WASHINGTON—The number of Americans filing new claims for unemployment benefits increased by the most in five months last week, but the underlying trend remained consistent with a tight labor market. Part of the larger-than-expected rise in claims reported by the Labor Department on Thursday reflected a surge in applications in New York state, which some…
US Weekly Jobless Claims Post Largest Rise in 5 Months; Labor Market Still Tight
March 10, 2023
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Dollar Steady as Volatile Markets Brace for Payroll Data, Yen Slides
SINGAPORE/LONDON—The dollar index was steady on Friday, a rare spot of calm in volatile global markets ahead of key U.S. payrolls data later in the day, while the yen weakened after the Bank of Japan kept stimulus settings steady. The dollar jumped as much as 0.63 percent against the yen, a knee-jerk move after the…
Oil Prices Set for 5 Percent Weekly Drop on US Rate Hike Jitters
March 10, 2023
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LONDON—Oil fell for a fourth session on Friday, heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate hikes in the United States hitting fuel demand. Brent dipped 41 cents, or 0.5 percent, to $81.18 a barrel by 0852 GMT. U.S. West Texas Intermediate crude (WTI) was…
Global Stocks, Wall Street Futures Sink Ahead of US Jobs Update
March 10, 2023
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BEIJING—Global stock markets and Wall Street futures fell Friday ahead of a U.S. job market update amid unease about possible further interest rate hikes. Markets in London, Shanghai, Frankfurt, and Tokyo declined. Oil prices were lower. Wall Street’s benchmark S&P 500 index fell Thursday by its biggest one-day margin this year after Federal Reserve Chair…
Bankman-Fried’s Lawyers Say October Trial May Need to Be Delayed
March 9, 2023
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NEW YORK—Sam Bankman-Fried’s lawyers said on Wednesday it may be necessary to delay the FTX cryptocurrency exchange founder’s scheduled Oct. 2 criminal trial, arguing it may take more time than expected to review the evidence and prepare a defense. In a letter to U.S. District Judge Lewis Kaplan, the 31-year-old former billionaire’s lawyers said federal…
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 9)
March 9, 2023
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Benchmark U.S. crude oil for April delivery fell 94 cents to $75.72 a barrel Thursday. Brent crude for May delivery fell $1.07 to $81.59 a barrel. Wholesale gasoline for April delivery fell 8 cents to $2.61 a gallon. April heating oil fell 7 cents to $2.67 a gallon. April natural gas fell 1 cent to…
Refiner Citgo Petroleum Posts Record $2.8 Billion Profit for 2022
March 9, 2023
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HOUSTON—Refiner Citgo Petroleum Corp. on Thursday reported a record net profit of $2.8 billion for 2022 on strong motor fuel demand, high margins, and refining output that exceeded its plants’ listed capacity. Rebounding from a loss of $160 million in 2021 and two straight years of losses, the results for last year also exceeded the…
Wall Street Opens Higher Ahead of Payrolls Data
Wall Street’s main indexes opened higher on Thursday as a greater-than-expected rise in weekly jobless claims eased some rate-hike jitters ahead of a key payrolls report that could determine the Fed’s monetary policy path. The Dow Jones Industrial Average rose 78.43 points, or 0.24 percent, at the open to 32,876.83. The S&P 500 opened higher…
Kremlin Doubts Nord Stream Attacks Could Have Happened Without State Support
March 9, 2023
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MOSCOW—The Kremlin said on Thursday it doubted the attacks on the Nord Stream pipelines last September could have been carried out without state support. Kremlin spokesman Dmitry Peskov’s comments came after the New York Times this week reported that U.S. officials were looking into whether a pro-Ukrainian non-government group was responsible for the blasts. “As…
Dollar Holds Near 3-month Highs on Rates Outlook
SINGAPORE/LONDON—The dollar held near a three-month high on Thursday, underpinned by Federal Reserve Chair Jerome Powell’s message that interest rates would have to go higher and possibly faster. The yuan weakened after the government reported unexpectedly low inflation. In the second day of his testimony to Congress on Wednesday, Powell reaffirmed his message, though he…
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