Tag: Markets

Japan Reports Inflation Hit 4 Percent, 41-year High in December

January 20, 2023
Asia & PacificBusiness & Marketseconomic policieseconomyenergyinflationJapanMarketsWorld
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TOKYO—Japan’s consumer inflation rate hit a 41-year high of 4 percent in December, as prices for everything from burgers to gas surged. That rate is still relatively low, compared to some other nations, including the U.S. Japan, the world’s third-largest economy, has been fending off deflation, or chronically falling prices, for decades. The last time…

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Ark’s Wood Remains Bullish on Tesla, Says Oil Stock Rally ‘Defying Logic’

January 20, 2023
arkBusiness & MarketsCompanieseconomyenergyGold and CommoditiesMarketsteslaUS
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NEW YORK—Star stock picker Cathie Wood of Ark Invest suggested the rally in energy stocks will soon end and reiterated her bullish view on electric vehicle maker Tesla Inc. in a webinar on Thursday. Wood, whose $6.8 billion ARK Innovation Fund is up 15 percent for the year to date, was badly bruised last year…

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Fed’s Williams Says Fed Needs More Rate Rises to Cool Inflation

January 20, 2023
Business & Marketseconomic policieseconomyFedinflationMarketsrecessionUSUS NewsWilliams
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NEW YORK—Federal Reserve Bank of New York President John Williams said on Thursday the U.S. central bank has more rate hikes ahead and sees signs inflationary pressures might be starting to cool off from torrid levels. “With inflation still high and indications of continued supply-demand imbalances, it is clear that monetary policy still has more…

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Wall Street Opens Mixed and Is Headed for a Losing Week

January 20, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsMedia & Big TechrecessionstocksUS
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NEW YORK—Stocks are off to a mixed start on Wall Street, keeping the market on track for a losing week after rallying for the first two weeks of the year. The S&P 500 was just barely higher in the early going Friday, and the tech-heavy Nasdaq composite was up 0.4 percent. The Dow slipped 0.1…

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Dollar Edges Higher as Economic Storm Clouds Gather

January 20, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar hovered around seven-month lows on Friday as a slew of data feeds concern among investors that an economic slowdown could be unavoidable, while a bout of profit-taking forced the yen to retreat. The dollar edged up 0.2 percent against a basket of other major currencies to 102.17, holding narrowly above Wednesday’s seven-month lows….

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Cryptocurrency Lender Genesis Files for Bankruptcy Months After FTX Collapse

January 20, 2023
Business & MarketsCompaniescryptocurrencyeconomyFTXgenesisInvestmentMarketsUSUS News
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Cryptocurrency lender Genesis Global filed for bankruptcy on Jan. 19, making it the latest company to do so following the collapse of FTX in November. The lender announced it had filed for Chapter 11 bankruptcy protection in a press release, stating that the move was part of “strategic actions to achieve a global resolution to maximize value…

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Oil Heads for 2nd Week of Gains on China Demand Outlook

January 20, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rose on Friday and was heading for a second straight weekly gain, spurred largely by brightening economic prospects for China and resulting expectations of a boost to fuel demand in the world’s second-biggest economy. The lifting of COVID-19 restrictions in China is set to increase global demand to a record high this year, the…

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World Markets Rise After Recession Fears Pull Wall Street Lower

January 20, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BEIJING—Shares were higher in Europe and Asia on Friday after Wall Street declined on worries that the U.S. economy is headed for recession. U.S. futures were little changed while oil prices advanced. Traders worry the Federal Reserve and central banks in Europe and Asia that have raised interest rates to cool economic activity and inflation…

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Closing Prices for Crude Oil, Gold and Other Commodities (Jan. 19)

January 19, 2023
Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for February delivery rose 85 cents to $80.33 a barrel Thursday. Brent crude for March delivery fell $1.18 to $86.16 a barrel. Wholesale gasoline for February delivery rose 8 cents to $2.60 a gallon. February heating oil rose 12 cents $3.38 a gallon. February natural gas fell 3 cents to $3.28…

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Jamie Dimon Says That Interest Rates Will Rise Above 5 Percent Because of ‘Underlying Inflation’

January 19, 2023
Business & Marketseconomic policieseconomyFederal Reserveinflationinterest ratesJamie DimonMarketsPolicies & ImpactsrecessionUS
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JPMorgan Chase CEO Jamie Dimon believes U.S. interest rates will likely rise above 5 percent because of “underlying Inflation.” This is higher than what the Federal Reserve is currently projecting, as inflation remains stubbornly high. The Fed has raised its benchmark interest rate in December to a targeted range of 4.25–4.5 percent, the highest level in 15 years, in order…

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