BANGKOK—World shares have advanced ahead of Wednesday’s release of minutes from the Federal Reserve’s last policy meeting. Benchmarks rose in London, Paris, Hong Kong, and Shanghai. Markets were closed in Japan for a holiday. The Federal Reserve minutes could give investors more insight into the U.S. central bank’s decision-making process. Wall Street has been hoping…
World Shares Mostly Higher Ahead of Release of Fed Minutes
November 23, 2022
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Closing Prices for Crude Oil, Gold and Other Commodities (Nov. 22)
November 22, 2022
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Benchmark U.S. crude oil for January delivery rose 91 cents to $80.95 a barrel Tuesday. Brent crude for January delivery rose 91 cents to $88.36 a barrel. Wholesale gasoline for December delivery rose 10 cents to $2.54 a gallon. December heating oil fell 3 cents to $3.47 a gallon. December natural gas was unchanged at…
US Stocks Rise, Strong Earnings Send Retailers Higher
Stocks on Wall Street closed broadly higher Tuesday, as solid company earnings helped lift several retailers ahead of the Thanksgiving holiday in the United States. The S&P 500 rose 1.4 percent, more than making up for its losses last week. The Dow Jones Industrial Average rose 1.2 percent and the Nasdaq composite gained 1.4 percent. All…
Real Impact of Fed Hikes Likely Bigger Than What Target Rate Implies, Daly Says
San Francisco Federal Reserve President Mary Daly said on Monday the real-world impact of the U.S. central bank’s interest rate hikes is likely greater than what its short-term rate target implies. Against the Fed’s current short-term target rate of between 3.75 percent and 4.00 percent , Daly said some researchers have found “the level of…
Bankrupt Crypto Exchange FTX Has Cash Balance of Over $1 Billion
November 22, 2022
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Business & MarketsCompaniescrypto collapseCrypto Exchange FTXcryptocurrencyMarketsSam Bankman-FriedUS
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Bankrupt crypto exchange FTX has a cash balance in excess of $1 billion, according to a new filing by the company. The latest tally “identifies substantially higher cash balances than the debtors were in a position to substantiate as of Wednesday, Nov. 16,” the filing states, according to Bloomberg. In total, FTX is reported to…
Wall Street Opens Higher on Gains in Walgreens, Best Buy
Wall Street’s main indexes opened higher on Tuesday, with gains in shares of Walgreens and Best Buy helping investors assuage worries around the economic fallout from stricter COVID-19 curbs in China. The Dow Jones Industrial Average rose 109.8 points, or 0.33 percent, at the open to 33810.05. The S&P 500 rose 15.6 points, or 0.39…
EU Gas Price Cap Could Cause Permanent Damage to Markets, Europe’s Energy Exchanges Warn
With the European Union (EU) pushing ahead with its proposal to cap gas prices, leading energy exchanges are warning that the decision could pose a serious economic threat to the region. In a Nov. 19 letter to members of the European Commission, the Association of European Energy Exchanges (“Europex”) pointed out that gas derivatives were…
Dollar Cedes Some Ground, Bitcoin Hunkers Down
SINGAPORE/LONDON—The dollar retreated on Tuesday after rallying the previous day when investors rushed to the safe-haven currency on worries about China’s COVID-19 flare-ups, while fears of fresh contagion from the collapse of crypto exchange FTX pressured bitcoin. The euro was up 0.3 percent at $1.0265 after an 0.8 percent loss on Monday, sterling rose 0.46…
Oil Rises as Saudi Comments Outweigh Recession Concerns
November 22, 2022
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LONDON—Oil rose on Tuesday after top exporter Saudi Arabia said OPEC+ was sticking with output cuts and could take further steps to balance the market, outweighing global recession worries and concern about China’s rising COVID-19 case numbers. Saudi Arabian Energy Minister Prince Abdulaziz bin Salman on Monday was also quoted by state news agency SPA…
Global Stocks Gain After Wall Street Slide, China Virus Fears
November 22, 2022
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BEIJING—Major global stock markets advanced Tuesday after Wall Street sank and Chinese anti-virus controls fueled concern about an economic slowdown. London and Frankfurt opened higher. Shanghai and Tokyo gained, while Wall Street futures were lower. Oil prices gained. Wall Street’s benchmark S&P 500 index declined Monday after a Federal Reserve official rattled investors last week…
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