Tag: stocks

How Major US Stock Indexes Fared Friday Oct. 7 , 2022

Wall Street lost more ground on worries that a still-strong U.S jobs market may actually make a recession more likely. The S&P 500 fell 2.8 percent Friday after the government said employers hired more workers last month than expected. The Dow Jones Industrial Average and the Nasdaq also fell sharply, and Treasury yields rose. Markets…


A Cautious Fed Sets Up ‘Stagflation’ After a ‘Just Right’ Jobs Report, No ‘Soft Landings’

Commentary September jobs printed at 263,000 new jobs, somewhat above the consensus estimate of 250,000 jobs. That’s 52,000 fewer jobs  than were created in August 2022 and 161 fewer jobs than September 2021. July revisions added another 11,000 jobs; August was unrevised. It is generally believed that 200,000–250,000 jobs are required to accommodate population growth. The unemployment rate was…


Wall Street Opens Lower as Jobs Growth Boosts Rate Hike Bets

Wall Street’s main indexes opened lower on Friday as solid job growth and a drop in unemployment rate last month pointed to a tight labor market, giving more room for the Federal Reserve to stick to big-sized interest-rate hikes. The Dow Jones Industrial Average fell 241.7 points, or 0.81 percent, at the open to 29,685.27….


Dollar Retreats for Now, as Investors Await US Jobs Data

LONDON—The dollar retreated on Friday, ahead of a key employment report later that could offer a litmus test of the strength of the U.S. economic recovery, but with the Federal Reserve’s commitment to fighting inflation, strategists believe any weakness won’t last. The euro and the pound pared overnight losses and rose for the first time…


Oil Heads for Weekly Gain After OPEC+ Cut Despite Economy Headwinds

LONDON—Oil rose about 1 percent on Friday and was headed for a second consecutive weekly gain supported by OPEC+’s decision to make its largest supply cut since 2020 despite concern about recession and rising interest rates. The cut from the Organization of Petroleum Exporting Countries and allies including Russia, known as OPEC+, comes ahead of…


Global Stocks Mixed Ahead of US Employment Update

BEIJING—Global stock markets were mixed Friday ahead of U.S. employment data investors hope will show the economy is weakening and persuade the Federal Reserve to ease off plans for more interest rate hikes. London and Frankfurt opened higher. Tokyo and Hong Kong declined. Oil prices rose. The future for Wall Street’s S&P 500 index was…


How Major US Stock Indexes Fared Thursday Oct. 6, 2022

Stocks closed lower again on Wall Street but still managed to hold on to sizable gains for the week. The S&P 500 fell 1 percent Thursday. The Dow Jones Industrial Average lost a bit more than 1 percent and the Nasdaq gave back 0.7 percent. Bond yields moved higher. Investors were reviewing the latest data…


Wall Street Opens Lower on Fears of Aggressive Rate Hikes

Wall Street’s main indexes opened lower on Thursday amid worries of inflation and the Federal Reserve’s aggressive tightening cycle, while investors assessed data showing an increase in weekly jobless claims. The Dow Jones Industrial Average fell 67.7 points, or 0.22 percent, at the open to 30206.13. The S&P 500 fell 11.3 points, or 0.30 percent,…


Dollar Wavers With ECB Minutes and Friday’s US Jobs Data in Focus

SYDNEY/LONDON—The dollar wobbled lower on Thursday, resuming its slide from early in the week, as investors looked ahead to U.S. labor and inflation data for any sign of softness that could signal an eventual slowdown in U.S. rate hikes. After surging on Wednesday, the greenback struggled to hold its gains, and the euro climbed around…


Oil Near Three-Week High on Cuts to OPEC+ Output Targets

LONDON—Oil prices held near three-week highs on Thursday after OPEC+ agreed to tighten global crude supply with a deal to cut production targets by 2 million barrel per day (bpd), the largest reduction since 2020. Brent crude futures edged down 16 cents, or 0.2 percent, to $93.21 per barrel by 1020 GMT after settling 1.7…