Benchmark U.S. crude oil for February delivery fell 3 cents to $79.53 a barrel Tuesday. Brent crude for February delivery rose $2.94 to $83.92 a barrel. Wholesale gasoline for January delivery fell 2 cents to $2.36 a gallon. January heating oil rose 9 cents to $3.35 a gallon. January natural gas rose 20 cents to…
Closing Prices for Crude Oil, Gold and Other Commodities (Dec. 27)
December 27, 2022
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What to Do If Your House Won’t Sell
Commentary Due to the Federal Reserve increasing interest rates at a record pace, the housing market has come to a standstill. While we aren’t seeing dramatic discounts yet, significant price decreases are on the horizon as sellers will be forced to lower their prices to sell their homes. This is great news if you’re a…
Moscow to Ban Oil Exports to Nations That Impose Price Cap
December 27, 2022
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Business & Marketseconomic policieseconomyenergyEuropeMarketsoil exportsprice capRussiaRussia-Ukraine WarUSWorld
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Moscow will follow through with its threat to ban oil exports to countries that agree to impose a price cap on Russian oil. President Vladimir Putin announced his government’s long-awaited response to a Western-backed price cap on his nation’s crude exports on Dec. 27. The Russian leader signed an order banning the supply of oil and…
Carmakers Considering Cutting Ties With China Due to Persistent Supply-Chain Issues, Political Tensions
December 27, 2022
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automakersBusiness & MarketsChinaChina Business & Economychina supply chainCompaniesdependence on ChinaeconomyMade in ChinaMarketsStellantiszero covid restrictions
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After setting up shop in China to take advantage of its cheap, massive labor force, multiple carmakers are now planning to cut off ties with the Asian nation after concerns about supply chains arising from geopolitical tensions and COVID-19 disruptions. The decision by the automakers is driven by two factors. The first is worries about…
Dow Opens Higher on Easing China COVID-19 Curbs; Tesla Weighs on Nasdaq
The Dow Jones opened higher on Tuesday after China further relaxed its COVID-19 curbs by scrapping the quarantine rule for inbound travelers, while a drop in Tesla shares weighed on the Nasdaq. The Dow Jones Industrial Average rose 20.30 points, or 0.06 percent, at the open to 33,224.23. The S&P 500 opened lower by 1.48…
Transferring a 401(k) to an IRA While Still Employed
December 27, 2022
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Many employees only consider what to do with their 401(k) plans after leaving an employer, but you may have the option to roll over your retirement savings into an IRA while still working at your current job. Deciding whether or not to transfer a 401(k) to an IRA while still employed depends on your employer’s…
Nearly 3 in 5 German Industry Associations Foresee Gloomy 2023
BERLIN—Nearly three out of five German industry associations are pessimistic about next year and expect their companies to produce less as high energy prices due to the war in Ukraine show no signs of abating, found a survey published Tuesday. Of the 49 associations surveyed by the IW economic institute, 30 said they expect their…
Dollar Slips as Investors Take Heart From Looser China COVID-19 Rules
LONDON—The dollar fell on Tuesday after China said it would scrap its COVID-19 quarantine rule for inbound travelers—a major step in reopening its borders that boosted risk-related currencies such as the New Zealand and Australian dollars. China will stop requiring inbound travelers to go into quarantine on arrival starting Jan. 8, the National Health Commission…
Oil Hits 3-week High as China Eases COVID-19 Curbs
December 27, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil hit a three-week high on Tuesday as China’s latest easing of COVID-19 restrictions spurred hopes of a fuel demand recovery, with further support coming from cuts to U.S. energy production caused by winter storms. China will stop requiring inbound travelers to go into quarantine, starting from Jan. 8, the National Health Commission said on…
Stocks and Commodities Jump as China Drops Quarantine Rule
December 27, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Stock markets gained on Tuesday after China said it would scrap its COVID-19 quarantine rule for inbound travelers—a major step in reopening its borders. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6 percent, outperforming an index of global shares, which rose 0.2 percent. China’s bluechip gained 1 percent. The pan-European STOXX 600 index…
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