stocks
London (AFP) - Wall Street stocks pushed higher on Friday despite strong data and higher oil prices raising concerns that the US Federal Reserve may not cut interest rates as much as previously expected. US hiring rose much more than expected last month, according to government data published Friday, keeping up the pressure on the Fed as it weighs when to start cutting interest rates. The world's largest economy added 303,000 jobs in March, up from a revised 270,000 new jobs created a month earlier, the Department of Labor announced. That was considerably higher than market forecasts of arou...
AFP
New York (AFP) - Gold prices and bitcoin hit all-time highs Tuesday before paring some gains, while a sell-off in some tech stocks led to a slump in many stock markets around the world. On Wall Street, the Dow and the S&P 500 both finished 1.0 percent lower, while the tech-rich Nasdaq composite ended the day down 1.7 percent, pulled down by firms including Apple and Tesla. Despite the gloomy trading day in New York, US stock indices are still up sharply on the year. Kurt Spieler, chief investment officer at FNBO, told AFP he thinks US markets can still climb slightly higher in the short term, ...
AFP
New York (AFP) - A larger-than-expected rise in US wholesale prices Friday rekindled worries over the timing of interest rate cuts and brought a halt to Wall Street's recent rebound. Markets shuddered after data released on Tuesday showed US consumer price inflation slowed less than expected in January, dealing a blow to hopes of an early interest rate cut by the US Federal Reserve. After staging a small rebound, US equities slipped once more to finish the trading day firmly in the red. The Dow Jones Industrial Average ended 0.4 percent lower, while the broad-based S&P 500 Index lost 0.5 perc...
AFP
New York (AFP) - Global stock markets diverged Wednesday, with Wall Street pushing higher on the back of strong earnings, while European indexes slipped on a mixed bag of corporate results and signs the US Federal Reserve is likely to tight on interest rate cuts in the coming months. In New York, the broad-based S&P 500 rose to close just short of the 5,000-point mark after a string of fresh record highs. The Dow and the Nasdaq also finished higher. US optimism was fueled by the most recent corporate earnings, with automaker Ford beating estimates in results released late Tuesday, while Chip...
AFP
New York (AFP) - Global stocks were mixed Thursday on the penultimate trading day of 2023, while oil prices fell on easing worries about shipping disruptions in the Red Sea. The Dow eked out a fresh record, while the S&P 500 fell a bit short of an all-time high despite finishing the day modestly higher. "The last two months have been truly spectacular," said Steve Sosnick of Interactive Brokers. "No institutional investor can afford to be under-invested." US equities have trended higher since late October as the market has embraced moderating inflation and a strong labor market in the belief t...
AFP
New York (AFP) - US oil prices finished below $70 a barrel for the first time since July on Wednesday on a mixed day for global equities, as traders pondered hopes for interest rate cuts from the European Central Bank and the US Federal Reserve. West Texas Intermediate oil for delivery in January fell 4.1 percent to finish at $69.38 a barrel. The drop came as markets eyed signs of weakening demand amid skepticism that the OPEC + coalition's efforts will meaningfully restrain supply. Analysts have begun to consider the possibility that Saudi Arabia could abruptly decide to open the spigots, re...
AFP
New York (AFP) - Charlie Munger, the longtime friend and business partner of famed US investor Warren Buffett, died on Tuesday at the age of 99, his employer has confirmed. Berkshire Hathaway, where Munger served for decades as vice chairman under Buffett, announced it was "advised by members of Charlie Munger's family that he peacefully died this morning at a California hospital." "Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom and participation," Warren Buffett said in a statement. Like Buffett, Munger was born and brought up in Omah...
AFP
New York (AFP) - Shares of Pioneer Natural Resources surged more than 10 percent Friday following reports the shale producer is nearing a megadeal to be acquired by ExxonMobil. The potential transaction, which would bolster ExxonMobil's holdings in the Permian Basin in Texas and New Mexico, could be announced "in the coming days" and be worth $60 billion, reported the Wall Street Journal, citing people familiar with the matter. The newspaper also said it was "still possible" there would be no deal. Pioneer's output of 707,000 barrels per day of oil equivalent amount to just over a quarter of E...
AFP
New York (AFP) - Wall Street stocks edged lower Friday, extending a losing streak as markets continued to anticipate a period of persistently elevated interest rates. Major indices flirted with positive territory throughout the day, but kept retreating before finally finishing lower for a fourth straight day. The broad-based S&P 500 finished at 4,320.06, down 0.2 percent for the day and 2.9 percent for the week. The Dow Jones Industrial Average dropped 0.3 percent to 33,963.84, while the tech-rich Nasdaq Composite Index lost 0.1 percent at 13,211.81. Stocks have been playing defense since the...
AFP
New York (AFP) - Global stocks were mixed Tuesday ahead of a Federal Reserve decision as oil prices reached fresh multi-month peaks before pulling back. Brent North Sea crude oil traded above $95 per barrel Tuesday for the first time since November last year, supported by recent production cutbacks announced by Saudi Arabia and Russia. But crude prices retreated later in the day, finishing the session modestly lower amid concerns about demand. The dip in oil prices coincided with a modest bounce in US equities. Major indices concluded the day lower, but ended well above session lows, with the ...
AFP
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