Stocks closed modestly higher as Wall Street recovered some of this week’s steep losses ahead of a highly anticipated speech by the Federal Reserve chair later this week. The S&P 500 ended 0.3 percent higher Wednesday. The Dow Jones Industrial Average and Nasdaq also inched higher. Trading has been quiet the last two days ahead…
Wall Street Ticks Lower as Investors Await Fed Rate Hike Clues
Wall Street’s main indexes slipped on Wednesday as recent economic data fueled fears of a slowdown ahead of the U.S. Federal Reserve’s annual conference this week. The Dow Jones Industrial Average fell 10.58 points, or 0.03 percent, at the open to 32,899.01. The S&P 500 opened lower by 2.18 points, or 0.05 percent, at 4,126.55,…
Euro Slips Towards Two-Decade Low as High Gas Prices Adds to Growth Fears
LONDON—The euro was within a whisker of a two-decade low on Wednesday amid growing recession fears fuelled by a possible energy supply crunch, while the U.S. dollar recouped some data-inspired losses after Tuesday’s softer-than-forecast data. Disappointing U.S. services and manufacturing surveys released on Tuesday and a plunge in new home sales saw the dollar take…
Brent Oil Climbs Above $100 a Barrel Amid Talk About OPEC Cuts
August 24, 2022
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LONDON—Benchmark Brent oil climbed above $100 a barrel on Wednesday after Saudi Arabia suggested this week that OPEC could consider cutting output in response to poor liquidity in the crude futures market and fears about a global economic downturn. Brent for October settlement reached a three-week high, trading up $1.30, or 1.3 percent, at $101.52…
Global Shares Mixed After Modest Wall Street Fall
August 24, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares were mixed Wednesday as a wait-and-see mood set in following another— though more modest—day of sell-offs on Wall Street. Worries about inflation are weighing on investors’ minds, including in Asia. Inflation data for Singapore released earlier in the week showed inflation was still going strong, with core inflation headed higher to 4.8 percent…
Stocks Dip as Steadying Yields Calm Wall Street After Fall
NEW YORK—Stocks drifted to modest losses in a quiet Tuesday on Wall Street, as steadying Treasury yields helped calm the market following its worst tumble in months. The S&P 500 dipped 9.26 points, or 0.2 percent, to 4,128.73 after flipping between small gains and losses through the day. The edge lower follows up on Monday’s…
How Major US Stock Indexes Fared Tuesday Aug. 23, 2022
Stocks drifted to a mixed close on Wall Street, as steadying Treasury yields help calm the market following its worst tumble in months. The S&P 500 slipped 0.2 percent Tuesday. It’s coming off Monday’s 2.1 percent drop, which came on the heels of its first losing week in the last five. Volatility has returned to…
Wall Street Slips Ahead of Business Activity Data
Wall Street’s main indexes opened slightly lower on Tuesday after a steep selloff in the previous session on concerns about aggressive signals from the U.S. Federal Reserve on rate hikes, with manufacturing and services data on tap. The Dow Jones Industrial Average fell 30.09 points, or 0.09 percent, at the open to 33,033.52. The S&P…
Euro Slumps to Two-Decade Lows as Energy Crisis Bites
August 23, 2022
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LONDON—The euro hit a fresh two-decade low on Tuesday, dealt a fresh blow by renewed concern that an energy shock will keep inflation elevated and makes a recession in Europe all but certain. China’s yuan weakened to a two-year low, while sterling briefly touched its weakest since March 2020. Business activity data from Europe was…
Oil Climbs as Tight Supply Moves Back Into Focus
August 23, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rose $1 a barrel on Tuesday as tight supply moved back into focus as a result of Saudi Arabia floating the idea of OPEC+ output cuts to support prices and the prospect of a drop in U.S. crude inventories. The Saudi energy minister said OPEC+ had the means to deal with challenges including cutting…
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