SAN FRANCISCO—Tesla shares extended declines to hit their lowest level in more than two years on Wednesday, as investors including a “fanboy” of CEO Elon Musk lashed out at Musk’s distraction from the electric car company following his buy of Twitter. Shares of Tesla, the world’s most valuable carmaker, is one of the worst performing…
Dollar Gains After Fed Meet, BOE and ECB in Focus
LONDON—The dollar strengthened across the board on Thursday after the Federal Reserve said it would deliver more interest rate hikes next year and before meetings of the Bank of England and the European Central Bank. The euro fell 0.67 percent to $1.0611, and sterling lost 0.9 percent to $1.2316, both falling from six-month highs hit…
Oil Steadies After Early Decline as More Rate Hikes Loom
December 15, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices steadied on Thursday after early declines as the dollar firmed while the possibility of further increases to interest rates by central banks also heightened demand concerns. Brent crude futures rose 14 cents, or 0.2 percent, to $82.84 a barrel by 1055 GMT and U.S. crude futures added 1 cent to $77.29. Gains in…
World Shares Decline After Fed Warns of Higher Rates to Come
December 15, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BANGKOK—Shares skidded in Europe and Asia on Thursday after a retreat on Wall Street by investors dismayed over the Federal Reserve’s warning that still more interest rate hikes are in store following its latest increase. Oil prices fell and U.S. futures also dropped. The declines followed the U.S. Federal Reserve’s hike in its key short-term…
Stocks Stumble After Fed Hikes Rates, Signals More to Come
A bumpy day of trading on Wall Street ended with stocks broadly lower Wednesday after the Federal Reserve raised its benchmark interest rate in its fight against inflation and signaled that more hikes lay ahead. As expected, the central bank raised its key short-term rate by 0.50 percentage points, marking its seventh hike this year….
Closing Prices for Crude Oil, Gold and Other Commodities (Dec. 14)
December 14, 2022
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for January delivery rose $1.89 to $77.28 a barrel Wednesday. Brent crude for February delivery rose $2.02 to $82.70 a barrel. Wholesale gasoline for January delivery rose 8 cents to $2.24 a gallon. January heating oil rose 18 cents to $3.28 a gallon. January natural gas fell 51 cents to $6.43…
Existing Home Sales Expected to Drop Next Year to 11-Year Low
December 14, 2022
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Business & Marketseconomyhome pricesinflationInvestmentMarketsmortgage ratesreal estateUSUS Real Estate
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Existing home sales in the United States will likely drop in 2023 to an 11-year low. Sales of previously owned homes will fall for a second year in 2023 to their lowest annual total since 2012, when the housing market was still recovering from the subprime mortgage crisis of 2008–09, according to the National Association of…
Senate Panel Told FTX Crash Not a ‘One-Off’ Amid Debate Over Tighter Crypto Regulation
At a Senate hearing Wednesday on the collapse of crypto platform FTX, expert testimony provided differing views on the loosely regulated crypto industry, with some arguing it poses big risks to customers and financial stability and must be more tightly controlled or banned outright, while others calling for a softer touch. The Senate Committee on…
Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers: Senate Hearing
December 14, 2022
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Business & MarketscongressCrypto CrashcryptocurrencyEpochTVEpochTV LiveFTXLive VideosMarketsPoliticsUSVideo
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The Senate Committee on Banking, Housing and Urban Affairs will conduct a hearing entitled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers.” at 10:00 a.m. ET on Dec. 14. The webcast hearing will be held in the Dirksen Senate Office Building G50. Witnesses: Professor Hilary J. Allen, American University Washington College…
Stocks Edge Higher Ahead of Last Fed Meeting of the Year
NEW YORK—Stocks are opening slightly higher on Wall Street as markets hold on to hope that the U.S. Federal Reserve is ready to ease back slightly on its campaign to slow the economy with high interest rates. The Fed’s latest decision on rates is due out later Wednesday. It’s widely expected to raise its benchmark…
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