LONDON/SINGAPORE—European stocks fell on Tuesday ahead of key data that will offer a window into the health of major economies, while the dollar hovered close to its highest in six weeks. The eurozone, Britain, France, and the United States are all set to publish flash February PMI data, with market players watching for signs of…
Shares Slip as Key Economic Data Looms
February 21, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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Britain Facing Tomatoes Shortage After Overseas Harvests Disrupted
LONDON—Britons are facing a shortage of tomatoes after supermarket supplies, including at market leader Tesco and No. 2 Sainsbury’s, were impacted by disrupted harvests in southern Europe and North Africa. Warmer weather in these regions that affected crop yields was followed by recent cooler weather leading to longer growth times. “Difficult weather conditions in the…
Silver Shortages Allowing Prices to Approach a Nine-Year High
Analysts believe silver may hit a nine-year high of $30 per ounce in 2023, the highest it’s been since February 2013. If silver fulfills this projected 8.8 percent increase, it will outperform gold. As silver supply dwindles, industrial demand increases, inflation soars, and more investors flock toward the cheaper precious metal option as a safe…
Dollar Edges Lower From 6-Week Peak, Eyes on Fed
LONDON—The dollar edged lower on Monday but remained close to Friday’s six-week high, as a recent flurry of positive economic data reinforced market expectations of tighter monetary policy from the Federal Reserve. The U.S. dollar index, which measures it against six other major currencies, slipped 0.14 percent to 103.83, though is up almost 1.8 percent…
Oil Rises on China Demand Optimism and Supply Concerns
February 20, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers, and Russia’s plans to rein in supply. Brent crude rose 59 cents, or 0.7 percent, to $83.59 a barrel by 1020 GMT. U.S. West Texas Intermediate (WTI) crude for March, which expires on Tuesday, was up 58 cents,…
Shares Edge Up as US Holiday Interrupts Interest-Rate Reality Check
February 20, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global shares edged up on Monday as a U.S. holiday made for slow trading ahead of minutes of the latest Federal Reserve meeting and a reading on core inflation that could add to the risk of interest rates heading higher for longer. The dollar, which is heading for its largest one-month rise since September in…
US Import Prices Fall in January; Annual Increase Smallest in Two Years
WASHINGTON—U.S. import prices dropped for a seventh straight month in January amid declining costs for energy products, leading to the smallest annual increase in imported inflation in two years. The report from the Labor Department on Friday, however, did little to assuage financial market fears the Federal Reserve could maintain its interest hiking campaign through…
Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 17)
February 17, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for March delivery fell $2.15 to $76.34 a barrel Friday. Brent crude for April delivery fell $2.14 to $83 a barrel. Wholesale gasoline for March delivery fell 3 cents to $2.41 a gallon. March heating oil fell 10 cents to $2.71 a gallon. March natural gas fell 11 cents to $2.28…
Used Car Prices Soar, Highest Jump in 14 Years
February 17, 2023
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auto loanBusiness & Marketseconomic policieseconomyinflationMarketsPolicies & ImpactsrecessionUSused car prices
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Used car prices have seen the largest February increase in 14 years as inflation continues to drive consumer prices. Wholesale used-vehicle prices increased 4.1 percent from January through the first half of this month, signifying the largest February increase since 2009’s full-month 4.4 percent gain, according to the mid-month Manheim Used Vehicle Value Index from Cox Automotive….
Recession ‘Near’ as US Leading Economic Index Drops for Tenth Straight Month
February 17, 2023
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Business & Marketseconomic policieseconomyFederal ReserveinflationInvestmentMarketspersonal financePolicies & ImpactsrecessionThe Conference BoardUS
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The United States is approaching a recession, as a closely watched economic index dropped for the tenth straight month in January, for the longest slump since the Lehman Brothers collapse in 2008. The Conference Board Leading Economic Index (LEI), released on Feb. 17, declined by 0.3 percent in January, following an 0.8 percent contraction in December….
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