LONDON—Global equities slipped and bond yields hit multi-year highs on Tuesday after consumer prices hit a record in France and accelerated in Spain, adding to expectations that major central banks will need to continue tightening policy. France’s European Union-harmonised consumer prices rose to a record 7.2 percent in February while Spain’s EU-harmonised 12-month inflation was…
Shares Slip, Bond Yields Hit Multi-Year Highs on Inflation Fears
February 28, 2023
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Stocks Steady Themselves After Wall Street’s Rout Last Week
NEW YORK—Stocks steadied themselves Monday following Wall Street’s worst week since early December. The S&P 500 rose 12.20 points, or 0.3 percent to 3,982.24 for just its second gain in the last seven days. The Dow Jones Industrial Average gained 72.17, or 0.2 percent, to 32,889.09, while the Nasdaq composite climbed 72.04, or 0.6 percent,…
Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 27)
February 27, 2023
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Benchmark U.S. crude oil for April delivery fell 64 cents to $75.68 a barrel Monday. Brent crude for April delivery fell 71 cents to $82.45 a barrel. Wholesale gasoline for March delivery rose 1 cent to $2.37 a gallon. March heating oil rose 2 cents to $2.82 a gallon. April natural gas rose 18 cents…
US Core Capital Goods Orders Post Largest Gain in 5 Months; Shipments Surge
WASHINGTON—New orders for key U.S.–manufactured capital goods increased by the most in five months in January while shipments of those so-called core goods rebounded, suggesting that business spending on equipment picked up at the start of the first quarter. Some of the larger-than-expected rise in core capital goods orders reported by the Commerce Department on…
The Cost of Investing in Precious Metals
Gold and silver and other precious metals like platinum and palladium provide valuable security in times of financial turmoil. Despite price fluctuations, physical precious metals pose no credit risk and retain an intrinsically high economic value even when the stock market crashes. What are the costs of precious metals investing, and what associated expenses are…
The Clock Is Ticking
Commentary Recession indicators are becoming more insistent. Yet, the Federal Reserve remains focused on its inflation fight. As noted in “No Landing Scenario,” the Fed maintains a “hawkish” bias despite the markets not listening. As such: • “I wouldn’t rule out supporting a 50 basis-point March hike,” said James Bullard, president of the Federal Reserve…
Wall Street Opens Higher After Worst Weekly Selloff of 2023
Wall Street’s main indexes opened higher on Monday as investors bought beaten-down shares after the main benchmarks suffered their worst weekly selloff of the year on worries of aggressive interest-rate hikes. The Dow Jones Industrial Average rose 89.24 points, or 0.27 percent, at the open to 32,906.16. The S&P 500 opened higher by 22.32 points,…
Tesla’s German Plant Hits 4,000 Cars per Week Ahead of Schedule
BERLIN—Tesla’s German plant in Brandenburg near Berlin is now producing 4,000 cars per week, the company said on Monday, quadrupling from May when Chief Executive Elon Musk had compared investment in Tesla’s new plants to “gigantic money furnaces.” The Berlin plant hit the production target three weeks ahead of a production schedule reviewed by Reuters….
Toyota Production up 9 Percent in January, Chip Pain Still Lingers
TOKYO—Toyota Motor Corp. boosted global vehicle production by 9 percent in January, it said on Monday, its first increase in two months even as the carmaker continued to feel the strain from global chip shortages. The company, which is the world’s largest automaker by volume, and other car manufacturers are still grappling with tight supplies…
Dollar Hovers Near 7-Week High as US Rate Expectations Rise
SINGAPORE/LONDON—The dollar wavered near a seven-week high on Monday, as investors took stock of last week’s strong economic data and rapid reconsideration of where interest rates will peak. Data on Friday showed U.S. consumer spending rebounded sharply in January, while inflation accelerated. Traders now expect the Fed to raise interest rates to around 5.4 percent…
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