News Analysis After talking up a “Red Wave” throughout 2022, the Republican Party ultimately failed to take the Senate in November. Yet, the GOP’s narrow majority in the House of Representatives will let them exercise more influence than they did during the first two years of Joe Biden’s presidency. Judging by opinion research, energy-related issues…
Can Republican Power in the House Make a Difference on Energy?
Japan’s Consumer Inflation Hits Fresh 40-year High, Eyes on BOJ Policy
TOKYO—Japan’s core consumer inflation hit a fresh four-decade high as companies continued to pass on rising costs to households, data showed, a sign price hikes were broadening and could keep the central bank under pressure to whittle down massive stimulus. Months before Tuesday’s surprise tweak to its yield control policy, Bank of Japan (BOJ) policymakers…
Dollar Steady After Strong US Data, Yen Set for Weekly Gain
LONDON/SINGAPORE—The dollar fluctuated on Friday and was little changed in morning trading in London after two days of gains, as investors weighed up the outlook for interest rates following the release of stronger-than-expected U.S. economic data on Thursday. The euro was up slightly against the dollar, standing 0.1 percent higher at $1.061, after slipping less…
Elon Musk Says He Won’t Sell Tesla Stock for 2 Years, Predicts ‘Serious Recession’ in 2023
Elon Musk, the billionaire head of Tesla, Space X, and Twitter, on Thursday predicted a “serious recession” in 2023 and promised not to sell Tesla stock next year “under any circumstances.” Speaking in a Twitter Spaces audio forum, Musk also assured investors Tesla hadn’t “skipped a beat on execution” since he took over Twitter. Twitter required an…
Oil Rises 2 Percent on Russian Supply Worries; US Storm Impact in Focus
LONDON—Oil prices rose 2 percent on Friday on expectations of a drop in Russian crude supply, which helped offset worries of a hit to U.S. transport fuel demand growth as a looming Arctic storm threatens travel during the holiday season. Brent crude was up by $1.40, or 1.70 percent, to $82.38 a barrel at 1044…
World Shares Mixed Before Updates on Spending, Durable Goods
BANGKOK—Shares rose in Europe on Friday after a retreat in Asia ahead of updates on U.S. consumer spending and durable goods orders. Benchmarks climbed in London and Paris but fell in Hong Kong, Tokyo, and Seoul. Oil prices surged more than $1 a barrel. Japan reported its core inflation rate, excluding volatile fresh foods, rose…
US Stocks Slide as Economic Data Stokes Rate Hike Worries
NEW YORK—Stocks closed broadly lower on Wall Street Thursday as stronger-than-expected reports on the U.S. economy stoked worries about interest rates staying high. The S&P 500 fell 1.4 percent after having been down as much as 2.9 percent earlier in the day. The pullback brings Wall Street’s main measure of health back to a loss of…
Closing Prices for Crude Oil, Gold and Other Commodities (Dec. 22)
Benchmark U.S. crude oil for February delivery fell 80 cents to $77.49 a barrel Thursday. Brent crude for February delivery fell $1.22 to $80.98 a barrel. Wholesale gasoline for January delivery fell 1 cent to $2.25 a gallon. January heating oil fell 1 cent to $3.13 a gallon. January natural gas fell 33 cents to…
Tesla Shares Tank After Doubling US Discounts on Key Models
Tesla Inc shares tanked on Thursday after the luxury electric car maker started offering $7,500 discounts on Model 3 and Model Y vehicles delivered in the United States this month, fueling concerns the company is facing softening demand as economies slow. On Dec. 1, Tesla started offering a $3,750 “credit” on Model 3 and Model…
US Dollar Likely Has Further Upside Versus Yen Despite BOJ Move: Goldman
NEW YORK—The Bank of Japan, which widened the trading band for 10-year Japanese government bonds (JGBs) on Tuesday, may have inflicted damage on the dollar against the yen, but Goldman Sachs analysts said there was further room for the greenback to rise. On Tuesday, the dollar plunged as much as 4 percent against the yen,…
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