TOKYO/LONDON—The euro jumped to a more than three-week peak versus the dollar on Monday, as European Central Bank officials argued for further aggressive monetary tightening and the greenback softened against most majors except the under-fire Japanese yen. The European common currency rose around 1.5 percent to $1.0198, its highest since Aug. 17, and well up…
Oil Prices Rise as Supply Uncertainty Mounts
September 12, 2022
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LONDON—Oil prices rose on Monday as Iranian nuclear talks appeared to hit obstacles and an embargo on Russian oil shipments loomed, with tight supply struggling to meet still robust demand. Brent crude futures rose 88 cents, or 1 percent, to $93.72 a barrel by 1100 GMT. U.S. West Texas Intermediate crude was up 69 cents,…
World Shares Advance After Wall Street’s End of Week Rally
September 12, 2022
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Shares climbed Monday in Europe and Asia after last week’s strong close on Wall Street snapped a three-week losing streak. Many Asian markets were closed for holidays. U.S. futures rose while oil prices turned higher. Investors are watching for U.S. inflation figures and Chinese economic data this week. The U.S. Labor Department will release its…
Stocks End Broadly Higher, Breaking a 3-Week Losing Streak
Wall Street added to its recent gains Friday with a broad rally that broke the market’s three-week losing streak. The S&P 500 closed 1.5 percent higher, its third straight increase, and ended with a 3.7 percent gain for the week. That makes it the benchmark index’s best week going back to July. Big gains for technology…
How Major US Stock Indexes Fared Friday Sept. 9, 2022
September 9, 2022
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Stocks closed broadly higher on Wall Street, breaking a three-week losing streak. The benchmark S&P 500 index rose 1.5 percent on Friday, but is still well below where it was in mid-August. Big gains for technology companies pushed the Nasdaq composite even higher. The Dow Jones Industrial Average also climbed, as did small-company stocks. All…
Wall Street Opens Higher on Tech Boost
Wall Street’s main indexes opened higher on Friday, boosted by technology and high-growth stocks, while investors awaited key inflation data next week for clues on the pace of interest rate hikes by the Federal Reserve. The Dow Jones Industrial Average rose 101.70 points, or 0.32 percent, at the open to 31,876.22. The S&P 500 opened…
Dollar Set for Weekly Fall as Euro Bounces on ECB Hike
September 9, 2022
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LONDON—The dollar was on track for its first weekly fall in four on Friday, as a hawkish rate hike from the European Central Bank lifted the euro and investors looked to U.S. inflation data early next week. The dollar lost ground across the board, with the dollar index—which tracks the greenback against six major peers—falling…
Oil Supported by Supply Threats yet Still Set for Weekly Drop on Demand Fears
September 9, 2022
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LONDON—Oil rose on Friday supported by real and threatened cuts to supply, although crude was set for a second weekly decline as aggressive interest rate hikes and China’s COVID-19 curbs weighed on the demand outlook. Russian President Vladimir Putin has threatened to halt oil and gas exports to Europe if price caps are imposed and…
Global Shares Higher on Wall Street Rise, Fed Chair Comments
September 9, 2022
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TOKYO—Global stock benchmarks rose Friday, as comments from the U.S. Federal Reserve chairman assured markets that interest rate increases will likely be within expectations. France’s CAC 40 added 0.7 percent in early trading to 6,168.33, while Germany’s DAX gained 0.9 percent to 13,014.33. Britain’s FTSE 100 rose nearly 1.1 percent to 7,338.96. U.S. shares were…
Markets to Fall Further as Econ Fundamentals Worse Than 2007, Says GMO’s Grantham
Financial markets should brace for further pain, with global economic health at its most precarious level in years, due to stubborn inflation, hawkish central banks, and geopolitical tensions, veteran investor Jeremy Grantham said late Wednesday. “This is a more dangerous looking moment in global economics than even the madness of the housing bubble of 2007,”…
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