Wall Street’s main indexes were subdued at the open on Tuesday after the Bank of Japan surprised global investors with a policy shift that would allow long-term interest rates to rise more. The Dow Jones Industrial Average fell 22.30 points, or 0.07 percent, at the open to 32,735.24. The S&P 500 opened lower by 7.19…
Yen Soars to 4-month High After Surprise BOJ Policy Tweak
LONDON—The yen surged to a four-month peak against the dollar on Tuesday after the Bank of Japan stunned markets by deciding to review its yield curve control policy and widen the trading band for the 10-year government bond yield. While it kept broad policy settings unchanged—pinning short-term JGB yields at -0.1 percent and the 10-year…
Bank of Japan Widens Yield Curve Control Band, Triggering Jump in Yen
The Japanese yen rose 3 percent against the U.S. dollar on Tuesday after the Bank of Japan (BOJ) modified its yield curve control (YCC) band, allowing long-term government bond yields to trade in a wider range. The BOJ has decided to raise Japan’s 10-year government bond yields from 25 basis points to 50 basis points…
Oil Prices Rise but China’s COVID-19 Surge Limits Gains
December 20, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Tuesday, supported by a softer dollar and a U.S. plan to restock petroleum reserves, but gains were capped by uncertainty over the impact of rising COVID-19 cases in top oil importer China. Brent crude futures were up 50 cents, or 0.65 percent, at $80.30 a barrel by 1035 GMT, adding to…
Stocks, Bonds Fall as BOJ’s Surprise Policy Shift Spooks Investors
December 20, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global stocks and bonds fell on Tuesday as a surprise policy tweak by Japan’s central bank rattled investors already worried about the economic fallout of rising interest rates and lifted domestic bond yields to seven-year highs. The Bank of Japan (BOJ) widened the allowable band for long-term yields to 50 basis points on either side…
Wall Street Loses More Ground, Extending a Losing Streak
Wall Street started off the week with more losses for stocks Monday, as investors brace for higher interest rates from central banks to fight inflation. The S&P 500 fell 0.9 percent, with most of the sectors in the benchmark index closing in the red. The Dow Jones Industrial Average fell 0.5 percent at the Nasdaq…
Closing Prices for Crude Oil, Gold and Other Commodities (Dec. 19)
December 19, 2022
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Benchmark U.S. crude oil for January delivery rose 90 cents to $75.19 a barrel Monday. Brent crude for February delivery rose 76 cents to $79.80 a barrel. Wholesale gasoline for January delivery rose 5 cents to $2.18 a gallon. January heating oil fell 7 cents to $3.05 a gallon. January natural gas fell 75 cents…
Binance Faces Heavy Scrutiny as $22 Trillion Worth in Hidden Trades Are Found
December 19, 2022
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Binance, the world’s biggest crypto exchange, is under heavy scrutiny as $22 trillion worth in hidden trades were found, according to a recent report. The exchange is currently attempting to drum up confidence after a surge in customer withdrawals and a massive drop in the value of its digital token, BNB, has it facing a reliability…
Insurance Companies Shun Clients With Links to FTX Due to High Contagion Risks
December 19, 2022
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Business & MarketsCompaniescryptocurrencycryptocurrency exchangeeconomyFTXInsurersInvestmentMarketsSam Bankman-FriedUSUS News
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Insurance companies are now denying or limiting coverage to any clients who were exposed to FTX, after the cryptocurrency exchange collapsed last month, leaving creditors with more than $3 billion in losses. This has left many digital currency traders and exchanges uninsured from any losses due to hacks, theft, or lawsuits, as insurers propose new policy…
TSMC Surpasses Tencent as Highest Value Company in Asia, as Top Chinese Firms Drop From Global 500 Ranking
December 19, 2022
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Top Chinese companies have tumbled in market cap, with 12 firms dropping out of the 2022 Hurun Global 500, a list of the 500 most-valued, non-state-owned firms in the world. According to the 2022 report released by the Shanghai-based Hurun Research Institute on Dec. 9, the United States leads the world with a total of 260…
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