Benchmark U.S. crude oil for January delivery fell $1.17 to $76.11 a barrel Thursday. Brent crude for February delivery fell $1.49 to $81.21 a barrel. Wholesale gasoline for January delivery fell 7 cents to $2.17 a gallon. January heating oil was unchanged at $3.28 a gallon. January natural gas rose 54 cents to $6.97 per…
Closing Prices for Crude Oil, Gold and Other Commodities (Dec. 15)
December 15, 2022
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US Stocks Sink as Fed Signals It Will Remain Aggressive
Stocks tumbled on Wall Street and across European markets Thursday as investors grew increasingly concerned that the Federal Reserve and other central banks are willing to risk a recession to bring inflation under control. The S&P 500 fell 2.5 percent, with more than 90 percent of stocks in the benchmark index closing in the red….
Tesla Closes up Despite Musk Selling $3.58 Billion of Its Shares
AUSTIN, Texas—Shares of Tesla rose slightly Thursday despite news that CEO Elon Musk sold another $3.58 billion worth of the electric vehicle maker’s stock this week. The stock closed at $157.67, up less than 1 percent but still close to its two-year lows. Tesla did fare better than the broader U.S. stock market, where concerns…
FTX Collapse Heightens Anxiety Over Binance
After the FTX collapse, Binance co-founder and CEO Changpeng Zhao is grappling with challenges on numerous fronts. As the industry deals with the high-profile fallout from FTX, billions of dollars are fleeing Binance, one of the world’s largest cryptocurrency exchanges. Further, Zhao has recently come under fire for being responsible for the FTX’s collapse, and…
Recession Fears, Federal Reserve Dash ‘Santa Claus Rally’ Hopes as Market Plunges
The U.S. stock market suffered one of its worst days of 2022 as the leading benchmark indexes fell sharply on Thursday, dashing hopes of a year-end Santa Claus rally. Investors engaged in a broad-based selloff toward the end of the trading week. The Dow Jones Industrial Average (DJIA) plummeted as much as 919 points. The…
Stocks Plunge as Recession Fears, Federal Reserve Dash Investor Hopes
The U.S. stock market suffered one of its worst days of 2022 as the leading benchmark indexes fell sharply on Thursday, dashing hopes of a year-end Santa Claus rally. Investors engaged in a broad-based selloff toward the end of the trading week. The Dow Jones Industrial Average (DJIA) plummeted as much as 919 points. The…
US Fuelmakers More Than Recoup Pandemic Losses in 2022
U.S. oil refiner PBF Energy is closing out one of the best financial years in its history, a wild bounce back from the brink in April 2020 when fuel demand and gasoline prices cratered during the pandemic and the company’s value swooned lower than what it had just paid to buy a California refinery. PBF’s…
Fewer Americans Apply for Jobless Benefits Last Week
December 15, 2022
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AmericanbenefitsBusiness & MarketsCompanieseconomyinflationjoblessMarketsMedia & Big TechrecessionUSUS News
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WASHINGTON—The number of Americans applying for unemployment benefits fell significantly last week, a sign that the labor market remains strong even as the Federal Reserve continues to raise interest rates in an effort to cool the economy and slow inflation. Applications for jobless claims fell to 211,000 for the week ending Dec. 10, down by…
ECB Slows Rate Hikes but Pledges Continued Inflation Fight
December 15, 2022
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Business & MarketsECBeconomic policieseconomyEuropeeurozonehikeinflationMarketsPolicyraterecessionWorld
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FRANKFURT—The European Central Bank raised interest rates for the fourth time in a row on Thursday, although by less than at its last two meetings, pledged further hikes and laid out plans to drain cash from the financial system as part of its fight against runaway inflation. The ECB has been raising rates at an…
H&M Shares Drop as September–November Sales Fail to Impress
COPENHAGEN—Shares in H&M, the world’s second-biggest fashion retailer, fell 4.5 percent in early Thursday trade as a 10 percent rise in net sales in the September–November quarter failed to match a recent pick up in some analysts’ expectations. H&M, which has struggled to keep up with bigger rival Zara, last month became the first big…
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