Tag: stocks

Oil Rises on Prospect of OPEC+ Supply Cut

August 29, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rose on Monday, extending last week’s gain, as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth. Saudi Arabia, top producer in the Organization of the Petroleum Exporting Countries (OPEC) last week raised the possibility of production cuts. Brent crude was…

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Stocks and Bonds Slump, Dollar Hot as Rate Fever Takes Hold

August 29, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stocks slumped on Monday as the growing risk of more aggressive interest rate hikes in the United States and Europe inflicted fresh pain on bond markets and pushed the dollar to new 20-year highs, just as recession fears mount. Federal Reserve Chair Jerome Powell, speaking at the Jackson Hole symposium on Friday, said the…

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Bitcoin Dips Below $20,000

August 27, 2022
bitcoinBusiness & Marketscryptocurrenciescryptocurrencyeconomic policieseconomyinflationMarketsrecessionstocks
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Bitcoin dipped below $20,000 on Saturday, continuing a drop that has taken it down nearly 60 percent from its year high. Bitcoin, the world’s biggest and best-known cryptocurrency, was last down 1.5 percent at $19,946 on Saturday, down $298 from its previous close. It is down 58.7 percent from the year’s high of $48,234 hit…

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Dow Drops 1,000 After Fed’s Powell Says Rates Will Stay High

August 26, 2022
Business & MarketsDow Joneseconomic policiesinterest ratesjerome powellMarketsstocks
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NEW YORK—The Dow Jones Industrial Average sank more than 1,000 points Friday after the head of the Federal Reserve dashed Wall Street’s hopes that it may soon ease up on high interest rates in its effort to tame inflation. The S&P 500 lost 3.4 percent, its biggest drop since mid-June, after Jerome Powell said the…

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How Major US Stock Indexes Fared Friday Aug. 26, 2022

August 26, 2022
BrightBusiness & MarketsDow Jones industrial averageinvestingMarketspersonal financestocks
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Stocks ended sharply lower after the head of the Federal Reserve dashed Wall Street’s hopes that it may soon ease up on rate hikes in its effort to tame inflation. The S&P 500 lost 3.4 percent Friday, its biggest drop in two months, after Jerome Powell said the Fed will likely need to keep interest…

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APE Stocks: A Clever Way to Raise Funds, but Should You Cash In?

August 26, 2022
amc stockapeBrightinvestingpersonal financestockstocks
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APE, the new preferred share class of the AMC movie theatre chain, began trading on the New York Stock Exchange this week—and it sure is intriguing. In the age of the “meme stock” and Reddit groups manipulating the market, it’s unlikely that this will be the last unorthodox investment scheme we see in the near future….

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Nasdaq, S&P 500 Muted Ahead of Powell’s Speech

August 26, 2022
Business & MarketsCompanieseconomic policieseconomyinflationMarketsNASDAQrecessionstocksUS
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The S&P 500 and the Nasdaq were subdued on Friday in early trading as investors were nervous about hawkish signals from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium amid fears of slowing economic growth. Powell’s speech at 10:00 a.m. ET will be scrutinized for any indication that an economic slowdown might…

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Dollar Dips Ahead of Powell Speech

August 26, 2022
Business & Marketseconomic policieseconomyenergyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar dipped against other major currencies on Friday, ahead of U.S. Federal Reserve Chair Jerome Powell’s widely-anticipated speech at the Jackson Hole symposium. Traders are looking for clues on the U.S. central bank’s tightening plans to combat rampant inflation when Powell speaks at 1400 GMT. The dollar index—which tracks the greenback against six major…

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Brent Anchored Above $100 a Barrel, Heading for Weekly Gain

August 26, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose as much as $1 on Friday on signs of improving fuel demand, though an upcoming speech from the U.S. Federal Reserve chairman capped further gains. Brent crude futures climbed $1.53, or 1.54 percent, to $100.87 a barrel by 1051 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.20 cents, or 1.3…

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World Stocks Steady, Dollar Ticks Up on Powell-Watch

August 26, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SYDNEY—World stocks were flat on Friday and the dollar edged up as traders and investors awaited a speech from Federal Reserve Chair Jerome Powell for clues on the gradient of the U.S. central bank’s rate-hike path. Investors have pared back expectations that the Fed could pivot to a slower pace of rate hikes, as U.S….

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