The S&P 500 and the Nasdaq opened lower on Tuesday as concerns about interest rate hikes persisted after Federal Reserve Chair Jerome Powell’s comments did not provide further clarity on the monetary policy outlook. The S&P 500 opened lower by 3.52 points, or 0.09 percent, at 3,888.57, while the Nasdaq Composite dropped 27.93 points, or…
BMW Sales Recover in 4th Quarter as Supply Chain Issues Ease
BERLIN—BMW fourth-quarter group sales rose 10.6 percent, the carmaker said on Tuesday, helped by easing supply chain bottlenecks in a year that has been plagued by war in Ukraine and lockdowns in China. Full-year deliveries were down 4.8 percent, with Europe and China hardest hit by supply chain troubles that curbed output, particularly in the…
Dollar Stabilizes Near 7-Month Lows
SINGAPORE/LONDON—The dollar steadied near its softest in seven months against the euro on Tuesday after more hawkish comments overnight from two U.S. Federal officials helped it to stem its recent losses ahead of remarks by Fed chair Jerome Powell due later in the day. The euro was at $1.0736, little changed on the day, trading…
Oil Steady as Market Awaits Clarity on Fed Rate Hike
January 10, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were stable on Tuesday as the market awaited the Federal Reserve’s plans for rate hikes to gauge the impact on the economy and fuel demand. Brent futures for March were up 15 cents, or 0.19 percent, to $79.80 a barrel by 1036 GMT. U.S. West Texas Intermediate crude rose 32 cents, or 0.43…
Global Shares Ease After Fed Officials Dent Optimism
January 10, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global shares eased on Tuesday as investors took profit on the gains from the past two weeks after comments from two Federal Reserve officials injected a note of caution over the U.S. rate outlook, knocking equities, commodities, and other risk assets. The MSCI All-World index eased 0.1 percent, but remained in sight of Monday’s three-week…
Bed, Bath & Beyond Rebounds in Meme-Stock Rally
NEW YORK—Shares of Bed, Bath & Beyond Inc. rebounded sharply in high volume trading on Monday amid speculation by retail investors that the struggling home goods seller might be a potential acquisition target. Shares of the company were last up 35 percent at $1.77, on track for their biggest one-day percentage surge since Aug. 8….
Stocks End up Mixed on Wall Street After Early Gains Fade
NEW YORK—U.S. stocks were mixed Monday at the start of a week with a few events that could shake markets, including updates on inflation and the health of corporate profits. The S&P 500 dipped 0.1 percent after surrendering an early gain of 1.4 percent in its first trading after closing out its first winning week…
Closing Prices for Crude Oil, Gold and Other Commodities (Jan. 9)
January 9, 2023
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Benchmark U.S. crude oil for February delivery rose 86 cents to $74.63 a barrel Monday. Brent crude for March delivery rose $1.08 to $79.65 a barrel. Wholesale gasoline for February delivery rose 5 cents to $2.29 a gallon. February heating oil rose 4 cents to $3.04 a gallon. February natural gas rose 20 cents to…
Over 100 Parties Want to Buy Parts of FTX
January 9, 2023
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auctionbankrupcyBusiness & MarketsCompaniescryptocurrencyeconomyFTXJudiciaryMarketsMedia & Big TechSam Bankman-FriedUS
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More than 100 interested parties want to buy part of the failed crypto exchange FTX. According to court documents reviewed by Business Insider, lawyers handling the FTX’s Chapter 11 bankruptcy case are planning to auction off four of the companies previously run by disgraced former CEO Sam Bankman-Fried. Bankman-Fried currently faces up to 115 years…
Swiss National Bank Posts Record $143 Billion Loss in 2022
ZURICH—The Swiss National Bank posted an annual loss of 132 billion Swiss francs ($142.67 billion) in 2022, it said on Monday, the biggest loss in its 115-year history. The central bank plunged into the red as falling stock and fixed-income markets hit the value of its share and bond portfolio, while the appreciation of the…
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