Stocks rose on Thursday as economic data from around the world fed hopes that the global economy might not face as hard a landing as feared a few months ago, even as interest rates threaten to remain higher for longer than expected. The pan-European STOXX 600 index rose 0.5 percent, while London’s FTSE 100 continued…
Stocks Shrug Off Rate Risks as Data Tempers Recession Worries
February 16, 2023
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Stocks Tick Higher as Hopes on Economy Joust Rate Fears
NEW YORK—Stocks ticked higher on Wall Street Wednesday as hopes for a resilient economy jousted with worries about inflation following a much stronger reading than expected on U.S. retail sales. The S&P 500 rose 0.3 percent after swinging from early losses to gains through the day. The Dow Jones Industrial Averaged edged up by 38…
If You Don’t Sell, Did You Lose Money or Not?
Commentary Last year, the stock market was down big. The exchange-traded fund that mimics the tech stocks on Nasdaq (QQQ) was down 19.8 percent. The bond market also took a dive since the Federal Reserve moved aggressively to raise interest rates. For what it is worth, statistically there is only a 9 percent chance of…
Wall Street Opens Lower as Strong Retail Sales Data Adds to Rate Hike Fears
Wall Street’s main stock indexes opened lower on Wednesday after stronger-than-expected retail sales data underscored a resilient U.S. economy, which could offer more room for the Federal Reserve to raise interest rates. The Dow Jones Industrial Average fell 80.64 points, or 0.24 percent, at the open to 34,008.63. The S&P 500 opened lower by 16.63…
Dollar Climbs After US Inflation Data and Tough Fed Talk
LONDON/SINGAPORE—The dollar rose on Wednesday in the wake of stubbornly high U.S. inflation data and firm words on interest rates from Federal Reserve officials. U.S. consumer price index (CPI) inflation accelerated month-on-month in January, rising 0.5 percent as expected, due in part to higher rental and food costs. Year-on-year, prices rose 6.4 percent. That was…
Oil Drops on US Interest Rate Worries
February 15, 2023
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LONDON—Oil dropped for a second day on Wednesday as expectations of further interest rate hikes sparked concern over fuel demand and the economic outlook. Brent crude futures fell 46 cents, or 0.5 percent, to $85.12 a barrel by 1130 GMT, and U.S. West Texas Intermediate (WTI) crude dropped 60 cents, or 0.8 percent, to $78.46….
Global Stocks Mixed After US Inflation Feeds Rate Hike Fears
February 15, 2023
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BEIJING—Asian stocks fell and European markets opened mixed Wednesday after U.S. inflation edged down less than expected, fueling concern the Federal Reserve might think more interest rate hikes are needed. London, Tokyo, and Shanghai declined. Frankfurt advanced. Oil prices fell by more than $1 per barrel. Wall Street futures were lower after official data Tuesday…
Wall Street Ends Mixed After Swerving on Inflation Report
NEW YORK—Several sharp reversals for stocks left Wall Street mixed on Tuesday after a report showed inflation is continuing to slow, but perhaps not as quickly or as smoothly as hoped. The S&P 500 finished the day virtually where it started, edging down by less than 0.1 percent, after swerving between gains and losses. The…
US Companies Face More Pain as Expected ‘Earnings Recession’ Looms
February 14, 2023
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NEW YORK—U.S. companies’ earnings woes are likely to extend beyond the weak fourth quarter, as a booming labor market weighing on margins looks set to hurt results in the first half of this year. Expectations for U.S. earnings to decline in the first and second quarter come amid weaker-than-expected fourth-quarter results for 2022, which Credit…
Coca-Cola HBC’s Annual Profit Beats, Warns of Price Increases
Coca-Cola HBC AG on Tuesday reported better-than-expected full-year operating profit and said it will increase prices this year to tackle an increase in costs. Most companies have hiked prices in a bid to pass on some of these costs to their consumers. Although a cost of living crisis has seen a shift in consumer spending,…
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