Wall Street’s main indexes opened lower on Thursday after further evidence of a strong labor market spurred worries that the Federal Reserve could keep raising interest rates for longer than expected. The Dow Jones Industrial Average fell 78.05 points, or 0.23 percent, at the open to 33,191.72. The S&P 500 opened lower by 13.23 points,…
Dollar Wavers After Fed Minutes Offer Few Surprises
LONDON/SINGAPORE—The dollar was roughly flat in choppy trading on Thursday after the release of the latest Federal Reserve minutes. Details of the discussion from the central bank’s December policy meeting, released on Wednesday, showed policymakers remain focused on curbing inflation and do not envisage interest rate cuts in 2023. Analysts said the minutes were broadly…
Oil Rebounds After Biggest Drop in Decades at Start of Year
January 5, 2023
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LONDON—Oil rebounded over 2 percent on Thursday after posting the biggest two-day loss for the start of a year in three decades with the shutdown of a U.S. fuel pipeline providing support, though economic concerns capped gains. Big declines in the previous two days were driven by worries about a global recession, especially since short-term…
Global Shares Rise as Sentiments Get Boost From Fed, US Jobs
January 5, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares mostly rose Thursday following a rally on Wall Street as investors assessed minutes from the Federal Reserve’s latest meeting of policymakers and welcomed encouraging data on U.S. jobs. France’s CAC 40 lost 0.6 percent to 6,736.01 in early trading, while Germany’s DAX fell 0.4 percent to 14,438.94. Britain’s FTSE 100 edged up 0.1…
Bankrupt Cryptocurrency Platform Celsius Owns Rights to Most Customer Digital Assets: Judge
January 5, 2023
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A U.S. bankruptcy judge ruled on Jan. 4 that digital assets deposited into the cryptocurrency lending platform Celsius Network’s Earn program belong to the now-bankrupt company’s estate and not individual users. Celsius filed for Chapter 11 bankruptcy in July 2022 amid a liquidity crisis. At the time, the company had approximately 600,000 accounts that earned interest as part…
Amazon Announces 18,000 Job Cuts
Amazon informed staff on Wednesday that it plans to cut 18,000 jobs amid slowing consumer and corporate spending. The cuts include workforce reductions already announced in November. The company had previously flagged that it would make additional cuts this year. “Today, I wanted to share the outcome of these further reviews, which is the difficult decision…
Stocks End Higher After Fed Meeting Minutes, Strong Job Data
Stocks on Wall Street closed broadly higher Wednesday after wavering for much of the day as investors weighed the minutes from the Federal Reserve’s latest meeting of policymakers and welcomed encouraging data on job openings. The major indexes rallied following a government report showing that job openings increased more than expected in November. Stocks then…
Apple Loses $1 Trillion in Market Value in a Year
January 4, 2023
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Apple has lost $1 trillion in market value over the last year, as the tech company faces its worst decline in months. The tech giant’s market cap dipped below $2 trillion on Jan. 3 for the first time since May 2021, one year to the day after it became the first publicly traded Silicon Valley company to…
Apple Looses $1 Trillion in Market Value in a Year
January 4, 2023
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Apple IncBusiness & MarketsCompanieseconomyInvestmentmarket valueMarketsMedia & Big TechTechUSUS News
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Apple has lost $1 trillion in market value over the last year, as the tech company faces its worst decline in months. The tech giant’s market cap dipped below $2 trillion on Jan. 3 for the first time since May 2021, one year to the day after it became the first publicly traded Silicon Valley company to…
Closing Prices for Crude Oil, Gold and Other Commodities (Jan. 4)
January 4, 2023
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Benchmark U.S. crude oil for February delivery fell $4.09 to $72.84 a barrel Wednesday. Brent crude for March delivery fell $4.26 to $77.84 a barrel. Wholesale gasoline for February delivery fell 10 cents to $2.26 a gallon. February heating oil fell 12 cents to $2.97 a gallon. February natural gas rose 18 cents to $4.17…
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