Oil settles below $90 as recession fears grow

An oil pump jack pumps oil in a field near Calgary, Alberta, Canada, July 21, 2014. REUTERS/Todd Korol/File Photo Join now for FREE unlimited access to Reuters.com Register Sep 7 (Reuters) – Oil prices slumped on Wednesday, falling below levels seen before Russia invaded Ukraine as downbeat Chinese trade data fueled investor worries about recession … Read more

Wall Street rebounds on lower yields, focuses on Fed path

Join now for FREE unlimited access to Reuters.com Register Energy stocks follow the fall in oil The Fed’s Beige Book indicates that price pressures are still lingering Fed Chairman Powell will speak on Thursday Sept 7 (Reuters) – U.S. stock indices climbed on Wednesday after a recent selloff as bond yields eased, as investors await … Read more

Wall Street ends its busy post-summer session in the red

Join now for FREE unlimited access to Reuters.com Register ISM service sector data beats estimates Bed Bath & Beyond shares sink after death of CFO Wall St emerges from three straight weeks of decline Dow down 0.55%, S&P 500 down 0.41%, Nasdaq down 0.74% NEW YORK, Sept 6 (Reuters) – Wall Street’s major indexes closed … Read more

Asian stocks stagnate as investors await more rate action

People walk past an electronic screen showing Japan’s Nikkei stock price index at a conference room in Tokyo, Japan June 14, 2022. REUTERS/Issei Kato/File Photo Join now for FREE unlimited access to Reuters.com Register HONG KONG, Sept 6 (Reuters) – Asian stocks largely wiped out early morning gains on Tuesday afternoon as investors remained cautious … Read more

US authorities order Nvidia to suspend sales of top AI chips to China

Join now for FREE unlimited access to Reuters.com Register September 1 (Reuters) – Chip designer Nvidia Corp (NVDA.O) said on Wednesday that U.S. officials told him to stop exporting two leading computer chips for artificial intelligence work to China, a move that could cripple the ability of Chinese companies to do advanced work like reconnaissance … Read more

Bed Bath & Beyond to cut jobs and close stores in bid to reverse losses

Join now for FREE unlimited access to Reuters.com Register Aug 31 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) On Wednesday, it announced it had signed deals for more than $500 million in new funding and would close 150 stores, cut jobs and revamp its merchandising strategy in a bid to turn around its loss-making … Read more

Wall St falls for 3rd consecutive session on concerns over Fed rate hikes

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 29, 2022. REUTERS/Brendan McDermid Join now for FREE unlimited access to Reuters.com Register Best Buy sales beat estimates as discounts drive demand July job openings up sharply Dow down 1.02%, S&P 500 down 1.22%, Nasdaq down 1.45% … Read more

Wall Street ends well as Powell speech affirms hawkish rate stance

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 15, 2022. REUTERS/Brendan McDermid/File Photo Join now for FREE unlimited access to Reuters.com Register Fed will continue to tighten until inflation is under control – Powell Core PCE rises 0.1% in July compared to a rise of 0.6% … Read more

Lower gasoline prices are dampening consumer spending in the United States; monthly inflation slows down sharply

Consumer spending increases by 0.1% in July The decline in gas stations explains the slight increase The Core PCE price index edged up 0.1%; up 4.6 year-over-year WASHINGTON, Aug 26 (Reuters) – U.S. consumer spending barely rose in July as falling gasoline prices hurt sales at gas stations, but monthly inflation slowed sharply, which could … Read more

Moderna sues Pfizer/BioNTech for patent infringement on COVID vaccine

Moderna’s logo is reflected in a drop on a syringe needle in this illustration taken November 9, 2020. REUTERS/Dado Ruvic/Illustration Join now for FREE unlimited access to Reuters.com Register Aug 26 (Reuters) – Moderna sued Pfizer and its German partner BioNTech on Friday for patent infringement in the development of the first COVID-19 vaccine approved … Read more