BANGKOK—Shares rose in early European trading after closing mostly lower in Asia ahead of the release of consumer price data in the U.S. Benchmarks advanced in Paris, London, Tokyo, and Sydney but fell in Hong Kong, Shanghai, and Seoul. Oil prices rose while U.S. futures edged lower. Friday will bring the core U.S. personal consumption…
Global Stocks Mixed After Wall Street Breaks Losing Streak
February 24, 2023
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Australia’s Largest Supermarket Chains Overcome Challenging Economic Conditions
Two major Australian supermarket chains have reported significant profit growth for the first half of the 2022-2023 financial year, which they attributed to their efforts in meeting customers’ demand and a reduction in COVID-19 related costs. Woolworths Group, which owns the largest supermarket chain in the country–Woolworths, and a number of retail businesses such as…
Stocks Rise on Wall Street and Break a 4-day Losing Streak
NEW YORK—Stocks climbed Thursday after a see-saw day on Wall Street to break out of their longest losing streak since December. The S&P 500 rose 0.5 percent for its first gain in five days. The Dow Jones Industrial Average gained 108 points, or 0.3 percent, while the Nasdaq composite added 0.7 percent. Tech stocks helped…
Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 23)
February 23, 2023
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Benchmark U.S. crude oil for April delivery rose $1.44 to $75.39 a barrel Thursday. Brent crude for April delivery rose $1.61 to $82.21 a barrel. Wholesale gasoline for March delivery rose 4 cents to $2.38 a gallon. March heating oil was unchanged at $2.71 a gallon. March natural gas rose 14 cents to $2.31 per…
British BAE Systems Saw Record Orders in 2022 Due to Ukraine War
February 23, 2023
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The United Kingdom’s largest defense firm experienced record orders as the Russia–Ukraine war boosted military spending in 2022. British defense giant BAE Systems said on Feb. 23 that orders for weapons systems soared last year amid an “elevated threat environment” in the wake of Russia’s invasion of Ukraine. The group is one of the largest builders…
Mortgage Insurance Costs Being Cut by $800 for 850,000 Americans
February 23, 2023
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U.S. mortgage insurance costs are being cut by $800 for 850,000 Americans. Families buying their first home will be eligible to receive some relief from mortgage insurance payments, following an announcement by the White House on Feb. 23. Vice President Kamala Harris announced the new program during an event in Maryland on Feb. 23 along…
The Bear Market Ain’t Over Till It’s Over
February 23, 2023
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Commentary On Feb. 21, the stock market got hit by a freight train. It surprised a lot of people because unlike the groundhog, they were starting to warm up and think the winter in stocks had ended. After all, the people who identify as technical analysts brought out their charts and showed why the market…
Fiat Money Has Won the Battle Against Cryptocurrencies, Says BIS Chief
February 23, 2023
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Agustin Carstens, head of the Bank for International Settlements (BIS), believes the battle between cryptocurrency and fiat currencies has come to an end, with the latter emerging as the winner. Fiat currency refers to money that has legal tender by government decree. “That battle has been won … A technology doesn’t make for trusted money,”…
Wall Street Opens Higher as Nvidia Offsets Fed Jitters
Wall Street’s main stock indexes opened higher on Thursday as a strong sales forecast from Nvidia boosted chipmakers, although a surprise fall in weekly jobless claims added to worries that the Federal Reserve will keep raising interest rates for longer. The Dow Jones Industrial Average rose 130.30 points, or 0.39 percent, at the open to…
US Applications for Jobless Benefits Fall Again Last Week
February 23, 2023
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The number of Americans filing for jobless aid fell last week as the labor market remains resilient in the face of the Federal Reserve’s interest rate increases meant to cool the economy. Applications for unemployment benefits in the U.S. for the week ending Feb. 18 fell by 3,000 last week to 192,000, from 195,000 the…
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