Contracts to buy U.S. previously owned homes fell far more than expected in November, diving for a sixth straight month in the latest indication of the hefty toll the Federal Reserve’s interest rate hikes are taking on the housing market as the central bank seeks to curb inflation. The National Association of Realtors (NAR) said…
US Weekly Jobless Claims Ticked Higher Last Week
The number of Americans filing new claims for unemployment benefits edged higher last week but remain in a range indicating the U.S. job market remains tight, even as the Federal Reserve works to cool demand for labor as part of its bid to lower inflation. Initial claims for state unemployment benefits rose 9,000 to a…
Wall Street Opens Higher as Jobless Claims Data Calm Rate Hike Jitters
Wall Street’s main indexes opened higher on Thursday as data pointing to signs of a cooling labor market eased worries over future interest rate hikes by the U.S. Federal Reserve. The Dow Jones Industrial Average rose 145.72 points, or 0.44 percent, at the open to 33,021.43. The S&P 500 opened higher by 22.23 points, or…
Dollar Slips as Traders Weigh China Outlook; Sterling Gains
SINGAPORE/LONDON—The dollar slipped on Thursday after rising in the previous session, with investors on edge at the end of the year as initial optimism over China’s reopening fizzled. The yen was last 0.56 percent higher at 133.72 against the dollar. That followed a 0.73 percent fall on Wednesday which saw the yen hit a one-week…
Oil Falls as China COVID-19 Spike Dampens Demand Outlook
December 29, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell by over 2 percent on Thursday as surging COVID-19 cases in China dimmed hopes of a recovery in fuel demand for the world’s largest crude oil importer. Brent futures for February fell $1.67, or 2.01 percent, to $81.59 a barrel by 0953 GMT. The more active March contract fell 1.79 percent to…
World Shares Extend Losses After Wall Street Decline
December 29, 2022
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares slipped in Europe and Asia on Thursday after benchmarks fell more than 1 percent on Wall Street in the middle of a mostly quiet and holiday-shortened week. U.S. futures were mixed and oil prices declined more than $1 a barrel. Investors are watching to see how China’s relaxation of its stringent COVID-19 policies, and…
Stocks Close Lower on Wall Street; Southwest Losses Mount
A broad slide for stocks added to Wall Street’s recent losses Wednesday, as investors count down to the end of the worst year for the S&P 500 since 2008. The S&P 500 fell 1.2 percent, with technology, energy and industrial stocks among the biggest weights on the benchmark index. The tech-heavy Nasdaq composite slid 1.4…
Closing Prices for Crude Oil, Gold and Other Commodities (Dec. 28)
December 28, 2022
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Benchmark U.S. crude oil for February delivery fell 57 cents to $78.96 a barrel Wednesday. Brent crude for February delivery fell $1.07 to $83.26 a barrel. Wholesale gasoline for January delivery was unchanged at $2.36 a gallon. January heating oil rose 3 cents to $3.38 a gallon. January natural gas fell 57 cents to $4.71…
Podcast Reveals Modern Day Slavery at CCP-Controlled Cobalt Mines in the Congo
December 28, 2022
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AfricaBusiness & MarketsChinaChina Human RightscobaltCompaniesCongoeconomic policiesEnvironmentGlobal ExpansionGold and CommoditiesInternational RelationsInvestmentMarketsModern SlaveryScienceSpecial TopicsWorld
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A revealing podcast has again brought to light the problem of slavery at Chinese Communist Party (CCP)-owned cobalt mines in the Congo and the hypocrisy of green energy advocates. Siddharth Kara, author of Cobalt Red: How The Blood of The Congo Powers Our Lives and a visiting Harvard professor, told his host Joe Rogan about his research and…
FTX Customers File Class Action to Lay Claim to Dwindling Assets
FTX customers filed a class action lawsuit against the failed crypto exchange and its former top executives including Sam Bankman-Fried on Tuesday, seeking a declaration that the company’s holdings of digital assets belong to customers. The lawsuit is the latest legal effort to lay claim to the dwindling assets of FTX, which is already feuding…
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