NEW YORK—Stocks dropped Thursday following another mixed set of profit reports from companies, as rising expectations for interest rates keep up the pressure on Wall Street. The S&P 500 fell 0.9 percent, while the Dow Jones Industrial Average lost 249 points, or 0.7 percent, and the Nasdaq composite sank 1 percent. All three indexes had…
Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 9)
February 9, 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 41 cents to $78.06 a barrel Thursday. Brent crude for April delivery fell 59 cents to $84.50 a barrel. Wholesale gasoline for March delivery fell 1 cent to $2.45 a gallon. March heating oil fell 7 cents to $2.82 a gallon. March natural gas rose 3 cents…
South Korea Fines German Automakers for Rigging Diesel Car Emissions
February 9, 2023
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Asia & PacificBusiness & Marketscar emissionCompanieseconomic policieseconomyEuropefinesKoreaMarketsregulatorWorld
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South Korea officials fined German automakers for colluding to rig diesel car emissions. The country’s antitrust regulator announced the imposition of a fine totaling a combined 42.3 billion won ($33.48 million) on three German automakers for colluding to curb emissions-cleaning technology for their diesel-powered cars, reported Reuters. Mercedes-Benz, BMW, Audi (Volkswagen) were accused of colluding…
Toyota’s 3rd-Quarter Profit Jumps 22 Percent, Buoyed by Weak Yen and Higher Sales
TOKYO—Japan’s Toyota Motor Corp. posted a surprise 22 percent rise in third-quarter operating profit on Thursday, as a weaker yen and higher sales volumes helped the world’s top automaker overcome a jolt from the soaring costs of raw materials. Global car makers have been squeezed by both the semiconductor shortage and rising costs, adding to…
PepsiCo Says No More Price Hikes After Better-Than-Expected Quarterly Results
PepsiCo Inc. said on Thursday it will not further raise prices of its sodas and snacks after multiple rounds of price hikes last year that helped the beverage giant post fourth-quarter profit and revenue ahead of analysts’ estimates. A near duopoly in the carbonated drinks market with Coca-Cola Co. helped PepsiCo raise prices over the…
Used Car Prices Pop Up Unexpectedly, Suggesting Inflation Woes Not Over
February 9, 2023
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Business & Marketscar salesCompanieseconomic policieseconomyinflationMarketspersonal financeUSused car prices
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Used car prices jumped unexpectedly in January, which suggests that inflation woes are not over for car buyers. The news has the potential to squash optimistic predictions that inflation is heading downward, as the Federal Reserve continues to hike interest rates. Used car prices have increasingly become a point of interest for investors and for…
Oil Prices Steady After US Stockpile Swell
February 9, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were steady on Thursday, as optimism over recovering Chinese demand was offset by U.S. oil inventories hitting their highest in months and signs the U.S. Federal Reserve could keep raising interest rates. Brent crude futures gained 30 cents to $85.39 a barrel by 0856 GMT, while U.S. West Texas Intermediate (WTI) crude futures…
Oil Prices Steady After US Stockpiles Swell
February 9, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were steady on Thursday, as optimism over recovering Chinese demand was offset by U.S. oil inventories hitting their highest in months and signs the U.S. Federal Reserve could keep raising interest rates. Brent crude futures dipped 12 cents to $84.97 a barrel by 1227 GMT, while U.S. West Texas Intermediate (WTI) crude futures…
SEC Warns Against Including Crypto Assets in Retirement Accounts
February 9, 2023
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Business & Marketscrypto assetscrypto exchangecrypto regulationscryptocurrencyeconomic policieseconomyMarketsretirement fundsSEC alertUSUS News
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The U.S. Securities and Exchange Commission (SEC) has warned Americans over the risk of including assets like cryptocurrencies in their self-directed individual retirement accounts (IRAs) as well as unregulated trading platforms posing as exchanges. Some self-directed IRAs offer investment in crypto assets like tokens, coins, and virtual currencies. Such assets “may be securities that are…
World Shares Mixed After Wall Street Falls on Rate Hike Worries
February 9, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares advanced in Europe after a mixed session Thursday in Asia as uncertainty persists over interest rates and inflation. Benchmarks rose in Paris, London, Shanghai, and Hong Kong but fell in Tokyo, Seoul, and Sydney. U.S. futures gained while oil prices also were higher. Germany’s DAX added 1.4 percent to 15,621.11 and the CAC 40…
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