Benchmark U.S. crude oil for January delivery fell $1.82 to $74.29 a barrel Friday. Brent crude for February delivery fell $2.17 to $79.04 a barrel. Wholesale gasoline for January delivery fell 4 cents to $2.13 a gallon. January heating oil fell 16 cents to $3.12 a gallon. January natural gas fell 37 cents to $6.60…
Closing Prices for Crude Oil, Gold and Other Commodities (Dec. 16)
December 16, 2022
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Chinese Companies Submit to US Audit Watchdog Inspection, Avert Delisting Threat for Now
December 16, 2022
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The Public Company Accounting Oversight Board (PCAOB), accounting watchdog in the United States, has received full access to inspect and investigate companies operating in China for the first-ever time. The PCAOB is also tasked with overseeing registered public accounting firms worldwide. The PCAOB had the sole discretion to select which firms to audit, the potential…
IEA Says Global Coal Consumption Will Reach All-Time High This Year
December 16, 2022
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Global coal consumption will hit an all-time high in this year amid high demand in Europe, despite attempts to transition toward a “carbon-free” economy. Use of coal is expected to remain at similar levels over the next few years if more is not done to move countries to a low-carbon economy, according to a report by…
Despite 2022 Market Collapse, Young Investors Still Bullish on Cryptocurrencies: Study
It has been a tumultuous year for the cryptocurrency industry, from the crash in prices to the FTX fiasco. But a new study finds that this has not discouraged many young investors from parking their disposable income in crypto. According to a new Crypto State of the Industry Report by brokerage firm tastyworks, Generation Zers…
Eurozone Business Activity Falls at Slower Rate in December, Inflation Eases: PMI
BENGALURU—Eurozone business activity shrank at the slowest pace in four months in December, suggesting a likely recession ahead will be shallower than previously thought, a survey showed on Friday, while prices rose at the most modest rate in about a year. S&P Global’s flash Composite Purchasing Managers’ Index (PMI), seen as a good gauge of…
Asian Stocks Tumble as Fed’s Latest Rate Hike Triggers Market Fear
December 16, 2022
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Stock markets in Asia tumbled on Dec. 16 as investors anticipated that higher interest rates would persist following the latest rate hikes by the U.S. Federal Reserve and other central banks. The Fed raised its interest rate by 50 basis points on Dec. 14, prompting central banks in Europe, Britain, Switzerland, Denmark, Norway, Mexico, and…
Wall Street Extends Losses as Recession Fears Weigh
Wall Street’s main stock indexes extended losses on Friday as fears of a looming recession, sparked by the Federal Reserve’s relentless battle against inflation, hammered sentiment. The Dow Jones Industrial Average fell 35.76 points, or 0.11 percent, at the open to 33,166.46. The S&P 500 opened lower by 4.84 points, or 0.12 percent, at 3,890.91,…
Dollar Holds on to Gains After Rallying on Rate Hikes
LONDON/TOKYO—The dollar was little changed on Friday after jumping in the previous session, as traders analyzed a raft of central bank rate hikes and grappled with the prospect that borrowing costs still have a way to climb. The euro was flat against the dollar in early European trading at $1.063. That followed a 0.5 percent…
Oil Falls, Still Set for Weekly Gain on Demand Hopes
December 16, 2022
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LONDON—Oil fell on Friday as the market assessed the aftermath of interest rates hikes by central banks, but was poised for a weekly gain amid supply disruption concerns and hopes for a recovery of demand in China. Brent crude futures were down $1.56, or 1.9 percent, to $79.65 per barrel at 1200 GMT. West Texas…
Stock, Bonds Stung by Hawkish Central Banks
December 16, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—World stocks were stuck near one-month lows and government bond markets came under fresh selling pressure on Friday, a day after a slew of central banks jacked up interest rates and signaled that the fight to tame inflation was not over yet. Interest rates went up in the euro area, Britain, Switzerland, Denmark, Norway, Mexico,…
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