Benchmark U.S. crude oil for March delivery rose 2 cents to $80.15 a barrel Wednesday. Brent crude for March delivery fell 1 cent to $86.12 a barrel. Wholesale gasoline for February delivery fell 6 cents to $2.59 a gallon. February heating oil fell 7 cents $3.36 a gallon. February natural gas fell 19 cents to…
Closing Prices for Crude Oil, Gold and Other Commodities (Jan. 25)
West Virginia Targets Proxy Voting in Fight Over ESG
In a Jan. 25 interview with The Epoch Times, West Virginia Treasurer Riley Moore outlined a new state bill intended to ensure that proxy voting for shareholders isn’t a vehicle for environmental, social, and governance (ESG) principles that undercut the interest of those shareholders. “ESG is obviously a nonsensical investment strategy that has been distorting…
Wall Street Opens Lower as Weak Earnings Updates Dent Sentiment
Wall Street’s main indexes opened lower on Wednesday as downbeat quarterly updates from Microsoft and Boeing added to fears of a recession, with technology shares leading the declines. The Nasdaq Composite dropped 187.74 points, or 1.66 percent, to 11,146.53 at the opening bell. The Dow Jones Industrial Average fell 195.60 points, or 0.58 percent, at…
US Business Equipment Borrowings Grow 9 Percent in December: ELFA
U.S. companies borrowed 9 percent more in December to finance equipment investments compared with a year earlier, industry body Equipment Leasing and Finance Association (ELFA) said on Tuesday. The companies signed up for $12.9 billion in new loans, leases, and lines of credit last month, compared with $11.8 billion a year earlier, according to ELFA….
German Business Morale Brightens Further in January: Ifo
BERLIN—German business morale brightened in January as Europe’s largest economy started the new year with easing inflation and an improved outlook, a survey said on Wednesday. The Ifo institute said its business climate index rose to 90.2, in line with consensus according to a Reuters poll of analysts and up from a reading of 88.6…
Gold Slides as Dollar Steadies, Traders Eye US Data
Gold prices slipped on Wednesday from a nine-month peak hit in the previous session as the dollar steadied and investors squared positions ahead of U.S. fourth-quarter economic growth figures. Spot gold was down 0.6 percent to $1,925.02 per ounce at 1152 GMT, after hitting its highest since late April on Tuesday. U.S. gold futures dropped…
Oil Slips as Recession Fears Offset Market Optimism for China’s Demand Recovery
LONDON—Oil slipped on Wednesday, adding to a decline in the previous session, as global recession worries edged out optimism for a demand recovery in China. Crude has rallied in 2023, with global benchmark Brent crude topping $89 a barrel this week for the first time since early December, on the ending of China’s COVID-19 controls…
Global Shares Mixed, China Markets Closed for Holidays
TOKYO—Global shares were mixed Wednesday after Wall Street indexes finished little changed as investors awaited earnings results from major global companies. The U.S. government will release economic growth data for the fourth quarter on Thursday. Economists expect the economy expanded at an annual pace of less than 1 percent, down from 1.9 percent in the…
Fed Needs Mortgage-Backed Securities Exit Plan ‘Earlier Than Later,’ Kansas City Fed President Says
WASHINGTON—Kansas City Federal Reserve President Esther George has urged her colleagues to come to terms “earlier than later” on a plan for the U.S. central bank to exit the mortgage-backed securities (MBS) market and be more explicit on how bond purchases will figure into future monetary policy. “You can’t just wake up one day and…
Musk Testifies Over ‘Funding Secured’ Tweet in Tesla Investors’ Class Action Lawsuit
A lawsuit about a tweet that Elon Musk made years ago continues, concluding its fifth day on Tuesday. Musk testified for roughly three more hours in a federal trial over a class-action lawsuit alleging he misled Tesla shareholders with a tweet from Aug. 7, 2018. He defended himself against claims that he illegally manipulated Tesla’s…
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