NEW YORK—Stocks were mixed in quiet trading Monday as Wall Street stays in a holding pattern ahead of a potentially big week. The S&P 500 rose 2.78 points, or 0.1 percent, to 4,048.42 after coming off its first winning week in the last four. The Dow Jones Industrial Average gained 40.47, or 0.1 percent, to…
Swiss National Bank Reports Annual Loss of 132.5 Billion Swiss Francs
ZURICH—The Swiss National Bank reported on Monday an annual loss of 132.5 billion Swiss francs ($141.54 billion), in line with the provisional calculations it announced in January. The loss, the biggest in the central bank’s 115-year history, was caused by a plunge in the value of the SNB’s investments caused by bond and stock market…
How Much Is a Pound of Gold Worth?
For years, the precious metals market has attracted many individuals looking to diversify their investment portfolios and secure financial freedom by purchasing and selling gold, silver, and more. Gold products, in particular, remain the most popular among investors, as this precious metal has unmatched durability, impressive resistance to corrosion, and a historical value that dates…
Wall Street Opens Higher as Focus Shifts to Powell’s Testimony
Wall Street’s main indexes opened higher on Monday, as Treasury yields retreated ahead of Federal Reserve Chair Jerome Powell’s testimony and jobs data this week that could offer fresh cues on the trajectory of interest rates. The Dow Jones Industrial Average rose 34.35 points, or 0.10 percent, at the open to 33,425.32. The S&P 500…
World Stocks Gain After Wall Street Has Best Day in 6 Weeks
March 6, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares were mostly higher Monday in Europe and Asia after strong data on the U.S. economy sent Wall Street to its best close in six weeks. Germany’s DAX gained 0.4 percent to 15,644.08 and the CAC 40 in Paris was up 0.7 percent at 7,397.31. London’s FTSE 100 edged 0.1 percent lower to 7,941.38. The…
Dollar Eases Ahead of Powell’s Testimony and Pivotal Monthly Jobs Data
LONDON—The U.S. dollar eased on Monday as investors awaited testimony from Federal Reserve Chair Jerome Powell ahead of the February jobs report at the end of the week that will likely influence how much more the U.S. central bank will raise interest rates. The dollar index, which measures the performance of the U.S. currency against…
Oil Down on China Outlook, Spotlight on Powell Testimony
March 6, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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Oil prices slipped on Monday after China set a lower-than-expected target for economic growth this year at around 5 percent, and as investors cautiously awaited U.S. Federal Reserve Chair Jerome Powell’s testimony this week. Brent crude futures were trading down 53 cents, or 0.6 percent, at $85.30 a barrel at 0735 GMT. U.S. West Texas…
Probability of Debt Default Has Risen 300 Percent Since Start of Year: Report
March 4, 2023
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Business & Marketscongresscredit default swapsdefaulteconomic policieseconomyExecutive BranchMarketsPolicies & ImpactsPoliticsU.S. government debtUS
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The probability of a catastrophic U.S. debt default has risen by 300 percent since the start of the year. A recent report from MSCI, an American financial service provider, warned about the tripling of a debt default and said that Congress must pass a spending bill to avoid a disaster in the next few months. “Implied default probabilities have…
Buffett On Buybacks
March 4, 2023
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BerkshireBuffettBusiness & MarketsBusiness ColumnistsBuybacksCompanieseconomic policiesHathawayMarketsstocks
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Commentary Warren Buffett defended stock buybacks in Berkshire Hathaway Inc.’s 2022 Annual Report (pdf), pushing back on those railing against the practice he believes benefits all shareholders. “When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued…
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 3)
March 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 April delivery rose $1.52 to $79.68 a barrel Friday. Brent crude for May delivery rose $1.08 to $85.83 a barrel. Wholesale gasoline for April delivery rose 5 cents to $2.75 a gallon. April heating oil rose 4 cents to $2.91 a gallon. April natural gas rose 24 cents to $3.01…
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