BANGKOK—Shares were mixed in Europe and Asia ahead of the release Thursday and Friday of U.S. jobless and inflation data. U.S. futures turned higher and oil prices rebounded. Investors are watching for data that may yield more insights into inflation’s path ahead and how the Fed will continue fighting high prices. The U.S. will release…
World Shares Mixed Ahead of US Jobless, Inflation Data
December 8, 2022
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Nigeria Limits Weekly, Daily ATM Cash Withdrawals to Push Digital Currency Use
Nigeria is set to begin limiting cash withdrawals from ATMs to just $45 a day as the country moves toward its goal of becoming a cashless economy and embraces digital currency, including its own “eNaira” cash. In a letter (pdf) to all banks and other financial institutions sent on Dec. 6, Nigeria’s Central Bank said they must…
Tech Hubs, Desert Metros See Rents Soften in November: Report
December 7, 2022
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U.S. apartment rents dropped for the third straight month in November, easing back from this year’s record highs as leasing demand continues to weaken, according to newly released data. While still lofty compared to previous years, effective asking rents for new leases declined 0.59 percent nationally last month, marking the largest cut since the pandemic…
Slump in Tech Stocks Helps Send Wall Street to Another Loss
Wall Street ended a wobbly day of trading with more losses Wednesday, as a slide in technology companies helped pull stocks lower and Treasury yields fell broadly. The S&P 500 slipped 0.2 percent, its fifth straight loss. The Nasdaq composite, which is heavily weighted with tech stocks, fell 0.5 percent, while the Dow Jones Industrial…
Closing Prices for Crude Oil, Gold and Other Commodities (Dec. 7)
December 7, 2022
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Benchmark U.S. crude oil for January delivery fell $2.24 to $72.01 a barrel Wednesday. Brent crude for February delivery fell $2.18 to $77.17 a barrel. Wholesale gasoline for January delivery fell 7 cents to $2.08 a gallon. January heating oil fell 14 cents to $2.78 a gallon. January natural gas rose 25 cents to $5.72…
Where Does Wall Street See US and Global Stocks in 2023?
It was a year that investors will not look back on with great nostalgia, as all three leading benchmark indexes touched bear market territory before paring some of their losses. Year to date, the Dow Jones Industrial Average tumbled about 8 percent, the Nasdaq Composite Index cratered roughly 30 percent, and the S&P 500 Index…
Sam Bankman-Fried, FTX Promoters May Avoid Serious Consequences for Fraud, Experts Warn
December 7, 2022
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News Analysis The international scandal of the implosion of FTX, whose founder and former CEO, Sam Bankman-Fried, stands accused of all manner of fraudulent and reckless practices, could spur a regulatory overhaul aimed at curbing the excesses of the barely-regulated crypto space and preventing such fiascos in the future, experts on finance and law have…
European Tech Industry Loses $400 Billion Market Value, Report Says
December 7, 2022
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LONDON/STOCKHOLM—The European tech industry saw $400 billion in value wiped out this year and an 18 percent decline in venture capital funding, according to a report from venture capital firm Atomico. The combined value of public and private tech firms in Europe fell to $2.7 trillion, down from $3.1 trillion in late 2021. High interest…
Wall Street Opens Lower as Recession Worries Mount
Wall Street’s main indexes opened lower on Wednesday as warnings of a looming recession from major Wall Street bankers offset optimism around China relaxing its strict zero-COVID rules. The Dow Jones Industrial Average fell 39.9 points, or 0.12 percent, at the open to 33556.4. The S&P 500 fell 8.0 points, or 0.20 percent, at the…
More Than 40 Percent of Americans Expect the Housing Market to Crash Next Year: Survey
December 7, 2022
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A lot of consumers have a very gloomy outlook about the market due to news of mass layoffs, high inflation, and rising credit card debt, according to a new survey that shows 41 percent of Americans believe the housing market will crash next year. The survey was conducted on more than 2,000 American consumers by…
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