SINGAPORE—Coal and natural gas markets were poised on Friday to end 2022 with strong gains after a global energy crisis triggered by the Russia–Ukraine war stoked prices, and tighter supplies expected in 2023 could fuel more gains. Industrial metals, iron ore and rubber are on track to finish in negative territory, pushed down in 2022…
Coal, Gas Lead 2022 Commodities Rally; Recession Fears Greet New Year
Wall Street Opens Lower on Last Trading Day of Torrid Year
Wall Street’s main indexes opened lower on the final trading day of a roller-coaster year marked by aggressive interest-rate hikes to curb inflation, the Russia-Ukraine war, and recession fears. The Dow Jones Industrial Average fell 99.19 points, or 0.30 percent, at the open to 33,121.61. The S&P 500 opened lower by 20.22 points, or 0.53…
US Dollar Index Set for Biggest Annual Gain Since 2015
LONDON/SINGAPORE—The dollar was on track for its biggest annual gain since 2015 on Friday, in the last trading day of a year dominated by Federal Reserve rate hikes and fears of a sharp slowdown in global growth. European stock indexes were in the red in early trading on Friday. Asian equities had risen earlier in…
Oil Set to End Turbulent 2022 With Second Annual Gain
December 30, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rose on Friday and was on track for a second straight annual gain in a volatile year marked by tight supplies because of the Ukraine war and weakening demand from the world’s top crude importer, China. Crude surged in March with global benchmark Brent reaching $139.13 a barrel, the highest since 2008, after Russia’s…
World Stocks Eye Glum 2022 While Dollar Triumphs
December 30, 2022
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON/SINGAPORE—World stocks were steady on the last trading day of the year as markets digested U.S. data and the dismantling of China’s zero-COVID policy, but the global index was heading for a 20 percent drop over a year marred by high inflation and war in Europe. The dollar, a beneficiary of rising U.S. interest rates,…
Average Mortgage Rates Rise After 6 Weeks of Declines
WASHINGTON—The average long-term U.S. mortgage rate rose this week after falling for six straight weeks, adding to the challenges potential homebuyers face amid higher home prices and a limited supply of available houses. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate increased to 6.42 percent from 6.27 percent last…
Stocks Rally to Higher Close as Job Market Remains Strong
A relatively light day of trading on Wall Street ended Thursday with a broad rally for stocks as investors welcomed new jobless benefits data that shows the labor market remains strong. The S&P 500 rose 1.7 percent, with roughly 95 percent of stocks within the benchmark index closing higher. The gains more than made up…
Is 2023 Finally Gold’s Year?
Commentary After a tumultuous several months, gold prices have enjoyed a decent run up in Q4 2022. Recent price movement was helped by the dollar’s retreat, hopes that the Federal Reserve will slow down its aggressive monetary tightening, and renewed demand for the metal from emerging markets. Is this the beginning of a multi-year bull…
Closing Prices for Crude Oil, Gold and Other Commodities (Dec. 29)
December 29, 2022
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for February delivery fell 56 cents to $78.40 a barrel Thursday. Brent crude for February delivery fell $1 to $82.26 a barrel. Wholesale gasoline for January delivery rose 1 cent to $2.37 a gallon. January heating oil fell 7 cents to $3.31 a gallon. February natural gas fell 15 cents to…
Southwest Airlines Stock Takes a Hit After Wave of Cancellations
Shares of Southwest (LUV) sank more than 10 percent this week after the airline canceled thousands of flights during the busy Christmas travel week, prompting scrutiny from federal officials. Despite a more than 3 percent rebound in early Thursday trade, some investors may avoid the company for some time due to its now-tarnished reputation. Southwest…
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