 cents, or 0.7 percent, at $94.91 a barrel by 1120 GMT…
Oil Gains on Tight Supply, but Dollar Weighs
October 12, 2022
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Global Shares Mixed, British Pound Weakens Against Dollar
October 12, 2022
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TOKYO—Global shares were mixed Wednesday as traders braced for updates on inflation, retail sales, and corporate earnings. The British pound weakened against the U.S. dollar after the governor of the Bank of England, Andrew Bailey, confirmed the bank will not extend beyond Friday an emergency debt-buying plan introduced last month to stabilize financial markets. The…
Wall Street Ends Mostly Lower After Another Volatile Day
Another volatile run on Wall Street left stocks lower Tuesday, extending the market’s recent losses as traders brace for updates on inflation and corporate earnings. The S&P 500 fell 0.7 percent, marking its fifth straight loss. The benchmark index had been down as much as 1.2 percent in the early going after a dour forecast…
How Major US Stock Indexes Fared Tuesday Oct. 11, 2022
Stocks ended mostly lower after an afternoon hiccup on Wall Street as trading remains unsettled ahead of key reports on inflation and corporate earnings. The S&P 500 fell 0.7 percent after wavering down, up, then back down again. The Nasdaq fell 1.1 percent and the Dow ended just barely in the green. The S&P 500…
White House, Pentagon Officials Traded Chinese Stocks While Mulling Blacklist: Report
October 11, 2022
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ChinaChina Business & EconomycorruptionDODeconomyFinance & Business TiesInternational RelationsmilitaryNational SecurityPentagonSpecial TopicsstocksThreat from Communist ChinaUSUS NewsUS-China relationsWhite House
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High-ranking Pentagon and White House officials traded in Chinese stocks even as their offices were tasked with considering the companies for blacklisting, according to a new report. More than 2,600 government employees owned or traded stocks whose prices would rise or fall depending on their actions, according to a new investigative report by The Wall…
Wall Street Opens Lower on Earnings Anxiety
U.S. stock indexes opened lower on Tuesday as investors awaited the earnings season to assess the impact of rising interest rates and inflation on corporate profit, while a rise in shares of drugmaker Amgen limited declines on the Dow. The Dow Jones Industrial Average fell 117.68 points, or 0.40 percent, at the open to 29,085.20….
Dollar Edges Higher, Yen Slips Toward Level That Prompted Intervention
LONDON—The U.S. dollar edged back toward September’s multi-year highs on Tuesday as worries about rising interest rates and geopolitical tensions unsettled investors, while the yen hovered near the level that prompted last month’s intervention. Strong U.S. labour market data and an expectation that Thursday’s inflation figures will remain stubbornly high have all but dashed bets…
Oil Falls More Than 2 Percent on Recession and China COVID-19 Fears
October 11, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil slid more than 2 percent on Tuesday, extending losses of nearly 2 percent in the previous session, as recession fears and a flare-up in COVID-19 cases in China raised concern over global demand. World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk of…
Global Shares Fall on Tech Sector Losses, Recession Fears
October 11, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Asian and European shares were mostly lower Tuesday as losses in the technology sector weighed on global benchmarks. France’s CAC 40 dipped 0.6 percent to 5,807.12. Germany’s DAX lost 0.7 percent to 12,183.60. Britain’s FTSE 100 dropped 1.2 percent to 6,878.65. The future for the Dow industrials was down 0.7 percent at 29,059.00. The contract…
China Tech Shares Sink as US Export Curbs Raise Chip Sector Hurdles
SHANGHAI, Oct 10—Shares in Chinese tech giants Alibaba Group and Tencent as well as in chipmakers slumped on Monday, as investors were spooked by new U.S. export control measures aimed at slowing Beijing’s technological and military advances. The Biden administration published a sweeping set of export controls on Friday, including a measure to cut China…
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