Tesla Inc. raised the U.S. prices for its Model S and X premium electric vehicles, according to its website on Thursday, although they are still 20 percent lower than the start of the year after a slew of price cuts to drum up demand. Tesla has been slashing prices globally since January, including as many…
Wall Street Subdued at Open, Focus on Business Activity Data
U.S. stock indexes were subdued at the open on Friday as investors digested a mixed bag of earnings reports, while awaiting more data for clues on the outlook for U.S. interest rates and the economy. The Dow Jones Industrial Average rose 6.98 points, or 0.02 percent, at the open to 33,793.60. The S&P 500 opened…
Existing Home Sales Drop as Mortgage Demand Crashes
Existing home sales fell in March, as higher interest rates continued to put pressure on borrowers, but some analysts believe that the housing market slump is nearing an end. Rising mortgage rates last month were a likely factor in deterring buyers by adding downward pressure on housing values, as fewer borrowers can afford higher payments. Home…
Eurozone Recovery Gathers Pace on Services Boost in April: PMI
The eurozone economic recovery has unexpectedly gathered pace this month as the bloc’s dominant services industry saw already-buoyant demand rise, more than offsetting a deepening downturn in manufacturing, surveys showed. The strong services performance could mean that wage pressures continue in the region, complicating the European Central Bank’s efforts to tame inflation, some economists noted….
Dollar Heads for 1st Weekly Gain Since February
LONDON—The dollar headed for its first weekly gain in nearly two months on Friday as investors raised their bets that the Federal Reserve will increase rates in May, while the euro drew some support from a surprising recovery in the eurozone economy in April. The dollar index, which measures the performance of the U.S. currency…
Oil Heads for Weekly Loss on Economic Uncertainty
LONDON—Oil prices were on track for a hefty weekly loss as economic and interest rate uncertainty weighed, though prices were stable on Friday as the eurozone recovery gathered pace unexpectedly. Brent futures for June delivery edged down by 4 cents, or 0.05 percent, to $81.06 a barrel at 0932 GMT. West Texas Intermediate crude (WTI)…
Stocks Struggle, Dollar Gains as Investors Scrutinize Data
LONDON—Global stocks struggled on Friday as investors pored over economic data for clues on the likelihood of more interest rate hikes and possible recession in the United States as a new earnings season unfolded. The dollar edged up and looked set for its first weekly gain in more than a month on Friday. Oil prices…
Stock Market Today: Tesla, AT&T Help Drag Wall Street Lower
NEW YORK—Stocks on Wall Street dipped Thursday following mixed earnings reports from big companies and more signals the U.S. economy may be slowing. The S&P 500 fell 24.73, or 0.6 percent, to 4,129.79 after drifting listlessly earlier this week. The Dow Jones Industrial Average slipped 110.39, or 0.3 percent, to 33,786.62, while the Nasdaq composite…
Closing Prices for Crude Oil, Gold and Other Commodities (Apr. 20)
Benchmark U.S. crude oil for May delivery fell $1.87 to $77.29 a barrel Thursday. Brent crude for June delivery fell $2.02 to $81.10 a barrel. Wholesale gasoline for May delivery fell 6 cents $2.59 a gallon. May heating oil fell 7 cents to $2.49 a gallon. May natural gas rose 3 cents to $2.25 per…
Leading Economic Indicator Sinks to Lowest Level in 28 Months: ‘Worsening Economic Conditions Ahead’
A leading economic indicator fell to its lowest level in 28 months, as signs point to a recession later this year. The latest Conference Board Leading Economic Index (LEI) report, published on April 20, fell 1.2 percent in March, for the twelfth month in a row, higher than The Wall Street Journal’s estimate of a 0.7 percent…
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