U.S. stock indexes opened lower on Wednesday as investors cautiously awaited the Federal Reserve’s decision on interest rates later in the day, while chipmaker Advanced Micro Devices climbed on an upbeat outlook. The Dow Jones Industrial Average fell 46.44 points, or 0.14 percent, at the open to 34,039.60. The S&P 500 opened lower by 6.53…
Wall Street Opens Lower Ahead of Fed Decision; AMD Rises on Outlook
Dollar Slips Ahead of Fed Rate Decision
LONDON—The dollar weakened slightly against the euro ahead of Wednesday’s eagerly awaited Federal Reserve policy decision, with investors hoping the U.S. central bank will signal an end to interest rate tightening cycle. The euro, meanwhile, was barely moved by data showing inflation in the bloc had eased for a third straight month in January. After…
Oil Stable as Market Awaits Fed, OPEC Decisions
February 1, 2023
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LONDON—Oil prices were broadly stable as the market is looking towards a meeting of OPEC and its allies as well as a Federal Reserve rate decision and U.S. government data on crude and fuel stockpiles on Wednesday. Brent crude futures dipped 11 cents, or 0.1 percent, to $85.35 a barrel at 0949 GMT. West Texas…
Stocks Firm, Dollar Retreats Ahead of Fed Decision
February 1, 2023
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LONDON/SINGAPORE—Global stocks edged up on Wednesday as signs of slowing U.S. wage growth supported expectations that the Federal Reserve could signal an end to interest-rate hikes at its meeting later in the day. Wall Street indexes had rallied, as had bonds to a lesser extent, while the dollar gave up gains overnight when the Fed’s…
US Consumer Confidence Slips as Recession Fears Grow
January 31, 2023
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American consumer confidence has begun to stumble at the start of the year, as recession fears grow. The Conference Board, a business research group, reported on Jan. 31 that its consumer confidence index slightly fell 107.1 in January, down from 109 in December, which was the highest reading since April. Households appear to be a bit…
Wall Street Climbs to Add More to Its Strong January
NEW YORK—Wall Street closed out a strong January with more gains on Tuesday, ahead of what many investors hope will be one of the Federal Reserve’s last hikes to interest rates for a while. Markets got a boost after a report showed that that growth for workers’ pay and benefits slowed during the end of…
Closing Prices for Crude Oil, Gold and Other Commodities (Jan. 31)
January 31, 2023
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Benchmark U.S. crude oil for March delivery rose 97 cents to $78.87 a barrel Tuesday. Brent crude for March delivery fell 41 cents to $84.49 a barrel. Wholesale gasoline for February delivery rose 4 cents to $2.54 a gallon. February heating oil rose 7 cents $3.18 a gallon. March natural gas was unchanged at $2.68…
Spotify Shares Jump on Bullish Outlook as More Users Tune In
STOCKHOLM/LOS ANGELES—Spotify Technology SA told investors Tuesday it would tighten spending and work to become efficient after a year of investments in technology and content. Chief Executive Daniel Ek said the “macro environment” changed dramatically over the course of last year, setting the stage for belt-tightening. “In hindsight, I probably got a little carried away…
Central Banks Bought the Most Gold Since 1967 Last Year, WGC Says
January 31, 2023
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LONDON—Central banks added a whopping 1,136 tonnes of gold worth some $70 billion to their stockpiles in 2022, by far the most of any year since 1967, the World Gold Council (WGC) said on Tuesday. The data underline a shift in attitudes to gold since the 1990s and 2000s, when central banks, particularly those in…
Eurozone Economy Unexpectedly Grows in 4th Quarter but Weak 2023 Looms
FRANKFURT—The eurozone eked out growth in the final three months of 2022, managing to avoid a recession even as sky-high energy costs, waning confidence, and rising interest rates took a toll on the economy that is likely to persist into this year. Gross domestic product across the currency bloc expanded by a tiny 0.1 percent…
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