Benchmark U.S. crude oil for March delivery fell $1.49 to $80.13 a barrel Tuesday. Brent crude for March delivery fell $2.06 to $86.13 a barrel. Wholesale gasoline for February delivery fell 5 cents to $2.65 a gallon. February heating oil fell 12 cents $3.43 a gallon. February natural gas fell 19 cents to $3.26 per…
Closing Prices for Crude Oil, Gold and Other Commodities (Jan. 24)
January 24, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Stocks Drift on Wall Street as Earnings Reports Rev Up
Wall Street’s major stock indexes closed mixed Tuesday, as more big companies delivered their financial results for the last three months of 2022 amid lingering concerns about a potential recession. The S&P 500 slipped less than 0.1 percent, its second loss in three trading days. The Dow Jones Industrial Average rose 0.3 percent and the…
Gasoline Prices Surge as Consumer Demand Rises in January
January 24, 2023
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Business & MarketsCompaniescrudeeconomic policieseconomyenergygas pricesinflationMarketsOil RefineriesUSWorld
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Rising U.S. consumer demand, combined with a rise in the price of crude oil, has led to an increase in gas prices at the pump. The national average price for a regular gallon of gas was at $3.46 on Jan. 24, according to data from the American Automobile Association (AAA). The auto association attributed much of…
3M to Cut 2,500 Manufacturing Jobs as US Economic Outlook Sours
The large U.S. manufacturer 3M said that it intends to cut more than 2,000 jobs as the economic outlook signals more turbulence this year. The St. Paul, Minnesota-based industrial and consumer goods maker had about 95,000 employees at the end of 2021, according to securities filings. The company’s CEO, Mike Roman, said he plans to cut…
J&J Tops 4th-Quarter Earnings Forecasts as Profit, Revenue Slip
Johnson & Johnson beat earnings expectations in the final quarter of 2022 even as a strong dollar and sinking COVID-19 vaccine sales hurt revenue. The health care giant also debuted on Tuesday a better-than-expected 2023 earnings forecast. J&J said fourth-quarter earnings slipped 26 percent to $3.52 billion and revenue declined 4.4 percent to $23.71 billion….
Wall Street Opens Lower as Earnings Roll In, Chipmakers Retreat
U.S. stock indexes opened lower on Tuesday, as corporate reports from bellwethers including 3M, Johnson & Johnson, and GE pushed earnings season into high gear, while chip companies retreated after bouncing in the previous session. The Dow Jones Industrial Average fell 184.84 points, or 0.55 percent, at the open to 33,444.72. The S&P 500 opened…
Leading US Economic Indicator Falls for Tenth Straight Month, Suggesting Recession Soon
A key indicator that gauges the health of the American economy fell for the tenth straight month in December, exceeding forecasts and suggesting a potential recession in the months ahead. The Conference Board Leading Economic Index (LEI) for the United States declined by 1 percent, to 110.5 in December, following a 1.1 percent decrease in…
Leading US Economic Indicator Falls for 10th Straight Month, Suggesting Recession Soon
A key indicator that gauges the health of the American economy fell for the tenth straight month in December, exceeding forecasts and suggesting a potential recession in the months ahead. The Conference Board Leading Economic Index (LEI) for the United States declined by 1 percent, to 110.5 in December, following a 1.1 percent decrease in…
Japan Higher Rates Expand Debt Pile, Balanced Budget Seen Delayed Again
January 24, 2023
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Asia & PacificBusiness & Marketseconomic policieseconomyfiscalinflationJapanMarketsrecessionstocksWorld
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TOKYO—Japan raised its estimates for long-term interest rates over the coming few years in government’s twice-yearly fiscal projections issued on Tuesday, following the central bank’s decision last month to allow 10-year bond yields to move more widely. Higher rates will test the government’s ability to service the industrial world’s heaviest debt burden at more than…
Japan’s Factory Activity Extends Declines for 3rd Straight Month: PMI
TOKYO—Japan’s manufacturing activity contracted for a third straight month in January as export weakness persisted amid a worsening global outlook, a corporate survey showed on Tuesday. The au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) was at a seasonally adjusted 48.9 in January, unchanged from the final reading in the previous month. The…
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