NEW YORK—A mixed day of trading left Wall Street slightly higher on Wednesday after a report showed inflation is making strides toward easing, even if it remains too high. The S&P 500 rose 18.47, or 0.4 percent, to 4,137.64 after swinging between gains and losses through the day. The Dow Jones Industrial Average slipped 30.48,…
Closing Prices for Crude Oil, Gold and Other Commodities (May 10)
May 10, 2023
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Benchmark U.S. crude oil for June delivery fell $1.15 to $72.56 a barrel Wednesday. Brent crude for July delivery fell $1.03 to $76.41 a barrel. Wholesale gasoline for June delivery rose 1 cent $2.49 a gallon. June heating oil was unchanged at $2.39 a gallon. June natural gas fell 8 cents to $2.19 per 1,000…
Home Prices Jump in Nearly 70 Percent of Residential Markets in First Quarter
May 10, 2023
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Business & Marketseconomyhome affordabilityMarketsreal estateU.S. home pricesU.S. housing marketUSUS Real Estate
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U.S. home prices rose in a majority of markets during the first quarter of the year, with around one in 14 markets seeing a double-digit increase in prices. Single-family existing-home sales prices rose in 152 of the 221 tracked markets in Q1, 2023, according to a May 9 press release by the National Association of…
Credit Crunch Could Weigh on US Economy, Stocks, Experts Warn
A credit crunch could worsen U.S. economic conditions, weighing on the stock market, according to financial experts. The Federal Reserve warned in two publications—the Financial Stability Report and the Senior Loan Officer Opinion Survey on Bank Lending Practices—that a credit crunch is forming in the national economy as financial institutions tighten credit terms and consumer…
IN-DEPTH: Inflation Still Too High for Fed to Start Lowering Rates, Experts Say
The latest inflation numbers are a mixed bag, accelerating sharply in monthly terms though easing a little in annual terms, with experts largely saying that the data remains too hot for the Federal Reserve (Fed) to start dropping interest rates. However, a pause in the rate-hiking cycle could be in the cards. While the annual…
US Corporate Bankruptcies at Highest Level in 13 Years
May 10, 2023
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U.S. corporate bankruptcies have reached their highest level since 2010. Many American companies have been stumbling in the wake of the pandemic due to increasing interest rates, supply-chain issues, and rising costs. Several of the firms have filed for bankruptcy after access to low interest loans and access to easy money began to wane. “For…
Stock Market Today: Stocks Dip Ahead of Report on Inflation
NEW YORK—Wall Street dipped on Tuesday following some mixed earnings reports, as stocks remain roughly where they’ve been stuck for more than a month. The S&P 500 fell 18.95 points, or 0.5 percent, to 4,119.17. The Dow Jones Industrial Average lost 56.88, or 0.2 percent, to 33,561.81, while the Nasdaq composite fell 77.36, or 0.6…
Closing Prices for Crude Oil, Gold and Other Commodities (May 9)
May 9, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for June delivery rose 55 cents to $73.71 a barrel Tuesday. Brent crude for July delivery rose 43 cents to $77.44 a barrel. Wholesale gasoline for June delivery rose 2 cents $2.48 a gallon. June heating oil rose 1 cent $2.39 a gallon. June natural gas rose 3 cents to $2.27…
US Crypto Exchange Bittrex Seeks Bankruptcy After SEC Complaint
May 9, 2023
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BittrexBusiness & MarketsChapter 11 bankruptcyCompaniescryptocurrencyeconomic policieseconomyExecutive BranchInvestmentMarketsPolicies & ImpactsPoliticsSecurities and Exchange CommissionUS
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Cryptocurrency exchange Bittrex filed for bankruptcy protection three weeks after the Securities and Exchange Commission (SEC) accused it of operating an unregistered securities exchange for years. On May 8, the crypto firm made the filing in a Wilmington, Delaware, court after announcing in March that it would wind down operations in the United States by the…
Australian Businesses Conditions Stay Strong in April but Uncertainty Remains
Australian business conditions still remain robust in April amid economic headwinds thanks to resilient customer demand and a strong labour market. According to the latest monthly business survey by the National Australia Bank (NAB), the business conditions index, which measures trading conditions, profitability and employment, dropped two points to 14 index points in April. While…
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