Wall Street’s main stock indexes were subdued at the open on Monday after two straight weeks of losses on recession worries, while Tesla shares rose after a poll showed Elon Musk should quit as Twitter’s CEO. The Dow Jones Industrial Average rose 0.99 points, or 0.00 percent, at the open to 32,921.45. The S&P 500…
Dollar Slips as Markets Bounce
LONDON—The U.S. dollar slipped on Monday as a pick-up in market sentiment drove stocks and riskier currencies higher. The dollar index—which tracks the greenback against a basket of six major currencies—fell 0.4 percent to 104.410, reversing some of its gains from the previous week after the U.S. Federal Reserve and European Central Bank hiked rates….
Oil Bounces as China Demand Hopes Offset Recession Fears
LONDON—Oil rose on Monday after tumbling by more than $2 a barrel in the previous session as optimism over the Chinese economy outweighed concern over a global recession. China, the world’s top crude oil importer, is experiencing its first of three expected waves of COVID-19 cases after Beijing relaxed mobility restrictions but plans to step…
Stocks Wobble as Rate Risks Cloud 2023 Outlook
MILAN—World stocks inched higher on Monday but stayed near 6-week lows as investors started the year’s last full trading week still mindful of interest rate hike risks to the economy in 2023. The U.S. Federal Reserve and European Central Bank hiked rates and promised more last week, and speculation is even building that the Bank…
Dollar Holds on to Gains After Rallying on Rate Hikes
LONDON/TOKYO—The dollar was little changed on Friday after jumping in the previous session, as traders analyzed a raft of central bank rate hikes and grappled with the prospect that borrowing costs still have a way to climb. The euro was flat against the dollar in early European trading at $1.063. That followed a 0.5 percent…
Oil Falls, Still Set for Weekly Gain on Demand Hopes
LONDON—Oil fell on Friday as the market assessed the aftermath of interest rates hikes by central banks, but was poised for a weekly gain amid supply disruption concerns and hopes for a recovery of demand in China. Brent crude futures were down $1.56, or 1.9 percent, to $79.65 per barrel at 1200 GMT. West Texas…
Stock, Bonds Stung by Hawkish Central Banks
LONDON—World stocks were stuck near one-month lows and government bond markets came under fresh selling pressure on Friday, a day after a slew of central banks jacked up interest rates and signaled that the fight to tame inflation was not over yet. Interest rates went up in the euro area, Britain, Switzerland, Denmark, Norway, Mexico,…
Dollar Gains After Fed Meet, BOE and ECB in Focus
LONDON—The dollar strengthened across the board on Thursday after the Federal Reserve said it would deliver more interest rate hikes next year and before meetings of the Bank of England and the European Central Bank. The euro fell 0.67 percent to $1.0611, and sterling lost 0.9 percent to $1.2316, both falling from six-month highs hit…
Oil Steadies After Early Decline as More Rate Hikes Loom
LONDON—Oil prices steadied on Thursday after early declines as the dollar firmed while the possibility of further increases to interest rates by central banks also heightened demand concerns. Brent crude futures rose 14 cents, or 0.2 percent, to $82.84 a barrel by 1055 GMT and U.S. crude futures added 1 cent to $77.29. Gains in…
World Shares Decline After Fed Warns of Higher Rates to Come
BANGKOK—Shares skidded in Europe and Asia on Thursday after a retreat on Wall Street by investors dismayed over the Federal Reserve’s warning that still more interest rate hikes are in store following its latest increase. Oil prices fell and U.S. futures also dropped. The declines followed the U.S. Federal Reserve’s hike in its key short-term…
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