Wall Street’s main indexes opened higher on Wednesday as focus shifted to a key inflation reading due later in the week, which would provide clues on how aggressive the Federal Reserve’s monetary tightening could be this year. The Dow Jones Industrial Average rose 49.93 points, or 0.15 percent, at the open to 33,754.03. The S&P…
US Dollar Holds Firm Ahead of US Inflation Data
LONDON—The U.S. dollar held its ground on Wednesday as traders waited for this week’s U.S. consumer price data to see whether it will confirm that inflation is in retreat. The euro flattened against the dollar after a European Central Bank policymaker said the cycle of interest rate increases was approaching its end, while ECB staff…
Oil Prices Broadly Steady Amid Rising US Stockpiles
January 11, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were broadly steady on Wednesday as market participants were pulled in different directions by an unexpected build in U.S. crude and fuel inventories, global economic uncertainty, and China reopening its economy. Moving in and out of negative territory, Brent crude futures were up 53 cents, or 0.7 percent, at $80.63 a barrel by…
Global Stocks Mostly Rise as US Inflation Report Looms
January 11, 2023
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TOKYO—Global shares were mostly higher Wednesday, boosted by a rally on Wall Street ahead of some potentially market-moving reports due later in the week. France’s CAC 40 rose nearly 0.2 percent in early trading to 6,879.36, while German’s DAX added 0.3 percent to 14,813.45. Britain’s FTSE 100 gained 0.2 percent to 7,710.23. The future for…
Stocks Rise, Bond Yields Rise With December’s Upcoming Price Data in Focus
NEW YORK, LONDON—Wall Street’s major stock averages closed higher on Tuesday, steadying in the afternoon after early volatility while Treasury yields rose as investors waited anxiously for U.S. inflation data due later in the week. The U.S. dollar was little changed versus the euro and other major currencies, hovering close to its weakest level in…
Closing Prices for Crude Oil, Gold and Other Commodities (Jan. 10)
January 10, 2023
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Benchmark U.S. crude oil for February delivery rose 49 cents to $75.12 a barrel Tuesday. Brent crude for March delivery rose 45 cents to $80.10 a barrel. Wholesale gasoline for February delivery rose 4 cents to $2.33 a gallon. February heating oil rose 10 cents to $3.24 a gallon. February natural gas fell 27 cents…
US Wholesale Inventories Rise Strongly in November as Demand Falters
WASHINGTON—U.S. wholesale inventories increased strongly in November, lifting the inventories-to-sales ratio to the highest level in nearly 2–1/2 years, as higher borrowing costs depressed sales. The Commerce Department said on Tuesday that wholesale inventories rose 1.0 percent as previously reported last month. Stocks at wholesalers increased 0.6 percent in October. Economists polled by Reuters had…
Mercedes-Benz Sells 2.05 Million Passenger Cars in 2022
BERLIN—Mercedes-Benz delivered 2.05 million passenger cars in 2022, the company said on Tuesday, down 1 percent on the previous year as the carmaker felt the impact of COVID-19 measures and bottlenecks. Still, fourth-quarter sales rose 17 percent as logistics and supply chain bottlenecks eased, and battery-electric sales grew 124 percent over the course of the…
US Imports of Containerized Goods Retreat to Pre-Pandemic Level
January 10, 2023
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LOS ANGELES—U.S. imports of goods in ocean shipping containers in December fell to levels approaching those last seen before the COVID-19 pandemic, a new report said on Tuesday. Demand for kitchen appliances, furniture, big-screen TVs, apparel, and other retail goods softened late last year as record inflation bit into disposable income and consumers shifted spending…
Investor Peter Schiff Predicts More Pain in 2023
Peter Schiff, chief economist and global strategist of Euro Pacific Asset Management, is famous for his bearish takes. A falling stock market, a deep recession, and a sovereign debt crisis were among his predictions in the past. As the first trading week in January came to a close, The Epoch Times sat down with Schiff…
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