ZURICH—The Swiss National Bank posted an annual loss of 132 billion Swiss francs ($142.67 billion) in 2022, it said on Monday, the biggest loss in its 115-year history. The central bank plunged into the red as falling stock and fixed-income markets hit the value of its share and bond portfolio, while the appreciation of the…
Wall Street Opens Higher, Adding to Gains Made Last Week
NEW YORK—Stocks are opening higher on Wall Street, extending gains from last week when the market posted its first weekly gain in five weeks. Energy stocks were among the biggest winners as crude oil prices rose about 3 percent. Technology stocks were also higher. Macy’s sank after tempering its sales forecast for its current quarter…
Dollar Hovers Near 7-Month Lows After Jobs Data
LONDON—The U.S. dollar on Monday neared its lowest point in seven months against other major currencies after data suggested the Federal Reserve could slow the pace of its rate hikes, while China reopening its borders boosted riskier currencies. China’s offshore yuan neared its highest in five months against the U.S. dollar, while the Australian and…
Oil Jumps 3 Percent on Demand Optimism as China Borders Reopen
January 9, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil extended gains on Monday, rising about 3 percent after China’s move to reopen its borders boosted the outlook for fuel demand and overshadowed global recession concerns. The rally was part of a wider boost for risk sentiment supported by both the reopening of the world’s biggest crude importer and hopes for less-aggressive increases to…
World Shares Up, Extending Wall Street Gains as US Wages Slow
January 9, 2023
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BANGKOK—World shares were mostly higher Monday following last week’s rally on Wall Street, where investors bet that slow U.S. wage gains may augur a cooling of the inflation that has led the Federal Reserve to hike interest rates. In Europe, Germany’s DAX gained 0.3 percent to 14,647.16 and the CAC 40 in Paris edged less…
Wall Street Opens Higher as December Jobs Report Eases Rate Worries
Wall Street’s main indexes opened sharply higher on Friday, as cooling wages and a moderation in U.S. jobs growth in December calmed worries over the Federal Reserve’s rate-hike trajectory. The Dow Jones Industrial Average rose 125.22 points, or 0.38 percent, at the open to 33,055.30. The S&P 500 opened higher by 15.27 points, or 0.40…
Dollar Hits 4-Week Peak on Resilient US Jobs Market
LONDON—The dollar rose to an almost one-month high on Friday, after U.S. economic data highlighted a still-tight labour market that could mean the Federal Reserve keeps hiking interest rates aggressively. The number of Americans filing new claims for jobless benefits dropped to a three-month low last week while layoffs fell 43 percent in December, data…
Oil Prices Firm on Optimism Over China’s Reopening
January 6, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices edged higher on Friday on hopes of a Chinese demand boost, but the broader global economic outlook kept crude benchmarks on course for a weekly decline. Brent crude futures rose 56 cents, or 0.71 percent, to $79.25 a barrel by 1009 GMT. U.S. West Texas Intermediate crude futures were up 60 cents, or…
Global Stocks Tepid Before US Jobs Test; Dollar Stands Tall
January 6, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON, TOKYO—Global equities were set to end the first week of 2023 on a tepid note and the dollar stood tall as fears of higher U.S. interest rates hit market sentiment. The MSCI World equity index traded steadily on Friday, on course for its fifth consecutive weekly drop despite a brief rally earlier in the…
Walgreens Sales Drop Amid Falling Demand for COVID-19 Vaccines, Testing Kits
Drugstore chain Walgreens Boots Alliance saw its sales drop 1.5 percent in the most recent quarter amid a decline in demand for COVID-19 vaccines and testing kits. In its fiscal year 2023 first quarter results published on Jan. 5, the company—one of the largest U.S. pharmacies—said it administered 8.4 million COVID-19 vaccinations in the quarter, down…
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