LONDON/SINGAPORE—The dollar fell to a two-month low on Thursday after data showed U.S. inflation slowed sharply in March, bolstering speculation the Federal Reserve’s rate hiking campaign is either already finished or will be by May. As the dollar slipped, the euro rose to within a whisker of a one-year high, with traders betting the European…
Oil Stable as Market Weighs Tight Supply Against US Recession Risk
April 13, 2023
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices were stable on Thursday as the market weighed the prospect of tight supply against possible recession in the United States, the world’s largest oil consumer. Brent crude fell 7 cents, or 0.08 percent, to $87.26 a barrel by 0935 GMT. U.S. West Texas Intermediate (WTI) was unchanged at $83.26. Both benchmarks had risen…
Stocks and Gold Cheer US Inflation Picture, While Dollar Slides
April 13, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Global shares rose on Thursday, while the dollar held near two-month lows after U.S. inflation data suggested the Federal Reserve may soon be finished raising interest rates, which in turn kept gold above $2,000 an ounce. The euro hit a 2–1/2 month high at $1.103. Investors are positive on Europe, where blue-chip stocks hit a…
Bankrupt Crypto Exchange FTX Has Recovered $7.3 Billion in Assets
Bankrupt crypto exchange FTX has recovered over $7.3 billion in cash and liquid crypto assets, an increase of more than $800 million since January, the company’s attorney said on Wednesday at a U.S. bankruptcy court hearing in Delaware. FTX attorney Andy Dietderich said the company is starting to think about its future after months of…
Stocks Dip After Inflation Data, Fed Economists’ Warning
NEW YORK—Stocks dipped to close an up-and-down Wednesday on Wall Street following the latest update on inflation and the latest warning of a possible recession. The S&P 500 fell 16.99, or 0.4 percent, to 4,091.95 after drifting between small gains and losses through the day. The Dow Jones Industrial Average slipped 38.29, or 0.1 percent,…
Closing Prices for Crude Oil, Gold and Other Commodities (Apr.12)
April 12, 2023
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Benchmark U.S. crude oil for May delivery rose $1.73 to $83.26 a barrel Wednesday. Brent crude for June delivery rose $1.72 to $87.33 a barrel. Wholesale gasoline for May delivery was unchanged at $2.87 a gallon. May heating oil rose 3 cents to $2.70 a gallon. May natural gas fell 10 cents to $2.09 per…
Rep. Jordan Subpoenas FTC Over Twitter, Musk Investigation
April 12, 2023
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Big Tech, Censorship, and SocialismBusiness & Marketscancel cultureCompaniescongressDemocratseconomic policieseconomyExecutive BranchFeatured TopicsFTCJordanMarketsMedia & Big TechMuskPolicies & ImpactsPoliticsRepublicansTwitterUSUS NewsWorld
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Rep. Jim Jordan (R-Ohio) on April 12 subpoenaed Chair Lina Khan of the Federal Trade Commission, stepping up the conflict between that agency and House Republicans regarding its approach to Twitter in the Elon Musk era. The Epoch Times has reviewed the subpoena. The subpoena comes after a March 10 letter to Khan from Jordan,…
Wall Street Opens Higher as Inflation Data Eases Rate-Hike Worries
Wall Street’s main indexes opened higher on Wednesday as headline consumer prices cooled faster than expected in March, raising hopes that the Federal Reserve could hit a pause on its interest rate hiking cycle soon. The Dow Jones Industrial Average rose 79.42 points, or 0.24 percent, at the open to 33,764.21. The S&P 500 opened…
America’s Small Businesses Deeply Pessimistic About Economy
April 12, 2023
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Business & MarketsCompaniescredit cruncheconomyinflationInvestmentMarketsrecessionSmall BusinessesU.S. economyUSUS News
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U.S. small-businesses owners are deeply pessimistic about economy, as inflation, higher borrowing rates, and a tight labor market weighed on their outlook last month. The National Federation of Independent Business’s (NFIB) optimism index, in a report on April 11. fell to 90.1 in March from 90.9 in February. This marks the fifteenth consecutive month below the 49-year…
Dollar Slips Ahead of US Inflation Data
SINGAPORE/LONDON—The dollar dipped on Wednesday with investors expecting U.S. inflation data out later in the day to hold some clues on how soon U.S. interest rates will peak. Against a basket of currencies, the U.S. dollar index fell 0.1 percent to 102.02. The U.S. inflation data for March is forecast to come in at 5.2…
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