Oil prices fall despite surprise drop in US crude inventories as gasoline demand picks up

Oil prices fall despite surprise drop in US crude inventories as gasoline demand picks up

Oil futures gave up gains Wednesday, turning lower despite data showing an unexpected drop in US crude inventories and a further, sharp fall in gasoline supplies. The turn lower for crude came as equity markets fell sharply, erasing a big Tuesday bounce and affecting demand for other assets perceived as risky. Price action West Texas … Read more

US stock futures slip a day after solid market bounce

US stock futures slipped Wednesday, as investors reconsidered hawkish comments from Federal Reserve Chairman Jerome Powell. S&P 500 futures ES00, -0.21% fell 0.4% to 4,065.75 Dow Jones Industrial Average futures YM00, -0.08% fell 104 points, or 0.3%, to 32,478 Nadsaq 100 futures fell 0.8%, to 12,461 On Tuesday, the Dow industrials DJIA, +1.34% jumped 431.17 … Read more

Recession Looms, But Markets Haven’t Got the Message

After 28 trading days away from the markets*, I’ve come back to find that a new narrative of impending recession is quickly taking hold. Yet, look at the markets themselves and the story isn’t much reflected in asset prices, which are still beholden to the Federal Reserve. This creates both risks and opportunities. Start with … Read more

Asian markets mixed after Powell warns of further rate hikes

BEIJING — Asian stock markets were mixed Wednesday after Wall Street rose and the Federal Reserve’s chairman said it will raise interest rates further if needed to cool inflation. The Nikkei 225 NIK, +0.52% in Tokyo gained 0.7% after the government reported economic output shrank 0.2% in the first three months of 2022. That was … Read more

Beware of the Gains in Stocks. It Looks Like a ‘Bear Market Rally.’

Text size Morgan Stanley expects more losses to follow the recent gain in the S&P 500. Dreamstime The stock market has enjoyed a mini-rally in the past few days, but the latest gains look like an upsurge in the middle of a larger decline. The major indexes have shot higher since Thursday afternoon, when the … Read more

SEC’s Gensler warns Americans are diverting savings to ‘speculative crypto assets,’ says market needs investor protection

Securities and Exchange Commission Chairman Gary Gensler reiterated his intention to bring cryptocurrency exchanges and lending platforms into its regulatory purview during a speech before the North American Securities Administrators Association on Tuesday. “Over the past year, several bank executives have shared their personal concerns with me about the sheer number of depositors who have … Read more

Beware of the Gains in Stocks. It Looks Like a ‘Bear Market Rally.’

Text size Morgan Stanley expects more losses to follow the recent gain in the S&P 500. Dreamstime The stock market has enjoyed a mini-rally in the past few days, but the latest gains look like an upsurge in the middle of a larger decline. The major indexes have shot higher since Thursday afternoon, when the … Read more

Stock Market Today: Dow Futures Rise, Tech Outperforms, China Lockdowns to Ease

text size Fed Chair Jerome Powell is one of six officials from the central bank speaking Tuesday. Tim Williams/Getty Images Stocks rose as China moved to curb Covid-19 lockdowns that have threatened global disruption, with a wave of US economic data and Federal Reserve speakers in the day ahead as investors continue to focus on … Read more

Asian markets gain as China COVID progress outweighs Wall Street losses

Shares advanced in Asia on Tuesday after another wobbly day on Wall Street extended a losing streak for markets. Hong Kong’s Hang Seng HSI, +2.23% gained 2.2% while the Nikkei 225 NIK, +0.29% in Tokyo edged 0.4% higher. In Seoul, the Kospi 180721, +0.79% pink 0.8%. Australia’s S&P/ASX 200 XJO, +0.15% added 0.2% while the … Read more

Stock Market Today: Dow Wavered, Oil Prices Slipped After Weak Chinese Data

text size Stocks have sold off in recent weeks amid investor worries over inflation and growth. Ed Jones/AFP via Getty Images The stock market was mostly lower Monday, as investors digested a rally to close out last week. Markets are awaiting economic data out Tuesday. Tea Dow Jones Industrial Average closed up 27 points, or … Read more