LONDON/SINGAPORE—The dollar fell slightly against the yen on Tuesday as markets remained on high alert for signs of Japanese intervention, but the broader market was placid with U.S. traders off for a public holiday. The greenback was down 0.18 percent at 1104 GMT to 144.44 yen, after rising 0.27 percent on Monday. However, the yen…
Oil Rises as Market Weighs Supply Cuts Against Gloomy Economic Outlook
LONDON—Oil prices ticked higher on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against a weak global economic outlook. Brent crude futures were up 85 cents, or 1.1 percent, to $75.50 a barrel at 0950 GMT. U.S. West Texas Intermediate crude was at $70.61 a barrel, up 82…
Stocks Drift as Investors Balance Peak Rate Hopes With Oil Price Rise
July 4, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/HONG KONG—Global stocks held steady on Tuesday, as investors balanced the inflationary force of rising oil prices with hopes that central banks would not over-tighten monetary policy into a potential recession. MSCI’s broadest index of world stocks, which rose almost 6 percent last month as the U.S. Federal Reserve paused its cycle of aggressive rate…
Reserve Bank of Australia Pauses Interest Rate Hike in July
July 4, 2023
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AustraliaBusiness & Marketseconomic policieseconomyinflationinterest ratesphilip lowerecessionReserve Bank of AustraliaWorld
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Australians have narrowly avoided a new round of interest rate hikes after the Reserve Bank of Australia (RBA) decided to keep the official cash rate unchanged in July. In its latest board meeting, the RBA announced that it would maintain the current official cash rate of 4.1 percent throughout July. The central bank said the…
New Guidelines Set to Boost Melbourne’s Night-Time Economy
The Andrews Labor government has lifted its freeze on late-night liquor licences in the inner-city municipalities of Melbourne, Port Phillip, Yarra and Stonnington to support Melbourne’s night-time economy. Anthony Carbines, the acting Minister for Casino, Gaming and Liquor Regulation, made the announcement on July 4, saying that it is in line with the government’s election…
ANALYSIS: Bidenomics: Big Government, Industrial Policy and Centralized Control
July 4, 2023
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Biden InflationBidenomicsBusiness & MarketsDemocratseconomic policieseconomyenergyExecutive Branchindustrial policyinflationPoliticsReaganomicsUS
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With an eye toward the upcoming presidential elections, the White House has launched a new public relations campaign called “Bidenomics,” to define President Joe Biden’s economic agenda. “I don’t know what the hell that is, but it’s working,” Biden stated at a June 17 union rally in Philadelphia, begging the question: what is Bidenomics, and…
Bidenomics: Big Government, Industrial Policy and Centralized Control
July 4, 2023
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Biden InflationBidenomicsBusiness & MarketsDemocratseconomic policieseconomyenergyExecutive Branchindustrial policyinflationPoliticsReaganomicsUS
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With an eye toward the upcoming presidential elections, the White House has launched a new public relations campaign called “Bidenomics,” to define President Joe Biden’s economic agenda. “I don’t know what the hell that is, but it’s working,” Biden stated at a June 17 union rally in Philadelphia, begging the question: what is Bidenomics, and…
United Airlines Gets a Handle on Canceled Flights, CEO Outlines How to Prevent Another Meltdown
Air travelers could breathe a little easier Monday, as a break in stormy weather—and lighter schedules a day before the July 4 holiday—helped airlines keep more flights moving on time. By 10 p.m. ET, about 133 U.S. flights had been canceled and 4,454 were late, according to FlightAware. Those numbers were down from more than…
Closing Prices for Crude Oil, Gold, and Other Commodities (July 3)
July 3, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for August delivery fell 85 cents to $69.79 a barrel Monday. Brent crude for September delivery fell 76 cents to $74.65 a barrel. Wholesale gasoline for August delivery fell 8 cents $2.46 a gallon. August heating oil fell 7 cents to $2.38 a gallon. August natural gas fell 9 cents to…
How Major US Stock Indexes Fared July 3
Stocks drifted higher Monday as momentum slowed on Wall Street following a powerful rally to start the year. The S&P 500 edged up 0.1 percent, rising to its highest level since April 2022. The Dow rose less than 0.1 percent. The Nasdaq composite rose 0.2 percent. Tesla rose after it said the number of vehicles…
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