TOKYO—Global shares were higher Wednesday after reports on key measures of China manufacturing showed a strong recovery after anti-virus controls were lifted late last year. France’s CAC 40 added 0.5 percent in early trading to 7,301.78. Germany’s DAX rose 0.5 percent to 15,422.23. Britain’s FTSE 100 rose 0.2 percent to 7,912.56. The future for the…
Global Shares, Oil Advance as China Manufacturing Rebounds
March 1, 2023
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Belgium to Sell Part of BNP Paribas Stake for More Than $2 Billion
PARIS—Shares in French bank BNP Paribas fell on Wednesday, after the Belgian state participation agency SFPI had said it was preparing the sale of a third of its 7.8 percent equity stake in the euro-zone’s biggest bank. The Belgian state participation agency on Tuesday said it will dispose of around 2.7 percent in the French…
Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 28)
February 28, 2023
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Benchmark U.S. crude oil for April delivery rose $1.37 to $77.05 a barrel Tuesday. Brent crude for April delivery rose $1.44 to $83.89 a barrel. Wholesale gasoline for March delivery rose 6 cents to $2.43 a gallon. March heating oil was unchanged at $2.82 a gallon. April natural gas rose 2 cents to $2.75 per…
Wall Street Closes Out a Chilling February With Another Dip
NEW YORK—A frigid February for Wall Street closed out with more losses on Tuesday. The S&P 500 fell 0.3 percent to lock in a loss of 2.6 percent for the month. The Dow Jones Industrial Average fell 232 points, or 0.7 percent, while the Nasdaq composite slipped 0.1 percent. Both also sank over the month….
Target’s Holiday Sales Get Boost From Discounts, Warns on 2023 Earnings
Target Corp. posted a surprise rise in holiday-quarter sales on Tuesday on higher store visits from discount-hungry Americans, even as it joined other retailers to caution on 2023 earnings due to an uncertain U.S. economy. Shares rose 2 percent as the company beat quarterly profit estimates for the first time in a year. Surging prices…
Wall Street Opens Lower as Treasury Yields Rise
Wall Street’s main indexes fell at the open on Tuesday as Treasury yields rose on bets of more interest rate hikes from the Federal Reserve. The Dow Jones Industrial Average fell 15.62 points, or 0.05 percent, at the open to 32,873.47. The S&P 500 opened lower by 5.05 points, or 0.13 percent, at 3,977.19, while…
Japan’s Factory Output Posts Biggest Fall in 8 Months on Weak Autos, Chips Sectors
TOKYO—Japan’s factory output shrank at the fastest pace in eight months in January as declining overseas demand took a heavy toll on key industries such as auto and semiconductor equipment. In contrast, retail sales posted their fastest growth in nearly two years, separate data showed, highlighting the divergent paths between soft manufacturing and robust…
Dollar Heading for 1st Monthly Gain Since September
SINGAPORE/LONDON—The U.S. dollar steadied on Tuesday, having lost ground a day earlier, climbing particularly against the Japanese yen, and on track for its first monthly gain since September. The greenback’s rally gathered momentum in recent weeks as upbeat economic data led to mounting expectations that the U.S. Federal Reserve will have to raise interest rates…
US Pending Home Sales Post Largest Gain in 2–1/2 Years in January
WASHINGTON—Contracts to buy U.S. previously owned homes rose by the most in more than 2–1/2 years in January, but a resurgence in mortgage rates could delay a much-awaited housing market turnaround. The National Association of Realtors (NAR) said on Monday its Pending Home Sales Index, based on signed contracts, jumped 8.1 percent last month, the…
Oil Rises on China Growth Optimism
February 28, 2023
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LONDON—Oil prices rose on Tuesday, erasing the previous session’s losses, as Optimism for a solid economic rebound in China offset worries about further U.S. interest rate hikes dragging on consumption in the world’s biggest economy. Brent crude futures for April, due to expire on Tuesday, were up by 87 cents, or 1.1 percent, to $83.32…
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