The year 2022 was one of surprises: Russia’s invasion of Ukraine, persistent inflation fueled by energy costs, the collapse of FTX and crypto markets, the revelations of the so-called Twitter Files, and one of the worst equity markets in recent history, to name but a few. The year 2023 is poised to present some equally…
12 Events to Watch for in 2023
January 4, 2023
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Wall Street Opens Higher With Focus on Fed Minutes
Wall Street’s main indexes opened higher on Wednesday on hopes of an economic recovery in China, while focus was also on minutes from the Federal Reserve’s December policy meeting for clues on the outlook for interest rate hikes. The Dow Jones Industrial Average rose 28.77 points, or 0.09 percent, at the open to 33,165.14. The…
Dollar Falls as Europe Inflation Cools and China Lifts the Aussie
LONDON—The dollar fell broadly on Wednesday, losing out to commodities currencies like the Australian dollar and against the euro, which got a lift from a raft of data that suggested European inflation may finally have peaked. The dollar was already under pressure from investors who have grown more optimistic over the prospect that China’s relaxation…
Oil Falls Again as Concerns Grow Over Global Economy, China COVID-19 Cases
January 4, 2023
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LONDON—Oil fell sharply on Wednesday after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy and China’s rising COVID-19 cases. Brent futures fell $1.88 to $80.22 a barrel, a 2.3 percent loss, by 1032 GMT. U.S. crude dropped $1.68, or 2.2 percent, to $75.25…
Stocks Creep Higher as Inflation Data Offers Hope Ahead of Fed
January 4, 2023
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SINGAPORE/LONDON—European and Asian shares rose on Wednesday thanks to positive news about inflation and China’s strict anti-COVID measures, while the dollar backpedaled as investors await minutes from the Federal Reserve’s most recent meeting. The pan-European STOXX 600 was up 0.9 percent by 0835 GMT as a lower inflation reading from France boosted sentiment, adding to…
Tesla Shares Tumble After Company Misses Delivery Target
DETROIT—Shares of Tesla tumbled more than 12 percent Tuesday on the first full day of trading since the company announced 2022 delivery numbers that fell short of targets. The electric vehicle and solar panel maker’s stock closed at $108.10, and it’s down just under 70 percent since the start of last year. The stock hit…
Wall Street Slips in 2023 Open After Ending Dismal Year
Stocks gave up an early gain and ended lower Tuesday, a lackluster first trading day of 2023 for Wall Street just days after it closed the books on its worst year since 2008. The S&P 500 shed a 1 percent gain and finished 0.4 percent lower. The Dow Jones Industrial Average slipped less than 0.1…
Wall Street Opens Higher on First Trading Day of 2023
Wall Street’s main indexes opened higher on the first trading day of the year, with a slew of economic data on tap this week as well as the Federal Reserve’s meeting minutes that would provide more clues on the path of future interest rate hikes. The Dow Jones Industrial Average rose 1.65 points, or 0.15…
Dollar Jumps to 2-Week High, Euro Slides as German Inflation Eases
LONDON—The euro was on track for its biggest one-day drop since September as German inflation eased in December, while the dollar rose to a two-week high with focus turning to the Federal Reserve’s minutes from the December meeting. The euro was last down around 1.3 percent against the dollar at $1.0526, its lowest level since…
Oil Falls as Outlook for China, Global Economy Weigh
January 3, 2023
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LONDON—Oil prices edged lower on Tuesday in volatile trade as weak demand data from China and a gloomy economic outlook weighed. Brent crude futures fell 46 cents, or 0.54 percent, to $85.45 a barrel by 1017 GMT. U.S. West Texas Intermediate crude was down 38 cents, or 0.47 percent, at $79.88. Both contracts rose by…
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