What Is Coin Mintage? Minting is the process of printing and distributing certified coins into circulation. However, “mintage” refers to the total number of pieces an authorized coin manufacturer (i.e., mint) produces. Some pieces, like the American Silver Eagle, have millions of coins in circulation; high-scarcity coins may only have a few dozen left in…
Tyson Foods Misses Profit Estimates as Lower Beef Prices Bite; Shares Fall
Tyson Foods Inc. widely missed Wall Street estimates for quarterly profit on Monday and cut its expectations for operating margins this year in the face of falling beef prices and easing demand for pork. The results sent the U.S. meatpacker’s shares down more than 5 percent in premarket trade. A year earlier Tyson’s profits had…
Wall Street Opens Lower on Fed Fears; Tyson Foods Slides
U.S. stock indexes edged lower on Monday with Tyson Foods falling on disappointing quarterly results, while investors re-assessed their predictions on when the U.S. Federal Reserve would start cutting rates. The Dow Jones Industrial Average fell 51.57 points, or 0.15 percent, at the open to 33,874.44. The S&P 500 opened lower by 16.91 points, or…
Nestle to Hike Food Prices Further in 2023, CEO Says
February 6, 2023
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Business & MarketsCompanieseconomic policieseconomyEuropeinflationInternationalMarketsNestlepricesWorld
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Nestle will have to raise prices of its food products further this year to offset higher production costs that it has yet to fully pass on to consumers, Chief Executive Mark Schneider told a German newspaper. The increases will not be as steep as they were in 2022, but “we have some catching up to…
Dollar Surges on Robust US Jobs Data, While Lira, Yen Slump
LONDON—The dollar surged to a three-week high against the euro on Monday, with traders expecting the U.S. Federal Reserve to lift its benchmark rate above 5 percent to squeeze inflation after data showed the labor market remains strong. An earthquake in central Turkey and northwest Syria and a strong U.S. dollar added pressure on emerging…
Oil Prices Edge Higher, Interest Rate Outlook Limits Gains
February 6, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices inched higher on Monday, recovering from an 8 percent fall last week to more than three-week lows, driven by expectations slower growth in major economies may limit fuel use. Brent crude futures rose 17 cents, or 0.2, to $80.11 a barrel at 0946 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped…
Global Shares Slide as Interest-Rate Risk Rises and Geopolitics Heat Up
February 6, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global shares tumbled on Monday, after a run of upbeat economic data suggested interest rates will have to rise further and stay higher for longer, while a stronger dollar and political turbulence hit risk-linked assets. Last week’s blockbuster U.S. jobs report sent investors scurrying to load up on dollars to the detriment of emerging market…
Recession Signal as Consumers Struggle to Pay Bills
I recently discussed the recession signals from the National Federation Of Independent Business (NFIB) and the inverted yield curve. “As in 2019, we see many of the same recession signals from the NFIB survey again combined with a high percentage of yield curve inversions. Notably, out of the ten yield spreads we track, which are…
Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 3)
February 4, 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 $2.49 to $73.39 a barrel Friday. Brent crude for April delivery fell $2.23 to $79.94 a barrel. Wholesale gasoline for March delivery fell 13 cents to $2.32 a gallon. March heating oil fell 12 cents $2.78 a gallon. March natural gas fell 5 cents to $2.41 per…
Regeneron Quarterly Profit Plunged to 46 Percent as Eye Drug Sales Drop, COVID Drug Sales Dry Up
Regeneron Pharmaceutical’s fourth-quarter profit was negatively impacted after sales of its COVID antibody cocktail dried up and lackluster sales of its blockbuster eye drug, Eylea, but sales of its eczema drug Dupixent helped recover some losses. The pharmaceutical company’s quarterly report, released on Feb. 3, saw earnings initially fall by 46 percent due to reports of…
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