LONDON—Oil prices rose on Friday after a U.S. debt ceiling deal averted a default in the world’s biggest oil consumer, while attention turned to a meeting of OPEC ministers and their allies at the weekend. Brent crude futures rose 77 cents, or 1 percent to $75.05 a barrel by 0806 GMT, while U.S. West Texas…
Stocks Gain, Dollar Stumbles as US Averts Default, Fed Skip Bets Rise
June 2, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SINGAPORE—Global stocks and commodities rose on Friday while the dollar headed for its biggest weekly drop since January, as sentiment was buoyed by signs the Fed will skip a rate hike at its next meeting and the approval of U.S. debt ceiling legislation. Markets are now focused on U.S. jobs data due 0830 EST (1230…
Stock Market Today: Wall Street Rises With Hopes for Pause to Rate Hikes
NEW YORK—Wall Street rose Thursday with hopes that the Federal Reserve may soon take it easier on its hikes to interest rates. The S&P 500 rallied 1 percent after a suite of reports painted a picture of a split U.S. economy. The job market remains solid, but manufacturing is weakening and retailers are seeing shoppers…
How Major US Stock Indexes Fared June 1
Wall Street closed higher on hopes that the Federal Reserve may soon take it easier on its hikes to interest rates, with the S&P 500 gaining 1 percent Thursday. Several reports painted a picture of a split U.S. economy. The job market remains remarkably solid, but manufacturing is weakening and shoppers of all kinds are…
State Pension Funds Defy Anti-ESG Laws When Voting Their Shares, Watchdog Charges
June 1, 2023
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Anti-ESGBusiness & MarketsCompaniesESGFlorida CFO Jimmy PatronisGov. Ron DeSantisInvestmentMarketspersonal financePoliticsstate pension fundsstocksUS
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Conservative states working to keep state funds out of the environmental, social, and corporate governance (ESG) movement are finding that, when it comes to state fund managers, you can lead them to water but can’t always make them drink. Despite recent laws in states like Florida and Ohio banning the use of municipal dollars for…
Wall Street Opens Higher on Debt Deal Cheer; Salesforce Crimps Gains
Wall Street’s main indexes eked out gains at the open on Thursday on optimism sparked by passage of a bill by lawmakers to suspend the nation’s debt ceiling, while dismal earnings from Salesforce kept gains in check. The Dow Jones Industrial Average rose 21.58 points, or 0.07 percent, at the open to 32,929.85. The S&P…
Euro Steadies Near 2-month Low as Inflation Drops in Relief for ECB
LONDON—The euro steadied on Thursday near a two-month low after data showed eurozone inflation eased more than expected last month, backing arguments for only cautious further rate hikes by the European Central Bank (ECB). Inflation in the 20 nations sharing the euro eased to 6.1 percent in May from 7.0 percent in April, below expectations…
Oil Steadies on a Potential Pause in US Interest Rate Hikes and Passing Debt Limit Deal
LONDON—Oil steadied on Thursday on a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill. U.S. Federal Reserve officials on Wednesday suggested interest rates could be kept on hold this month and the U.S. House of Representatives passed a bill suspending the government’s debt…
Shares Gain on US Debt Bill Passage, Fed Pause Talk
June 1, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/TOKYO—Global shares rose on Thursday amid receding bets for a U.S. rate hike this month and relief over the passage through the U.S. House of Representatives of a bill to suspend the federal debt ceiling. A divided House passed a bill to suspend the $31.4 trillion debt ceiling—and avert a catastrophic default—with majority support from…
Stock Market Today: Wall Street Slips as Stocks Slump Worldwide
NEW YORK—Wall Street slipped as stocks slumped worldwide Wednesday on worries about the strength of the global economy and inflation. The S&P 500 fell 25.69, or 0.6 percent, to 4,179.83. The Dow Jones Industrial Average dropped 134.51, or 0.4 percent, to 32,908.27, and the Nasdaq composite lost 82.14, or 0.6 percent, to 12,935.29. Stock markets…
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