Tag: stocks

Stocks Rally After Fed Chair Signals Slowdown in Rate Hikes

November 30, 2022
Business & MarketsMarketsstocksWall Street
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Wall Street closed out a solid November with a broad market rally Wednesday after the head of the Federal Reserve said the central bank could soon begin easing up on its aggressive interest rate increases aimed at taming inflation. Fed Chair Jerome Powell, speaking at the Brookings Institution, reaffirmed that the central bank could begin…

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Wall Street Opens Flat Ahead of Powell Speech

November 30, 2022
Business & Marketseconomic policieseconomyinflationMarketsrecessionstocksUS
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U.S. stock indexes opened flat on Wednesday ahead of comments from Federal Reserve Chair Jerome Powell that will be closely watched for signs of a slowdown in the pace of interest rate hikes by the central bank. The S&P 500 opened lower by 0.45 points, or 0.01 percent, at 3,957.18, while the Nasdaq Composite gained…

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Dollar Heads for Biggest Monthly Loss Since 2010 Ahead of Powell Speech

November 30, 2022
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar eased from a one-week high on Wednesday ahead of a speech by Federal Reserve Chair Jerome Powell, while optimism over a possible loosening in China’s COVID-19 restrictions set it on course for its biggest monthly loss since late 2010. Eurozone inflation in November showed the first monthly deceleration since June last year, as…

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Oil up Over 2 Percent on Tighter Supply

November 30, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose by over 2 percent on Wednesday on signs of tighter supply, a weaker dollar, and optimism over a Chinese demand recovery. Brent crude futures rose $2.06, or 2.48 percent to $85.09 per barrel by 1044 GMT. The more active February Brent crude contract rose by 2.02 percent to $85.95. U.S. West Texas…

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Global Shares Mostly Higher Ahead of Fed Chair’s Key Speech

November 30, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares were mostly higher on Wednesday, ahead of a closely watched speech by the Federal Reserve chief that may give clues about future interest rate hikes. Investors were also eyeing developments in China, where protests have erupted over the “zero-COVID” strategy that has confined millions of people to their homes, sometimes for months. France’s…

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S&P 500 Ends Down as Apple Dips and Traders Eye Powell Speech

November 29, 2022
Business & MarketsMarketsstockstocks
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The S&P 500 ended down on Tuesday, with losses in Apple and Amazon ahead of an upcoming speech by Federal Reserve Chair Jerome Powell that could provide hints about magnitude of future interest rate hikes. Investors also focused on recent protests against COVID-19 curbs in China, including at the world’s biggest iPhone factory. Apple’s stock…

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Nasdaq Opens Higher; Tesla Leads Gains in Growth Stocks

November 29, 2022
Business & MarketsCompanieseconomic policieseconomyMarketsstocksUS
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The Nasdaq opened higher on Tuesday, as Tesla led gains among beaten-down growth shares, amid some hopes that public unrest in China could lead to a quicker easing of COVID-19 curbs by its regime. The Dow Jones Industrial Average fell 1.7 points at the open to 33847.8. The S&P 500 fell 0.3 points, or 0.01…

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Yuan Rallies on Hopes of China COVID-19 Policy Relief, Euro Surges

November 29, 2022
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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The yuan jumped against the dollar on Tuesday amid hopes of a potential easing in the country’s strict pandemic restrictions following an unprecedented episode of unrest. The euro rose ahead of inflation data due on Wednesday. The offshore yuan surged 0.9 percent to 7.1850 a dollar. The onshore yuan was up 0.6 percent at 7.1666…

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Oil Jumps on Hopes for Easing of China’s COVID-19 Controls

November 29, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices jumped by 3 percent on Tuesday on hopes for a relaxation of China’s strict COVID-19 controls after rare protests in Chinese cities over the weekend. Brent crude futures gained $2.50, or 3 percent, to $85.69 a barrel at 1119 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.98, or 2.6 percent, to…

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Stocks and Oil Rise on Hopes of Looser COVID-19 Curbs in China

November 29, 2022
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SYDNEY—Stocks and oil gained on Tuesday on hopes that public unrest in China might prompt an earlier loosening of COVID-19 curbs in the world’s biggest economy, with the yuan up and the dollar down as investor appetite for riskier assets grew. The Euro STOXX 600 gained 0.4 percent, recovering from its worst session in almost…

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