Oil Prices Dip as industry Data Shows Massive Build in U.S. Inventories
Oil prices fell on Wednesday after industry data pointed to a large weekly build in U.S. crude stockpiles, although losses were limited by the prospect of strong demand this year and as the dollar softened on expectations of slower interest rate hikes. Data from...
Japanese Yen Rallies to 4-month High on BoJ Policy Tweak, Asia FX Slips
Most Asian currencies fell slightly on Tuesday as fears of a potential recession persisted, while the Japanese yen rallied past its peers after the Bank of Japan tweaked its ultra-dovish policy, drumming up hopes for an eventual pivot. The yen jumped 2.7% to 133.14...
European Stock Futures Higher; U.K. GDP Grows in November
European stock markets are expected to open slightly higher Friday, with investors focusing on a deluge of important economic data, including U.K. growth data for November, as well as earnings from the U.S. banking sector. At 02:00 ET (07:00 GMT), the DAX futures contract...
Gold, Copper Slip as Powell Dashes Fed Pivot Hopes
Gold prices fell on Thursday, reversing recent gains as hawkish comments from Federal Reserve Chairman Jerome Powell dashed hopes that interest rate hikes will end soon, while copper prices were also hit by uncertainty over China withdrawing its zero-COVID policy The Fed hiked interest...
Nikkei Closes Above 33,000 For The First Time In 33 Years
Japan’s benchmark Nikkei gauge surged on Tuesday, closing over 33,000 for the first time in 33 years, led by technology shares on expectations of a flood of investment in chip-related companies. SoftBank Group Corp jumped 5.25% on reports it may team up on an...
Oil Surges As Speculation Over OPEC Cut Outweighs China concerns
Oil prices jumped on Tuesday as traders bet that recent weakness in the market will invite more supply cuts by the OPEC, while anti-government protests in China and hawkish signals from the Federal Reserve worsened the outlook for demand. Oil marked a volatile start...
Musk to jury: Just Because I Tweet Something, Doesn’t Mean People Believe it
Elon Musk, Tesla (NASDAQ:TSLA) Inc's chief executive, testified on Friday that investors do not always react to his Twitter messages as he expects, defending himself in a fraud trial over his 2018 tweet that he had funding to take the electric carmaker private. Musk's...
Rising Interest Rates Have a Sting in The Tail For Europe’s Banks
Rising borrowing costs are giving a long-awaited lift to Europe's beleaguered banks, but they come with a sting in the tail. Last year central banks ended a decade of rock-bottom interest rates as the U.S. Federal Reserve and then the European Central Bank moved...
Flu, Colds Increasing as COVID-19 Restrictions Are Eased: Here Are the Symptoms for Each Illness
Many health officials expect influenza and cold cases to increase this fall and winter as COVID-19 safety protocols are eased.Experts note many symptoms for the flu and COVID-19 are similar, including fever and body aches. However, breathing difficulty is more common with COVID-19.Health officials...
Asia FX Rises in Holiday Trade as China Recovery Bets Grow
Most Asian currencies strengthened in thin trade on Monday, while the dollar weakened further amid growing bets that the Chinese economy will bounce back this year, with focus also turning to key U.S. data due this week. Regional trading volumes were limited with most...