LONDON—Eurozone business activity made a surprise return to modest growth in January, adding to signs the downturn in the bloc may not be as deep as feared and that the currency union may escape recession, a survey showed. S&P Global’s flash Composite Purchasing Managers’ Index (PMI), seen as a good gauge of overall economic health,…
Dollar Stuck Near 9-month Low Versus Euro as Yen Bounces
LONDON—The dollar hovered near a nine-month low against the euro and surrendered recent gains against the yen on Tuesday, as traders weighed the risks of a U.S. recession against the outlook for Federal Reserve monetary policy. Eurozone data on Tuesday reinforced the view that the economy is surviving a winter of intense price pressures reasonably…
Oil Steady as China Reopening Is Balanced by Economic Concerns
January 24, 2023
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LONDON—Crude oil prices were steady on Tuesday as concerns about a global economic slowdown and expected build in U.S. oil inventories were offset by hopes of a fuel demand recovery from top importer China. Brent crude was down 30 cents, or 0.3 percent, at $87.89 a barrel by 1010 GMT. U.S. West Texas Intermediate (WTI)…
World Shares Mixed After Tech Gains Power Wall Street Rally
January 24, 2023
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BANGKOK—World stocks were mixed Tuesday after a Wall Street rally driven by heavy buying of tech shares as investors bet the Federal Reserve will trim its rate hikes as it makes headway in tamping down inflation. Germany’s DAX edged 0.1 percent lower to 15,086.68 while the CAC 40 in Paris gained 0.2 percent to 7,024.63….
Closing Prices for Crude Oil, Gold and Other Commodities (Jan. 23)
January 23, 2023
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Benchmark U.S. crude oil for March delivery fell 2 cents to $81.62 a barrel Monday. Brent crude for March delivery rose 56 cents to $88.19 a barrel. Wholesale gasoline for February delivery rose 5 cents to $2.70 a gallon. February heating oil rose 8 cents $3.55 a gallon. February natural gas rose 27 cents to…
Businesses See Lower Odds US in or Entering Recession, NABE Says
The likelihood that the United States is already in recession or will fall into one this year has dropped over the past three months to 56 percent from a nearly two-thirds possibility, according to a survey on business conditions released on Monday. Approximately 53 percent of those polled by the National Association of Business Economics…
Why Buy Gold? Benefits of Gold Investments
Gold is historically one of the most important precious metals in the world and is well known for its value and prestige. Gold is also an appealing investment vehicle, but as with any investment, research is essential. Understanding the benefits and risks of buying gold will help you decide whether it’s the right option. Why…
NFIB Survey Suggests a Recession Is Coming
Commentary The most recent survey from the National Federation of Independent Business (NFIB) is sending a strong signal of an economic recession. In 2019, the NFIB survey, combined with an inverted yield curve, suggested an impending recession. In 2020, those signals became a reality. As in 2019, we see many of the same warning signals…
Wall Street Edges Up Ahead of Busy Earnings Week, Salesforce Rises
U.S. stock indexes opened higher at the start of another big week for corporate earnings, with Salesforce leading gains on Monday following news that Elliott Management had acquired a stake. The Dow Jones Industrial Average rose 64.07 points, or 0.19 percent, at the open to 33,439.56. The S&P 500 opened higher by 5.53 points, or…
Japan Warns of Dire Finances as BOJ Struggles to Contain Yields
TOKYO—Japan’s finances are becoming increasingly precarious, Finance Minister Shunichi Suzuki warned on Monday, just as markets test whether the central bank can keep interest rates ultra-low, allowing the government to service its debt. The government has been helped by near-zero bond yields, but bond investors have recently sought to break the Bank of Japan’s (BOJ)…
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