Tag: Markets

Oil Steadies as Market Awaits Key US Inflation Data

April 12, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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Oil prices steadied Wednesday as the market waited for U.S. inflation data later in the day that will likely influence the Federal Reserve’s policy on interest rate hikes. Brent crude gained 14 cents, or 0.2 percent, to $85.75 a barrel by 0917 GMT, while U.S. West Texas Intermediate rose 10 cents, or 0.1 percent, to…

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Global Shares Trend Higher With Focus on Inflation Data

April 12, 2023
Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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TOKYO—Global shares were mostly higher Wednesday, as investors watched for key inflation data likely to influence the Federal Reserve’s stance on interest rates. France’s CAC 40 added 0.4 percent in early trading to 7,420.32. Germany’s DAX edged up 0.4 percent to 15,709.27. Britain’s FTSE 100 surged 0.5 percent to 7,825.05. The future for the Dow…

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Australian Market Rises on the Back of Muted US Session

April 12, 2023
AustraliaAustralian stock marketBusiness & MarketseconomyMarketsstocksWorld
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The local share market is on track to notch up a five-week high on the back of a quiet session in the U.S. as investors await the release of inflation data. At noon AEST on Wednesday, the benchmark S&P/ASX200 index was up 42.5 points, or 0.6 percent, to 7,352.4. The broader All Ordinaries was up…

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Wall Street Muted at Open as Investors Await Inflation Data

April 11, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsrecessionstocksUS
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Wall Street’s main indexes were subdued at the open on Tuesday as investors kept an eye out for inflation data that could determine the U.S. Federal Reserve’s next policy moves. The Dow Jones Industrial Average rose 0.23 points at the open to 33,586.75. The S&P 500 opened higher by 1.18 points, or 0.03 percent, at…

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Fed’s Williams Doubts Monetary Policy Spiked Banking Sector Stress

April 11, 2023
Business & Marketseconomic policieseconomyFedinflationMarketsMonetaryPolicyrecessionSilicon Valley Bank CollapseUSUS NewsWilliams
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NEW YORK—Federal Reserve Bank of New York President John Williams said on Monday that financial system troubles that drove the central bank to provide large amounts of credit to banks is not collateral damage from the Fed’s aggressive effort to lower inflation. “I personally don’t think the pace of rate increases was behind the issues…

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Twitter Inc. Merged Into X Corp. and ‘No Longer Exists’

April 11, 2023
Business & MarketsCompanieseconomyElon MuskInvestmentMarketsMedia & Big TechmergerSocial MediaTechTwitterUSX Corp.
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Elon Musk-owned X Corp. has absorbed the social media platform Twitter as part of the CEO’s long-awaited move to turn it into an “everything app” similar to China’s WeChat app. After finalizing his purchase of Twitter Inc. in October 2022, Musk discussed about a plan to gradually turn the platform into an app device that…

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Bitcoin Breaks Above $30,000 as Investors Eye End of Rate Rises

April 11, 2023
Business & Marketscryptocurrencyeconomic policieseconomyfintechinflationMarketsstocks
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Major cryptocurrency bitcoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised bets that the U.S. Federal Reserve will soon end its aggressive monetary tightening campaign. Bitcoin peaked at $30,438 in Asian trade and was last up 1.4 percent at $30,070. It…

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Online Grocery Prices up 10.3 Percent in March as Inflation Continues to Bite

April 11, 2023
AdobeBusiness & Marketseconomygrocery pricesinflationMarketsonline shoppingpersonal financerecessionUSUS News
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Online grocery prices continued to rise by double-digits in March, as inflation continues to bite. Although online grocery prices have eased over the past six months, costs were up 10.3 percent in March from the previous year, according to the Adobe Digital Price Index on April 10. Adobe analyzed 1 trillion visits to retail sites and…

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Dollar Dips as European Markets Return From Break

April 11, 2023
Business & Marketseconomic policieseconomyForexglobalinflationMarketsrecessionstocks
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LONDON—The dollar gave back the previous day’s advances against the euro and pound on Tuesday as traders turned their attention to U.S. inflation data due on Wednesday for signs of how close U.S. rates are to peaking. The euro was up 0.52 percent at $1.0918 and the pound rose a similar amount to $1.2439 as…

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Oil Rises on China Stimulus Expectations, Weaker Dollar

April 11, 2023
Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia, and a drop in U.S. crude stockpiles. Brent crude futures rose 63 cents, or 0.8 percent, to $84.81 a barrel at 0840 GMT, while U.S. West Texas Intermediate futures gained 68 cents, or 0.9 percent,…

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