LONDON—Oil rose on Monday after top exporters Saudi Arabia and Russia announced supply cuts for August, overshadowing concern over a global economic slowdown and the potential for further increases to U.S. interest rates. Saudi Arabia on Monday said it would extend its voluntary cut of one million barrels per day (bpd) for another month to…
World Stocks Firm, Nikkei Closes at 33-year Peak
July 3, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stocks rose to a two-week peak on Monday, with Japan’s Nikkei closing at its highest level in 33 years, drawing support from signs that cooling inflation might temper central banks’ appetite to further hike rates. European shares rallied, while U.S. equity futures pointed to a positive open for Wall Street which closes early ahead…
Tesla Beats 2nd-Quarter Delivery Estimates as Price Cuts Pay Off
Tesla Inc. on Sunday said it delivered a record number of vehicles in the second quarter, topping market estimates as price cuts and U.S. federal credits helped make its electric vehicles more affordable. The Elon Musk-led company handed 466,140 vehicles in the April to June period, up 10 percent from the preceding quarter, and 83…
Apple’s Market Value Ends Above $3 Trillion for First Time
Apple Inc’s stock market value ended a trading session above $3 trillion for the first time on Friday, lifted by signs of improving inflation and bets that the iPhone maker will successfully expand into new markets. Shares of the world’s most valuable company jumped 2.3 percent to $193.97, giving it a market capitalization of $3.05…
Stock Market Today: Another Rally Sends Wall Street Nearly 16 Percent Higher for the First Half of the Year
NEW YORK—Wall Street blazed to another rally Friday to close a winning week, month and first half of the year after reports suggested pressure on inflation may be easing. The S&P 500 climbed 1.2 percent to reach its highest level since April 2022. The Dow Jones Industrial Average rose 285 points, or 0.8 percent, and…
Closing Prices for Crude Oil, Gold, and Other Commodities (June 30)
June 30, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for August delivery rose 78 cents to $70.64 a barrel Friday. Brent crude for August delivery rose 56 cents to $74.90 a barrel. Wholesale gasoline for July delivery rose 2 cents $2.63 a gallon. July heating oil rose 3 cents to $2.45 a gallon. August natural gas rose 10 cents to…
How Major US Stock Indexes Fared June 30
Wall Street rallied to cap a winning week, month and first half of the year after reports suggested pressure on inflation may be easing. The S&P 500 jumped 1.2 percent Friday to reach its highest level since April 2022. It surged 15.9 percent in the first half of the year. The Dow rose 0.8 percent…
American Banks Closed 273 Branch Locations in May
June 30, 2023
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bank closuresBusiness & MarketsCompanieseconomyInvestmentMarketsonline bankingpersonal financeRegional & State NewsRegional NewsState NewsU.S. BankUSWells Fargo
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At least 273 bank locations closed across the United States in May, while 46 opened that month. Many major banks have announced that they’re closing down branches in 2023, as more and more customers are making deposits via their phones or to keep tabs on their balances, all without leaving their homes. Others still rely on…
Average Long-Term US Mortgage Rate Rises to 6.71 Percent in First Increase After 3 Straight Drops
June 30, 2023
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Business & MarketsCaliforniaeconomyMarketsmortgageratesRegional & State NewsSouthern CaliforniaState NewsUSUS News
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LOS ANGELES—The average long-term U.S. mortgage rate rose this week, snapping a three-week pullback after reaching a high for the year in early June. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year home loan rose to 6.71 percent from 6.67 percent last week. A year ago, the rate averaged…
An Inflation Gauge Tracked by the Federal Reserve Falls to Its Lowest Point in 2 Years
WASHINGTON—An inflation index that is closely monitored by the Federal Reserve tumbled last month to its lowest level since April 2021, pulled down by lower gas prices and slower-rising food costs. At the same time, consumers barely increased their spending last month, boosting it just 0.1 percent, after a solid 0.6 percent gain in April….
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