LONDON/SINGAPORE—World stocks were steady on the last trading day of the year as markets digested U.S. data and the dismantling of China’s zero-COVID policy, but the global index was heading for a 20 percent drop over a year marred by high inflation and war in Europe. The dollar, a beneficiary of rising U.S. interest rates,…
World Stocks Eye Glum 2022 While Dollar Triumphs
December 30, 2022
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Stocks Rally to Higher Close as Job Market Remains Strong
A relatively light day of trading on Wall Street ended Thursday with a broad rally for stocks as investors welcomed new jobless benefits data that shows the labor market remains strong. The S&P 500 rose 1.7 percent, with roughly 95 percent of stocks within the benchmark index closing higher. The gains more than made up…
Southwest Airlines Stock Takes a Hit After Wave of Cancellations
Shares of Southwest (LUV) sank more than 10 percent this week after the airline canceled thousands of flights during the busy Christmas travel week, prompting scrutiny from federal officials. Despite a more than 3 percent rebound in early Thursday trade, some investors may avoid the company for some time due to its now-tarnished reputation. Southwest…
Wall Street Opens Higher as Jobless Claims Data Calm Rate Hike Jitters
Wall Street’s main indexes opened higher on Thursday as data pointing to signs of a cooling labor market eased worries over future interest rate hikes by the U.S. Federal Reserve. The Dow Jones Industrial Average rose 145.72 points, or 0.44 percent, at the open to 33,021.43. The S&P 500 opened higher by 22.23 points, or…
Dollar Slips as Traders Weigh China Outlook; Sterling Gains
SINGAPORE/LONDON—The dollar slipped on Thursday after rising in the previous session, with investors on edge at the end of the year as initial optimism over China’s reopening fizzled. The yen was last 0.56 percent higher at 133.72 against the dollar. That followed a 0.73 percent fall on Wednesday which saw the yen hit a one-week…
Oil Falls as China COVID-19 Spike Dampens Demand Outlook
December 29, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell by over 2 percent on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world’s largest crude oil importer. Brent futures for February fell $1.67, or 2.01 percent, to $81.59 a barrel by 0953 GMT. The more active March contract fell 1.79 percent to…
World Shares Extend Losses After Wall Street Decline
December 29, 2022
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BANGKOK—Shares slipped in Europe and Asia on Thursday after benchmarks fell more than 1 percent on Wall Street in the middle of a mostly quiet and holiday-shortened week. U.S. futures were mixed and oil prices declined more than $1 a barrel. Investors are watching to see how China’s relaxation of its stringent COVID-19 policies, and…
Stocks Close Lower on Wall Street; Southwest Losses Mount
A broad slide for stocks added to Wall Street’s recent losses Wednesday, as investors count down to the end of the worst year for the S&P 500 since 2008. The S&P 500 fell 1.2 percent, with technology, energy and industrial stocks among the biggest weights on the benchmark index. The tech-heavy Nasdaq composite slid 1.4…
Wall Street Opens Subdued as Investors Digest China Reopening
Wall Street’s main indexes opened muted on Wednesday as optimism around unwinding of pandemic restrictions by China was offset by worries about rising COVID-19 cases in the world’s second-largest economy. The Dow Jones Industrial Average rose 23.20 points, or 0.07 percent, at the open to 33,264.76. The S&P 500 opened higher by 0.31 points, or…
Inflation, Recession, and Earnings Among Factors to Drive US Stocks in 2023
December 28, 2022
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Business & MarketsCompanieseconomic policieseconomyenergyinflationMarketsMedia & Big TechrecessionstocksUSUS News
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NEW YORK—U.S. stock investors could not be more eager to turn the page on 2022, a brutal year dominated by market-punishing Federal Reserve rate hikes designed to tamp down the steepest inflation in 40 years. The S&P 500 is down nearly 20 percent year-to-date with only a few trading days left in 2022, on pace…
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