Worries about inflation weighed on Wall Street Friday, leaving major indexes mixed after a report showed wages for U.S. workers are accelerating, which is good news for them but could feed into even higher inflation for the nation. The S&P 500 ended 0.1 percent lower after having been down as much as 1.2 percent earlier in…
Federal Reserve Unveils Climate Risk Proposal for Big Banks for Public Comment
December 2, 2022
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Business & Marketsclimateeconomic policieseconomyenergyEnvironmentFDICFederal ReserveGold and CommoditiesInvestmentjerome powellMarketsPolicies & ImpactsSciencestocksUSUS News
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The Federal Reserve Board of Governors on Dec. 2 invited public comment on proposed principles for managing climate-related risks of banks with $100 billion or more in assets. Six of the board’s seven members voted in favor of the move. They included Federal Reserve Chair Jerome Powell, who became chair under President Donald J. Trump….
Wall Street Opens Lower After Robust November Jobs Report
Wall Street’s main indexes opened lower on Friday as higher-than-expected job additions in November poured cold water on investor expectations of the Federal Reserve easing its aggressive monetary policy tightening. The Dow Jones Industrial Average fell 129.6 points, or 0.38 percent, at the open to 34265.45. The S&P 500 fell 36.4 points, or 0.89 percent,…
Dollar Slips to 5-month Low, Yuan Set for Biggest Weekly Gain Since 2005
LONDON—The dollar was pinned near a five-month low against a basket of major currencies on Friday ahead of key U.S. labor market data, while the yuan was set for its biggest weekly gain since China abandoned its dollar peg and revalued its currency in 2005. The dollar index, which measures the currency against six major…
Oil Steady Ahead of OPEC+ Meeting, EU Russian Oil Ban
LONDON–Oil futures were broadly stable on Friday, but were poised to end the week up, ahead of a meeting by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on Sunday and an EU ban on Russian crude oil kicking in on Monday. Brent crude futures were up 14 cents, or 0.2 percent,…
World Shares Slip, Dollar Nurses Losses as US Payrolls Loom
December 2, 2022
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LONDON—European shares opened lower, Treasuries held on to gains and the dollar was nursing heavy losses on Friday ahead of U.S. non-farm payrolls data, the next big test for investors looking for more signs of a rates policy shift from the Federal Reserve. Data overnight including falling U.S. job openings and contracting U.S. manufacturing activity,…
S&P 500, Nasdaq Edge Higher on Solid Consumer Spending Data, Easing Prices
The S&P 500 and Nasdaq opened higher on Thursday after data showed a mild easing in inflation and solid consumer spending in October, adding to hopes of a likely downshift in the Federal Reserve’s aggressive rate hike policy. The Dow Jones Industrial Average fell 56.2 points, or 0.16 percent, at the open to 34533.59. The…
Yen, Pound Hit Strongest in Three Months on Powell Remarks on Fed Slowing
LONDON—The dollar weakened to three-month-lows against the yen and the pound on Thursday, after comments by Fed Chair Jerome Powell that U.S. rate hikes could be scaled back “as soon as December,” but the euro failed to climb past a major resistance level. The aggressive pace of U.S. Federal Reserve rate increases this year has…
Oil Rises Ahead of OPEC+ Meeting, Easing China COVID-19 Curbs Lend Support
December 1, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rose on Thursday supported by investor wariness that OPEC+ may cut supply further at its meeting on Sunday and as easing COVID-19 curbs in China raised hopes about higher demand in the world’s top crude importer. Crude gained further support, and the U.S. dollar weakened, after the Federal Reserve Chair opened the door to…
Bulls on the Charge After Fed Signals Smaller Hikes Ahead
December 1, 2022
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LONDON—The bulls were enjoying the good life in Europe on Thursday after the world’s most influential central banker, Jerome Powell, signaled this year’s frantic pace of U.S. interest rate hikes could be about to slow. It was a textbook ‘risk on’ pattern, with both the STOXX 600 and MSCI’s main world stocks index hitting their…
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