NEW YORK—Wall Street rose Monday as traders made their final moves ahead of a report that could show whether inflation is cooling in the right way or setting the market up for worse pain. The S&P 500 climbed 1.1 percent in anticipation of Tuesday’s report on inflation at the consumer level across the country. The…
Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 13)
February 13, 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 rose 42 cents to $80.14 a barrel Monday. Brent crude for April delivery rose 22 cents to $86.61 a barrel. Wholesale gasoline for March delivery rose 3 cents to $2.53 a gallon. March heating oil rose 5 cents to $2.91 a gallon. March natural gas fell 11 cents…
Central Bank Digital Currency Tyranny Is Coming–How to Prepare
Commentary We’ve all heard stories about people who survived the Great Depression by hiding cash under their mattresses or burying it in their yards because they’d lost trust in banks. Imagine taking it a step further and taking money from the flawed banking system and putting it into the untrustworthy hands of the government. That’s…
Fed’s Bowman Says More Interest Rate Hikes Needed to Tame Inflation
The Federal Reserve will need to continue to raise interest rates in order to get them to a level high enough to bring inflation back down to the central bank’s target rate, Fed Governor Michelle Bowman said on Monday. “I expect we’ll continue to increase the federal funds rate because we have to bring inflation…
Let’s Rethink Stock Buybacks—and Drop Biden’s Proposed Excise Tax
February 13, 2023
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Business & MarketsBusiness Columnistseconomic policiesinvestingInvestmentMarketsSECstock buybacksstock manipulationstocksUS
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Commentary Bloomberg, citing private newsletter publisher Birinyi Associates, reports that “announced buybacks more than tripled (in January) to $132 billion from a year ago, reaching the highest total ever to start a year.” For those of us who follow these things, it’s not surprising: the record level of stock buybacks comes amid an earnings season that has been…
Why Gold Flourishes in Times of Market Volatility, War, and Crisis
February 13, 2023
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Business & MarketscrisisgoldGold and CommoditiesInvestmentmarket volatilityMarketsSponsored Contentwar
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It’s no secret that gold makes a worthwhile investment. For years, investors have purchased gold in times of crisis to protect their assets from market fluctuations and significant financial losses. One of the most attractive features of gold is its unique ability to hold its value even when the market dips. Now that volatility seems…
Wall Street Climbs Higher on Megacap Boost
U.S. main stock indexes opened higher on Monday as beaten-down megacap growth stocks gained, while Meta Platforms climbed on reports of fresh layoffs. The Dow Jones Industrial Average .DJI rose 18.12 points, or 0.05 percent, at the open to 33,887.39. The S&P 500 .SPX opened higher by 6.16 points, or 0.15 percent, at 4,096.62, while…
Yen Slides, Dollar Index Near 5-week High as CPI Looms
TOKYO/LONDON—The dollar edged toward a five-week high versus major peers on Monday as the Japanese yen slid and investors increased bets on the Federal Reserve keeping monetary policy tight for longer. The major event this week will be the release of U.S. consumer price data on Tuesday, which will drive expectations for the Fed’s policy….
Oil Falls on Demand Fears as Fed ‘Make or Break Moment’ Approaches
February 13, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices slumped by about 1 percent on Monday as investors focused on short-term demand concerns ahead of key U.S. inflation data. Brent crude futures fell $1.14, or 1.3 percent, to $85.25 a barrel by 1005 GMT after a 2.2 percent gain on Friday. U.S. West Texas Intermediate crude was down $1.11, or 1.3 percent,…
Shares Steady, Dollar Gains Ahead of US Inflation Data
February 13, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SYDNEY—Global shares steadied, while the dollar rose on Monday, ahead of U.S. inflation data that could define the outlook for global interest rates, while news that the U.S. air force had shot down another airborne object created some geopolitical uncertainty. Officials declined to say whether this object, which was spotted along the Canadian border and…
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